RATE CONVERSION AND RATE CONTINUATION Sample Clauses

RATE CONVERSION AND RATE CONTINUATION. The Borrower shall have the right to convert or continue any Revolving Credit Borrowing as a LIBOR Rate Borrowing or an Alternate Base Rate Borrowing, upon request delivered by the Borrower to the Agent not later than 12:00 noon (Cleveland time): (a) on the Business Day that Borrower desires to convert any LIBOR Rate Borrowing into an Alternate Base Rate Borrowing, (b) three Business Days prior to the Business Day on which the Borrower desires to convert any Alternate Base Rate Borrowing into a LIBOR Rate Borrowing for a given Interest Period, (c) three Business Days prior to the Business Day on which Borrower desires to continue any LIBOR Rate Borrowing as a LIBOR Rate Borrowing for an additional Interest Period of the same duration, and (d) three Business Days prior to the Business Day on which Borrower desires to convert any LIBOR Rate Borrowing having a particular Interest Period into a LIBOR Rate Borrowing having a different permissible Interest Period; provided, however, that each such Rate Conversion or Rate Continuation shall be subject to the following:
Sample 1Sample 2See All (6)
AutoNDA by SimpleDocs
RATE CONVERSION AND RATE CONTINUATION. The Borrowers shall have the right to convert all or any portion of the Alternate Base Rate Loans or LIBOR Rate Loans comprising a Revolving Credit Borrowing into LIBOR Rate Loans or Alternate Base Rate Loans, as the case may be, or continue all or any portion of the LIBOR Rate Loans comprising a Revolving Credit Borrowing as, LIBOR Rate Loans or Alternate Base Rate Loans, as the case may be, upon request delivered by the Borrower Representative to the Administrative Agent not later than 4:00 p.m. (Eastern Time) as follows: (a) on the Business Day that the Borrower Representative desires to convert all or a portion of outstanding LIBOR Rate Loans into Alternate Base Rate Loans, (b) three (3) Business Days prior to the Business Day on which the Borrower Representative desires to convert all or a portion of outstanding Alternate Base Rate Loans into LIBOR Rate Loans for a given permissible Interest Period, or (c) three (3) Business Days prior to the Business Day on which the Borrower Representative desires to continue all or a portion of outstanding LIBOR Rate Loans as LIBOR Rate Loans for an additional Interest Period of the same duration or as a LIBOR Rate Borrowing having a different permissible Interest Period; provided, however, that each such Rate Conversion or Rate Continuation shall be subject to the following:
Sample 1
RATE CONVERSION AND RATE CONTINUATION. The Borrower shall have the right to convert or continue all or a portion of the Borrowings into, or continue all or any portion of the Borrowings as, LIBOR Rate Borrowings or Prime Rate Borrowings, as the case may be, upon request delivered by the Borrower to the Agent not later than 11:00 a.m. Columbus, Ohio time as follows: (a) on the Business Day that the Borrower desires to convert all or a portion of a LIBOR Rate Borrowing into a Prime Rate Borrowing, (b) three Business Days prior to the Business Day on which the Borrower desires to convert a Prime Rate Borrowing into a LIBOR Rate Borrowing, and (c) three Business Days prior to the Business Day on which the Borrower desires to continue a LIBOR Rate Borrowing for an additional Interest Period; provided, however, that each such Rate Conversion or Rate Continuation shall be subject to the following:
Sample 1
RATE CONVERSION AND RATE CONTINUATION. The Borrowers shall have the right to convert all or any portion of the Revolving Credit Advances comprising a Revolving Credit Borrowing into, or continue all or any portion of the Revolving Credit Advances comprising a Revolving Credit Borrowing as, LIBOR Rate Advances or Alternate Base Rate Advances, as the case may be, upon request delivered by the Borrower Representative to the Administrative Agent not later than 2:00 p.m. (Cleveland time) as follows: (a) on the Business Day that the Borrowers desire to convert all or a portion of the LIBOR Rate Advances into Alternate Base Rate Advances, (b) three (3) Business Days prior to the Business Day on which the Borrowers desire to convert all or a portion of the outstanding Alternate Base Rate Advances into a LIBOR Rate Borrowing for a given permissible Interest Period, or (c) three (3) Business Days prior to the Business Day on which the Borrowers desire to continue any LIBOR Rate Advance comprising a LIBOR Rate Borrowing as a LIBOR Rate Borrowing for an additional Interest Period of the same duration or as a LIBOR Rate Borrowing having a different permissible Interest Period; provided, however, that each such Rate Conversion or Rate Continuation shall be subject to the following:
Sample 1
RATE CONVERSION AND RATE CONTINUATION. Each Borrower shall have the right to convert all or any portion of the Revolving Credit Loans or Term Loans comprising any Borrowing or any Swing Line Loan into, or continue all or any portion of the Revolving Credit Loans or Term Loans comprising any Borrowing or any Swing Line Loan as, LIBOR Rate Loans or Alternate Base Rate Loans, as the case may be, in the case of Revolving Credit Loans or Term Loans, and a LIBOR Rate Loan or Money Market Rate Loan, as the case may be, in the case of any Swing Line Loan, upon request delivered by the Borrower Representative to the Administrative Agent or the applicable Designated European Administrative Agent designated for such Borrower, as the case may be, not later than 12:00 noon (local time at the Notice Office of the Administrative Agent or such
Sample 1

