Selection, Conversion or Renewal of Rate Options Sample Clauses

Selection, Conversion or Renewal of Rate Options. Subject to the other ------------------------------------------------ provisions hereof, Borrower may select any Interest Rate Option to apply to the borrowings evidenced by the Revolving Note. Subject to the other provisions hereof, Borrower may convert any part of the unpaid principal amount of the Revolving Note from either Interest Rate Option to the other Interest Rate Option: (a) at any time with respect to the conversion from the Prime Rate Option to the Libor Rate Option and (b) at the expiration of any Rate Period with respect to conversion from or renewals of the Libor Rate Option as to the Rate Segment corresponding to such expiring Rate Period. Whenever Borrower desires to select, convert or renew the Libor Rate Option, Borrower shall give Bank Standard Notice thereof (which shall be irrevocable), specifying the date, amount and type of the proposed new Rate Option. If such notice has been duly given, and if Bank in its sole discretion approves the proposed selection, conversion or renewal, on and after the date specified in such notice, interest shall be calculated upon the unpaid principal amount of the Revolving Note taking into account such selection, conversion or renewal.
Sample 1Sample 2See All (7)
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Selection, Conversion or Renewal of Rate Options. Subject to the ------------------------------------------------ other provisions hereof, the Borrower may select any Interest Rate Option to apply to the borrowings evidenced by the Note. Subject to the other provisions hereof, the Borrower may convert any part of the unpaid principal amount of the Note from any Interest Rate Option to the other Interest Rate Option: (a) at any time with respect to the conversion from the Prime Rate Option to the Libor Rate Option and (b) at the expiration of any Rate Period with respect to conversion from or renewals of the Libor Rate Option as to the Rate Segment corresponding to such expiring Rate Period. Whenever the Borrower desires to select, convert or renew the Libor Rate Option, the Borrower shall give the Bank Standard Notice thereof (which shall be irrevocable), specifying the date, amount and type of the proposed new Rate Option. If such notice has been duly given, and if the Bank in its sole discretion approves the proposed selection, conversion or renewal, on and after the date specified in such notice, interest shall be calculated upon the unpaid principal amount of the Note taking into account such selection, conversion or renewal.
Sample 1See All (4)
Selection, Conversion or Renewal of Rate Options. Subject to the other provisions of this Note, the Borrower may select any interest rate Option to apply to any borrowing evidenced by this Note. Subject to the other provisions of this Supplement, the Borrower may convert any part of the unpaid principal amount of the Note from any interest rate Option to any other interest rate Option and may renew the As-Offered Rate Option, CD Rate Option or the Euro-Rate Option as to any Rate Segment: (a) at any time with respect to conversion from the Prime Rate Option to another Option and (b) at the expiration of any Rate Period with respect to conversion from or renewals of the As-Offered Rate Option, CD Rate Option or the Euro-Rate Option, as the case may be, as to the Rate Segment corresponding to such expiring Rate Period. Whenever the Borrower desires to select, convert or renew any interest rate Option, the Borrower shall give the Bank notice (which shall be irrevocable) no later than 10:00 a.m., Pittsburgh time, on a Business Day which is at least two Business Days (or, in the case of selection of, conversion to or renewal of the Euro-Rate Option, at least two London Business Days) in advance of the day (which shall be a Business Day) on which such selection, conversion or renewal is to occur. If such notice has been duly given, and if the Bank in its sole discretion approves the proposed selection, conversion or renewal, after the date specified in such notice interest shall be calculated upon the unpaid principal amount of the Note taking into account such selection, conversion or renewal.
Sample 1
Selection, Conversion or Renewal of Rate Options. Subject to the other provisions of this Supplement, Undersigned may select any interest Rate Option to apply to any borrowing evidenced by the Note. Subject to the other provisions of this Supplement, Undersigned may convert any part of the unpaid principal amount of the Note from any Interest Rate Option to any other Interest Rate Option and may renew the LIBOR-Rate Option as to any Rate Segment: (a) at any time with respect to conversion from the Prime Rate Option or ABS Rate Option to any other Interest Rate Option and (b) at the expiration of any Rate Period with respect to conversion from or renewals of the LIBOR-Rate Option or As-Offered Rate Option as to the Rate Segment corresponding to such expiring Rate Period. Whenever Undersigned desires to select, convert or renew the LIBOR-Rate Option or As-Offered Rate Option, Undersigned shall give Bank Standard Notice thereof (which shall be irrevocable), specifying the date, amount and type of the proposed new Interest Rate Option. If such notice has been duly given, and if Bank in its sole discretion (based on a good faith effort to provide all Interest Rate Options) approves the proposed selection, conversion or renewal, on and after the date specified in such notice interest shall be calculated upon the unpaid principal amount of the Note taking into account such selection, conversion or renewal.
