Optional Conversion of Advances. Each Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 and 2.14, Convert all or any part of Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest Period; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 14 contracts
Samples: Credit Agreement (Columbus Southern Power Co /Oh/), Credit Agreement (Indiana Michigan Power Co), Credit Agreement (Public Service Co of Oklahoma)
Optional Conversion of Advances. Each The Borrower of any Advance may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 7 contracts
Samples: Credit Agreement (Corning Inc /Ny), Credit Agreement (Corning Inc /Ny), Credit Agreement (Corning Inc /Ny)
Optional Conversion of Advances. Each Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part portion of the Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 7 contracts
Samples: Five Year Credit Agreement (Omnicom Group Inc.), Credit Agreement (Omnicom Group Inc.), Five Year Credit Agreement (Omnicom Group Inc)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 6 contracts
Samples: Assignment and Assumption (Ca, Inc.), Assignment and Assumption (Ca, Inc.), Credit Agreement (Ca, Inc.)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.07 and 2.142.11(a), Convert all or any part of Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type (it being understood that such Conversion of an Advance or of the same Type but having its Interest Period does not constitute a new Interest Periodrepayment or prepayment of such Advance); provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall be substantially in the form of Exhibit H hereto, and shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Eurodollar Rate Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 6 contracts
Samples: Credit Agreement (DTE Electric Co), Term Loan Credit Agreement (DTE Electric Co), Term Loan Credit Agreement (DTE Electric Co)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 5 contracts
Samples: Fourth Amendment (Science Applications International Corp), Second Amendment (Science Applications International Corp), Credit Agreement (Science Applications International Corp)
Optional Conversion of Advances. Each Borrower The Company may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 a.m. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 and 2.14Conversion, Convert all or any part of Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or Continue Eurodollar Rate Advances (and in the absence of timely notice of Continuation, such Eurodollar Rate Advances shall Convert to Base Rate Advances on the last day of the same Type but having a new then current Interest Period); provided, however, provided that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b3.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b3.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such AdvanceAdvances. Each notice of Conversion or Continuation shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedCompany.
Appears in 5 contracts
Samples: Credit Agreement (Cigna Corp), Assignment and Assumption (Cigna Corp), Credit Agreement (Cigna Corp)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 a.m. (Local Time) on the third Business Day prior to the date of the proposed Conversion (or in the case of a Conversion into Base Rate Advances, the Business Day prior) and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of Advances made to such the Borrower of one Type comprising the same Borrowing into Advances of the other Type or (such notice, a “Notice of the same Type but having a new Interest PeriodConversion”); provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate AdvancesAdvances unless the Borrower has made the payments required under Section 9.04(c), any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) 2.01 and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such ConversionConversion (which shall be a Business Day), (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice Notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 4 contracts
Samples: Term Loan Credit Agreement, Term Loan Credit Agreement (AbbVie Inc.), Term Loan Credit Agreement
Optional Conversion of Advances. Each Borrower The Company may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 1:00 P.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of Advances made to such Borrower of one Type and one Class comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodClass; provided, however, that (1) any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, (2) any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified $10,000,000 or in Section 2.02(ban integral multiple of $1,000,000 in excess thereof, (3) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b)2.02(c) and (4) each Conversion of Advances comprising part of the same Borrowing shall be made ratably among the Lenders with Advances comprising such Borrowing. Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedCompany giving such notice.
Appears in 4 contracts
Samples: Term Loan Credit Agreement (International Flavors & Fragrances Inc), Term Loan Credit Agreement (Nutrition & Biosciences, Inc.), Term Loan Credit Agreement (Nutrition & Biosciences, Inc.)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 a.m. (Local Time) on the third Business Day prior to the date of the proposed Conversion (or in the case of a Conversion into Base Rate Advances, the Business Day prior) and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of Advances made to such the Borrower of one Type comprising the same Borrowing into Advances of the other Type or (such notice, a “Notice of the same Type but having a new Interest PeriodConversion”); provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) 2.01 and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such ConversionConversion (which shall be a Business Day), (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice Notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 4 contracts
Samples: Bridge Credit Agreement, Day Bridge Credit Agreement, Day Bridge Credit Agreement (AbbVie Inc.)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.12 and 2.142.16, Convert all or any part of Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest Period; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 4 contracts
Samples: Credit Agreement (Southwestern Electric Power Co), Credit Agreement (Southwestern Electric Power Co), Credit Agreement (American Electric Power Co Inc)
Optional Conversion of Advances. Each The Borrower of any Advance may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion in the case of a Conversion to Eurocurrency Rate Advances and not later than 11:00 A.M. (New York City time) on the date of the proposed Conversion in the case of a Conversion to Base Rate Advances and subject to the provisions of Sections 2.10 2.08, 2.12 and 2.149.04(c), Convert all or any part of Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 4 contracts
Samples: Credit Agreement (Xerox Corp), Credit Agreement (Xerox Corp), Credit Agreement (Xerox Corp)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon the time a Notice of Borrowing would be required under Section 2.02 if the Borrower were requesting a Borrowing of the Type resulting from such election to be made on the third Business Day prior to the effective date of the proposed Conversion such election, and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) Borrowing Minimum for Eurodollar Rate Advances and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b2.02(c). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 3 contracts
Samples: Credit Agreement (Hexcel Corp /De/), Credit Agreement (Hexcel Corp /De/), Credit Agreement (Dollar Tree Inc)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day Day, with respect to Advances in Dollars, or the fifth Business Day, with respect to Advances in Sterling, prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Eurocurrency Rate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 3 contracts
Samples: Credit Agreement (Invesco Ltd.), Five Year Credit Agreement (Invesco Ltd.), Five Year Credit Agreement (Amvescap PLC/London/)
