Procedure for Converting Loans Sample Clauses

Procedure for Converting Loans. To request that the Term Loans be converted into LIBOR Loans or Base Rate Loans, as applicable, the Borrower shall submit to the Agent a LIBOR Request, in substantially the form of Exhibit B and setting forth all of the information required to be set forth therein, by electronic mail or facsimile transmission, not later than 1:00 p.m., Boston, Massachusetts time, three Business Days before the date of the proposed conversion. The Agent shall use commercially reasonable efforts to confirm receipt of such notice by electronic mail to the Designated Financial Officer of the Borrower having sent such notice. Each such LIBOR Request made by the Borrower shall be irrevocable. Promptly following receipt of a LIBOR Request, the Agent will advise each affected Lender of the details thereof. Subject to the provisions of Section 2.2(d) and provided that no Default or Event of Default shall have occurred and be continuing, upon receipt of a LIBOR Request, the Lenders shall on the requested date of conversion (i) to the extent the Term Loans are then denominated as Base Rate Loans and the Borrower has requested in such LIBOR Request that such Loans be converted to LIBOR Loans, convert the entire amount of the Term Loans into LIBOR Loans or (ii) to the extent the Term Loans are then denominated as LIBOR Loans and the Borrower has requested in such LIBOR Request that such Loans be converted to Base Rate Loans, convert the entire amount of the Term Loans into Base Rate Loans. Each Lender at its option may make any LIBOR Loan by causing any domestic or foreign branch of an Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement.