Common use of Optional Prepayments and Conversions or Continuations of Loans Clause in Contracts

Optional Prepayments and Conversions or Continuations of Loans. Subject to Section 4.04 hereof, the Borrower shall have the right to prepay Loans, or to Convert Loans of one Type into Loans of another Type or Continue Loans of one Type as Loans of the same Type, at any time or from time to time, provided that: (a) the Borrower shall give the Administrative Agent notice of each such prepayment, Conversion or Continuation as provided in Section 4.05 hereof (and, upon the date specified in any such notice of prepayment, the amount to be prepaid shall become due and payable hereunder); and (b) Eurodollar Loans may be prepaid or Converted only on the last day of an Interest Period for such Loans. Notwithstanding the foregoing, and without limiting the rights and remedies of the Lenders under Section 10 hereof, in the event that any Event of Default shall have occurred and be continuing, the Administrative Agent may (and at the request of the Majority Lenders shall) suspend the right of the Borrower to Convert any Loan into a Eurodollar Loan, or to Continue any Loan as a Eurodollar Loan, in which event all Eurodollar Loans shall be Converted (on the last day(s) of the respective Interest Periods therefor) into Base Rate Loans.

Appears in 2 contracts

Samples: Credit Agreement (Rutherford-Moran Oil Corp), Credit Agreement (Rutherford-Moran Oil Corp)

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Optional Prepayments and Conversions or Continuations of Loans. Subject to Section Sections 4.04 and 5.05 hereof, the Borrower shall have the right Loans may from time to prepay Loanstime be prepaid, or to Convert and Syndicated Loans of may be Converted from one Type of Syndicated Loans into Loans of another Type or Continue Loans of one Type and may be Continued as Syndicated Loans of the same Type, at any time or from time to time, provided that: (a) , the Borrower Company shall give the Administrative Agent notice of each such prepayment, Conversion or Continuation as provided in Section 4.05 hereof (and, upon the date specified in any such notice of prepayment, the amount to be prepaid shall become due and payable hereunder); and (b) Eurodollar Loans may be prepaid or Converted only on the last day of an Interest Period for such Loans. Notwithstanding the foregoing, and without limiting the rights and remedies of the Lenders Banks under Section 10 hereof9, in the event that if any Event of Default shall have has occurred and be continuing, is continuing and the Administrative Agent may (and whether at its own election or at the request direction of the Majority Lenders shallBanks) suspend so notifies the Company, then, so long as an Event of Default is continuing (i) the right of the Borrower Company to Convert any Loan into a Eurodollar Loan, or to Continue any Loan as a Eurodollar Loan, in which event shall be suspended and (ii) all Eurodollar Loans shall be Converted (on the last day(s) of the respective Interest Periods therefor) into into, or Continued as, as the case may be, Base Rate Loans.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Motorola Solutions, Inc.), Revolving Credit Agreement (Motorola Solutions, Inc.)

Optional Prepayments and Conversions or Continuations of Loans. Subject to Section 4.04 hereof, the Borrower Company shall have the right to prepay Loans, or to Convert Loans of one Type into Loans of another Type or Continue Loans of one Type as Loans of the same Type, at any time or from time to time, provided PROVIDED that: (a) the Borrower Company shall give the Administrative Agent notice of each such prepayment, Conversion or Continuation as provided in Section 4.05 hereof (and, upon the date specified in any such notice of prepayment, the amount to be prepaid shall become due and payable hereunder); and (b) Eurodollar Loans may be prepaid or Converted only on the last day of an Interest Period for such Loans. Notwithstanding the foregoing, and without limiting the rights and remedies of the Lenders Banks under Section 10 hereof, in the event that any Event of Default shall have occurred and be continuing, the Administrative Agent may (and at the request of the Majority Lenders Banks shall) by notice to the Company suspend the right of the Borrower Company to Convert any Loan into a Eurodollar Loan, or to Continue any Loan as a Eurodollar Loan, in which event all Eurodollar Loans shall be Converted (on the last day(s) of the respective Interest Periods therefor) into or Continued, as the case may be, as Base Rate Loans.

