Voluntary Conversion of Advances. Subject to the conditions set forth below, the Borrower may, on any Business Day, by delivering a notice of Conversion (a “Notice of Conversion”) to the Agent not later than 12:00 noon (i) on the third Business Day prior to the date of the proposed Conversion, in the case of a Conversion to or in respect of Eurodollar Rate Advances and (ii) on the date of the proposed Conversion, in the case of a Conversion to or in respect of Base Rate Advances, and subject to the provisions of Section 2.10 and Section 2.15, Convert all Advances of one Type comprising the same Borrowing into Advances of another Type; provided, however, that, in the case of any Conversion of any Eurodollar Rate Advances into Base Rate Advances on a day other than the last day of an Interest Period for such Eurodollar Rate Advances, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.4(b). Each such Notice of Conversion shall be in substantially the form of Exhibit 2.11 and shall, within the restrictions specified above, specify (A) the date of such Conversion, (B) the Advances to be Converted, (C) if such Conversion is into Eurodollar Rate Advances, the duration of the Interest Period for each such Advance, and (D) the aggregate amount of Advances proposed to be Converted. Notwithstanding the foregoing, the Borrower may not Convert Base Rate Advances into Eurodollar Rate Advances and may not select a new Interest Period for Eurodollar Rate Advances at any time an Event of Default has occurred and is continuing.
Appears in 7 contracts
Samples: Credit Agreement (Alliant Energy Corp), Credit Agreement (Interstate Power & Light Co), Credit Agreement (Interstate Power & Light Co)
Voluntary Conversion of Advances. Subject to the conditions set forth below, the Borrower may, on any Business Day, by delivering a notice of Conversion (a “Notice of Conversion”) to the Agent not later than 12:00 noon (i) on the third Business Day prior to the date of the proposed Conversion, in the case of a Conversion to or in respect of Eurodollar Rate Advances and (ii) on the date of the proposed Conversion, in the case of a Conversion to or in respect of Base Rate Advances, and subject to the provisions of Section 2.10 and Section 2.15, Convert all Advances of one Type comprising the same Borrowing into Advances of another Type; provided, however, that, (x) any such Conversion shall involve an aggregate principal amount of not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) in the case of any Conversion of any Eurodollar Rate Advances into Base Rate Advances on a day other than the last day of an Interest Period for such Eurodollar Rate Advances, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.4(b8.4(d). Each such Notice of Conversion shall be in substantially the form of Exhibit 2.11 and shall, within the restrictions specified above, specify (A) the date of such Conversion, (B) the Advances to be Converted, (C) if such Conversion is into Eurodollar Rate Advances, the duration of the Interest Period for each such Advance, and (D) the aggregate amount of Advances proposed to be Converted. Notwithstanding the foregoing, the Borrower may not Convert Base Rate Advances into Eurodollar Rate Advances and may not select a new Interest Period for Eurodollar Rate Advances at any time an Unmatured Default or Event of Default has occurred and is continuing.
Appears in 4 contracts
Samples: Term Loan Credit Agreement (Alliant Energy Corp), Credit Agreement (Alliant Energy Corp), Credit Agreement (Alliant Energy Corp)
Voluntary Conversion of Advances. Subject to the conditions set forth below, the The Borrower may, on any Business Day, by delivering a notice of Conversion (a “Notice of Conversion”) Day prior to the Termination Date, upon notice given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (iNew York City time) on the third Business Day prior to the date of the proposed Conversion, in the case of a any proposed Conversion to or in respect of into Eurodollar Rate Advances Advances, and (ii) on the date of the proposed Conversion, in the case of a any proposed Conversion to or in respect of into Base Rate Advances, and subject to the provisions of Section 2.10 Sections 2.08 and Section 2.152.12, Convert all Advances of one Type comprising the same Borrowing into Advances of another Type; provided, however, that, in the case of that any Conversion of any Eurodollar Rate Advances into Base Rate Advances on a day other than of another Type shall be made on, and only on, the last day of an Interest Period for such Eurodollar Rate Advances, the Borrower shall be obligated to reimburse the Lenders except as otherwise provided in respect thereof pursuant to Section 8.4(b)2.12. Each such notice of a Conversion (a “Notice of Conversion Conversion”) shall be by telecopier, confirmed promptly in writing, in substantially the form of Exhibit 2.11 A-2 hereto and shall, within the restrictions specified above, specify (Ai) the date of such Conversion, (Bii) the aggregate amount of, Type of, and Interest Periods applicable to, the Advances to be Converted, (Ciii) the Type of Advance to which such Advances (or portions thereof) are proposed to be Converted, and (iv) if such Conversion is into or with respect to Eurodollar Rate Advances, the duration of the Interest Period for each such Advance, and (D) the aggregate amount of Advances proposed to be Converted. Notwithstanding the foregoing, the Borrower may not Convert Base Rate Advances into Eurodollar Rate Advances and may not select a new Interest Period for Eurodollar Rate Advances at any time an Event of Default has occurred and is continuing.
