Notice of Conversion or Continuation. In order to elect to convert or continue a Committed Borrowing hereunder, the Borrower shall deliver an irrevocable notice thereof (a "Notice of Conversion or Continuation") to the Agent by telecopier, telex or cable or by telephone confirmed immediately in writing, no later than (i) 11:00 A.M., (New York City time) on the proposed conversion date in the case of a conversion to Base Rate Advances and (ii) no earlier than 9:00 A.M. (New York City time) and no later than 4:00 P.M. (New York City time) on the third Business Day in advance of the proposed conversion or contin uation date in the case of a conversion to, or a continuation of, Eurodollar Rate Advances, substantially in the form of Exhibit C hereto. A Notice of Conversion or Continuation shall specify (w) the requested conversion or continuation date (which shall be a Business Day), (x) the amount and Type of the Advances to be converted or continued, (y) whether a conversion or continuation is requested, and (z) in the case of a conversion to, or a continuation of, Eurodollar Rate Advances, the requested Interest Period. The relevant Eurodollar Rate for such Interest Period in the case of a conversion to, or a continuation of, Eurodollar Rate Advances shall be determined in the manner provided in Section 2.02(a) as if such conversion or continuation is instead new Eurodollar Rate Advances in such amount, on such date and for such Interest Period. If the Borrower fails to give a Notice of Conversion or Continuation with respect to an outstanding Committed Borrowing consisting of Eurodollar Rate Advances as provided in clause (ii) above, the Borrower shall be deemed to have converted such
Appears in 1 contract
Samples: Credit Agreement (Stanley Works)
Notice of Conversion or Continuation. In order to elect to convert or continue a Committed Borrowing hereunder, the Borrower Company (on its own behalf or on behalf of any Designated Borrower) shall deliver an irrevocable notice thereof (a "“Notice of Conversion or Continuation"”) to the Administrative Agent by telecopier, telex or cable telecopier or by telephone confirmed immediately in writingemail, no later than (i) 11:00 A.M., (New York City time) on the proposed conversion date in the case of a conversion to Base Rate Advances and Advances, (ii) no earlier than 9:00 11:00 A.M. (New York City time) on the third U.S. Government Securities Business Day in advance of the proposed conversion or continuation date in the case of a conversion to, or a continuation of, Term SOFR Advances and no later than 4:00 P.M. (iii) 11:00 A.M. (New York City time) on the third Business Day in advance of the proposed conversion or contin uation continuation date in the case of a conversion to, or a continuation of, Eurodollar Rate EURIBOR Advances, substantially in the form of Exhibit C B hereto. A Notice of Conversion or Continuation shall specify (w) the requested conversion or continuation date (which shall be a Business Day), (x) the amount and Type of the Advances to be converted or continued, (y) whether a conversion or continuation is requested, and (z) in the case of a conversion to, or a continuation of, Eurodollar Rate Term SOFR Advances or EURIBOR Advances, the requested Interest Period. The relevant Eurodollar Term SOFR or EURIBO Rate for such Interest Period in the case of a conversion to, or a continuation of, Eurodollar Rate Term SOFR Advances or XXXXXXX Advances shall be determined in the manner provided in Section 2.02(a) as if such conversion or continuation is instead new Eurodollar Rate Term SOFR Advances or EURIBOR Advances in such amount, on such date and for such Interest Period. If the Borrower Company fails to give a Notice of Conversion or Continuation with respect to an outstanding Committed Borrowing consisting of Eurodollar Rate Term SOFR Advances as provided in clause (ii) above, the Borrower Company shall be deemed to have converted suchsuch Term SOFR Advances into Base Rate Advances in accordance with this Section 2.04 if such Advances are outstanding after the last day of the Interest Period with respect thereto. If the Company fails to give a Notice of Conversion or Continuation with respect to an outstanding Borrowing consisting of XXXXXXX Advances as provided in clause (ii) above, the Company shall be deemed to have converted such EURIBOR Advances into a EURIBOR Advance with an Interest Period of one (1) month in accordance with this Section 2.04 if such Advances are outstanding after the last day of the Interest Period with respect thereto.
Appears in 1 contract
Samples: 364 Day Credit Agreement (Stanley Black & Decker, Inc.)