Optional Conversion of Advances. Each Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 10:00 A.M. (New York time) on the third Business Day prior to the date of the proposed Conversion (or in the case of a Conversion into Base Rate Advances, the Business Day prior) and subject to the provisions of Sections 2.10 and 2.14, Convert all or any part of Advances denominated in Dollars made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) Applicable Minimum Amount and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such ConversionConversion (which shall be a Business Day), (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 3 contracts
Samples: Credit Agreement (STERIS PLC), Credit Agreement (STERIS PLC), Credit Agreement (Steris Corp)
Optional Conversion of Advances. Each Any Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert any or all or any part of Advances made to such Borrower of one Type comprising the same Borrowing made to it into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and ), no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b)) and each Conversion of Advances comprising part of the same Borrowing under any Facility shall be made ratably among the Appropriate Lenders in accordance with their Commitments under such Facility. Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 3 contracts
Samples: Credit Agreement (Lubrizol Corp), Credit Agreement (Lubrizol Corp), Credit Agreement (Lubrizol Corp)
Optional Conversion of Advances. Each The Borrower of any Advance made as a part of a Borrowing may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 1:00 P.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any portion of the Advances made as a part of Advances made to such Borrower a Borrowing denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and ), no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b)) and each Conversion of Advances comprising part of the same Borrowing under any Facility shall be made ratably among the Appropriate Lenders in accordance with their Commitments under such Facility. Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 3 contracts
Samples: Credit Agreement (Jabil Inc), Credit Agreement (Synnex Corp), Credit Agreement (Jabil Inc)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon P.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion for Conversions into Eurodollar Rate Advances and on the date of the proposed Conversion for conversions into Base Rate Advances and subject to the provisions of Sections 2.10 2.07 and 2.142.13, Convert all or any part of Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) 2.01, and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Eurodollar Rate Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 3 contracts
Samples: Day Credit Agreement (Spectra Energy Corp.), Credit Agreement (Spectra Energy Corp.), Credit Agreement (Spectra Energy Corp.)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.07 and 2.142.11, Convert all or any part portion of Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b2.02(c) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b2.02(c). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 3 contracts
Samples: Credit Agreement (Juniper Networks Inc), Credit Agreement (Juniper Networks Inc), Credit Agreement (Juniper Networks Inc)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 1:00 P.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part portion of Revolving Credit Advances made to such Borrower of one Type comprising the same Borrowing into Revolving Credit Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and ), no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b) and each Conversion of Advances comprising part of the same Borrowing shall be made ratably among the Lenders in accordance with their Revolving Credit Commitments and provided, further that for any Conversion of Eurodollar Rate Advances into Base Rate Advances made other than on the last day of an Interest Period for such Eurodollar Rate Advances the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 9.04(c). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 3 contracts
Samples: Supplemental Agreement, Year Credit Agreement (Gatx Financial Corp), Year Credit Agreement (Gatx Corp)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 1:00 P.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion to the Agent (which shall promptly notify each of the Lenders) and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part portion of Revolving Credit Advances made to such Borrower of one Type comprising the same Borrowing into Revolving Credit Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and 2.02(c), no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b2.02(c) and each Conversion of Advances comprising part of the same Borrowing shall be made ratably among the Lenders in accordance with their Revolving Credit Commitments and provided, further that for any Conversion of Eurodollar Rate Advances into Base Rate Advances made other than on the last day of an Interest Period for such Eurodollar Rate Advances the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(c). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 3 contracts
Samples: Five Year Credit Agreement (Gatx Corp), Five Year Credit Agreement (Gatx Corp), Year Credit Agreement (Gatx Corp)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.06 and 2.142.10, Convert all or a portion of all (comprising, in the case of any part portion, a ratable portion of the respective Advances made to such Borrower of each Lender and in an aggregate amount not less than $25,000,000) Advances of one Type comprising the same Borrowing made to the Borrower into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, Advances and any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b)$25,000,000. Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances (or portions thereof) to be Converted, Converted and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 3 contracts
Samples: Day Term Loan Agreement (Oracle Corp /De/), Day Term Loan Agreement (Oracle Corp /De/), Day Term Loan Agreement (Oracle Corp /De/)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon (Boston, Massachusetts time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of Revolving Credit Advances made to such Borrower of one Type comprising the same Borrowing into Revolving Credit Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Revolving Credit Advances shall result in more separate Revolving Credit Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Revolving Credit Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. No notice of Conversion shall be required to contain statements of the type contained in clause (A) or clause (B) on Exhibit B-1 hereto. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 2 contracts
Samples: Credit Agreement (New England Electric System), Credit Agreement (New England Electric System)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 10:00 A.M. (Chicago time) on the third Business Day prior to the date of the proposed Conversion (or in the case of a Conversion into Base Rate Advances, the Business Day prior), and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of Advances denominated in Dollars made to such the Borrower of one Type comprising the same Borrowing into Advances of the other Type or (such notice, a “Notice of the same Type but having a new Interest PeriodConversion”); provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate AdvancesAdvances unless the Borrower has made the payments required under Section 8.04(c), any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) 2.01 and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice Notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such ConversionConversion (which shall be a Business Day), (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice Notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 2 contracts
Samples: Revolving Credit Agreement (AbbVie Inc.), Revolving Credit Agreement (AbbVie Inc.)