Appears in 2 contracts

Samples: Credit Agreement (Forest Oil Corp), Credit Agreement (Forest Oil Corp)

Optional Prepayments and Conversions or Continuations of Loans. Subject to Sections 4.04 and Section 4.04 5 hereof, the Borrower shall have the right to prepay Loans, or to Convert Loans of one Type into Loans of another Type or Continue Loans of one Type as Loans of the same Type, at any time or from time to time, provided that: (a) that the Borrower shall give the Administrative Agent notice of each such prepayment, Conversion or Continuation as provided in Section 4.05 hereof (and, upon the date specified in any such notice of prepayment, the amount to be prepaid shall become due and payable hereunder); and (b) . No Eurodollar Loans Loan, LC Loan or BA Loan, may be prepaid or Converted only on without the last day prior consent of an Interest Period for the Bank holding such LoansLoan. Notwithstanding the foregoing, and without limiting the rights and remedies of the Lenders Banks under Section 10 hereof, in the event that any Event of Default shall have occurred and be continuing, the Administrative Agent may (and at the request of the Majority Lenders Banks shall) suspend the right of the Borrower to Convert any Loan into a Eurodollar Loan, LC Loan or BA Loan, or to Continue any Loan as Eurodollar Loan, a Eurodollar LC Loan or BA Loan, in which event all Eurodollar Loans shall be Converted (on the last day(s) of the respective Interest Periods thereforApplicable Periods) into or Continued, as the case may be, as US Base Rate Loans, in the case of Loans outstanding in US Dollars, and as Cdn Prime Rate Loans in the case of Loans outstanding as BA Loans.

Appears in 1 contract

Samples: Credit Agreement (Bowater Inc)

Optional Prepayments and Conversions or Continuations of Loans. Subject to Section 4.04 hereof, the Borrower Company shall have the right to prepay Loans, or to Convert Loans of one Type into Loans of another Type or Continue Loans of one Type as Loans of the same Type, at any time or from time to time, provided that: (a) the Borrower Company shall give the Administrative Agent notice of each such -------- prepayment, Conversion or Continuation as provided in Section 4.05 hereof (and, upon the date specified in any such notice of prepayment, the amount to be prepaid shall become due and payable hereunder); and (b) Eurodollar Loans may be prepaid or Converted only on the last day of an Interest Period for such Loans. Notwithstanding the foregoing, and without limiting the rights and remedies of the Lenders under Section 10 hereof, in the event that any Event of Default shall have occurred and be continuing, the Administrative Agent may (and at the request of the Majority Lenders shall) suspend the right of the Borrower Company to Convert any Loan into a Eurodollar Loan, or to Continue any Loan as a Eurodollar Loan, in which event all Eurodollar Loans shall be Converted (on the last day(s) of the respective Interest Periods therefor) into or Continued, as the case may be, as Base Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Circor International Inc)

Optional Prepayments and Conversions or Continuations of Loans. Subject to Section 4.04 hereof, the Borrower Company shall have the right to prepay Loans, or to Convert Loans of one Type into Loans of another Type or Continue Loans of one Type as Loans of the same Type, at any time or from time to time, provided that: (a) the Borrower Company shall give the Administrative Agent notice of each such prepayment, Conversion or Continuation as provided in Section 4.05 hereof (and, upon the date specified in any such notice of prepayment, the amount to be prepaid shall become due and payable hereunder); and (b) Eurodollar Loans may be prepaid or Converted only on the last day of an Interest Period for such Loans. Notwithstanding the foregoing, and without limiting the rights and remedies of the Lenders under Section 10 9 hereof, in the event that any Event of Default shall have occurred and be continuing, the Administrative Agent may (and at the request of the Majority Lenders shall) suspend the right of the Borrower Company to Convert any Loan into a Eurodollar Loan, or to Continue any Loan as a Eurodollar Loan, shall be suspended, in which event all Eurodollar Loans shall be Converted (on the last day(s) of the respective Interest Periods therefor) into into, or Continued as, as the case may be, Base Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Ohio Casualty Corp)

