Interest Rate Determination; Conversion Clause Samples

Interest Rate Determination; Conversion. (a) Except to the extent (x) provided in Section 2.01 with respect to Term Benchmark Loans being made on the Effective Date or (y) that the Borrower shall request in a Conversion Request or in a written election pursuant to Section 3.03(b) that Loans (or portions thereof) bear interest as Term Benchmark Loans or RFR Loans, Loans shall bear interest as ABR Loans. (b) The Borrower may request, by giving a Conversion Request to the Administrative Agent, not later than 1:00 P.M., New York time, on the third Business Day prior to the requested Conversion Date, that all or portions of the outstanding Loans, in the aggregate principal amount of $25,000,000 or in integral multiples of $1,000,000 in excess thereof, in the case of Loans being converted to Term Benchmark Loans, and in the aggregate principal amount of $5,000,000 or in integral multiples of $100,000 in excess thereof (or, if the aggregate principal amount of outstanding Loans is less than $5,000,000, then all such lesser amount), in the case of Loans being converted to ABR Loans, bear interest from and after the Conversion Date as either ABR Loans or Term Benchmark Loans; provided, however, that during the continuance of any Default or Event of Default that shall have occurred, no Loan (or portion thereof) may be converted into Term Benchmark Loans. Upon receipt, the Administrative Agent forthwith shall give notice to each Lender of the substance of each Conversion Request. Upon payment by the Borrower of the amounts, if any, required by Section 4.03, on the Conversion Date the Loans or portions thereof as to which the Conversion Request was made shall commence to accrue interest in the manner selected by the Borrower therein.

Interest Rate Determination; Conversion. (a) Except to the extent that the Borrower shall request, in a Borrowing Request, in a Conversion Request or in a written election pursuant to Section 3.03(a) or (b), that Loans (or portions thereof) bear interest as Term SOFR Loans or Daily Simple SOFR Loans, Loans shall bear interest as ABR Loans. (b) The Borrower may request, by giving a Conversion Request to the Administrative Agent, not later than 1:00 P.M., New York time, on the third U.S. Government Securities Business Day prior to the requested Conversion Date, that all or portions of the outstanding Loans, in the aggregate principal amount of $5,000,000 or in integral multiples of $1,000,000 in excess thereof, in the case of Loans being converted to or continued as SOFR Loans, and in the aggregate principal amount of $1,000,000 or in integral multiples of $100,000 in excess thereof (or, if the aggregate principal amount of outstanding Loans is less than $1,000,000, then all such lesser amount), in the case of ABR Loans, bear interest from and after the Conversion Date as ABR Loans, Term SOFR Loans, or Daily Simple SOFR Loans; provided, however, that during the continuance of any Default or Event of Default that shall have occurred, no Loan (or portion thereof) may be converted into SOFR Loans. Upon receipt, the Administrative Agent forthwith shall give notice to each Lender of the substance of each Conversion Request. Upon payment by the Borrower of the amounts, if any, required by Section 4.03, on the Conversion Date the Loans or portions thereof as to which the Conversion Request was made shall commence to accrue interest in the manner selected by the Borrower therein.

Interest Rate Determination; Conversion. (a) Except to the extent that the Borrower shall request, in a Borrowing Request or in a Conversion Request, that Revolving Credit Loans (or portions thereof) bear interest as Eurodollar Loans, Revolving Credit Loans shall bear interest as ABR Loans. (b) The Borrower may request, by giving a Conversion Request to the Administrative Agent, by telephone, telecopy or in writing not later than 12:00 P.M. (noon) (if not in writing, to be so confirmed in substantially the form of Exhibit 3.01(b) not later than 2:00 P.M.), on the third Business Day prior to the requested Conversion Date, that all or portions of the outstanding Loans, in the aggregate principal amount of $5.0 million or in integral multiples of $1.0 million in excess thereof (or, if the aggregate principal amount of outstanding Loans is less than $5.0 million, then all such lesser amount), bear interest from and after the Conversion Date as either ABR Loans or Eurodollar Loans; provided, however, that during the continuance of any Default or Event of Default that shall have occurred, no Loan (or portion thereof) may be converted into Eurodollar Loans. Upon receipt, the Administrative Agent forthwith shall give notice to each Lender of the substance of each Conversion Request. Upon payment by the Borrower of the amounts, if any, required by

Interest Rate Determination; Conversion. Except to the extent that the Borrower shall request, in a Revolving Credit Request, in a Conversion Request or in a written election pursuant to Section 3.03(b), that Loans (or portions thereof) bear interest as Eurodollar Loans, Loans shall bear interest as ABR Loans.

Interest Rate Determination; Conversion. Section 3.02 Interest on ABR Revolving Loans . . . . . . . . . . . . . 23 Section 3.03 Interest on Eurodollar Loans . . . . . . . . . . . . . . . 23 Section 3.04 Interest on Absolute Rate Competitive Loans . . . . .

Interest Rate Determination; Conversion. 40 Section 3.02