Appears in 4 contracts
Samples: Credit Agreement (Progress Energy Inc), Credit Agreement (Carolina Power & Light Co), Credit Agreement (Progress Energy Inc)
Voluntary Conversion of Advances. Subject to the conditions set forth below, the Borrower may, on any Business Day, by delivering a notice of Conversion (a “Notice of Conversion”) to the Agent not later than 12:00 noon (i) on the third Business Day prior to the date of the proposed Conversion, in the case of a Conversion to or in respect of Eurodollar Rate Advances and (ii) on the date of the proposed Conversion, in the case of a Conversion to or in respect of Base Rate Advances, and subject to the provisions of Section 2.10 2.9 and Section 2.152.14, Convert all Advances of one Type comprising the same Borrowing into Advances of another Type; provided, however, that, in the case of any Conversion of any Eurodollar Rate Advances into Base Rate Advances on a day other than the last day of an Interest Period for such Eurodollar Rate Advances, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.4(b). Each such Notice of Conversion shall be in substantially the form of Exhibit 2.11 2.10 and shall, within the restrictions specified above, specify (A) the date of such Conversion, (B) the Advances to be Converted, (C) if such Conversion is into Eurodollar Rate Advances, the duration of the Interest Period for each such Advance, and (D) the aggregate amount of Advances proposed to be Converted. Notwithstanding the foregoing, the Borrower may not Convert Base Rate Advances into Eurodollar Rate Advances and may not select a new Interest Period for Eurodollar Rate Advances at any time an Event of Default has occurred and is continuing.
Appears in 3 contracts
Samples: Credit Agreement (Interstate Power & Light Co), Credit Agreement (Interstate Power & Light Co), Credit Agreement (Interstate Power & Light Co)
Voluntary Conversion of Advances. Subject to the conditions set forth below, the Borrower may, on any Business Day, by delivering a notice of Conversion (a “Notice of Conversion”) to the Agent not later than 12:00 noon (i) on the third Business Day prior to the date of the proposed Conversion, in the case of a Conversion to or in respect of Eurodollar Rate Advances and (ii) on the date of the proposed Conversion, in the case of a Conversion to or in respect of Base Rate Advances, and subject to the provisions of Section 2.10 and Section 2.15, Convert all Advances of one Type comprising the same Borrowing into Advances of another Type; provided, however, that, (x) any such Conversion shall involve an aggregate principal amount of not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) in the case of any Conversion of any Eurodollar Rate Advances into Base Rate Advances on a day other than the last day of an Interest Period for such Eurodollar Rate Advances, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.4(b9.4(d). Each such Notice of Conversion shall be in substantially the form of Exhibit 2.11 and shall, within the restrictions specified above, specify (A) the date of such Conversion, (B) the Advances to be Converted, (C) if such Conversion is into Eurodollar Rate Advances, the duration of the Interest Period for each such Advance, and (D) the aggregate amount of Advances proposed to be Converted. Notwithstanding the foregoing, the Borrower may not Convert Base Rate Advances into Eurodollar Rate Advances and may not select a new Interest Period for Eurodollar Rate Advances at any time an Unmatured Default or Event of Default has occurred and is continuing.
Appears in 3 contracts
Samples: Term Loan Credit Agreement (Alliant Energy Corp), Term Loan Credit Agreement (Alliant Energy Corp), Term Loan Credit Agreement (Alliant Energy Corp)
Voluntary Conversion of Advances. Subject to the conditions set forth below, the Borrower may, on any Business Day, by delivering a notice of Conversion (a “Notice of Conversion”) to the Agent not later than 12:00 noon (i) on the third Business Day prior to the date of the proposed Conversion, in the case of a Conversion to or in respect of Eurodollar Rate Advances and (ii) on the date of the proposed Conversion, in the case of a Conversion to or in respect of Base Rate Advances, and subject to the provisions of Section 2.10 Sections 2.09 and Section 2.152.14, Convert all Advances of one Type comprising the same Borrowing into Advances of another Type; provided, however, that, in the case of any Conversion of any Eurodollar Rate Advances into Base Rate Advances on a day other than the last day of an Interest Period for such Eurodollar Rate Advances, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.4(b8.04(b). Each such Notice of Conversion shall be in substantially the form of Exhibit 2.11 2.10 and shall, within the restrictions specified above, specify (A) the date of such Conversion, (B) the Advances to be Converted, (C) if such Conversion is into Eurodollar Rate Advances, the duration of the Interest Period for each such Advance, and (D) the aggregate amount of Advances proposed to be Converted. Notwithstanding the foregoing, the Borrower may not Convert Base Rate Advances into Eurodollar Rate Advances and may not select a new Interest Period for Eurodollar Rate Advances at any time an Event of Default has occurred and is continuing.