Optional Prepayments and Conversions or Continuations of Loans. Subject to Section Sections 4.04 and 5.05 hereof, the Borrower shall have the right Syndicated Loans may from time to prepay Loanstime be prepaid, or to Convert Loans of may be Converted from one Type of Syndicated Loans into Loans of another Type or Continue Loans of one Type and may be Continued as Syndicated Loans of the same Type, at any time or from time to time, provided that: (a) , the Borrower Company shall give the Administrative Agent notice of each such prepayment, Conversion or Continuation as provided in Section 4.05 hereof (and, upon the date specified in any such notice of prepayment, the amount to be prepaid shall become due and payable hereunder); and (b) Eurodollar . Money Market Loans may not be prepaid or Converted only on the last day of an Interest Period for such Loansprepaid. Notwithstanding the foregoing, and without limiting the rights and remedies of the Lenders Banks under Section 10 hereof9, in the event that if any Event of Default shall have has occurred and be continuing, is continuing and the Administrative Agent may (and whether at its own election or at the request direction of the Majority Lenders shallBanks) suspend so notifies the Company, then, so long as an Event of Default is continuing (i) the right of the Borrower Company to Convert any Loan into a Eurodollar Loan, or to Continue any Loan as a Eurodollar Loan, in which event shall be suspended and (ii) all Eurodollar Loans shall be Converted (on the last day(s) of the respective Interest Periods therefor) into into, or Continued as, as the case may be, Base Rate Loans.

Appears in 1 contract

Samples: Revolving Credit Agreement (Motorola Solutions, Inc.)

Optional Prepayments and Conversions or Continuations of Loans. (a) Subject to Section SECTION 4.04 hereof, the Borrower Company shall have the right to prepay Revolving Credit Loans, or to Convert Loans of one Type into Loans of another Type or to Continue Loans of one Type as Loans of the same TypeEurodollar Loans, at any time or from time to time, provided that: (a) PROVIDED that the Borrower Company shall give the Administrative Agent notice of each such prepayment, Conversion or Continuation as provided in Section SECTION 4.05 hereof (and, upon the date specified in any such notice of prepayment, the amount to be prepaid shall become due and payable hereunder); and (b) Eurodollar Loans may be prepaid or Converted only on the last day of an Interest Period for such Loans. Notwithstanding the foregoing, and without limiting the rights and remedies of the Lenders under Section 10 SECTION 11 hereof, in the event that any Event of Default shall have occurred and be continuing, the Administrative Agent may (and at the request of the Majority Lenders shall) suspend the right of the Borrower Company to Convert any Base Rate Loan into a Eurodollar Loan, or to Continue any Loan as a Eurodollar Loan, in which event all Eurodollar Loans shall be Converted (on the last day(s) of the respective Interest Periods therefor) into or Continued, as the case may be, as Base Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Cornell Companies Inc)

Optional Prepayments and Conversions or Continuations of Loans. Subject to Section Sections 4.04 and 5.05 hereof, the Borrower Company shall have the right to prepay Loans, or to Convert Loans of one Type into Loans of another Type or Continue Loans of one Type as Loans of the same Type, at any time or from time to time, provided that: (a) that the Borrower Company shall give the Administrative Agent notice of each such prepayment, Conversion or Continuation as provided in Section 4.05 hereof (and, upon the date specified in any such notice of prepayment, the amount to be prepaid shall become due and payable hereunder); ) and provided further that any prepayment of the principal of the Series B Loans shall be applied to reduce the then remaining installments thereof on a pro rata basis (b) Eurodollar Loans may be prepaid or Converted only based on the last day then remaining principal amount of an Interest Period for each such Loansinstallment). Notwithstanding the foregoing, and without limiting the rights and remedies of the Lenders under Section 10 9 hereof, in the event that any Event of Default shall have occurred and be continuing, the Administrative Agent may (and at the request of the Majority Lenders shall) suspend the right of the Borrower Company to Convert any Loan into a Eurodollar Loan, or to Continue any Loan as a Eurodollar Loan, in which event all Eurodollar Loans shall be Converted (on the last day(s) of the respective Interest Periods therefor) into or Continued, as the case may be, as Base Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Be Aerospace Inc)