Optional Conversion of Advances. Each The Borrower of any Advance may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.07 and 2.142.11, Convert all or any part of Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 2 contracts
Samples: Year Term Loan Agreement (Cytec Industries Inc/De/), Day Term Loan Agreement (Cytec Industries Inc/De/)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon P.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion for Conversions into Eurodollar Rate Advances and on the date of the proposed Conversion for conversions into Base Rate Advances and subject to the provisions of Sections 2.10 2.07 and 2.142.13, Convert all or any part of Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum an aggregate amount specified of $10,000,000 or an integral multiple of $1,000,000 in Section 2.02(b) excess thereof, and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Eurodollar Rate Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 2 contracts
Samples: Credit Agreement (Spectra Energy Partners, LP), Credit Agreement (Spectra Energy Partners, LP)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.09 and 2.142.13, Convert all or any part of Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest Period; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 2 contracts
Samples: Credit Agreement (Ohio Power Co), Credit Agreement (AEP Texas Inc.)
Optional Conversion of Advances. Each The Borrower may on any ------------------------------- Business Day, upon notice given to the Administrative Funding Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Eurocurrency Rate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 2 contracts
Samples: Day Credit Agreement (Amvescap PLC/London/), Year Credit Agreement (Amvescap PLC/London/)
Optional Conversion of Advances. Each Borrower The Borrowers may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day Day, with respect to Advances in Dollars, or the fifth Business Day, with respect to Advances in Sterling, prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.09 and 2.142.13, Convert all or any part of Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Eurocurrency Rate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrowers.
Appears in 2 contracts
Samples: Credit Agreement (Invesco Ltd.), Credit Agreement (Invesco Ltd.)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 10:00 A.M. (Chicago time) on the third Business Day prior to the date of the proposed Conversion (or in the case of a Conversion into Base Rate Advances, the Business Day prior), and subject to the provisions of Sections 2.10 2.07 and 2.142.11, Convert all or any part of Advances made to such the Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) 2.01 and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such ConversionConversion (which shall be a Business Day), (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 2 contracts
Samples: Credit Agreement (AbbVie Inc.), Credit Agreement (AbbVie Inc.)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or a portion of all (comprising, in the case of any part portion, a ratable portion of the respective Advances made to such Borrower of each Lender and in an aggregate amount not less than $10,000,000) Advances of one Type comprising the same Borrowing made to the Borrower into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, Advances and any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b)$10,000,000. Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances (or portions thereof) to be Converted, Converted and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 2 contracts
Samples: Day Revolving Credit Agreement (Oracle Corp), Day Revolving Credit Agreement (Oracle Corp)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.11 and 2.142.15, Convert all or any part of Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest Period; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 2 contracts
Samples: Credit Agreement (American Electric Power Co Inc), Credit Agreement (American Electric Power Co Inc)
Optional Conversion of Advances. Each The Borrower of any Advance may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third U.S. Government Securities Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.09 and 2.142.13, Convert all or any part of Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing made to such Borrower into Advances denominated in Dollars of the other Type or of the same Type but having a new Interest Periodanother Type; provided, however, that any Conversion of Eurodollar Term SOFR Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Term SOFR Rate Advances, any Conversion of Base Rate Advances into Eurodollar Term SOFR Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Eurodollar Term SOFR Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 2 contracts
Samples: Year Credit Agreement (Eastman Chemical Co), Credit Agreement (Eastman Chemical Co)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 10:00 A.M. (Chicago time) on the third Business Day prior to the date of the proposed Conversion (or in the case of a Conversion into Base Rate Advances, the Business Day prior), and subject to the provisions of Sections 2.10 2.07 and 2.142.11, Convert all or any part of Advances made to such the Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) 2.01 and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such ConversionConversion (which shall be a Business Day), (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 2 contracts
Samples: Credit Agreement (AbbVie Inc.), Credit Agreement (AbbVie Inc.)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Term SOFR Advances or Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Term SOFR Advances or Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Term SOFR Advances or Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Eurodollar Term SOFR Advances or Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 2 contracts
Samples: Credit Agreement (Science Applications International Corp), Credit Agreement (Science Applications International Corp)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part portion of the Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and ), no Conversion of any Advances shall result in more separate Borrowings under such Facility than permitted under Section 2.02(b)) and each Conversion of Advances comprising part of the same Borrowing shall be made ratably among the Lenders in accordance with their Revolving Credit Commitments. Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 2 contracts
Samples: Credit Agreement (Packaging Corp of America), Five Year Credit Agreement (Packaging Corp of America)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 1:00 P.M. (New York City time) on the third U.S. Government Securities Business Day prior to the date of the proposed Conversion to the Agent (which shall promptly notify each of the Lenders) and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part portion of Revolving Credit Advances made to such Borrower of one Type comprising the same Borrowing into Revolving Credit Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate SOFR Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and 2.02(c), no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b2.02(c) and each Conversion of Advances comprising part of the same Borrowing shall be made ratably among the Lenders in accordance with their Revolving Credit Commitments and provided, further that for any Conversion of SOFR Advances into Base Rate Advances made other than on the last day of an Interest Period for such SOFR Advances the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(c). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate SOFR Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 2 contracts
Samples: Five Year Credit Agreement (Gatx Corp), Credit Agreement (Gatx Corp)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 10:00 A.M. (New York time) on the third Business Day prior to the date of the proposed Conversion (or in the case of a Conversion into Base Rate Advances, the Business Day prior) and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of Advances denominated in Dollars made to such the Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that (i) any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, (ii) any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b2.01 and (iii) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such ConversionConversion (which shall be a Business Day), (ii) the Advances to be Converted, Converted and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 2 contracts
Samples: Bridge Credit Agreement (Equinix Inc), Bridge Credit Agreement (Equinix Inc)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.07 and 2.142.11, Convert all or any part of Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 2 contracts
Samples: Year Credit Agreement (At&t Inc.), 364 Day Credit Agreement (At&t Inc.)
