Common use of Voluntary Conversion and Continuation Clause in Contracts

Voluntary Conversion and Continuation. Subject to the provisions of Sections 2.06(b), 2.08 and 2.13, any Borrower may (i) Convert, on any Business Day, all of its Advances of one Type constituting the same Borrowing into Advances of another Type or (ii) Continue, on any Business Day, any of its Term SOFR Advances as Advances of the same Type for a new Interest Period, in each case, upon notice given by the applicable Borrower (or Mondelēz International on its behalf) to the Administrative Agent by the time that a Notice of Borrowing would be required under Section 2.02 if such Borrower were requesting a Borrowing of the Type resulting from such Conversion or Continuation to be made on the effective date of such Conversion or Continuation; provided, however, that a Conversion of a Term SOFR Advance into a Base Rate Advance, or a Continuation of any Term SOFR Advance as an Advance of the same Type for a new Interest Period, in each case, may be made on, and only on, the last day of an Interest Period for such Term SOFR Advance. Each such notice of a Conversion or Continuation shall be in writing, signed by a duly authorized officer of the applicable Borrower (or of Mondelēz International, as applicable) and shall, within the restrictions specified above, specify: (i) the date of such Conversion or Continuation; (ii) the Advances to be Converted or Continued; and (iii) if such Conversion is into, or such Continuation is as, Term SOFR Advances, the duration of the Interest Period for each such Advance.

Voluntary Conversion and Continuation. Subject to the provisions of Sections 2.06(b), 2.08 and 2.13, any Borrower may (i) Convert, on any Business Day, all of its Advances of one Type constituting the same Borrowing into Advances of another Type or (ii) Continue, on any Business Day, any of its Term SOFR Advances as Advances of the same Type for a new Interest Period, in each case, upon notice given by the applicable Borrower (or Mondelēz Mondelez International on its behalf) to the Administrative Agent by the time that a Notice of Borrowing would be required under Section 2.02 if such Borrower were requesting a Borrowing of the Type resulting from such Conversion or Continuation to be made on the effective date of such Conversion or Continuation; provided, however, that a Conversion of a Term SOFR Advance into a Base Rate Advance, or a Continuation of any Term SOFR Advance as an Advance of the same Type for a new Interest Period, in each case, may be made on, and only on, the last day of an Interest Period for such Term SOFR Advance. Each such notice of a Conversion or Continuation shall be in writing, signed by a duly authorized officer of the applicable Borrower (or of Mondelēz Mondelez International, as applicable) (provided that, if such notice of a Conversion or Continuation is submitted through an Approved Borrower Portal, the foregoing signature requirement may be waived at the sole discretion of the Administrative Agent) and shall, within the restrictions specified above, specify: (i) the date of such Conversion or Continuation; (ii) the Advances to be Converted or Continued; and (iii) if such Conversion is into, or such Continuation is as, Term SOFR Advances, the duration of the Interest Period for each such Advance.