Common use of Prepayments and Conversions Clause in Contracts

Prepayments and Conversions. (a) The Borrower shall have the option to make prepayments of principal, or to convert one type of Loans into another type of Loans, at any time or from time to time; provided that, pursuant to this SECTION 2.05(A), (i) the Borrower shall give the Agent notice of each such prepayment or conversion as provided in SECTION 2.08; (ii) Fixed Rate Loans may be prepaid or converted only on the last day of an Interest Period for such Loans; (iii) Competitive Bid Loans may not be converted into another type of Loan, except as provided in SECTION 3.04; and (iv) Swing Line Loans may not be converted into another type of Loans. (b) If at any time the aggregate principal balance of all outstanding Loans exceeds the Borrowing Base reflected on the latest Borrowing Base Certificate delivered to the Agent pursuant to SECTION 6.08(L), Borrower shall immediately give the Agent notice thereof. Such notice shall specify the amount of such excess, shall constitute a notice of prepayment and shall specify the Loan or Loans which Borrower intends to prepay, in whole or in part, in order to eliminate such excess. Within four Banking Days after the date of such notice, Borrower shall prepay the Loans designated in such notice. (c) If a Termination Event (as defined in the Security Agreement) shall occur, Borrower shall prepay to the Agent, for the account of the Banks, the Loans in an amount equal to each Bank's Percentage Interest of the aggregate amount of payments made by Pillsbury to the Borrower on the date of such Termination Event in satisfaction of any account(s) receivable owed by Pillsbury to the Borrower. (d) Subject to the provisions of SECTION 2.12, Borrower shall have the right to designate the Loan(s) to be prepaid pursuant to SECTIONS 2.05(B), OR (C), provided that, (i) it shall be required to select the type(s) of Loans to be prepaid in the following order of priority- Swing Line Loans, Competitive Bid Loans and Revolving Loans; and (ii) Borrower shall be required to prepay pro rata, in accordance with SECTION 10.16, in whole or in part to the extent necessary to eliminate such excess, all Loans of a particular type that were borrowed as part of the same Borrowing, if it prepays any Loans of such type and Borrowing.

Prepayments and Conversions. (a) The Borrower shall have the option right to make prepayments of principal, or to convert one type of Loans into another type of Loans, at any time or from time to time; , provided that, pursuant to this SECTION 2.05(A), : (ia) the Borrower shall give the Agent notice of each such prepayment or conversion as provided in SECTION Section 2.08; ; (iib) Quoted Rate Loans may not be converted into another type of Loan, except as provided in Section 3.04; (c) Fixed Rate Loans may be prepaid or converted only on the last day of an Interest Period for such Loans; (iii) Competitive Bid Loans may not be converted into another type of Loan, except as provided in SECTION 3.04; and that (ivi) Swing Line Loans may not be converted into another type if after giving effect to any reduction or termination of Loans. (b) If at any time the Commitments pursuant to Section 2.07, either the outstanding aggregate principal balance amount of all outstanding Loans exceeds the Borrowing Base reflected on the latest Borrowing Base Certificate delivered to the Agent pursuant to SECTION 6.08(L), Borrower shall immediately give the Agent notice thereof. Such notice shall specify the amount of such excess, shall constitute a notice of prepayment and shall specify the Loan or Loans which Borrower intends to prepay, in whole or in part, in order to eliminate such excess. Within four Banking Days after the date of such notice, Borrower shall prepay the Loans designated in such notice. (c) If a Termination Event (as defined in the Security Agreement) shall occur, Borrower shall prepay to the Agent, for the account of the Banks, the Loans in an amount equal to each Bank's Percentage Interest of the aggregate amount of payments made by Pillsbury to the Commitments or the outstanding aggregate principal amount of Variable Rate and Eurodollar Loans from one or more Banks exceeds the aggregate amount of such Banks' Commitments, the Borrower shall pay or prepay, on the date of such Termination Event reduction or termination, one or more Loans in satisfaction of any account(s) receivable owed by Pillsbury an aggregate principal amount equal to the Borrower.excess, together with interest thereon accrued to the date of such payment or prepayment, and (ii) if Borrower receives a notice pursuant to either Section 3.01(a) or 3.01(c) that a Bank is entitled to compensation as contemplated therein, Borrower may prepay any Fixed Rate Loan(s) with respect to which such compensation is due, provided that Borrower then pays interest thereon accrued to the date of such prepayment(s) or conversion; and (d) Subject to the provisions of SECTION 2.12, Borrower shall have the right to designate the Loan(s) to be prepaid pursuant to SECTIONS 2.05(B), OR clauses (Ci) and (ii) of Section 2.05(c), provided that, (i) it shall be required to select the type(s) of Loans to be prepaid in the following order of priority- Swing Line Loans, Competitive Bid priority - Quoted Rate Loans and Revolving Loans; and (ii) Borrower shall be required to prepay pro rata, in accordance with SECTION Section 10.16, in whole or in part to the extent necessary to eliminate such excesspart, all Loans of a particular type that were borrowed as part of the same Borrowing, if it prepays any Loans of such type and Borrowing.

