Common use of Optional Conversion of Revolving Credit Advances Clause in Contracts

Optional Conversion of Revolving Credit Advances. Each Borrower may on any Business Day on which no Default has occurred and is continuing, upon notice given to the Administrative Agent not later than 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 of Base Rate Advances into Eurodollar Rate Advances or of Eurodollar Rate Advances of one Interest Period into Eurodollar Rate Advances of another Interest Period, or not later than 1:00 P.M. (New York City time) on the same Business Day as the date of the proposed Conversion in the case of a Conversion of Eurodollar Rate Advances into Base Rate Advances, and, in any case, subject to the provisions of Sections 2.07, 2.08 and 2.12, Convert all Revolving Credit Advances comprising one or more Borrowings into one or more Borrowings comprised of Revolving Credit Advances; provided, however, that: (a) No Conversion of Revolving Credit Advances shall result in (i) any Revolving Credit Borrowing failing to comply with the second sentence of Section 2.01 or (ii) the aggregate principal amount of all outstanding Revolving Credit Advances, and the aggregate Face Amount of all outstanding Discounted Notes, at the time of such Conversion exceeding the aggregate Commitments of the Lenders at such time; and (b) In the case of any Conversion of Eurodollar Rate Advances of one Interest Period into Eurodollar Rate Advances of another Interest Period or of Eurodollar Rate Advances into Base Rate Advances other than on the last day of an Interest Period therefor, the Borrower requesting such Conversion 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 (which shall be a Business Day), (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 Revolving Credit Advance. Each notice of Conversion shall be irrevocable and binding on the Borrower requesting such Conversion.

Optional Conversion of Revolving Credit Advances. Each Borrower may on any Business Day on which no Default has occurred and is continuingDay, upon notice given to the Administrative Agent not later than 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 of Base Rate Advances into Eurodollar Rate Advances or of Eurodollar Rate Advances of one Interest Period into Eurodollar Rate Advances of another Interest Period, or not later than 1:00 P.M. (New York City time) on the same Business Day as the date of the proposed Conversion in the case of a Conversion of Eurodollar Rate Advances into Base Rate Advances, and, in any case, and subject to the provisions of Sections 2.07, 2.08 and 2.12, Convert all Revolving Credit Advances denominated in Dollars of one Type comprising one or more Borrowings the same Borrowing into one or more Borrowings comprised of Revolving Credit AdvancesAdvances denominated in Dollars of the other Type; provided, however, that: (a) No Conversion of Revolving Credit Advances shall result in (i) any Revolving Credit Borrowing failing to comply with the second sentence of Section 2.01 or (ii) the aggregate principal amount of all outstanding Revolving Credit Advances, and the aggregate Face Amount of all outstanding Discounted Notes, at the time of such Conversion exceeding the aggregate Commitments of the Lenders at such time; and (b) In the case of that any Conversion of Eurodollar Rate Advances of one Interest Period into Eurodollar Rate Advances of another Interest Period or of Eurodollar Eurocurrency Rate Advances into Base Rate Advances other than shall be made only on the last day of an Interest Period thereforfor such Eurocurrency Rate Advances, the Borrower requesting such any Conversion of Base Rate Advances into Eurocurrency Rate Advances shall be obligated to reimburse in an amount not less than the Lenders minimum amount specified in respect thereof pursuant to Section 9.04(c2.02(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 (which shall be a Business Day)Conversion, (ii) the Dollar denominated Revolving Credit 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 Revolving Credit Advance. Each notice of Conversion shall be irrevocable and binding on the Borrower requesting giving such notice. In the case of any Conversion of Base Rate Advances into Eurodollar Rate Advances, the applicable Borrower shall indemnify each Lender against any loss, cost or expense incurred by such Lender as a result of any revocation of such notice of Conversion, including, without limitation, any loss, cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Lender to fund the Revolving Credit Advance to be Converted by such Lender as a result of such revocation.