Appears in 3 contracts
Samples: Credit Agreement (Alliant Energy Corp), Credit Agreement (Alliant Energy Corp), Credit Agreement (Alliant Energy Corp)
Voluntary Conversion of Advances. Subject to the conditions set forth below, the Any Borrower may, may on any Business Day, by delivering a upon notice of Conversion (a “Notice of Conversion”) given to the Agent Administrative Agent, not later than 10:00 A.M. (New York City time) on the Business Day of the proposed Conversion of Eurodollar Rate Advances to Base Rate Advances and not later than 12:00 noon (iNew York City time) on the third Business Day prior to the date of the proposed Conversion, Conversion in the case of a Conversion to or in respect of Eurodollar Base Rate Advances and (ii) on the date of the proposed Conversion, in the case of a Conversion to or in respect of Base Eurodollar Rate Advances, and subject to the provisions of Section 2.10 Sections 2.13, 2.16 and Section 2.152.18, Convert all Advances of one Type comprising the same Borrowing into Advances of another Type; provided, however, that, in the case of that any Conversion of any Eurodollar Rate Advances into Base Rate Advances made on a any day other than the last day of an Interest Period for such Eurodollar Rate Advances shall be subject to the provisions of Section 9.4(b); and provided, further, that no Revolving Credit Advance may be converted into a Eurodollar Rate Advance after the date that is one month prior to (a) in the case of a Revolving Credit Advance made by an Objecting Lender, such Objecting Lender's Commitment Expiration Date, and (b) in the case of all Revolving Credit Advances, the Borrower shall Termination Date and provided, still further, that no Revolving Credit Advance may be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.4(b)converted into a Eurodollar Rate Advance if an Event of Default has occurred and is continuing. Each such Notice notice of a Conversion shall be in substantially the form of Exhibit 2.11 and shall, within the restrictions specified above, specify (Aa) the date of such Conversion, (Bb) the Advances to be Converted, and (Cc) if such Conversion is into Eurodollar Rate Advances, the duration of the Interest Period for each such Advance, and (D) the aggregate amount of Advances proposed to be Converted. Notwithstanding the foregoing, the Borrower may not Convert Base Rate Advances into Eurodollar Rate Advances and may not select a new Interest Period for Eurodollar Rate Advances at any time an Event of Default has occurred and is continuing.
Appears in 3 contracts
Samples: Revolving Credit and Competitive Advance Facility Agreement (El Paso Energy Corp/De), Revolving Credit and Competitive Advance Facility Agreement (El Paso Tennessee Pipeline Co), Revolving Credit and Competitive Advance Facility Agreement (El Paso Natural Gas Co)
Voluntary Conversion of Advances. Subject to the conditions set forth below, the Borrower may, on any Business Day, by delivering a notice of Conversion (a “Notice of Conversion”"NOTICE OF CONVERSION") to the Agent not later than 12:00 noon (i) on the third Business Day prior to the date of the proposed Conversion, in the case of a Conversion to or in respect of Eurodollar Rate Advances and (ii) on the date of the proposed Conversion, in the case of a Conversion to or in respect of Base Rate Advances, and subject to the provisions of Section 2.10 Sections 2.09 and Section 2.152.14, Convert all Advances of one Type comprising the same Borrowing into Advances of another Type; provided, however, that, in the case of any Conversion of any Eurodollar Rate Advances into Base Rate Advances on a day other than the last day of an Interest Period for such Eurodollar Rate Advances, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.4(b8.04(b). Each such Notice of Conversion shall be in substantially the form of Exhibit 2.11 2.10 and shall, within the restrictions specified above, specify (A) the date of such Conversion, (B) the Advances to be Converted, (C) if such Conversion is into Eurodollar Rate Advances, the duration of the Interest Period for each such Advance, and (D) the aggregate amount of Advances proposed to be Converted. Notwithstanding the foregoing, the Borrower may not Convert Base Rate Advances into Eurodollar Rate Advances and may not select a new Interest Period for Eurodollar Rate Advances at any time an Event of Default has occurred and is continuing.