Sample 1
Selection, Conversion or Renewal of Rate Options. Subject to the other provisions hereof, the Borrowers may select any Interest Rate Option to apply to the Loans or any part thereof. Subject to the other provisions hereof, the Borrowers may convert any part of the unpaid principal amount of the Loans from any Interest Rate Option to any other Interest Rate Option and may renew the Euro-Rate Option as to any Rate Segment: (a) at any time with respect to conversion from the Prime Rate Option to the Euro-Rate Option, and (b) at the expiration of any Rate Period with respect to conversion from or renewals of the Euro-Rate Option as to the Rate Segment corresponding to such expiring Rate Period. Whenever the Borrowers desire to select, convert or renew the Euro-Rate Option, Uni-Marts shall give the Lender Standard Notice thereof (which shall be irrevocable, except as provided in subsection (i) below of this Section 2.02), specifying the date, amount and type of the proposed new Interest Rate Option. If such notice has been duly given, on and after the date specified in such notice, interest shall be calculated upon the unpaid principal amount of the Loans in question taking into account such selection, conversion or renewal. In no event shall more than four (4) Rate Segments of the Euro-Rate Option be in effect at any one time and each Rate Segment of the Euro-Rate Option shall be in an amount of at least $500,000 and in integral multiples of $50,000 thereafter.
Sample 1
Selection, Conversion or Renewal of Rate Options. Subject to the other provisions hereof, the Borrower may select any Interest Rate Option to apply to the Loans. Subject to the other provisions hereof, the Borrower may convert any part of the unpaid principal amount of the Loans from any Interest Rate Option to any other Interest Rate Option and may renew the Euro-Rate Option as to any Rate Segment: (a) at any time with respect to conversion from the Prime Rate Option to the Euro-Rate Option and (b) at the expiration of any Rate Period with respect to conversion from or renewals of the Euro-Rate Option as to the Rate Segment corresponding to such expiring Rate Period. Whenever the Borrower desires to select, convert or renew the Euro-Rate Option, the Borrower shall give the Agent Standard Notice thereof (which shall be irrevocable, except as provided in Section 2.15), specifying the date, amount and type of the proposed new Interest Rate Option. If such notice has been duly given, on and after the date specified in such notice, interest shall be calculated upon the unpaid principal amount of the Loan or Loans in question taking into account such selection, conversion or renewal.
Sample 1
Selection, Conversion or Renewal of Rate Options. Subject to the other provisions of Section 2.1.1., the Borrower may select any interest rate Option to apply to the Loans. Subject to the other provisions of this Section 2, the Borrower may convert any part of the unpaid principal amount of the Loans from any interest rate Option to any other interest rate Option and may renew the Money Market Option or LIBOR Option as to any Rate Segment at the expiration of any Rate Period with respect to conversion from or renewals of the Money Market Option or LIBOR Option, as the case may be, as to the Rate Segment corresponding to such expiring Rate Period. Whenever the Borrower desires to convert or renew the Money Market Option or LIBOR Option, the Borrower shall give the Bank notice thereof (which shall be irrevocable) not later than 11:00 a.m. (Chicago time) on the effective conversion or renewal date for each Money Market Loan and three Business Days before the effective conversion or renewal date for each LIBOR Loan, specifying the effective date, amount and type of the proposed new rate Option, and applicable interest period. If such notice has been duly given, on and after the effective date specified in such notice, interest shall be calculated upon the unpaid principal amount of the Loan or Loans in question taking into account such conversion or renewal. Each notice shall be irrevocable, given by a Responsible Officer, Art Zullx, Xxxx Xxxanshansky or Greg Xxxxxxxxxxx xxx shall be sent to the Bank by telephone (which shall be effective when telephoned) and may be confirmed by Borrower, at the Bank's request, by first class mail, by hand delivery, or first class express mail (which shall be effective when received), in all cases with charges prepaid.
Sample 1
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Selection, Conversion or Renewal of Rate Options. Subject to the other provisions hereof, the Borrower may select any Interest Rate Option to apply to the Loans or any part thereof. Subject to the other provisions hereof, the Borrower may convert any part of the unpaid principal amount of the Loans from any Interest Rate Option.
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Selection, Conversion or Renewal of Rate Options 
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Related to Selection, Conversion or Renewal of Rate Options