Optional Conversion of Revolving Credit Advances. Each The ------------------------------------------------ Borrower may on any Business Day on which no Default has occurred and is continuingDay, upon notice given to the Administrative Agent not later than 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 of Base Rate Advances into Eurodollar Rate Advances or of Eurodollar Rate Advances of one Interest Period into Eurodollar Rate Advances of another Interest Period, or not later than 1:00 P.M. (New York City time) on the same Business Day as the date of the proposed Conversion in the case of a Conversion of Eurodollar Rate Advances into Base Rate Advances, and, in any case, and subject to the provisions of Sections 2.072.08, 2.08 2.09 and 2.12, Convert all Revolving Credit Advances of one Type comprising one or more Borrowings the same Borrowing into one or more Borrowings comprised of Revolving Credit AdvancesAdvances of the other Type; provided, however, that: (a) No Conversion of Revolving Credit Advances shall result in (i) in any Revolving Credit Borrowing failing to comply with the second sentence of Section 2.01 or in more separate Revolving Credit Borrowings than are permitted under Section 2.02(b) or (ii) in the aggregate principal amount of all Advances outstanding Revolving Credit Advances, and the aggregate Face Amount of all outstanding Discounted Notes, at the time of such Conversion exceeding the aggregate Commitments of the Lenders at such time; (b) No Eurocurrency Rate Advances of one currency shall be Converted into Eurocurrency Rate Advances of another currency; and (bc) In the case of any Conversion of Eurodollar Eurocurrency Rate Advances of one Interest Period into Eurodollar Eurocurrency Rate Advances of another Interest Period or of Eurodollar Eurocurrency Rate Advances into Base Rate Advances other than on the last day of an Interest Period therefor, the Borrower requesting such Conversion shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 9.04(c8.04(c). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion (which shall be a Business Day), (ii) the Revolving Credit Advances to be Converted Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the currency and the duration of the initial Interest Period for each such Revolving Credit Advance. Each notice of Conversion shall be irrevocable and binding on the Borrower requesting such ConversionBorrower.

Optional Conversion of Revolving Credit Advances. Each The Borrower may on any Business Day on which no Default has occurred and is continuingmay, upon notice given subject to the Administrative Agent not provisions of Sections 2.07 and 2.11, Convert all or any portion of Revolving Credit Advances of one Type comprising the same Revolving Credit Borrowing into Revolving Credit Advances of the other Type; provided, however, that (a) any such Conversion of (i) Base Rate Advances into Eurocurrency Rate Advances or of Eurocurrency Rate Advances of one Interest Period into Eurocurrency Rate Advances of another Interest Period shall be made on notice received no later than 11:00 A.M. (New York City London time) on the third second Business Day prior to the date of the proposed Conversion in the case of a Conversion of Conversion, or (ii) Eurocurrency Rate Advances into Base Rate Advances into Eurodollar Rate Advances or of Eurodollar Rate Advances of one Interest Period into Eurodollar Rate Advances of another Interest Period, or not shall be made on notice received no later than 1:00 P.M. 10:00 A.M. (New York City time) on the same Business Day as the date of the proposed Conversion in the case of a Conversion of Eurodollar Rate Advances into Base Rate AdvancesConversion, and, in any case, subject to the provisions of Sections 2.07, 2.08 and 2.12, Convert all Revolving Credit Advances comprising one or more Borrowings into one or more Borrowings comprised of Revolving Credit Advances; provided, however, that: (a) No Conversion of Revolving Credit Advances shall result in (i) any Revolving Credit Borrowing failing to comply with the second sentence of Section 2.01 or (ii) the aggregate principal amount of all outstanding Revolving Credit Advances, and the aggregate Face Amount of all outstanding Discounted Notes, at the time of such Conversion exceeding the aggregate Commitments of the Lenders at such time; and (b) In in the case of any Conversion of Eurodollar Rate Advances of one Interest Period into Eurodollar Rate Advances of another Interest Period or of Eurodollar Rate Advances into Base Eurocurrency Rate Advances other than on the last day of an Interest Period therefor, the Borrower requesting such Conversion shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 9.04(c), (c) any Conversion of Base Rate Advances into Eurocurrency Rate Advances shall be in an amount not less than $10,000,000, and (d) the Borrower may not Convert (i) Base Rate Advances into Eurocurrency Rate Advances denominated in Euros or (ii) Eurocurrency Rate Advances denominated in Euros into Base Rate Advances. Any Conversion of a Revolving Credit Advance from one Optional Currency to the other Optional Currency shall be based on an Equivalent amount of Dollars or Euros, as the case may be. Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion (which shall be a Business Day)Conversion, (ii) the Revolving Credit Advances to be Converted Converted, (iii) the Optional Currency (if different than the Optional Currency of the Revolving Credit Advance being Converted), and (iiiiv) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Revolving Credit Eurocurrency Rate Advance. Each notice of Conversion shall be irrevocable and binding on the Borrower requesting such ConversionBorrower.