Notice of Conversion or Continuation. In order to elect to convert or continue a Committed Borrowing hereunder, the Borrower Company (on its own behalf or on behalf of any Designated Borrower) shall deliver an irrevocable notice thereof (a "“Notice of Conversion or Continuation"”) to the Administrative Agent by telecopier, telex or cable telecopier or by telephone confirmed immediately in writingemail, no later than (i) 11:00 A.M., (New York City time) on the proposed conversion date in the case of a conversion to Base Rate Advances and (ii) no earlier than 9:00 11:00 A.M. (New York City time) and no later than 4:00 P.M. (New York City time) on the third U.S. Government Securities Business Day in advance of the proposed conversion or contin uation continuation date in the case of a conversion to, or a continuation of, Eurodollar Rate Term SOFR Advances, substantially in the form of Exhibit C B hereto. A Notice of Conversion or Continuation shall specify (w) the requested conversion or continuation date (which shall be a Business Day), (x) the amount and Type of the Advances to be converted or continued, continued and (y) whether a conversion or continuation is requested, and (z) in the case of a conversion to, or a continuation of, Eurodollar Rate Advances, the requested Interest Period. The relevant Eurodollar Rate Term SOFR for such Interest Period in the case of a conversion to, or a continuation of, Eurodollar Rate Term SOFR Advances shall be determined in the manner provided in Section 2.02(a) as if such conversion or continuation is instead new Eurodollar Rate Term SOFR Advances in such amount, on such date and for such Interest Period. If the Borrower Company fails to give a Notice of Conversion or Continuation with respect to an outstanding Committed Borrowing consisting of Eurodollar Rate Term SOFR Advances as provided in clause (ii) above, the Borrower Company shall be deemed to have converted suchsuch Term SOFR Advances into Base Rate Advances in accordance with this Section 2.04 if such Advances are outstanding after the last day of the Interest Period with respect thereto.
Appears in 1 contract
Samples: 364 Day Credit Agreement (Stanley Black & Decker, Inc.)
Notice of Conversion or Continuation. In order to elect to convert or continue a Committed Revolving Credit Borrowing hereunder, the Borrower Company (on its own behalf or on behalf of any Designated Borrower) shall deliver an irrevocable notice thereof (a "“Notice of Conversion or Continuation"”) to the Administrative Agent by telecopier, telex or cable telecopier or by telephone confirmed immediately in writingemail, no later than (i) 11:00 A.M., (New York City time) on the proposed conversion date in the case of a conversion to Base Rate Advances and Advances, (ii) no earlier than 9:00 11:00 A.M. (New York City time) on the third U.S. Government Securities Business Day in advance of the proposed conversion or continuation date in the case of a conversion to, or a continuation of, Term SOFR Advances and no later than 4:00 P.M. (iii) 11:00 A.M. (New York City time) on the third Business Day in advance of the proposed conversion or contin uation continuation date in the case of a conversion to, or a continuation of, Eurodollar Rate EURIBOR Advances, substantially in the form of Exhibit C B hereto. A Notice of Conversion or Continuation shall specify (w) the requested conversion or continuation date (which shall be a Business Day), (x) the amount and Type of the Revolving Credit Advances to be converted or continued, (y) whether a conversion or continuation is requested, and (z) in the case of a conversion to, or a continuation of, Eurodollar Rate Term SOFR Advances or EURIBOR Advances, the requested Interest Period. The relevant Eurodollar Term SOFR or EURIBO Rate for such Interest Period in the case of a conversion to, or a continuation of, Eurodollar Rate Term SOFR Advances or XXXXXXX Advances shall be determined in the manner provided in Section 2.02(a) as if such conversion or continuation is instead new Eurodollar Rate Term SOFR Advances or EURIBOR Advances in such amount, on such date and for such Interest Period. If the Borrower Company fails to give a Notice of Conversion or Continuation with respect to an outstanding Committed Revolving Credit Borrowing consisting of Eurodollar Rate Term SOFR Advances as provided in clause (ii) above, the Borrower Company shall be deemed to have converted suchsuch Term SOFR Advances into Base Rate Advances in accordance with this Section 2.04 if such Revolving Credit Advances are outstanding after the last day of the Interest Period with respect thereto. If the Company fails to give a Notice of Conversion or Continuation with respect to an outstanding Revolving Credit Borrowing consisting of EURIBOR Advances as provided in clause (ii) above, the Company shall be deemed to have converted such EURIBOR Advances into a EURIBOR Advance with an Interest Period of one (1) month in accordance with this Section 2.04 if such Revolving Credit Advances are outstanding after the last day of the Interest Period with respect thereto. AMENDED AND RESTATED FIVE YEAR CREDIT AGREEMENT
Appears in 1 contract
Samples: Five Year Credit Agreement (Stanley Black & Decker, Inc.)