Optional Conversion of Advances. Each The Borrower of any Advance may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b2.02(c) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b2.02(c). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 2 contracts
Samples: Credit Agreement (SAIC Gemini, Inc.), Credit Agreement (Science Applications International Corp)
Optional Conversion of Advances. Each The Borrower of any Advance may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that (1) any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, (2) any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b2.02(c), (3) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b)2.02(c) and (4) each Conversion of Advances comprising part of the same Borrowing shall be made ratably among the Lenders with Advances comprising such Borrowing. Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 2 contracts
Samples: Credit Agreement (International Flavors & Fragrances Inc), Credit Agreement (International Flavors & Fragrances Inc)
Optional Conversion of Advances. Each Any Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert any or all or any part of Advances made to such Borrower of one Type comprising the same Borrowing made to it into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and ), no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b)) and each Conversion of Advances comprising part of the same Borrowing under any Facility shall be made ratably among the Lenders in accordance with their Commitments under such Facility. Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 2 contracts
Samples: Year Credit Agreement (Lubrizol Corp), Year Credit Agreement (Lubrizol Corp)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or a portion of all (comprising, in the case of any part portion, a ratable portion of the respective Advances made to such Borrower of each Lender and in an aggregate amount not less than $10,000,000) Advances of one Type comprising the same Borrowing made to the Borrower into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, Advances and any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b)$10,000,000. Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances (or portions thereof) to be Converted, Converted and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Oracle Corp), Year Revolving Credit Agreement (Oracle Corp)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 1:00 P.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion to the Agent (which shall promptly notify each of the Lenders) and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part portion of Revolving Credit Advances made to such Borrower of one Type comprising the same Borrowing into Revolving Credit Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and 2.02(c), no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b2.02(c) and each Conversion of Advances comprising part of the same Borrowing shall be made ratably among the Lenders in accordance with their Revolving Credit Commitments and provided, further that for any Conversion of Eurodollar Rate Advances into Base Rate Advances made other than on the last day of an Interest Period for such Eurodollar Rate Advances the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(c). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.26 NYDOCS02/1188161
Appears in 1 contract
Optional Conversion of Advances. Each The Advances included in each Borrowing shall bear interest initially at the type of rate specified by the Borrower in the applicable Notice of Borrowing, or in the case of Letter of Credit Advances deemed to be converted to Revolving Credit Advances pursuant to Section 2.16(f)(i), initially at the Base Rate. Thereafter, the Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 1:00 P.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.07 and 2.142.11, Convert all or any part a portion of Advances made to such Borrower of one Type comprising the same Borrowing Group of Advances into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) 2.01 and no Conversion of any Advances shall result in more separate Borrowings Eurodollar Rate Tranches than permitted under Section 2.02(b); and provided further that with respect to the Conversion of a portion of Advances comprising part of the same Group, such portion is allocated ratably among the Advances comprising such Group and each resulting Eurodollar Rate Tranche is in an aggregate amount of $3,000,000 or an integral multiple of $100,000 in excess thereof. Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each the Eurodollar Rate Tranche to be comprised of such AdvanceAdvances and (iv) the Group of Advances (or portion thereof) to which such notice applies. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 1 contract
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 1:00 P.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion to the Agent (which shall promptly notify each of the Lenders) and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part portion of Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and 2.02(c), no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b2.02(c) and each Conversion of Advances comprising part of the same Borrowing shall be made ratably among the Lenders in accordance with their Commitments and provided, further that for any Conversion of Eurodollar Rate Advances into Base Rate Advances made other than on the last day of an Interest Period for such Eurodollar Rate Advances the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(c). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 1 contract
Optional Conversion of Advances. Each The Borrower of any Term SOFR Advance or Base Rate Advance may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third U.S. Government Securities Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of such Term SOFR Advances made to such Borrower of one Type or Base Rate Advances comprising the same Borrowing into Base Rate Advances of or Term SOFR Advances, as the other Type or of the same Type but having a new Interest Periodcase may be; provided, however, that any Conversion of Eurodollar Rate Term SOFR Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Term SOFR Advances, any Conversion of Base Rate Advances into Eurodollar Rate Term SOFR Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any such Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, and (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 1 contract
Samples: Credit Agreement (Interpublic Group of Companies, Inc.)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) 2.01 and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such ConversionConversion (which shall be a Business Day), (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 1 contract
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon P.M. (noon) (New York City time) on the third U.S. Government Securities Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar SOFR Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar SOFR Rate Advances, any Conversion of Base Rate Advances into Eurodollar SOFR Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) Borrowing Minimum for SOFR Rate Advances and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar SOFR Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 1 contract
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 10:00 A.M. (Local Time) on the third Business Day prior to the date of the proposed Conversion (or in the case of a Conversion into Base Rate Advances, the Business Day prior) and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of Advances made to such the Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) 2.01 and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such ConversionConversion (which shall be a Business Day), (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 1 contract
Samples: Credit Agreement (AbbVie Inc.)
Optional Conversion of Advances. Each Any Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert any or all or any part of Advances made to such Borrower of one Type comprising the same Borrowing made to it into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and ), no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b)) and each Conversion of Advances comprising part of the same Borrowing under any Facility shall be made ratably among the Lenders in accordance with their Commitments under such Facility. Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 1 contract
Samples: Credit Agreement (LUBRIZOL Corp)
Optional Conversion of Advances. Each The Borrower of any Advance made as a part of a Syndicated Borrowing may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any portion of the Advances made as a part of Advances made to such Borrower a Syndicated Borrowing denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and 2.02(c), no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b)2.02(c) and each Conversion of Advances comprising part of the same Borrowing under any Facility shall be made ratably among the Appropriate Lenders in accordance with their Commitments under such Facility. Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 1 contract
Samples: Credit Agreement (Jabil Circuit Inc)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.12 and 2.142.16, Convert all or any part of Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest Period; provided, however, that the Borrower may not request that Swingline Advances be converted into or continued as Eurodollar Rate Advances or Base Rate Advances, any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 1 contract
Samples: Credit Agreement (Ohio Power Co)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon P.M. (noon) (New York City time) on the third U.S. Government Securities Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar EurodollarSOFR Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar EurodollarSOFR Rate Advances, any Conversion of Base Rate Advances into Eurodollar EurodollarSOFR Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) Borrowing Minimum for EurodollarSOFR Rate Advances and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b2.02(c). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar EurodollarSOFR Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 1 contract
Optional Conversion of Advances. Each The Borrower of any Advance may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.22, Convert all or any part of Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Term Benchmark Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Term Benchmark Advances, any Conversion of Base Rate Advances into Eurodollar Rate Term Benchmark Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice (a “Notice of Conversion”) of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Term Benchmark Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 1 contract
Samples: Credit Agreement (Corning Inc /Ny)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Term SOFR Advances or Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Term SOFR Advances or Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Term SOFR Advances or Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Eurodollar Term SOFR Advances or Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable BorrowerBorrower giving such notice. This Section shall not apply to Swingline Borrowings, which may not be Converted2.10.
Appears in 1 contract
Samples: Credit Agreement (Science Applications International Corp)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon the time a Notice of Borrowing would be required under Section 2.02 if the Borrower were requesting a Borrowing of the Type resulting from such election to be made on the third Business Day prior to the effective date of the proposed Conversion such election, and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Advances SOFR Loans into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate AdvancesSOFR Loans, any Conversion of Base Rate Advances into Eurodollar Rate Advances SOFR Loans shall be in an amount not less than the minimum amount specified in Section 2.02(b) Borrowing Minimum for SOFR Loans and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b2.02(c). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate AdvancesSOFR Loans, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 1 contract
Samples: Credit Agreement (Hexcel Corp /De/)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given delivery of a Notice of Conversion to the Administrative Agent not later than 12:00 noon 1:00 P.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest Period; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) ), and no Conversion of any Advances shall result in more separate Borrowings consisting of Eurodollar Rate Advances than permitted under Section 2.02(b). Each such notice Notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 1 contract
Samples: Credit Agreement (Ohio Power Co)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon Noon (Hong Kong time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any portion of the Advances made as a part of Advances made to such Borrower a Borrowing of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no each Conversion of any Advances comprising part of the same Borrowing shall result be made ratably among the Avago Credit Agreement Lenders in more separate Borrowings than permitted under Section 2.02(b)accordance with their Commitments. Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 1 contract
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.07 and 2.142.11, Convert all or any part of Advances made to such Borrower (other than Competitive Bid Advances) of one Type comprising the same Borrowing into Advances (other than Competitive Bid Advances) of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that (w) no Eurocurrency Rate Advances of one currency shall be Converted into Eurocurrency Rate Advances of another currency, (x) any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, (y) any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b2.02(c) and (z) no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b2.02(c). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the currency of and the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 1 contract
Samples: Credit Agreement (Hartford Life Inc)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part a portion of the Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate AdvancesAdvances (unless the Borrower shall pay any compensation owing with respect thereto under Section 8.04(c)), any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 1 contract
Optional Conversion of Advances. Each Any Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (Chicago, Illinois time, or, subsequent to November 1, 2005, London time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert any or all or any part of Advances made to such Borrower of one Type comprising the same Borrowing made to it into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and ), no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b)) and each Conversion of Advances comprising part of the same Borrowing under any Facility shall be made ratably among the Lenders in accordance with their Commitments under such Facility. Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 1 contract
Samples: Credit Agreement (Lubrizol Corp)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest Period; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 1 contract
Samples: Term Credit Agreement (Southwestern Electric Power Co)
Optional Conversion of Advances. Each The Borrower may (x) on any U.S. Government Securities Business Day, upon notice given to the Administrative Agent not later than 11:00 A.M. (New York City time) on the third U.S. Government Securities Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.08 and 2.12, Convert all Base Rate Advances into Term SOFR Advances and (y) on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of Term SOFR Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodBase Rate Advances; provided, however, that any Conversion of Eurodollar Rate Term SOFR Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Term SOFR Advances, any Conversion of Base Rate Advances into Eurodollar Rate Term SOFR Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Term SOFR Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 1 contract
Samples: Credit Agreement (Fox Corp)
Optional Conversion of Advances. Each Borrower The Company may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 1:00 P.M. (New York City time) on the third U.S. Government Securities Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of Advances made to such Borrower of one Type and one Class comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodClass; provided, however, that (1) any Conversion of Eurodollar EurocurrencyTerm Benchmark Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar EurocurrencyTerm Benchmark Rate Advances, (2) any Conversion of Base Rate Advances into Eurodollar EurocurrencyTerm Benchmark Rate Advances shall be in an amount not less than the minimum amount specified $10,000,000 or in Section 2.02(ban integral multiple of $1,000,000 in excess thereof, (3) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b)2.02(c) and (4) each Conversion of Advances comprising part of the same Borrowing shall be made ratably among the Lenders with Advances comprising such Borrowing. Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar EurocurrencyTerm Benchmark Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedCompany giving such notice.