Related to RATE CONVERSION AND RATE CONTINUATION

  • Conversion and Continuation of Borrowings The Borrower shall have the right at any time upon prior irrevocable notice to the Administrative Agent (a) not later than 12:00 (noon), New York City time, one Business Day prior to conversion, to convert any Eurodollar Borrowing into an ABR Borrowing, (b) not later than 12:00 (noon), New York City time, three Business Days prior to conversion or continuation, to convert any ABR Borrowing into a Eurodollar Borrowing or to continue any Eurodollar Borrowing as a Eurodollar Borrowing for an additional Interest Period, and (c) not later than 12:00 (noon), New York City time, three Business Days prior to conversion, to convert the Interest Period with respect to any Eurodollar Borrowing to another permissible Interest Period, subject in each case to the following:

  • Conversion and Continuation (i) Borrower may elect from time to time, subject to the other provisions of this Section 2.11, to convert all or any part of a ratable Advance into any other type of Advance; provided that any conversion of a ratable LIBOR Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto.

  • Conversion and Continuation of Revolving Loans The Borrower shall have the right, subject to the terms and conditions of this Agreement, to (i) Convert all or a portion of the outstanding principal amount of Loans of one Type made to it into a Borrowing or Borrowings of another Type of Loans that can be made to it pursuant to this Agreement and (ii) Continue a Borrowing of Eurodollar Loans at the end of the applicable Interest Period as a new Borrowing of Eurodollar Loans with a new Interest Period; provided, however, that any Conversion of Eurodollar Loans into Base Rate Loans shall be made on, and only on, the last day of an Interest Period for such Eurodollar Loans.

  • Conversion and Continuation of Outstanding Advances Floating Rate Advances shall continue as Floating Rate Advances unless and until such Floating Rate Advances are converted into Eurodollar Advances pursuant to this Section 2.9 or are repaid in accordance with Section 2.2 or 2.7. Each Eurodollar Advance shall continue as a Eurodollar Advance until the end of the then applicable Interest Period therefor, at which time such Eurodollar Advance shall be automatically converted into a Floating Rate Advance unless (x) such Eurodollar Advance is or was repaid in accordance with Section 2.2 or 2.7 or (y) the Company shall have given the Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurodollar Advance continue as a Eurodollar Advance for the same or another Interest Period. Subject to the terms of Section 2.6, the Company may elect from time to time to convert all or any part of a Floating Rate Advance into a Eurodollar Advance. The Company shall give the Agent irrevocable notice (a “Conversion/Continuation Notice”) of each conversion of a Floating Rate Advance into a Eurodollar Advance or continuation of a Eurodollar Advance not later than 12:00 noon (New York City time) at least three Business Days prior to the date of the requested conversion or continuation, specifying:

  • Conversion/Continuation (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrower shall have the option:

  • Conversion and Continuation of Loans The Lead Borrower on behalf of the Borrowers shall have the right at any time,

  • Conversion/Continuation Request A notice given by the Borrower to the Agent of its election to convert or continue a Loan in accordance with §4.1.

  • Borrowings, Conversions and Continuations (a) Each Borrowing, each conversion of Loans from one Type to the other, and each continuation of Eurodollar Loans shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may be given by telephone. Each such notice must be received by the Administrative Agent not later than 11:00 a.m. (i) with respect to Eurodollar Loans, three (3) Business Days prior to, or (ii) with respect to Base Rate Loans, on the requested date of, the requested date of any Borrowing, conversion or continuation. Each telephonic notice pursuant to this Section 2.02(a) must be confirmed promptly by delivery to the Administrative Agent of a written Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower. Except as provided in Sections 2.03(c) and 2.04(c), each Borrowing, conversion or continuation shall be in a principal amount of (i) with respect to Eurodollar Loans, $1,000,000 or a whole multiple of $1,000,000 in excess thereof or (ii) with respect to Base Rate Loans, $500,000 or a whole multiple of $100,000 in excess thereof. Each Loan Notice (whether telephonic or written) shall specify (i) whether the applicable request is with respect to Revolving Loans, (ii) whether such request is for a Borrowing, conversion, or continuation, (ii) the requested date of such Borrowing, conversion or continuation (which shall be a Business Day), (iii) the principal amount of Loans to be borrowed, converted or continued, (iv) the Type of Loans to be borrowed, converted or continued, and (v) if applicable, the duration of the Interest Period with respect thereto. If the Borrower fails to specify a Type of Loan in a Loan Notice or if the Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Loans shall be made as, or converted to, Base Rate Loans. Any automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurodollar Loans. If the Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar Loans in any Loan Notice, but fails to specify an Interest Period, the Interest Period will be deemed to be one month.

  • Conversion and Continuation Elections (a) The Company may, upon irrevocable written notice to the Agent in accordance with subsection 2.4(b):

  • Conversion and Continuation Procedures (a) Subject to Section 2.2.1, the Company may, upon irrevocable written notice to the Administrative Agent in accordance with clause (b) below:

Time is Money Join Law Insider Premium to draft better contracts faster.