Prepayments and Conversions. (a) The Borrower shall have the option to make prepayments of principal, or to convert one type of Loans into another type of Loans, at any time or from time to time; provided that, pursuant to this SECTION 2.05(ASection 2.05(a), (i) the Borrower shall give the Agent notice of each such prepayment or conversion as provided in SECTION Section 2.08; (ii) Fixed Rate Loans may be prepaid or converted only on the last day of an Interest Period for such Loans; (iii) Competitive Bid Loans may not be converted into another type of Loan, except as provided in SECTION Section 3.04; and (iv) Swing Line Loans may not be converted into another type of Loans. (b) If at any time the aggregate principal balance of all outstanding Loans exceeds the Borrowing Base reflected on the latest Borrowing Base Certificate delivered to the Agent pursuant to SECTION 6.08(LSection 6.08(l), Borrower shall immediately give the Agent notice thereof. Such notice shall specify the amount of such excess, shall constitute a notice of prepayment and shall specify the Loan or Loans which Borrower intends to prepay, in whole or in part, in order to eliminate such excess. Within four Banking Days after the date of such notice, Borrower shall prepay the Loans designated in such notice. (c) If a Termination Event (as defined in the Security Agreement) shall occur, Borrower shall prepay to the Agent, for the account of the Banks, the Loans in an amount equal to each Bank's Percentage Interest of the aggregate amount of payments made by Pillsbury to the Borrower on the date of such Termination Event in satisfaction of any account(s) receivable owed by Pillsbury to the Borrower. (d) Subject to the provisions of SECTION Section 2.12, Borrower shall have the right to designate the Loan(s) to be prepaid pursuant to SECTIONS 2.05(B), OR Sections 2.05(b) or (Cc), provided that, (i) it shall be required to select the type(s) of Loans to be prepaid in the following order of priority- Swing Line Loans, Competitive Bid Loans and Revolving Loans; and (ii) Borrower shall be required to prepay pro rata, in accordance with SECTION Section 10.16, in whole or in part to the extent necessary to eliminate such excess, all Loans of a particular type that were borrowed as part of the same Borrowing, if it prepays any Loans of such type and Borrowing.

Prepayments and Conversions. (a) The Borrower Company shall have pay the option Bank, upon demand, that amount from time to make time which is necessary so that the Outstanding Credit Advances do not exceed the Maximum Loan Exposure and, if as a result thereof, any LIBOR Credit Advances are prepaid on other than the last day of an Interest Period therefor, the Company shall pay the Bank the amount payable to the Bank under Section 2.15 hereof in respect of such prepayment. (b) The Company shall prepay the Loans, daily, in accordance with the provisions of Section 7.5 hereof, all such prepayments to be first applied to Prime Rate Credit Advances; provided that until the occurrence, and during the continuance, of principalan Event of Default, or the Bank shall not prepay any LIBOR Credit Advances prior to the expiration of the applicable Interest Period therefor. If as a result of any such prepayment, after the occurrence, and during the continuance, of an Event of Default, any LIBOR Credit Advances are prepaid on other than the last day of an Interest Period therefor, the Company shall pay the Bank the amount payable to the Bank under Section 2.15 hereof in respect of such prepayment. Loans prepaid pursuant to this Section 2.7(b) may be reborrowed in accordance with the terms and conditions of this Agreement. (c) The Company may prepay Loans and/or convert Loans of one type Type into Loans of Loans into another type of Loansthe other Type, at any time or from time to time; , provided that, pursuant to this SECTION 2.05(A), that (i) the Borrower Company shall give the Agent Bank notice of each such prepayment or conversion as provided in SECTION 2.08; Section 2.13, and (ii) Fixed Rate Loans may be if any LIBOR Credit Advances are prepaid or converted only on other than the last day of an Interest Period for such Loans; (iii) Competitive Bid Loans may not be converted into another type of Loantherefor, except as provided in SECTION 3.04; and (iv) Swing Line Loans may not be converted into another type of Loans. (b) If at any time the aggregate principal balance of all outstanding Loans exceeds Company shall have paid the Borrowing Base reflected on Bank the latest Borrowing Base Certificate delivered amount payable to the Agent pursuant to SECTION 6.08(L), Borrower shall immediately give the Agent notice thereof. Such notice shall specify the amount Bank under Section 2.15 hereof in respect of such excess, shall constitute a notice of prepayment and shall specify the Loan or prepayment. Loans which Borrower intends to prepay, in whole or in part, in order to eliminate such excess. Within four Banking Days after the date of such notice, Borrower shall prepay the Loans designated in such notice. (c) If a Termination Event (as defined in the Security Agreement) shall occur, Borrower shall prepay to the Agent, for the account of the Banks, the Loans in an amount equal to each Bank's Percentage Interest of the aggregate amount of payments made by Pillsbury to the Borrower on the date of such Termination Event in satisfaction of any account(s) receivable owed by Pillsbury to the Borrower. (d) Subject to the provisions of SECTION 2.12, Borrower shall have the right to designate the Loan(s) to be prepaid pursuant to SECTIONS 2.05(B), OR (C), provided that, (ithis Section 2.7(c) it shall may be required to select the type(s) of Loans to be prepaid in the following order of priority- Swing Line Loans, Competitive Bid Loans and Revolving Loans; and (ii) Borrower shall be required to prepay pro rata, reborrowed in accordance with SECTION 10.16, in whole or in part to the extent necessary to eliminate such excess, all Loans terms and conditions of a particular type that were borrowed as part of the same Borrowing, if it prepays any Loans of such type and Borrowingthis Agreement.