Optional Prepayments and Conversions or Continuations of Loans. Subject to Section Sections 4.04 and 5.05 hereof, the Borrower shall have the right Term Loans may from time to prepay Loanstime be prepaid, or to Convert Loans of may be Converted from one Type of Term Loans into Loans of another Type or Continue Loans of one Type and may be Continued as Term Loans of the same Type, at any time or from time to time, provided that: (a) , the Borrower Company shall give the Administrative Agent notice of each such prepayment, Conversion or Continuation as provided in Section 4.05 hereof (and, upon the date specified in any such notice of prepayment, the amount to be prepaid shall become due and payable hereunder); and (b) Eurodollar Loans may be prepaid or Converted only on the last day of an Interest Period for such Loans. Notwithstanding the foregoing, and without limiting the rights and remedies of the Lenders Banks under Section 10 hereof9, in the event that if any Event of Default shall have has occurred and be continuing, is continuing and the Administrative Agent may (and whether at its own election or at the request direction of the Majority Lenders shallBanks) suspend so notifies the Company, then, so long as an Event of Default is continuing (i) the right of the Borrower Company to Convert any Loan into a Eurodollar Loan, or to Continue any Loan as a Eurodollar Loan, in which event shall be suspended and (ii) all Eurodollar Loans shall be Converted (on the last day(s) of the respective Interest Periods therefor) into into, or Continued as, as the case may be, Base Rate Loans.

Appears in 1 contract

Samples: Loan Credit Agreement (Motorola Solutions, Inc.)

Optional Prepayments and Conversions or Continuations of Loans. Subject to Section 4.04 hereof, the Borrower Borrowers shall have the right to prepay Loans, or to Convert Loans of one Type into Loans of another Type or Continue Loans of one Type as Loans of the same Type, at any time or from time to time, provided that: (a) the Borrower Company shall give the Administrative Agent notice of each such prepayment, Conversion or Continuation as provided in Section 4.05 hereof (and, upon the date specified in any such notice of prepayment, the amount to be prepaid shall become due and payable hereunder); and (b) Eurodollar Loans may be prepaid or Converted only on the last day of an Interest Period for such Loans. Notwithstanding the foregoing, and without limiting the rights and remedies of the Lenders Banks under Section 10 hereof, in the event that any Event of Default shall have occurred and be continuing, the Administrative Agent may (and at the request of the Majority Lenders Banks shall) by notice to the Company suspend the right of the Borrower Borrowers to Convert any Loan into a Eurodollar Loan, or to Continue any Loan as a Eurodollar Loan, in which event all Eurodollar Loans shall be Converted (on the last day(s) of the respective Interest Periods therefor) into or Continued, as the case may be, as Base Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Forest Oil Corp)

Optional Prepayments and Conversions or Continuations of Loans. Subject to Section Sections 4.04 and 5 hereof, the Borrower shall have the right to prepay Loans, or to Convert Loans of one Type into Loans of another Type or Continue Loans of one Type as Loans of the same Type, at any time or from time to time, provided that: (a) that the Borrower shall give the Administrative Agent notice of each such prepayment, Conversion or Continuation as provided in Section 4.05 hereof (and, upon the date specified in any such notice of prepayment, the amount to be prepaid shall become due and payable hereunder); and (b) Eurodollar Loans may be prepaid or Converted only on the last day of an Interest Period for such Loans. Notwithstanding the foregoing, and without limiting the rights and remedies of the Lenders Banks under Section 10 hereof, in the event that any Event of Default shall have occurred and be continuing, the Administrative Agent may (and at the request of the Majority Lenders Banks shall) suspend the right of the Borrower to Convert any Loan into a Eurodollar Loan, or to Continue any Loan as a Eurodollar Loan, in which event all Eurodollar Loans shall be Converted (on the last day(s) of the respective Interest Periods therefor) into or Continued, as the case may be, as Base Rate Loans.