Appears in 3 contracts
Samples: Credit Agreement (Interstate Power & Light Co), Credit Agreement (Alliant Energy Corp), Credit Agreement (Wisconsin Power & Light Co)
Voluntary Conversion of Advances. Subject to the conditions set forth below, the Any Borrower may, may on any Business Day, by delivering a upon notice of Conversion (a “Notice of Conversion”) given to the Agent Administrative Agent, not later than 10:00 A.M. (New York City time) on the Business Day of the proposed Conversion of Eurodollar Rate Advances to Base Rate Advances and not later than 12:00 noon (iNew York City time) on the third Business Day prior to the date of the proposed Conversion, Conversion in the case of a Conversion to or in respect of Eurodollar Base Rate Advances and (ii) on the date of the proposed Conversion, in the case of a Conversion to or in respect of Base Eurodollar Rate Advances, and subject to the provisions of Section 2.10 Sections 2.13, 2.16 and Section 2.152.18, Convert all Advances of one Type comprising the same Borrowing into Advances of another Type; provided, however, that, in the case of that any Conversion of any Eurodollar Rate Advances into Base Rate Advances made on a any day other than the last day of an Interest Period for such Eurodollar Rate Advances shall be subject to the provisions of Section 9.4(b); and provided, further, that no Revolving Credit Advance may be converted into a Eurodollar Rate Advance after the date that is one month prior to (a) in the case of a Revolving Credit Advance made by an Objecting Lender, the first anniversary of such Objecting Lender's Commitment Expiration Date, and (b) in the case of all Revolving Credit Advances, the Borrower shall first anniversary of the Termination Date and provided, still further, that no Revolving Credit Advance may be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.4(b)converted into a Eurodollar Rate Advance if an Event of Default has occurred and is continuing. Each such Notice notice of a Conversion shall be in substantially the form of Exhibit 2.11 and shall, within the restrictions specified above, specify (Aa) the date of such Conversion, (Bb) the Advances to be Converted, and (Cc) if such Conversion is into Eurodollar Rate Advances, the duration of the Interest Period for each such Advance, and (D) the aggregate amount of Advances proposed to be Converted. Notwithstanding the foregoing, the Borrower may not Convert Base Rate Advances into Eurodollar Rate Advances and may not select a new Interest Period for Eurodollar Rate Advances at any time an Event of Default has occurred and is continuing.
Appears in 2 contracts
Samples: Revolving Credit and Competitive Advance Facility Agreement (El Paso Natural Gas Co), 364 Day Revolving Credit and Competitive Advance Facility Agreement (El Paso Tennessee Pipeline Co)
Voluntary Conversion of Advances. Subject to the conditions set forth below, the Borrower may, may on any Business Day, by delivering a notice of Conversion (a “"Notice of Conversion”") to the Agent not later than 12:00 noon (i) on the third Business Day prior to the date of the proposed Conversion, in the case of a Conversion to or in respect of Eurodollar Rate Advances and (ii) on the date of the proposed Conversion, in the case of a Conversion to or in respect of Base Rate Advances, and subject to the provisions of Section 2.10 Sections 2.09 and Section 2.152.13, Convert all Advances of one Type comprising the same Borrowing into Advances of another Type; provided, however, that, in the case of any Conversion of any Eurodollar Rate Advances into Base Rate Advances on a day other than the last day of an Interest Period for such Eurodollar Rate Advances, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.4(b8.04(b). Each such Notice of Conversion shall be in substantially the form of Exhibit 2.11 2.09 and shall, within the restrictions specified above, specify (A) the date of such Conversion, (B) the Advances to be Converted, (C) if such Conversion is into Eurodollar Rate Advances, the duration of the Interest Period for each such Advance, and (D) the aggregate amount of Advances proposed to be Converted. Notwithstanding the foregoing, the Borrower may not Convert Base Rate Advances into Eurodollar Rate Advances and may not select a new Interest Period for Eurodollar Rate Advances at any time an Event of Default has occurred and is continuing.
Appears in 2 contracts
Samples: Credit Agreement (Alliant Energy Corp), Credit Agreement (Alliant Energy Corp)
Voluntary Conversion of Advances. Subject to So long as no Event of Default or event that would constitute an Event of Default but for the conditions set forth belowrequirement that notice be given or time elapse or both has occurred and is continuing, then the Borrower may, may on any Business Day, by delivering a upon notice of Conversion (a “Notice of Conversion”) given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (iNew York City time) on the third Business Day prior to the date of the proposed Conversion, in the case of a Conversion to or in respect of Eurodollar Rate Advances and (ii) on the date of the proposed Conversion, in the case of a Conversion to or in respect of Base Rate Advances, and subject to the provisions of Section 2.10 Sections 2.07 and Section 2.152.11 hereof, Convert all or a portion of Advances of one Type comprising constituting the same Borrowing into Advances of another TypeType or Advances of the same Type to a new Interest Period; provided, however, that, in the case of that any Conversion of any Eurodollar Rate Advances into Base Rate Advances on a day other than or Eurodollar Rate Advances into Eurodollar Rate Advances having new Interest Periods shall be made on, and only on, the last day of an Interest Period for such Eurodollar Rate Advances, unless the Borrower shall be obligated to also reimburse the Lenders Banks in respect thereof pursuant to Section 8.4(b)8.04(b) hereof on the date of such Conversion. Each such Notice notice of a Conversion shall be in substantially the form of Exhibit 2.11 and shall, within the restrictions specified above, specify (Ai) the date of such Conversion, (Bii) the Advances to be Converted, and (Ciii) if such Conversion is into or relating to Eurodollar Rate Advances, the duration of the Interest Period for each such Advance, and (D) the aggregate amount . The Administrative Agent shall promptly notify each Bank of Advances proposed to be Converted. Notwithstanding the foregoing, any notice received from the Borrower may not Convert Base Rate Advances into Eurodollar Rate Advances and may not select a new Interest Period for Eurodollar Rate Advances at any time an Event of Default has occurred and is continuingpursuant to this Section.
