Common use of Optional Conversion of Advances Clause in Contracts

Optional Conversion of Advances. The Borrower of any Advance may on any Business Day, upon notice given to the 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 2.09 and 2.13, Convert all Advances denominated in Dollars of one Type comprising the same Borrowing made to such Borrower into Advances denominated in Dollars of another Type; provided, however, that any Conversion of Term SOFR Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Term SOFR Rate Advances, any Conversion of Base Rate Advances into 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 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 Borrower giving such notice.

Optional Conversion of Advances. The Borrower of any Term SOFR Advance or Base Rate Advance may on any Business Day, upon notice given to the 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 2.09 2.08 and 2.132.12, Convert all or any part of such Term SOFR Advances denominated in Dollars of one Type or Base Rate Advances comprising the same Borrowing made to such Borrower into Base Rate Advances denominated in Dollars of another Typeor Term SOFR Advances, as the case may be; provided, however, that any Conversion of Term SOFR Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Term SOFR Rate Advances, any Conversion of Base Rate Advances into 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 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 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 Borrower giving such notice.

Optional Conversion of Advances. The Borrower of any Advance may on any Business Day, upon notice given to the 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 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 2.09 2.08, 2.12 and 2.139.04(c), Convert all Advances denominated in Dollars of one Type comprising the same Borrowing made to such Borrower into Advances denominated in Dollars of another the other Type; provided, however, that any Conversion of Term SOFR Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Term SOFR Rate Advances, any Conversion of Base Rate Advances into Term SOFR Eurocurrency NYDOCS01/1357750.4 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 Term SOFR 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 Borrower giving such notice.

Optional Conversion of Advances. The Borrower of any Advance Company may on any Business Day, upon notice given to the Administrative Agent not later than 11:00 A.M. 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 2.09 and 2.13Conversion, Convert all Advances denominated in Dollars of one Type comprising the same Borrowing made to such Borrower into Advances denominated of the other Type or Continue Txxx Xxxxxxxxx Advances (and in Dollars the absence of another Typetimely notice of Continuation, such Term Benchmark Advances shall Convert to Base Rate Advances on the last day of the then current Interest Period); provided, however, provided that any Conversion of Term SOFR Rate Benchmark Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Term SOFR Rate Benchmark Advances, any Conversion of Base Rate Advances into Term SOFR Rate 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 Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Term SOFR Rate 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 Borrower giving such noticeCompany.

Optional Conversion of Advances. The Borrower of any Advance may on any Business Day, upon notice given to the Agent not later than 11:00 A.M. 12:00 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 2.09 2.08 and 2.132.12, Convert all Advances denominated in Dollars of one Type comprising the same Borrowing made to such Borrower into Advances denominated in Dollars of another the other Type; provided, however, that any Conversion of Term SOFR Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Term SOFR Rate Advances, any Conversion of Base Rate Advances into Term 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(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 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 Borrower giving such noticeBorrower.

Optional Conversion of Advances. The Borrower of any Advance may on any Business Day, upon notice given to the Administrative Agent, which may be given by (a) telephone or (b) an Advance Notice; provided that any telephonic notice must be confirmed promptly by delivery to the Administrative Agent of an Advance Notice. Each such Advance Notice must be received by the Administrative Agent not later than 11:00 A.M. 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 2.09 and 2.13, Convert all Advances denominated in Dollars of one Type comprising the same Borrowing made to such Borrower into Advances denominated in Dollars of another the other Type; provided, however, that any Conversion of Term SOFR Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Term SOFR Rate Advances, any Conversion of Base Rate Advances into Term SOFR Advances or SOFR Daily Floating 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 Term SOFR Borrowings and/or SOFR Daily Floating Rate Advances 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 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 Borrower giving such notice.