Appears in 1 contract

Samples: Bridge Credit Agreement (Bowater Inc)

Optional Prepayments and Conversions or Continuations of Loans. Subject to Section 4.04 hereof, the Borrower shall have Company has the right to prepay Loans, or to Convert Loans of one Type into Loans of another Type or Continue Loans of one Type as Loans of the same Type, at any time or from time to time, in whole or in part, without premium or penalty, except as may be required by Section 5 hereof, provided that: (a) the Borrower Company shall give the Administrative Agent notice of each such prepayment, Conversion or Continuation pursuant to a Notice of Prepayment, Conversion or Continuation substantially in the form of Exhibit J hereto and as provided in Section 4.05 hereof (and, upon the date specified in any such notice of prepayment, the amount to be prepaid shall become due and payable hereunder); and (b) a Eurodollar Loans Loan and a Money Market Loan may be prepaid or Converted only on the last day of an Interest Period for such LoansLoan. Notwithstanding the foregoing, and without limiting the rights and remedies of the Lenders Banks under Section 10 9 hereof, in the event that any Event of Default shall have occurred and be continuingexists, the Administrative Agent may (and at the request of the Majority Lenders Required Banks shall) suspend the right of the Borrower Company to Convert any Loan into a Eurodollar Loan or a Money Market Loan, or to Continue any Loan as a Eurodollar Loan or a Money Market Loan, in which event all Eurodollar Loans and Money Market Loans shall be Converted (on the last day(s) of the respective Interest Periods therefor) into to Base Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Empire Resources Inc /New/)

Optional Prepayments and Conversions or Continuations of Loans. Subject to Section 4.04 hereof4.04, the Borrower shall have the right to prepay Loans, or to Convert Loans of one Type into Loans of another Type or Continue Loans of one Type as Loans of the same Type, at any time or from time to timetime and in each case without premium or penalty, provided that: (a) the Borrower shall give the Administrative Agent notice of each such prepayment, Conversion or Continuation as provided in Section 4.05 hereof (and, upon the date specified in any such notice of prepayment, the amount to be prepaid shall become due and payable hereunder); and (b) Eurodollar Loans may be prepaid or Converted only on the last day of an Interest Period for such Loans; (c) prepayments of the Term Loans shall be applied to the installments of the Term Loans in the inverse order of their maturities; and (d) any Conversion into or Continuation of Eurodollar Loans shall be subject to the provisions of Section 2.01(c). Notwithstanding the foregoing, and without limiting the rights and remedies of the Lenders under Section 10 hereof10, in the event that any Event of Default shall have occurred and be continuing, the Administrative Agent may (and at the request of the Majority Lenders shall) suspend the right of the Borrower to Convert any Loan into a Eurodollar Loan, or to Continue any Loan as a Eurodollar Loan, in which event all Eurodollar Loans shall be Converted (on the last day(s) of the respective Interest Periods therefor) into Base Rate Loans.Credit Agreement ----------------

Appears in 1 contract

Samples: Credit Agreement (International Telecommunication Data Systems Inc)

Optional Prepayments and Conversions or Continuations of Loans. Subject to Section 4.04 hereof, the Borrower Company shall have the right to prepay Loans, or to Convert Loans of one Type into Loans of another Type or Continue Loans of one Type as Loans of the same Type, at any time or from time to time, provided that: (a) the Borrower Company shall give the Administrative Agent notice of -------- each such prepayment, Conversion or Continuation as provided in Section 4.05 hereof (and, upon the date specified in any such notice of prepayment, the amount to be prepaid shall become due and payable hereunder); and (b) if any Eurodollar Loans may be Loan is prepaid or Converted only other than on the last day of an Interest Period for such LoansLoan, the Company shall pay to the Administrative Agent for account of each Bank the amounts, if any, required to be paid pursuant to Section 5.05 hereof. Notwithstanding the foregoing, and without limiting the rights and remedies of the Lenders Banks under Section 10 9 hereof, in the event that any Event of Default shall have occurred and be continuing, the Administrative Agent may (and at the request of the Majority Lenders Banks shall) suspend the right of the Borrower Company to Convert any Loan into a Eurodollar Loan, or to Continue any Loan as a Eurodollar Loan, in which event all Eurodollar Loans shall be Converted (on the last day(s) of the respective Interest Periods therefor) into into, or Continued as, as the case may be, Base Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Provident Companies Inc /De/)