Notice of Conversion or Continuation. In order to elect to convert or continue a Committed Revolving Credit Borrowing hereunder, the Borrower Company (on its own behalf or on behalf of any Designated Borrower) shall deliver an irrevocable notice thereof (a "“Notice of Conversion or Continuation"”) to the Administrative Agent by telecopier, telex or cable telecopier or by telephone confirmed immediately in writingemail, no later than (i) 11:00 A.M., (New York City time) on the proposed conversion date in the case of a conversion to Base Rate Advances and Advances, (ii) no earlier than 9:00 11:00 A.M. (New York City time) on the third U.S. Government Securities Business Day in advance of the proposed conversion or continuation date in the case of a conversion to, or a continuation of, Term SOFR Advances and no later than 4:00 P.M. (iii) 11:00 A.M. (New York City time) on the third Business Day in advance of the proposed conversion or contin uation continuation date in the case of a conversion to, or a continuation of, Eurodollar Rate EURIBOR Advances, substantially in the form of Exhibit C B hereto. A Notice of Conversion or Continuation shall specify (w) the requested conversion or continuation date (which shall be a Business Day), (x) the amount and Type of the Revolving Credit Advances to be converted or continued, (y) whether a conversion or continuation is requested, and (z) in the case of a conversion to, or a continuation of, Eurodollar Rate ,Term SOFR Advances or EURIBOR Advances, the requested Interest Period. The relevant Eurodollar Term SOFR or EURIBO Rate for such Interest Period in the case of a conversion to, or a continuation of, Eurodollar Rate Term SOFR Advances or XXXXXXX Advances shall be determined in the manner provided in Section 2.02(a) as if such conversion or continuation is instead new Eurodollar Rate Term SOFR Advances or EURIBOR Advances in such amount, on such date and for such Interest Period. If the Borrower Company fails to give a Notice of Conversion or Continuation with respect to an outstanding Committed Revolving Credit Borrowing consisting of Eurodollar Rate Term SOFR Advances as provided in clause (ii) above, the Borrower Company shall be deemed to have converted suchsuch Term SOFR Advances into Base Rate Advances in accordance with this Section 2.04 if such Revolving Credit Advances are outstanding after the last day of the Interest Period with respect thereto. If the Company fails to give a Notice of Conversion or Continuation AMENDED AND RESTATED FIVE YEAR CREDIT AGREEMENT with respect to an outstanding Revolving Credit Borrowing consisting of Eurocurrency RateEURIBOR Advances in an Alternate Currency as provided in clause (ii) above, the Company shall be deemed to have converted such Eurocurrency RateEURIBOR Advances into a Eurocurrency RateEURIBOR Advance with an Interest Period of one (1) month in accordance with this Section 2.04 if such Revolving Credit Advances are outstanding after the last day of the Interest Period with respect thereto.
Appears in 1 contract
Notice of Conversion or Continuation. In order to elect to convert or continue a Committed Borrowing hereunder, the Borrower Company (on its own behalf or on behalf of any Designated Borrower) shall deliver an irrevocable notice thereof (a "“Notice of Conversion or Continuation"”) to the Administrative Agent by telecopier, telex or cable telecopier or by telephone confirmed immediately in writingemail, no later than (i) 11:00 A.M., (New York City time) on the proposed conversion date in the case of a conversion to Base Rate Advances and Advances, (ii) no earlier than 9:00 11:00 A.M. (New York City time) on the third U.S. Government Securities Business Day in advance of the proposed conversion or continuation date in the case of a conversion to, or a continuation of, Term SOFR Advances and no later than 4:00 P.M. (iii) 11:00 A.M. (New York City time) on the third Business Day in advance of the proposed conversion or contin uation continuation date in the case of a 364-DAY CREDIT AGREEMENT conversion to, or a continuation of, Eurodollar Rate XXXXXXX Advances, substantially in the form of Exhibit C B hereto. A Notice of Conversion or Continuation shall specify (w) the requested conversion or continuation date (which shall be a Business Day), (x) the amount and Type of the Advances to be converted or continued, (y) whether a conversion or continuation is requested, and (z) in the case of a conversion to, or a continuation of, Eurodollar Rate Term SOFR Advances or EURIBOR Advances, the requested Interest Period. The relevant Eurodollar Term SOFR or EURIBO Rate for such Interest Period in the case of a conversion to, or a continuation of, Eurodollar Rate Term SOFR Advances or XXXXXXX Advances shall be determined in the manner provided in Section 2.02(a) as if such conversion or continuation is instead new Eurodollar Rate Term SOFR Advances or EURIBOR Advances in such amount, on such date and for such Interest Period. If the Borrower Company fails to give a Notice of Conversion or Continuation with respect to an outstanding Committed Borrowing consisting of Eurodollar Rate Term SOFR Advances as provided in clause (ii) above, the Borrower Company shall be deemed to have converted suchsuch Term SOFR Advances into Base Rate Advances in accordance with this Section 2.04 if such Advances are outstanding after the last day of the Interest Period with respect thereto. If the Company fails to give a Notice of Conversion or Continuation with respect to an outstanding Borrowing consisting of XXXXXXX Advances as provided in clause (ii) above, the Company shall be deemed to have converted such EURIBOR Advances into a EURIBOR Advance with an Interest Period of one (1) month in accordance with this Section 2.04 if such Advances are outstanding after the last day of the Interest Period with respect thereto.
Appears in 1 contract
Samples: 364 Day Credit Agreement (Stanley Black & Decker, Inc.)