Optional Conversion of Revolving Credit Advances. Each Borrower may on any Business Day on which no Default has occurred and is continuing, upon notice given to the Administrative Agent not later than 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 of Base Rate Advances into Eurodollar Rate Advances or of Eurodollar Rate Advances of one Interest Period into Eurodollar Rate Advances of another Interest Period, or not later than 1:00 P.M. (New York City time) on the same Business Day as the date of the proposed Conversion in the case of a Conversion of Eurodollar Rate Advances into Base Rate Advances, and, in any case, subject to the provisions of Sections 2.072.08, 2.08 2.09 and 2.122.13, Convert all Revolving Credit Advances comprising one or more Borrowings into one or more Borrowings comprised of Revolving Credit Advances; provided, however, that: (a) No Conversion of Revolving Credit Advances shall result in (i) any Revolving Credit Borrowing failing to comply with the second sentence of Section 2.01 or (ii) the aggregate principal amount of all outstanding Revolving Credit Advances, and the aggregate Face Amount of all outstanding Discounted Notes, at the time of such Conversion exceeding the aggregate Revolving Credit Commitments of the Lenders at such time; and (b) In the case of any Conversion of Eurodollar Rate Advances of one Interest Period into Eurodollar Rate Advances of another Interest Period or of Eurodollar Rate Advances into Base Rate Advances other than on the last day of an Interest Period therefor, the Borrower requesting such Conversion 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 (which shall be a Business Day), (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 Revolving Credit Advance. Each notice of Conversion shall be irrevocable and binding on the Borrower requesting such Conversion.

Optional Conversion of Revolving Credit Advances. Each The Borrower may on any Business Day on which no Default has occurred and is continuingDay, upon notice given to the Administrative Agent not later than 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 of Base Rate Advances into Eurodollar Rate Advances or of Eurodollar Rate Advances of one Interest Period into Eurodollar Rate Advances of another Interest Period, or not later than 1:00 P.M. (New York City time) on the same Business Day as the date of the proposed Conversion in the case of a Conversion of Eurodollar Rate Advances into Base Rate Advances, and, in any case, and subject to the provisions of Sections 2.072.08, 2.08 2.09 and 2.12, Convert all Revolving Credit Advances of one Type comprising one or more Borrowings the same Borrowing into one or more Borrowings comprised of Revolving Credit AdvancesAdvances of the other Type; provided, however, that: (a) No Conversion of Revolving Credit Advances shall result in (i) in any Revolving Credit Borrowing failing to comply with the second sentence of Section 2.01 or in more separate Revolving Credit Borrowings than are permitted under Section 2.02(b) or (ii) in the aggregate principal amount of all Advances outstanding Revolving Credit Advances, and the aggregate Face Amount of all outstanding Discounted Notes, at the time of such Conversion exceeding the aggregate Commitments of the Lenders at such time; (b) No Eurocurrency Rate Advances of one currency shall be Converted into Eurocurrency Rate Advances of another currency; and (bc) In the case of any Conversion of Eurodollar Eurocurrency Rate Advances of one Interest Period into Eurodollar Eurocurrency Rate Advances of another Interest Period or of Eurodollar Eurocurrency Rate Advances into Base Rate Advances other than on the last day of an Interest Period therefor, the Borrower requesting such Conversion shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 9.04(c8.04(c). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion (which shall be a Business Day), (ii) the Revolving Credit Advances to be Converted Converted, and (iii) if such Conversion is into Eurodollar Eurocurrency Rate Advances, the currency and the duration of the initial Interest Period for each such Revolving Credit Advance. Each notice of Conversion shall be irrevocable and binding on the Borrower requesting such ConversionBorrower.