Appears in 2 contracts
Samples: Credit Agreement (Uil Holdings Corp), Credit Agreement (Uil Holdings Corp)
Voluntary Conversion of Advances. Subject So long as no Event of Default with respect to a Borrower or event that would constitute an Event of Default with respect to such Borrower but for the conditions set forth belowrequirement that notice be given or time elapse or both has occurred and is continuing, the then such Borrower may, may on any Business Day, by delivering a upon notice of Conversion (a “Notice of Conversion”) given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (iNew York City time) on the third Business Day prior to the date of the proposed Conversion, in the case of a Conversion to or in respect of Eurodollar Rate Advances and (ii) on the date of the proposed Conversion, in the case of a Conversion to or in respect of Base Rate Advances, and subject to the provisions of Section 2.10 Sections 2.09 and Section 2.152.13 hereof, Convert all Advances of one Type comprising constituting the same Borrowing into Advances of another TypeType or Advances of the same Type to a new Interest Period; provided, however, that, in the case of that any Conversion of any Eurodollar Rate Advances into Base Rate Advances on a day other than or Eurodollar Rate Advances into Eurodollar Rate Advances having new Interest Periods shall be made on, and only on, the last day of an Interest Period for such Eurodollar Rate Advances, the unless such Borrower shall be obligated to also reimburse the Lenders Banks in respect thereof pursuant to Section 8.4(b)8.04(b) hereof on the date of such Conversion. Each such Notice notice of a Conversion shall be in substantially the form of Exhibit 2.11 and shall, within the restrictions specified above, specify (Ai) the date of such Conversion, (Bii) the Advances to be Converted, and (Ciii) if such Conversion is into or relating to Eurodollar Rate Advances, the duration of the Interest Period for each such Advance, and (D) the aggregate amount . The Administrative Agent shall promptly notify each Bank of Advances proposed any notice received from a Borrower pursuant to be Converted. Notwithstanding the foregoing, the Borrower may not Convert Base Rate Advances into Eurodollar Rate Advances and may not select a new Interest Period for Eurodollar Rate Advances at any time an Event of Default has occurred and is continuingthis Section.
Appears in 2 contracts
Samples: Credit Agreement (Uil Holdings Corp), Credit Agreement (Uil Holdings Corp)
Voluntary Conversion of Advances. Subject to the conditions set forth below, the each Borrower may, on any Business Day, by delivering a notice of Conversion (a “Notice of Conversion”) to the Agent not later than 12:00 noon (i) on the third Business Day prior to the date of the proposed Conversion, in the case of a Conversion to or in respect of Eurodollar Rate Advances and (ii) on the date of the proposed Conversion, in the case of a Conversion to or in respect of Base Rate Advances, and subject to the provisions of Section 2.10 and Section 2.15, Convert all Advances of one Type made to such Borrower comprising the same Borrowing into Advances of another Type; provided, however, that, (x) any such Conversion shall involve an aggregate principal amount of not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) in the case of any Conversion of any Eurodollar Rate Advances into Base Rate Advances on a day other than the last day of an Interest Period for such Eurodollar Rate Advances, the such Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.4(b8.4(d). Each such Notice of Conversion shall be in substantially the form of Exhibit 2.11 and shall, within the restrictions specified above, specify (A) the date of such Conversion, (B) the Advances to be Converted, (C) if such Conversion is into Eurodollar Rate Advances, the duration of the Interest Period for each such Advance, and (D) the aggregate amount of Advances proposed to be Converted. Notwithstanding the foregoing, the no Borrower may not Convert Base Rate Advances into Eurodollar Rate Advances and may not or select a new Interest Period for Eurodollar Rate Advances at any time an Unmatured Default or Event of Default has occurred and is continuingcontinuing with respect to such Borrower.
Appears in 1 contract
Samples: Master Credit Agreement (Wisconsin Power & Light Co)
Voluntary Conversion of Advances. Subject to the conditions set forth below, the each Borrower may, on any Business Day, by delivering a notice of Conversion (a “Notice of Conversion”) to the Agent not later than 12:00 noon (i) on the third U.S. Government Securities Business Day prior to the date of the proposed Conversion, in the case of a Conversion to or in respect of Eurodollar Rate SOFR Advances and (ii) on the date of the proposed Conversion, in the case of a Conversion to or in respect of Base Rate Advances, and subject to the provisions of Section 2.10 and Section 2.152.14(b), Convert all Advances of one Type made to such Borrower comprising the same Borrowing into Advances of another Type; provided, however, that, (x) any such Conversion shall involve an aggregate principal amount of not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) in the case of any Conversion of any Eurodollar Rate SOFR Advances into Base Rate Advances on a day other than the last day of an Interest Period for such Eurodollar Rate SOFR Advances, the such Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.4(b8.4(d). Each such Notice of Conversion shall be in substantially the form of Exhibit 2.11 and shall, within the restrictions specified above, specify (A) the date of such Conversion, (B) the Advances to be Converted, (C) if such Conversion is into Eurodollar Rate SOFR Advances, the duration of the Interest Period for each such Advance, and (D) the aggregate amount of Advances proposed to be Converted. Notwithstanding the foregoing, the no Borrower may not Convert Base Rate Advances into Eurodollar Rate SOFR Advances and may not or select a new Interest Period for Eurodollar Rate SOFR Advances at any time an Unmatured Default or Event of Default has occurred and is continuingcontinuing with respect to such Borrower.