Optional Conversion of Advances. The Borrower of any Advance may on any Business Day, upon notice given to the Administrative Agent in substantially the form of Exhibit C not later than 11:00 A.M. (New York City time) on the third U.S. Government Securities second Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.09 2.8 and 2.133.1, Convert all Advances denominated in Dollars of one Type comprising the same Borrowing made to such Borrower into Advances denominated in Dollars of another the other Type; provided, however, that any Conversion of Term SOFR LIBO Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Term SOFR LIBO Rate Advances, any Conversion of Base Rate Advances into Term SOFR LIBO Rate 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 Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Term SOFR LIBO Rate Advances, the 925 duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the Borrower giving such noticeBorrower.

Optional Conversion of Advances. The Borrower of any Advance may on any Business Day, upon notice given to the 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 2.09 2.08, 2.12 and 2.132.20, Convert all Advances denominated in Dollars of one Type comprising the same Borrowing made to such Borrower into Advances denominated in Dollars of another the other Type; provided, however, that any Conversion of Term SOFR Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Term SOFR Rate Advances, any Conversion of Base Rate Advances into 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 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 Borrower giving such noticeBorrower.

Optional Conversion of Advances. The Borrower of any Advance may on any Business Day, upon notice given to the 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 2.09 2.07, 2.11 and 2.132.21, Convert all 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 another the other Type; provided, however, that any Conversion of Term SOFR Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Term SOFR Rate Advances, any Conversion of Base Rate Advances into 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 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 Borrower giving such notice.

Optional Conversion of Advances. The Borrower of any Advance may on any Business Day, upon notice given to the Agent not later than 11:00 A.M. (New York City time) 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 U.S. Government Securities Business Day prior to the effective date of the proposed Conversion such election, and subject to the provisions of Sections 2.09 2.08 and 2.132.12, Convert all Advances denominated in Dollars of one Type comprising the same Borrowing made to such Borrower into Advances denominated in Dollars of another the other Type; provided, however, that any Conversion of Adjusted Term SOFR Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Adjusted Term SOFR Rate Advances, any Conversion of Base Rate Advances into 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 Dollar denominated Advances to be Converted, and (iii) if such Conversion is into 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 Borrower giving such noticeBorrower.

Optional Conversion of Advances. The Borrower of any Advance may on any Business Day, upon notice given to the Administrative Agent not later than 11:00 A.M. (New York City time) 12:00 noon on the third U.S. Government Securities Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.09 2.12 and 2.132.16, Convert all or any part of Advances denominated in Dollars of one Type comprising the same Borrowing made to such Borrower into Advances denominated in Dollars of another Typethe 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 SOFR Advances or Base Rate Advances, any Conversion of Term SOFR Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Term SOFR Rate Advances, any Conversion of Base Rate Advances into 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 Term SOFR Rate Advances, the duration of the initial Interest Period for each such Advance. Each such notice of Conversion shall be irrevocable and binding on the Borrower giving such noticeBorrower.

Optional Conversion of Advances. The Borrower of any Advance may on any Business Day, upon notice given to the Agent not later than 11:00 A.M. 12:00 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 2.09 2.08 and 2.132.12, Convert all Advances denominated in Dollars of one Type comprising the same Borrowing made to such Borrower into Advances denominated in Dollars of another the other Type; provided, however, that any Conversion of Term SOFR Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Term SOFR Rate Advances, any Conversion of Base Rate Advances into Term 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 Dollar denominated Advances to be Converted, and (iii) if such Conversion is into 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 Borrower giving such noticeBorrower.

Optional Conversion of Advances. The Borrower of any Advance may on any Business Day, upon notice given to the Administrative Agent in substantially the form of Exhibit C not later than 11:00 A.M. (New York City time) on the third U.S. Government Securities second Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.09 2.8 and 2.133.1, Convert all Advances denominated in Dollars of one Type comprising the same Borrowing made to such Borrower into Advances denominated in Dollars of another the other Type; provided, however, that any Conversion of Term SOFR Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Term SOFR Rate Advances, any Conversion of Base Rate Advances into Term SOFR Rate 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 Dollar denominated Advances to be Converted, and (iii) if such Conversion is into 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 Borrower giving such noticeBorrower.