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Optional Prepayments and Conversions or Continuations of Loans. Subject to Section Sections 4.04 and 5.05 hereof, the Borrower Company shall have the right to prepay Loans, or to Convert Loans of one Type into Loans of another Type or Continue Loans of one Type as Loans of the same Type, at any time or from time to time, provided that: (a) that the Borrower Company shall give the Administrative Agent notice of each such prepayment, Conversion or Continuation as provided in Section 4.05 hereof (and, upon the date specified in any such notice of prepayment, the amount to be prepaid shall become due and payable hereunder); and (b) Eurodollar Loans may be prepaid or Converted only on the last day of an Interest Period for such Loans. Notwithstanding the foregoing, and without limiting the rights and remedies of the Lenders under Section 10 9 hereof, in the event that any Event of Default shall have occurred and be continuing, the Administrative Agent may (and at the request of the Majority Lenders shall) suspend the right of the Borrower Company to Convert any Loan into a Eurodollar Loan, or to Continue any Loan as a Eurodollar Loan, in which event all Eurodollar Loans shall be Converted (on the last day(s) of the respective Interest Periods therefor) into or Continued, as the case may be, as Base Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Be Aerospace Inc)

Optional Prepayments and Conversions or Continuations of Loans. Subject to Section 4.04 hereof, the Borrower Company shall have the right to prepay Loans, or to Convert Loans of one Type into Loans of another the other Type or Continue Loans of one Type as Loans of the same Type, at any time or from time to time, provided that: (a) that the Borrower Company shall give the Administrative Agent notice of each such prepayment, Conversion or Continuation as provided in Section 4.05 hereof (and, upon the prepayment date specified in any such notice of prepayment, the amount to be prepaid shall become due and payable hereunder); and (b) Eurodollar Loans may be prepaid or Converted only on the last day of an Interest Period for such Loans. Notwithstanding the foregoing, and without limiting the rights and remedies of the Lenders under Section 10 hereof, in the event that any Event of Default shall have occurred and be continuing, the Administrative Agent may (and at the request of the Majority Lenders shall) suspend the right of the Borrower Company to borrow any Loan as a Eurodollar Loan, to Convert any Loan into a Eurodollar Loan, Loan or to Continue any Loan as a Eurodollar Loan, in which event all Eurodollar Loans then outstanding shall be Converted (on the last day(s) of the respective Interest Periods therefor) into Base Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Barnes & Noble Inc)

Optional Prepayments and Conversions or Continuations of Loans. (a) Subject to Section Sections 4.04 and 5.04 hereof, the Borrower shall have the right to prepay Loans, Loans or to Convert Loans of one Type into Loans of another Type or Continue Loans of one Type as Loans of the same Type, at any time or from time to time, provided that: (a) the Borrower shall give the Administrative Agent notice of each such prepayment, prepayment or Conversion or Continuation as provided in Section 4.05 hereof (and, upon the date specified in any such notice of prepayment, the amount to be prepaid shall become due and payable hereunder); and . (b) Eurodollar Loans may be prepaid or Converted only on the last day of an Interest Period for such Loans. Notwithstanding the foregoingforegoing provisions of this Section 2.08, and without limiting the rights and remedies of the Lenders Banks under Section 10 9 hereof, in the event that any Event of Default shall have occurred and be continuing, the Administrative Agent may (and at the request of the Majority Lenders Banks, shall) (i) suspend the right of the Borrower to Convert any Loan into a Eurodollar Eurocurrency Loan, or to Continue any Loan as a Eurodollar Eurocurrency Loan, in which event all Eurodollar Loans denominated in Dollars shall be Converted (on the last day(s) day of the respective Interest Periods Period therefor) into or Continued, as the case may be, as Base Rate LoansLoans and/or (ii) suspend the right of the Borrower to have any Loan have an Interest Period of more than one month’s duration. Section 3.