  • Optional Conversion of Advances Each Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.10 and 2.14, Convert all or any part of Advances made to such Borrower of one Type comprising the same Borrowing into Advances of the other Type or of the same Type but having a new Interest Period; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the applicable Borrower. This Section shall not apply to Swingline Borrowings, which may not be Converted.

  • Optional Conversion of Revolving Credit Advances The Borrower may on any Business Day, upon notice given to the Agent not later than 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.07 and 2.11(a), Convert all Revolving Credit Advances of one Type comprising the same Borrowing into Revolving Credit Advances of the other Type (it being understood that such Conversion of a Revolving Credit Advance or of its Interest Period does not constitute a repayment or prepayment of such Revolving Credit Advance); provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Revolving Credit Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall be substantially in the form of Exhibit H hereto, and shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Revolving Credit Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Eurodollar Rate Advance. Each notice of Conversion shall be irrevocable and binding on the Borrower.

  • Interest Rate Options The Borrower shall pay interest in respect of the outstanding unpaid principal amount of the Loans as selected by it from the Base Rate Option or LIBOR Rate Option set forth below applicable to the Loans, it being understood that, subject to the provisions of this Agreement, the Borrower may select different Interest Rate Options and different Interest Periods to apply simultaneously to the Loans comprising different Borrowing Tranches and may convert to or renew one or more Interest Rate Options with respect to all or any portion of the Loans comprising any Borrowing Tranche; provided that (i) there shall not be at any one time outstanding more than ten (10) Borrowing Tranches in the aggregate among all of the Loans and (ii) if an Event of Default or Potential Default exists and is continuing, the Borrower may not request, convert to, or renew the LIBOR Rate Option for any Loans and the Required Lenders may demand that all existing Borrowing Tranches bearing interest under the LIBOR Rate Option shall be converted immediately to the Base Rate Option, subject to the obligation of the Borrower to pay any indemnity under Section 5.9 [Indemnity] in connection with such conversion. If at any time the designated rate applicable to any Loan made by any Lender exceeds such Lender’s highest lawful rate, the rate of interest on such Lender’s Loan shall be limited to such Lender’s highest lawful rate.

  • Base Rate Option A fluctuating rate per annum (computed on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed) equal to the Base Rate plus the Applicable Margin, such interest rate to change automatically from time to time effective as of the effective date of each change in the Base Rate; or

  • Lender’s Suspension of LIBOR Loans Without limiting the effect of the provisions of the immediately preceding subsections (a) and (b), if by reason of any Regulatory Change, any Lender either (i) incurs Additional Costs based on or measured by the excess above a specified level of the amount of a category of deposits or other liabilities of such Lender that includes deposits by reference to which the interest rate on LIBOR Loans is determined as provided in this Agreement or a category of extensions of credit or other assets of such Lender that includes LIBOR Loans or (ii) becomes subject to restrictions on the amount of such a category of liabilities or assets that it may hold, then, if such Lender so elects by notice to the Borrower (with a copy to the Administrative Agent), the obligation of such Lender to make or Continue, or to Convert Base Rate Loans into, LIBOR Loans shall be suspended until such Regulatory Change ceases to be in effect (in which case the provisions of Section 4.5. shall apply).

  • Pro Rata Conversion; Disputes In the event that the Company receives a Conversion Notice from more than one holder of Notes for the same Conversion Date and the Company can convert some, but not all, of such portions of the Notes submitted for conversion, the Company, subject to Section 3(d), shall convert from each holder of Notes electing to have Notes converted on such date a pro rata amount of such holder’s portion of its Notes submitted for conversion based on the principal amount of Notes submitted for conversion on such date by such holder relative to the aggregate principal amount of all Notes submitted for conversion on such date. In the event of a dispute as to the number of shares of Common Stock issuable to the Holder in connection with a conversion of this Note, the Company shall issue to the Holder the number of shares of Common Stock not in dispute and resolve such dispute in accordance with Section 23.

  • Borrowings and Conversions Each borrowing of Base Rate Loans shall be in an aggregate minimum amount of $100,000 and integral multiples of $100,000 in excess thereof. Each borrowing and each Conversion of LIBOR Loans shall be in an aggregate minimum amount of $1,000,000 and integral multiples of $100,000 in excess of that amount.

  • 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.

  • Suspension of LIBOR Loans Anything herein to the contrary notwithstanding, if, on or prior to the determination of LIBOR for any Interest Period:

  • Suspension of LIBOR Rate Loans In the event that, prior to the commencement of any Interest Period relating to any LIBOR Rate Loan, the Agent shall determine that adequate and reasonable methods do not exist for ascertaining LIBOR for such Interest Period, or the Agent shall reasonably determine that LIBOR will not accurately and fairly reflect the cost of the Lenders making or maintaining LIBOR Rate Loans for such Interest Period, the Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the Lenders absent manifest error) to the Borrower and the Lenders. In such event (a) any Loan Request with respect to a LIBOR Rate Loan shall be automatically withdrawn and shall be deemed a request for a Base Rate Loan and (b) each LIBOR Rate Loan will automatically, on the last day of the then current Interest Period applicable thereto, become a Base Rate Loan, and the obligations of the Lenders to make LIBOR Rate Loans shall be suspended until the Agent determines that the circumstances giving rise to such suspension no longer exist, whereupon the Agent shall so notify the Borrower and the Lenders.

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