Notice of Conversion or Continuation. In order to elect to convert or continue a Revolving Credit Borrowing hereunder, the 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 or by email, 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, (ii) 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 (iii) 11:00 A.M. (New York City time) on the third Business Day in advance of the proposed conversion or continuation date in the case of a conversion to, or a continuation of, EURIBOR Advances, substantially in the form of Exhibit 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, Term SOFR Advances or EURIBOR Advances, the requested Interest Period. The relevant Term SOFR or EURIBO Rate for such Interest Period in the case of a conversion to, or a continuation of, 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 Term SOFR Advances or EURIBOR Advances in such amount, on such date and for such Interest Period. If the Company fails to give a Notice of Conversion or Continuation with respect to an outstanding Revolving Credit Borrowing consisting of Term SOFR Advances as provided in clause (ii) above, the Company shall be deemed to have converted such 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 Revolving Credit Borrowing hereunder, the Company (on its own behalf or on behalf of any the Designated Borrower) shall deliver an irrevocable notice thereof (a “Notice of Conversion or Continuation”) to the Administrative Agent by telecopier or by emailtelephone confirmed immediately in writing, no later than (i) 11:00 A.M., A.M. (New York City time) on the proposed conversion date in the case of a conversion to Base Rate Advances, Advances and (ii) 11:00 no earlier than 9:00 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 (iii) 11:00 A.M. no later than 4:00 P.M. (New York City time) on the third Business Day in advance of the proposed conversion or continuation date in the case of a conversion to, or a continuation of, EURIBOR Eurodollar Rate Advances, substantially in the form of Exhibit 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, Term SOFR Advances or EURIBOR Eurodollar Rate Advances, the requested Interest Period. The relevant Term SOFR or EURIBO Eurodollar Rate for such Interest Period in the case of a conversion to, or a continuation of, Term SOFR Advances or XXXXXXX Eurodollar Rate Advances shall be determined in the manner provided in Section 2.02(a) as if such conversion or continuation is instead new Term SOFR Advances or EURIBOR Eurodollar Rate Advances in such amount, on such date and for such Interest Period. If the Company fails to give a Notice of Conversion or Continuation with respect to an outstanding Revolving Credit Borrowing consisting of Term SOFR Eurodollar Rate Advances in Dollars as provided in clause (ii) above, the Company shall be deemed to have converted such Term SOFR Eurodollar Rate 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 AGREEMENTthis
Appears in 1 contract
Samples: Credit Agreement (Stanley Works)
Notice of Conversion or Continuation. In order to elect to convert or continue a Revolving Credit Borrowing hereunder, the 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 or by email, 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, (ii) 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 (iii) 11:00 A.M. (New York City time) on the third Business Day in advance of the proposed conversion or continuation date in the case of a 364-DAY CREDIT AGREEMENT conversion to, or a continuation of, EURIBOR XXXXXXX Advances, substantially in the form of Exhibit 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, Term SOFR Advances or EURIBOR Advances, the requested Interest Period. The relevant Term SOFR or EURIBO Rate for such Interest Period in the case of a conversion to, or a continuation of, 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 Term SOFR Advances or EURIBOR Advances in such amount, on such date and for such Interest Period. If the Company fails to give a Notice of Conversion or Continuation with respect to an outstanding Revolving Credit Borrowing consisting of Term SOFR Advances as provided in clause (ii) above, the Company shall be deemed to have converted such 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 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 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: 364 Day Credit Agreement (Stanley Black & Decker, Inc.)
Notice of Conversion or Continuation. In order to elect to convert or continue a Revolving Credit Borrowing hereunder, the 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 or by email, 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, Advances and (ii) 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 (iii) 11:00 A.M. (New York City time) on the third Business Day in advance of the proposed conversion or continuation date in the case of a conversion to, or a continuation of, EURIBOR Advances, substantially in the form of Exhibit 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, continued and (y) whether a conversion or continuation is requested, and (z) in the case of a conversion to, or a continuation of, Term SOFR Advances or EURIBOR Advances, the requested Interest Period. The relevant Term SOFR or EURIBO Rate for such Interest Period in the case of a conversion to, or a continuation of, 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 Term SOFR Advances or EURIBOR Advances in such amount, on such date and for such Interest Period. If the Company fails to give a Notice of Conversion or Continuation with respect to an outstanding Revolving Credit Borrowing consisting of Term SOFR Advances as provided in clause (ii) above, the Company shall be deemed to have converted such 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: 364 Day Credit Agreement (Stanley Black & Decker, Inc.)
Notice of Conversion or Continuation. In order to elect to convert or continue a Revolving Credit Committed Borrowing hereunder, the Company (on its own behalf or on behalf of any Designated Borrower) Borrower shall deliver an irrevocable notice thereof (a “"Notice of Conversion or Continuation”") to the Administrative Agent by telecopier telecopier, telex or cable or by emailtelephone 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, Advances and (ii) 11:00 no earlier than 9:00 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 (iii) 11:00 A.M. no later than 4:00 P.M. (New York City time) on the third Business Day in advance of the proposed conversion or continuation contin uation date in the case of a conversion to, or a continuation of, EURIBOR Eurodollar Rate Advances, substantially in the form of Exhibit B 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 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, Term SOFR Advances or EURIBOR Eurodollar Rate Advances, the requested Interest Period. The relevant Term SOFR or EURIBO Eurodollar Rate for such Interest Period in the case of a conversion to, or a continuation of, Term SOFR Advances or XXXXXXX Eurodollar Rate Advances shall be determined in the manner provided in Section 2.02(a) as if such conversion or continuation is instead new Term SOFR Advances or EURIBOR Eurodollar Rate Advances in such amount, on such date and for such Interest Period. If the Company Borrower fails to give a Notice of Conversion or Continuation with respect to an outstanding Revolving Credit Committed Borrowing consisting of Term SOFR Eurodollar Rate Advances as provided in clause (ii) above, the Company Borrower shall be deemed to have converted such 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 AGREEMENTsuch
Appears in 1 contract
Samples: Credit Agreement (Stanley Works)