Appears in 1 contract

Samples: Version Credit Agreement (Pitney Bowes Inc /De/)

Optional Prepayments and Conversions or Continuations of Loans. Subject to Section 4.04 hereof, the Borrower Company shall have the right to prepay Loans, or to Convert Loans of one Type into Loans of another Type or Continue Loans of one Type as Loans of the same Type, at any time or from time to time, in whole or in part, without premium or penalty, except as may be required by Section 5 hereof, provided that: (a) the Borrower Company shall give the Administrative Agent notice of each such prepayment, Conversion or Continuation as provided in Section 4.05 hereof (and, upon the date specified in any such notice of prepayment, the amount to be prepaid shall become due and payable hereunder); and (b) a Eurodollar Loans Loan and a Money Market Loan may be prepaid or Converted only on the last day of an Interest Period for such LoansLoan. Notwithstanding the foregoing, and without limiting the rights and remedies of the Lenders Banks under Section 10 9 hereof, in the event that any Event of Default shall have occurred and be continuing, the Administrative Agent may (and at the request of the Majority Lenders Required Banks shall) suspend the right of the Borrower Company to Convert any Loan into a Eurodollar Loan or a Money Market Loan, or to Continue any Loan as a Eurodollar Loan or a Money Market Loan, in which event all Eurodollar Loans and Money Market Loans shall be Converted (on the last day(s) of the respective Interest Periods therefor) into or Continued, as the case may be, as Base Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Empire Resources Inc /New/)

Optional Prepayments and Conversions or Continuations of Loans. Subject to Section Sections 4.04 and 5.05 hereof, the Borrower shall have the right Syndicated Loans may from time to prepay Loanstime be prepaid, or to Convert Loans of may be Converted from one Type of Syndicated Loans into Loans of another Type or Continue Loans of one Type and may be Continued as Syndicated Loans of the same Type, at any time or from time to time, provided that: (a) , the Borrower Company shall give the Administrative Agent notice of each such prepayment, Conversion or Continuation as provided in Section 4.05 hereof (and, upon the date specified in any such notice of prepayment, the amount to be prepaid shall become due and payable hereunder); and (b) Eurodollar . Money Market Loans may not be prepaid or Converted only on the last day of an Interest Period for such Loansprepaid. Notwithstanding the foregoing, and without limiting the rights and remedies of the Lenders Banks under Section 10 hereof9, in the event that if any Event of Default shall have has occurred and be continuing, is continuing and the Administrative Agent may (and whether at its own election or at the request direction of the Majority Lenders shallBanks) suspend so notifies the Company, then, so long as an Event of Default is continuing (i) the right of the Borrower Company to Convert any Loan into a Eurodollar Loan, or to Continue any Loan as a Eurodollar Loan, in which event shall be suspended and (ii) all Eurodollar Loans shall be Converted (on the last day(s) of the respective Interest Periods therefor) into into, or Continued as, as the case may be, Base Rate Loans.

Appears in 1 contract

Samples: Revolving Credit Agreement (Motorola Solutions, Inc.)

Optional Prepayments and Conversions or Continuations of Loans. Subject to Section Sections 4.04 and 5.05 hereof, the Borrower shall have the right Loans may from time to prepay Loanstime be prepaid, or to Convert and Syndicated Loans of may be Converted from one Type of Syndicated Loans into Loans of another Type or Continue Loans of one Type and may be Continued as Syndicated Loans of the same Type, at any time or from time to time, provided that: (a) , the Borrower Company shall give the Administrative Agent notice of each such prepayment, Conversion or Continuation as provided in Section 4.05 hereof (and, upon the date specified in any such notice of prepayment, the amount to be prepaid shall become due and payable hereunder); and (b) Eurodollar Loans may be prepaid or Converted only on the last day of an Interest Period for such Loans. Notwithstanding the foregoing, and without limiting the rights and remedies of the Lenders Banks under Section 10 hereof9, in the event that if any Event of Default shall have has occurred and be continuing, is continuing and the Administrative Agent may (and whether at its own election or at the request direction of the Majority Lenders shallBanks) suspend so notifies the Company, then, so long as an Event of Default is continuing (i) the right of the Borrower Company to Convert any Loan into a Eurodollar EurodollarTerm Benchmark Loan or an RFR Loan, as applicable, or to Continue any Loan as a Eurodollar EurodollarTerm Benchmark Loan or an RFR Loan, in which event as applicable, shall be suspended and (ii) all Eurodollar Loans shall be Converted (on the last day(s) of the respective Interest Periods therefor) into into, or Continued as, as the case may be, Base Rate Loans.