Appears in 1 contract
Samples: Credit Agreement (International Flavors & Fragrances Inc)
Optional Conversion of Advances. Each Borrower The Company may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 a.m. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 and 2.14Conversion, Convert all or any part of Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or Continue Txxx Xxxxxxxxx Advances (and in the absence of timely notice of Continuation, such Term Benchmark Advances shall Convert to Base Rate Advances on the last day of the same Type but having a new then current Interest Period); provided, however, provided that any Conversion of Eurodollar Rate Term Benchmark Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Term Benchmark Advances, any Conversion of Base Rate Advances into Eurodollar Rate Term Benchmark Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b3.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b3.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Term Benchmark Advances, the duration of the initial Interest Period for each such AdvanceAdvances. Each notice of Conversion or Continuation shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedCompany.
Appears in 1 contract
Samples: Credit Agreement (Cigna Group)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 1:00 P.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion to the Agent (which shall promptly notify each of the Lenders) and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part portion of Revolving Credit Advances made to such Borrower of one Type comprising the same Borrowing into Revolving Credit Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and 2.02(c), no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b2.02(c) and each Conversion of Advances comprising part of the same Borrowing shall be made ratably among the Lenders in accordance with their Revolving Credit Commitments and provided, further that for any Conversion of Eurodollar Rate Advances into Base Rate Advances made other than on the last day of an Interest Period for such Eurodollar Rate Advances the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(c). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.,
Appears in 1 contract
Optional Conversion of Advances. Each Borrower The Company may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 a.m. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 and 2.14Conversion, Convert all or any part of Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or Continue Txxx Xxxxxxxxx Advances (and in the absence of timely notice of Continuation, such Term Benchmark Advances shall Convert to Base Rate Advances on the last day of the same Type but having a new then current Interest Period); provided, however, provided that any Conversion of Eurodollar Rate Term Benchmark Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Term Benchmark Advances, any Conversion of Base Rate Advances into Eurodollar Rate Term Benchmark Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b3.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b3.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Term Benchmark Advances, the duration of the initial Interest Period for each such AdvanceAdvances. Each notice of Conversion or Continuation shall be irrevocable and binding on the applicable BorrowerCompany. This Notwithstanding the foregoing, in no event shall the Company be permitted to request pursuant to this Section 3.08 prior to a Benchmark Transition Event and Benchmark Replacement Date with respect to the Term SOFR Rate, an RFR Advance bearing interest based on Daily Simple SOFR (it being understood and agreed that Daily Simple SOFR shall not only apply to Swingline Borrowingsthe extent provided in Sections 3.07(d) and 3.07(i), which may not be Convertedas applicable).
Appears in 1 contract
Samples: Credit Agreement (Cigna Group)
Optional Conversion of Advances. Each Either Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part portion of the Advances made to such Borrower it of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and ), no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b)) and each Conversion of Advances comprising part of the same Borrowing shall be made ratably among the Lenders in accordance with their Commitments. Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 1 contract
Optional Conversion of Advances. Each Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 1:00 p.m. (New York City time) on the (x) third Business Day prior to the date of the proposed Conversion of Advances from Base Rate Advances to Eurodollar Rate Advances and (y) the first Business Day prior to the date of the proposed Conversion of Advances from Eurodollar Rate Advances to Base Rate Advances, and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part portion of Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that (a) Borrower shall pay any amounts owing pursuant to Section 8.04(c) in connection with any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, and any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b2.01(a) and (b) no Conversion portion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b)Advance may be Converted into a Eurodollar Rate Advance if any Event of Default has occurred and is continuing. Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, Converted and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 1 contract
Samples: Credit Agreement (Tribune Co)
Optional Conversion of Advances. Each The Borrower of any Advance may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part portion of Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and ), no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b)) and each Conversion of Advances comprising part of the same Borrowing shall be made ratably among the Lenders. Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable BorrowerBorrower giving such notice. This Section shall not apply to Swingline Borrowings, which may not be ConvertedSECTION 2.10.
Appears in 1 contract
Samples: Year Credit Agreement (Dentsply International Inc /De/)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 10:00 A.M. (Chicago time) on the third Business Day prior to the date of the proposed Conversion (or in the case of a Conversion into Base Rate Advances, the Business Day prior), and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of Advances denominated in Dollars made to such the Borrower of one Type comprising the same Borrowing into Advances of the other Type or (such notice, a “Notice of the same Type but having a new Interest PeriodConversion”); provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) 2.01 and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice Notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such ConversionConversion (which shall be a Business Day), (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice Notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 1 contract
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.07 and 2.142.11, Convert all or any part portion of Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and ), no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b) and each Conversion of Advances comprising part of the same Borrowing shall be made ratably among the Lenders in accordance with their Commitments and provided, further that for any Conversion of Eurodollar Rate Advances into Base Rate Advances made other than on the last day of an Interest Period for such Eurodollar Rate Advances the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(c). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 1 contract
Samples: Credit Agreement (Tc Pipelines Lp)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon the time a Notice of Borrowing would be required under Section 2.02 if the Borrower were requesting a Borrowing of the Type resulting from such election to be made on the third Business Day prior to the effective date of the proposed Conversion such election, and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Adjusted Term SOFR Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Adjusted Term SOFR Rate Advances, any Conversion of Base Rate Advances into Eurodollar Adjusted Term SOFR Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) Borrowing Minimum for Adjusted Term SOFR Rate Advances and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b2.02(c). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Adjusted Term SOFR Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 1 contract
Samples: Credit Agreement (Dollar Tree, Inc.)