Appears in 1 contract
Samples: Five Year Master Credit Agreement (Wisconsin Power & Light Co)
Voluntary Conversion of Advances. Subject to the conditions set forth below, the The Borrower may, may on any Business Day, by delivering a upon notice of Conversion (a “Notice of Conversion”) given to the Agent Bank not later than 12:00 noon (iNew York City time) on the third Business Day prior to the date of the proposed Conversion, in the case of a Conversion to or in respect of Eurodollar Rate Advances and (ii) on the date of the proposed Conversion, in the case of a Conversion to or in respect of Base Rate Advances, and subject to the provisions of Section 2.10 Sections 2.7 and Section 2.15, Convert all Advances an Advance of one Type comprising the same Borrowing into Advances an Advance of another Type; provided, however, provided that, except as otherwise provided in the case of Section 2.15(a), any Conversion of any Eurodollar Rate Advances Advance or any Reference Rate Advance into Base Rate Advances on a day other than an Advance of another Type shall be made on, and only on, the last day of an Interest Period for such Eurodollar Rate AdvancesAdvance or such Reference Rate Advance, as the case may be; provided, further, that the Borrower may not Convert an Advance into a Eurodollar Rate Advance or a Reference Rate Advance if the principal amount of the Advance to be Converted is less than $2,500,000.00, unless, on the date of such Conversion, the Borrower shall be obligated to reimburse the Lenders in respect thereof also obtains other Advances pursuant to Sections 2.1, 2.2 and 2.7 of the same Type and having the same Interest Period as such Eurodollar Rate Advance or such Reference Rate Advance, as the case may be, or Converts one or more other Advances pursuant to this Section 8.4(b)into an Advance of the same Type and having the same Interest Period as such Eurodollar Rate Advance or such Reference Rate Advance, as the case may be, and the aggregate amount of such Advances so made and Converted on such date is not less than $2,500,000.00. Each such Notice notice of a Conversion shall be in substantially the form of Exhibit 2.11 and pursuant to this Section 2.14 shall, within the restrictions specified above, specify (Aa) the date of such Conversion, (Bb) the Advances Advance to be Converted, Converted and (Cc) if such Conversion is into a Eurodollar Rate AdvancesAdvance or a Reference Rate Advance, the duration of the Interest Period for each such Advance, and (D) the aggregate amount of Advances proposed to be Converted. Notwithstanding the foregoing, the Borrower may not Convert Base Rate Advances into Eurodollar Rate Advances and may not select a new Interest Period for Eurodollar Rate Advances at any time an Event of Default has occurred and is continuing.
Appears in 1 contract
Samples: Credit Agreement (Allen Paul G)
Voluntary Conversion of Advances. Subject to the conditions set forth below, the Borrower may, may on any Business Day, by delivering a notice of Conversion (a “"Notice of Conversion”") to the Agent not later than 12:00 noon (i) on the third Business Day prior to the date of the proposed Conversion, in the case of a Conversion to or in respect of Eurodollar Rate Advances and (ii) on the date of the proposed Conversion, in the case of a Conversion to or in respect of Base Rate Advances, and subject to the provisions of Section 2.10 Sections 2.09 and Section 2.152.14, Convert all Advances of one Type comprising the same Borrowing into Advances of another Type; provided, however, that, in the case of any Conversion of any Eurodollar Rate Advances into Base Rate Advances on a day other than the last day of an Interest Period for such Eurodollar Rate Advances, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.4(b8.04(b). Each such Notice of Conversion shall be in substantially the form of Exhibit 2.11 2.10 and shall, within the restrictions specified above, specify (A) the date of such Conversion, (B) the Advances to be Converted, (C) if such Conversion is into Eurodollar Rate Advances, the duration of the Interest Period for each such Advance, and (D) the aggregate amount of Advances proposed to be Converted. Notwithstanding the foregoing, the Borrower may not Convert Base Rate Advances into Eurodollar Rate Advances and may not select a new Interest Period for Eurodollar Rate Advances at any time an Event of Default has occurred and is continuing.