Appears in 1 contract

Samples: Revolving Credit Agreement (Motorola Solutions, Inc.)

Optional Prepayments and Conversions or Continuations of Loans. Subject to Section 4.04 hereof, the Borrower Company shall have the right to prepay Loans, or to Convert Loans of one Type into Loans of another the other Type or Continue Loans of one Type as Loans of the same TypeEurodollar Loans, at any time or from time to time, provided PROVIDED that: (a) the Borrower Company shall give the Administrative Agent notice of each such prepayment, Conversion or Continuation as provided in Section 4.05 hereof (and, upon the date specified in any such notice of prepayment, the amount to be prepaid shall become due and payable hereunder); and (b) Eurodollar prepayments of the Term Loans shall be applied to the installments of the Term Loans in the inverse order of their maturities; and (c) Swingline Loans may only be prepaid or Converted only on the last day of an Interest Period for such Base Rate Loans. Notwithstanding the foregoing, and without limiting the rights and remedies of the Lenders under Section 10 hereof, in the event that any Event of Default shall have occurred and be continuing, the Administrative Agent may (and at the request of the Majority Lenders shall) suspend the right of the Borrower Company to Convert any Loan into a Eurodollar Loan, or to Continue any Loan as a Eurodollar Loan, in which event all Eurodollar Loans shall be Converted (on the last day(s) of the respective Interest Periods therefor) into or Continued, as the case may be, as Base Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Decrane Aircraft Holdings Inc)

Optional Prepayments and Conversions or Continuations of Loans. Subject to Section 4.04 hereof4.04, the Borrower Company shall have the right to prepay Loans, or to Convert Loans of one Type into Loans of another Type or to Continue Loans of one Type as Loans of the same Type, at any time or from time to time, provided that: (a) the Borrower Company shall give the Administrative 36 Agent notice of each such prepayment, Conversion or Continuation as provided in Section 4.05 hereof (and, upon the date specified in any such notice of prepayment, the amount to be prepaid shall become due and payable hereunderunder this Agreement); and (b) Eurodollar Loans may be prepaid or Converted only on the last day of an Interest Period for such Loans; and (c) no Loan may be Converted into a Eurodollar Loan until December 26, 1995. Notwithstanding the foregoing, and without limiting the rights and remedies of the Lenders under Section 10 hereof9, in the event that any Event of Default shall have occurred and be continuing, the Administrative Agent may (and at the request of the Majority Lenders shall) suspend the right of the Borrower Company to Convert any Loan into a Eurodollar Loan, or to Continue any Loan as a Eurodollar Loan, in which event all Eurodollar Loans shall be Converted into (on the last day(s)) of the their respective Interest Periods thereforPeriods) into Base or Continued as, as the case may be, Prime Rate Loans.

Appears in 1 contract

Samples: Security Agreement (Kash N Karry Food Stores Inc)

Optional Prepayments and Conversions or Continuations of Loans. (a) Subject to Section 4.04 hereof, the Borrower Company shall have the right to prepay Revolving Credit Loans, or to Convert Loans of one Type into Loans of another Type or to Continue Loans of one Type as Loans of the same TypeEurodollar Loans, at any time or from time to time, provided that: (a) PROVIDED that the Borrower Company shall give the Administrative Agent notice of each such prepayment, Conversion or Continuation as provided in Section 4.05 hereof (and, upon the date specified in any such notice of prepayment, the amount to be prepaid shall become due and payable hereunder); and (b) Eurodollar Loans may be prepaid or Converted only on the last day of an Interest Period for such Loans. Notwithstanding the foregoing, and without limiting the rights and remedies of the Lenders under Section 10 11 hereof, in the event that any Event of Default shall have occurred and be continuing, the Administrative Agent may (and at the request of the Majority Lenders shall) suspend the right of the Borrower Company to Convert any Base Rate Loan into a Eurodollar Loan, or to Continue any Loan as a Eurodollar Loan, in which event all Eurodollar Loans shall be Converted (on the last day(s) of the respective Interest Periods therefor) into or Continued, as the case may be, as Base Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Cornell Corrections Inc)

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