Optional Conversion of Advances. Each The Borrower of any Advance may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of such Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any such Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable BorrowerBorrower giving such notice. This Section shall not apply to Swingline Borrowings, which may not be Converted.Interpublic Credit Agreement
Appears in 1 contract
Samples: Credit Agreement (Interpublic Group of Companies, Inc.)
Optional Conversion of Advances. Each The Borrower of any Advance may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.07, 2.11 and 2.142.21, Convert all or any part of Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate SOFR Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate SOFR Advances, any Conversion of Base Rate Advances into Eurodollar Rate SOFR Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate SOFR Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 1 contract
Samples: Credit Agreement (At&t Inc.)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon P.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.09 and 2.142.13, Convert all the whole or any part of the Revolving Credit Advances made to such Borrower of one Type comprising the same Borrowing made to the Borrower into Revolving Credit Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last final day of an Interest Period for such Eurodollar Rate Advances, Advances and any Alenco - Amended and Restated Credit Agreement Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) $1,000,000 and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Revolving Credit Advances to be Converted, Converted and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 1 contract
Samples: Credit Agreement (Encana Corp)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 10:00 A.M. (Chicago time) on the third Business Day prior to the date of the proposed Conversion (or in the case of a Conversion into Base Rate Advances, the Business Day prior) and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of Advances denominated in Dollars made to such the Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) 2.01 and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such ConversionConversion (which shall be a Business Day), (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 1 contract
Optional Conversion of Advances. Each Either Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part portion of the Advances made to such Borrower it of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; 42 provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and ), no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b)) and each Conversion of Advances comprising part of the same Borrowing shall be made ratably among the Lenders in accordance with their Commitments. Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 1 contract
Samples: Credit Agreement (Eastman Kodak Co)
Optional Conversion of Advances. Each Any Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.06 and 2.142.10, Convert all or any part of Advances made to such Borrower it denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified Borrowing Minimum or any Borrowing Multiple in Section 2.02(b) excess thereof and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 1 contract
Optional Conversion of Advances. Each The Borrower of any Advance made as a part of a Borrowing may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any portion of the Advances made as a part of Advances made to such Borrower a Borrowing denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and ), no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b)) and each Conversion of Advances comprising part of the same Borrowing shall be made ratably among the Lenders in accordance with their Commitments. Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 1 contract
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 and 2.14Section 2.09, Convert all the whole or any part of the Revolving Credit Advances made to such Borrower of one Type comprising the same Borrowing made to the Borrower into Revolving Credit Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Term Benchmark Advances into Base Rate Advances shall be made only on the last final day of an Interest Period for such Eurodollar Rate Advances, Term Benchmark Advances and any Conversion of Base Rate Advances into Eurodollar Rate Term Benchmark Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) $1,000,000 and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Revolving Credit Advances to be Converted, Converted and (iii) if such Conversion is into Eurodollar Rate Term Benchmark Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 1 contract
Samples: Credit Agreement (Ovintiv Inc.)
Optional Conversion of Advances. Each The Borrower of any Advance may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third U.S. Government Securities Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that (1) any Conversion of Eurodollar EurocurrencyTerm Benchmark Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar EurocurrencyTerm Benchmark Rate Advances, (2) any Conversion of Base Rate Advances into Eurodollar EurocurrencyTerm Benchmark Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b2.02(c), (3) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b)2.02(c) and (4) each Conversion of Advances comprising part of the same Borrowing shall be made ratably among the Lenders with Advances comprising such Borrowing. Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Eurodollar EurocurrencyTerm Benchmark Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 1 contract
Samples: Credit Agreement (International Flavors & Fragrances Inc)
Optional Conversion of Advances. Each The Borrower of any Advance made as a part of a Revolving Credit Borrowing may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any portion of the Advances made as a part of Advances made to such Borrower a Revolving Credit Borrowing denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and 2.02(c), no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b)2.02(c) and each Conversion of Advances comprising part of the same Borrowing shall be made ratably among the Lenders in accordance with their Commitments. Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 1 contract
Optional Conversion of Advances. Each The Borrower of any Advance may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion in the case of a Conversion to Eurodollar Rate Advances and not later than 11:00 A.M. (New York City time) on the date of the proposed Conversion in the case of a Conversion to Base Rate Advances and subject to the provisions of Sections 2.10 2.07, 2.11 and 2.148.04(c), Convert all or any part of Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 1 contract
Samples: Bridge Credit Agreement (Xerox Corp)
Optional Conversion of Advances. Each Borrower The Company may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 1:00 P.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any portion of the Advances made as a part of Advances made to such Borrower a Borrowing of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and ), no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b)) and each Conversion of Advances comprising part of the same Borrowing shall be made ratably among the Lenders in accordance with their Commitments. Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedCompany.
Appears in 1 contract
Samples: Credit Agreement (Jabil Inc)
Optional Conversion of Advances. Each Either Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part portion of the Advances made to such Borrower it of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and ), no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b)) and each Conversion of Advances comprising part of the same Borrowing under any Facility shall be made ratably among the Appropriate Lenders in accordance with their Commitments under such Facility. Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 1 contract
Samples: Credit Agreement (Eastman Kodak Co)
Optional Conversion of Advances. Each The Borrower of any Advance may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.07, 2.11 and 2.142.21, Convert all or any part of Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 1 contract
Samples: Credit Agreement (At&t Inc.)