Appears in 1 contract
Voluntary Conversion of Advances. Subject to the conditions set forth below, the Any Borrower may, may on any Business Day, by delivering a upon notice of Conversion (a “Notice of Conversion”) given to the Agent Administrative Agent, not later than 10:00 A.M. (New York City time) on the Business Day of the proposed Conversion of Eurodollar Rate Advances to Base Rate Advances and not later than 12:00 noon (iNew York City time) on the third Business Day prior to the date of the proposed Conversion, Conversion in the case of a Conversion to or in respect of Eurodollar Base Rate Advances and (ii) on the date of the proposed Conversion, in the case of a Conversion to or in respect of Base Eurodollar Rate Advances, and subject to the provisions of Section 2.10 Sections 2.13, 2.16 and Section 2.152.18, Convert all Advances of one Type comprising the same Borrowing into Advances of another Type; provided, however, that, in the case of that any Conversion of any Eurodollar Rate Advances into Base Rate Advances made on a any day other than the last day of an Interest Period for such Eurodollar Rate Advances shall be subject to the provisions of Section 9.4(b); and provided, further, that no Revolving Credit Advance may be converted into a Eurodollar 35 30 Rate Advance after the date that is one month prior to (a) in the case of a Revolving Credit Advance made by an Objecting Lender, the second anniversary of such Objecting Lender's Commitment Expiration Date, and (b) in the case of all Revolving Credit Advances, the Borrower shall second anniversary of the Termination Date; and provided, still further, that no Revolving Credit Advance may be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.4(b)converted into a Eurodollar Rate Advance if an Event of Default has occurred and is continuing. Each such Notice notice of a Conversion shall be in substantially the form of Exhibit 2.11 and shall, within the restrictions specified above, specify (Aa) the date of such Conversion, (Bb) the Advances to be Converted, and (Cc) if such Conversion is into Eurodollar Rate Advances, the duration of the Interest Period for each such Advance, and (D) the aggregate amount of Advances proposed to be Converted. Notwithstanding the foregoing, the Borrower may not Convert Base Rate Advances into Eurodollar Rate Advances and may not select a new Interest Period for Eurodollar Rate Advances at any time an Event of Default has occurred and is continuing.
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Samples: Revolving Credit and Competitive Advance Facility Agreement (El Paso Natural Gas Co)
Voluntary Conversion of Advances. Subject to the conditions set forth below, the Any Borrower may, may on any Business Day, by delivering a upon notice of Conversion (a “Notice of Conversion”) given to the Agent Administrative Agent, not later than 10:00 A.M. (New York City time) on the Business Day of the proposed Conversion of Eurodollar Rate Advances to Base Rate Advances and not later than 12:00 noon (iNew York City time) on the third Business Day prior to the date of the proposed Conversion, Conversion in the case of a Conversion to or in respect of Eurodollar Base Rate Advances and (ii) on the date of the proposed Conversion, in the case of a Conversion to or in respect of Base Eurodollar Rate Advances, and subject to the provisions of Section 2.10 Sections 2.13, 2.16 and Section 2.152.18, Convert all Advances of one Type comprising the same Borrowing into Advances of another Type; provided, however, that, in the case of that any Conversion of any Eurodollar Rate Advances into Base Rate Advances made on a any day other than the last day of an Interest Period for such Eurodollar Rate Advances shall be subject to the provisions of Section 9.4(b); and provided, further, that no Revolving Credit Advance may be converted into a Eurodollar Rate Advance after the date that is one month prior to (a) in the case of a Revolving Credit Advance made by an Objecting Lender, the second anniversary of such Objecting Lender's Commitment Expiration Date, and (b) in the case of all Revolving Credit Advances, the Borrower shall second anniversary of the Termination Date and provided, still further, that no Revolving Credit Advance may be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.4(b)converted into a Eurodollar Rate Advance if an Event of Default has occurred and is continuing. Each such Notice notice of a Conversion shall be in substantially the form of Exhibit 2.11 and shall, within the restrictions specified above, specify (Aa) the date of such Conversion, (Bb) the Advances to be Converted, and (Cc) if such Conversion is into Eurodollar Rate Advances, the duration of the Interest Period for each such Advance, and (D) the aggregate amount of Advances proposed to be Converted. Notwithstanding the foregoing, the Borrower may not Convert Base Rate Advances into Eurodollar Rate Advances and may not select a new Interest Period for Eurodollar Rate Advances at any time an Event of Default has occurred and is continuing.
