Common use of Optional Prepayments and Conversions Clause in Contracts

Optional Prepayments and Conversions. The Company shall have the right to prepay Committed Loans or to convert Committed Loans of one Type into Committed Loans of another Type, at any time or from time to time, provided that: (i) the Company shall give the Administrative Agent notice of each such prepayment or conversion as provided in Section 5.05 hereof, and (ii) except to the extent required pursuant to Section 6.04 hereof, Fixed Rate Loans may be prepaid or converted only on the last day of an Interest Period for such Loans. The Company may not prepay Competitive Loans or convert Competitive Loans from one Type to a different Type, except that the Company may prepay Competitive Loans to the extent required pursuant to Section 3.02(b).

Optional Prepayments and Conversions. The Company shall have the right to prepay Committed Revolving Loans or to convert Committed Revolving Loans of one Type into Committed Revolving Loans of another Type, at any time or from time to time, provided that: (i) the Company shall give the Administrative Agent notice of each such prepayment or conversion as provided in Section 5.05 hereof, and (ii) except to the extent required pursuant to Section 6.04 hereof, Fixed Rate Loans may be prepaid or converted only on the last day of an Interest Period for such Loans. The Company may not prepay Competitive Loans or convert Competitive Loans from one Type to a different Type, except that the Company may prepay Competitive Loans to the extent required pursuant to Section 3.02(b).