Optional Conversion of Advances. Each Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 1:00 p.m. (New York City time) on the (x) third Business Day prior to the date of the proposed Conversion of Advances from Base Rate Advances to Eurodollar Rate Advances and (y) the first Business Day prior to the date of the proposed Conversion of Advances from Eurodollar Rate Advances to Base Rate Advances, and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part portion of Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that (a) Borrower shall pay any amounts owing pursuant to Section 8.04(c) in connection with any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, and any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b2.01 and (b) and no Conversion portion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b)Advance may be Converted into a Eurodollar Rate Advance if any Event of Default has occurred and is continuing. Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, Converted and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 1 contract
Samples: Interim Loan Agreement (Tribune Co)
Optional Conversion of Advances. Each Borrower of any Advance may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.07 and 2.142.11, Convert all or any part of Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Convertedeach Borrower giving such notice.
Appears in 1 contract
Samples: Day Credit Agreement (Interpublic Group of Companies Inc)
Optional Conversion of Advances. Each The Borrower of any Term SOFR Advance or Base Rate Advance may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third U.S. Government Securities Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of such Term SOFR Advances made to such Borrower of one Type or Base Rate Advances comprising the same Borrowing into Base Rate Advances of or Term SOFR Advances, as the other Type or of the same Type but having a new Interest Periodcase may be; provided, however, that any Conversion of Eurodollar Rate Term SOFR Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Term SOFR Advances, any Conversion of Base Rate Advances into Eurodollar Rate Term SOFR Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any such Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, and (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable BorrowerBorrower giving such notice. This Section shall not apply to Swingline Borrowings, which may not be Converted.SECTION 2.10
Appears in 1 contract
Samples: Credit Agreement (Interpublic Group of Companies, Inc.)
Optional Conversion of Advances. Each The Borrower of any Advance may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.07 and, 2.11 and 2.142.21, Convert all or any part of Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
Appears in 1 contract
Samples: Credit Agreement (At&t Inc.)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part portion of the Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; providedPROVIDED, howeverHOWEVER, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and ), no Conversion of any Advances under any Facility shall result in more separate Borrowings under such Facility than permitted under Section 2.02(b)) and each Conversion of Advances comprising part of the same Borrowing under any Facility shall be made ratably among the Appropriate Lenders in accordance with their Commitments under such Facility. Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
Appears in 1 contract
Samples: Five Year Credit Agreement (Packaging Corp of America)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent in substantially the form of Exhibit C not later than 12:00 noon 11:00 A.M. (New York City time) on the third second Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.8 and 2.143.1, Convert all or any part of Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate LIBO RateSOFR Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate LIBO RateSOFR Advances, any Conversion of Base Rate Advances into Eurodollar Rate LIBO RateSOFR Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b2.2(c) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b2.2(c). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate LIBO RateSOFR Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.5125 WEIL:\98779117\5\64945.0060WEIL:\98789202\5\64945.0060 2216363.01-NYCSR03A - MSW
Appears in 1 contract
Optional Conversion of Advances. Each The Borrower of any Advance may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.9, 2.17, 8.1 and 2.148.2, Convert all or any part a portion of the Advances made to such Borrower of one Type comprising the same Borrowing under a Facility into Advances under such Facility denominated in the same currency of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar EurocurrencyTerm Benchmark Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar EurocurrencyTerm Benchmark Rate Advances, and any Conversion of Base Rate Advances or Canadian Prime Rate Advance, as the case may be, into Eurodollar EurocurrencyTerm Benchmark Rate Advances Advances, shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b2.2(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar EurocurrencyTerm Benchmark Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable BorrowerBorrower giving such notice. This Section shall not apply to Swingline Borrowings, which may not be Converted.2.11
Appears in 1 contract
Samples: The Credit Agreement (Marsh & McLennan Companies, Inc.)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 1:00 P.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part portion of Revolving Credit Advances made to such Borrower of one Type comprising the same Borrowing into Revolving Credit Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and ), no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b) and each Conversion of Advances comprising part of the same Borrowing shall be made ratably among the Lenders in accordance with their Revolving Credit Commitments and provided, further that for any Conversion of Eurodollar Rate Advances into Base Rate Advances made other than on the last day of an Interest Period for such Eurodollar Rate Advances the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(c). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
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Optional Conversion of Advances. Each Borrower The Company may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part of such Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any such Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable BorrowerCompany. This Section shall not apply to Swingline Borrowings, which may not be Converted.Interpublic Credit Agreement
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Samples: Assignment and Assumption (Interpublic Group of Companies, Inc.)
Optional Conversion of Advances. Each The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 1:00 P.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any part portion of Revolving Credit Advances made to such Borrower of one Type comprising the same Borrowing into Revolving Credit Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and ), no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b) and each Conversion of Advances comprising part of the same Borrowing shall be made ratably among the Lenders in accordance with their Revolving Credit Commitments and provided, further that for any Conversion of Eurodollar Rate Advances into Base Rate Advances made other than on the last day of an Interest Period for such Eurodollar Rate Advances the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(c). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.Borrower.
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Samples: Five Year Credit Agreement
Optional Conversion of Advances. Each The Borrower of any Advance may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08, 2.12 and 2.142.20, Convert all or any part of Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Rate Term SOFR Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Term SOFR Advances, any Conversion of Base Rate Advances into Eurodollar Rate Term SOFR Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Term SOFR Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.
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Optional Conversion of Advances. Each The Borrower of any Advance made as a part of a Borrowing may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 2.08 and 2.142.12, Convert all or any portion of the Advances made as a part of Advances made to such Borrower a Borrowing of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest PeriodType; provided, however, that any Conversion of Eurodollar Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurodollar Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and ), no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b)) and each Conversion of Advances comprising part of the same Borrowing under any Facility shall be made ratably among the Appropriate Lenders in accordance with their Commitments under such Facility. Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be ConvertedBorrower giving such notice.
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Samples: Credit Agreement (Jabil Inc)