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Samples: 364 Day Revolving Credit and Competitive Advance Facility Agreement (El Paso Tennessee Pipeline Co)
Voluntary Conversion of Advances. Subject to the conditions set forth below, the Any Borrower may, may on any Business Day, by delivering a upon notice of Conversion (a “Notice of Conversion”) given to the Agent Administrative Agent, not later than 10:00 A.M. (New York City time) on the Business Day of the proposed Conversion of Eurodollar Rate Advances to Base Rate Advances and not later than 12:00 noon (iNew York City time) on the third Business Day prior to the date of the proposed Conversion, Conversion in the case of a Conversion to or in respect of Eurodollar Base Rate Advances and (ii) on the date of the proposed Conversion, in the case of a Conversion to or in respect of Base Eurodollar Rate Advances, and subject to the provisions of Section 2.10 Sections 2.13, 2.16 and Section 2.152.18, Convert all Advances of one Type comprising the same Borrowing into Advances of another Type; provided, however, that, in the case of that any Conversion of any Eurodollar Rate Advances into Base Rate Advances made on a any day other than the last day of an Interest Period for such Eurodollar Rate Advances shall be subject to the provisions of Section 9.4(b); and provided, further, that no Revolving Credit Advance may be converted into a Eurodollar Rate Advance after the date that is one month prior to (a) in the case of a Revolving Credit Advance made by an Objecting Lender, the second anniversary of such Objecting Lender's Commitment Expiration Date, and (b) in the case of all Revolving Credit 36 31 Advances, the Borrower shall second anniversary of the Termination Date and provided, still further, that no Revolving Credit Advance may be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.4(b)converted into a Eurodollar Rate Advance if an Event of Default has occurred and is continuing. Each such Notice notice of a Conversion shall be in substantially the form of Exhibit 2.11 and shall, within the restrictions specified above, specify (Aa) the date of such Conversion, (Bb) the Advances to be Converted, and (Cc) if such Conversion is into Eurodollar Rate Advances, the duration of the Interest Period for each such Advance, and (D) the aggregate amount of Advances proposed to be Converted. Notwithstanding the foregoing, the Borrower may not Convert Base Rate Advances into Eurodollar Rate Advances and may not select a new Interest Period for Eurodollar Rate Advances at any time an Event of Default has occurred and is continuing.
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Samples: Revolving Credit and Competitive Advance Facility Agreement (El Paso Natural Gas Co)
Voluntary Conversion of Advances. Subject to the conditions set forth below, the Borrower may, may on any Business Day, by delivering a notice of Conversion (a “"Notice of Conversion”") to the Agent not later than 12:00 noon (i) on the third Business Day prior to the date of the proposed Conversion, in the case of a Conversion to or in respect of Eurodollar Rate Advances and (ii) on the date of the proposed Conversion, in the case of a Conversion to or in respect of Base Rate Advances, and subject to the provisions of Section 2.10 Sections 2.08 and Section 2.152.13, Convert all Advances of one Type comprising the same Borrowing into Advances of another Type; provided, however, that, in the case of any Conversion of any Eurodollar Rate Advances into Base Rate Advances on a day other than the last day of an Interest Period for such Eurodollar Rate Advances, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.4(b9.04(b). Each such Notice of Conversion shall be in substantially the form of Exhibit 2.11 2.09 and shall, within the restrictions specified above, specify (A) the date of such Conversion, (B) the Advances to be Converted, (C) if such Conversion is into Eurodollar Rate Advances, the duration of the Interest Period for each such Advance, and (D) the aggregate amount of Advances proposed to be Converted. Notwithstanding the foregoing, the Borrower may not Convert Base Rate Advances into Eurodollar Rate Advances and may not select a new Interest Period for Eurodollar Rate Advances at any time an Event of Default has occurred and is continuing.
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Voluntary Conversion of Advances. Subject to the conditions set forth below, the Borrower may, The Company may on any Business Day, by delivering a upon notice of Conversion (a “Notice of Conversion”) given to the Agent Agent, not later than 10:00 A.M. (New York City time) on the Business Day of the proposed Conversion of Eurodollar Rate Advances to Base Rate Advances and not later than 12:00 noon (iNew York City time) on the third Business Day prior to the date of the proposed Conversion, Conversion in the case of a Conversion to or in respect of Eurodollar Base Rate Advances and (ii) on the date of the proposed Conversion, in the case of a Conversion to or in respect of Base Eurodollar Rate Advances, and subject to the provisions of Section 2.10 Sections 2.13, 2.16 and Section 2.152.18, Convert all Advances of one Type (other than Money Market Advances) comprising the same Borrowing into Advances of another TypeType (other than Money Market Advances); provided, however, that, in the case of that any Conversion of any Eurodollar Rate Advances into Base Rate Advances made on a any day other than the last day of an Interest Period for such Eurodollar Rate Advances shall be subject to the provisions of Section 9.4(b); and provided, further, that, without the consent of all the Lenders, no Base Rate Advance may be converted into a Eurodollar Rate Advance after the date that is one month prior to (a) in the case of an Advance made by an Objecting Lender, such Objecting Lender's Commitment Expiration Date, and (b) in the case of all Advances, the Borrower shall Termination Date and provided, still further that no Base Rate Advance may be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.4(b)converted into a Eurodollar Rate Advance if an Event of Default has occurred and is continuing. Each such Notice notice of a Conversion shall be in substantially the form of Exhibit 2.11 and shall, within the restrictions specified above, specify (Aa) the date of such Conversion, (Bb) the Advances to be Converted, and (Cc) if such Conversion is into Eurodollar Rate Advances, the duration of the Interest Period for each such Advance, and (D) the aggregate amount of Advances proposed to be Converted. Notwithstanding the foregoing, the Borrower may not Convert Base Rate Advances into Eurodollar Rate Advances and may not select a new Interest Period for Eurodollar Rate Advances at any time an Event of Default has occurred and is continuing.
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Samples: Revolving Credit Facility Agreement (El Paso Corp/De)