Common use of Voluntary Conversion of Advance Clause in Contracts

Voluntary Conversion of Advance. With respect to Loans, the Borrower may, upon written notice given by the Borrower to the Agent not later than 11:00 a.m. (Denver time) on the third Business Day prior to the date of any proposed interest conversion or roll over, (a) convert Advances of one Type into Advances of another Type, or (b) continue or roll over existing LIBOR Rate Advances; provided, however, that (i) with respect to any conversion into or roll over of a LIBOR Rate Advance, no Default or Matured Default shall have occurred and be continuing, (ii) with respect to any facsimile notice of interest conversion, the Borrower shall promptly confirm such notice by sending the original notice to the Agent and (iii) any continuation or roll over of a LIBOR Rate Advance for the same or a different Interest Period or into a Base Rate Advance, shall be made on, and only on, the last day of an Interest Period for such LIBOR Rate Advance. Each such notice of interest conversion shall specify therein the requested (x) date of such conversion, (y) the Advances to be converted and whether such Advances constitute LIBOR Rate Advances, and (z) if such interest conversion is into LIBOR Rate Advances, the duration of the Interest Period for each such Advance. The Agent shall promptly deliver a copy thereof to each Lender. Each such notice shall be irrevocable and binding on the Borrower. If the Borrower shall fail to give a notice of interest conversion with respect to any LIBOR Rate Advance as set forth above, such Advance shall automatically convert to a Base Rate Advance on the last day of the Interest Period with respect thereto. The provisions of this Section 3.2 shall also apply to initial Advances on Loans made as LIBOR Rate Advances.

Voluntary Conversion of Advance. With respect to Loans, the Borrower may, upon written notice given by the Borrower to the Agent not later than 11:00 a.m. (Denver time) on the third Business Day prior to the date of any proposed interest conversion or roll overrollover, (a) convert Advances of one Type into Advances of another Type, or (b) continue or roll over rollover existing LIBOR Rate Advances; provided, however, that (i) with respect to any conversion into or roll over rollover of a LIBOR Rate Advance, no Default or Matured Default shall have occurred and be continuing, (ii) with respect to any facsimile notice of interest conversion, the Borrower shall promptly confirm such notice by sending the original notice to the Agent and (iii) any continuation or roll over rollover of a LIBOR Rate Advance for the same or a different Interest Period or into a Base Rate Advance, shall be made on, and only on, the last day of an Interest Period for such LIBOR Rate Advance. Each such notice of interest conversion shall specify therein the requested (x) date of such conversion, (y) the Advances to be converted and whether such Advances constitute LIBOR Rate Advances, and (z) if such interest conversion is into LIBOR Rate Advances, the duration of the Interest Period for each such Advance. The Agent shall promptly deliver a copy thereof to each Lender. Each such notice shall be irrevocable and binding on the Borrower. If the Borrower shall fail to give a notice of interest conversion with respect to any LIBOR Rate Advance as set forth above, such Advance shall automatically convert to a Base Rate Advance on the last day of the Interest Period with respect thereto. The provisions of this Section 3.2 shall also apply to initial Advances on Loans made as LIBOR Rate Advances.and