Common use of VOLUNTARY CONVERSION OR CONTINUATION OF COMMITTED ADVANCES Clause in Contracts

VOLUNTARY CONVERSION OR CONTINUATION OF COMMITTED ADVANCES. (a) The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon (New York City time) on the third Business Day prior to the date of the proposed Conversion or continuance (a "Notice of Conversion/Continuation"), in substantially the form of Exhibit I hereto, and subject to the provisions of Section 2.02(b), (1) Convert all Committed Advances of one Type comprising the same Committed Borrowing into Advances of another Type and (2) upon the expiration of any Interest Period applicable to Committed Advances which are Eurodollar Rate Advances, continue all (or, subject to Section 2.02(b), any portion of) such Advances as Eurodollar Rate Advances and the succeeding Interest Period(s) of such continued Advances shall commence on the last day of the Interest Period of the Advances to be continued; provided, however, that any Conversion of any Eurodollar Rate Advances into Base Rate Advances shall be made on, and only on, the last day of an Interest Period for such Eurodollar Rate Advances. Each such Notice of Conversion/Continuation shall, within the restrictions specified above, specify (i) the date of such continuation or Conversion, (ii) the Committed Advances (or, subject to Section 2.02(b), any portion thereof) to be continued or Converted, (iii) if such continuation is of, or such Conversion is into, Eurodollar Rate Advances, the duration of the Interest Period for each such Committed Advance, and (iv) in the case of a continuation of or a Conversion into a Eurodollar Rate Advance, that no Potential Event of Default or Event of Default has occurred and is continuing.

Appears in 2 contracts

Samples: Credit Agreement (Dial Corp /New/), Credit Agreement (Dial Corp /New/)

AutoNDA by SimpleDocs

VOLUNTARY CONVERSION OR CONTINUATION OF COMMITTED ADVANCES. (a) The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon (New York City time) on the third Business Day prior to the date of the proposed Conversion or continuance (a "Notice of Conversion/Continuation"), in substantially the form of Exhibit I hereto, ) and subject to the provisions of Section 2.02(b), (1) Convert all Committed Advances of one Type comprising the same Committed Borrowing into Advances of another Type and (2) upon the expiration of any Interest Period applicable to Committed Advances which are Eurodollar Rate Advances, continue all (or, subject to Section 2.02(b), any portion of) such Advances as Eurodollar Rate Advances and the succeeding Interest Period(s) of such continued Advances shall commence on the last day of the Interest Period of the Advances to be continued; provided, however, that any Conversion of any Eurodollar Rate Advances into Base Rate Advances shall be made on, and only on, the last day of an Interest Period for such Eurodollar Rate Advances. Each such Notice of Conversion/Continuation shall, within the restrictions specified above, specify (i) the date of such continuation or Conversion, (ii) the Committed Advances (or, subject to Section 2.02(b), any portion thereof) to be continued or Converted, (iii) if such continuation is of, or such Conversion is into, Eurodollar Rate Advances, the duration of the Interest Period for each such Committed Advance, and (iv) in the case of a continuation of or a Conversion into a Eurodollar Rate Advance, that no Potential Event of Default or Event of Default has occurred and is continuing.

Appears in 2 contracts

Samples: Credit Agreement (Viad Corp), Credit Agreement (Viad Corp)

VOLUNTARY CONVERSION OR CONTINUATION OF COMMITTED ADVANCES. (a) The Borrower may on any Business Day, Banking Day upon notice given to the Administrative Agent not later than 12:00 noon (New York City time) on the third Business Eurodollar Banking Day prior to the date of the proposed Conversion or continuance (a "Notice of Conversion/Continuation"), in substantially the form of Exhibit I hereto, ) and subject to the --------------------------------- provisions of Section 2.02(b)2.3, (1) Convert all or any portion of Committed Advances of one Type comprising the same Committed Borrowing into Advances of another Type and (2) upon the expiration of any Interest Period applicable to Committed Advances which are Eurodollar Rate Advances, continue all (or, subject to Section 2.02(b)2.3, any portion of) such Advances as Eurodollar Rate Advances and the succeeding Interest Period(s) of such continued Advances shall commence on the last day of the Interest Period of the Advances to be continued; provided, however, that any Conversion of any Eurodollar Rate Advances -------- ------- into Base Rate Advances shall be made on, and only on, the last day of an Interest Period for such Eurodollar Rate Advances. Each such Notice of Conversion/Continuation shall, within the restrictions specified above, specify (i) the date of such continuation or Conversion, (ii) the Committed Advances (or, subject to Section 2.02(b)2.3, any portion thereof) to be continued or Converted, (iii) if such continuation is of, or such Conversion is into, Eurodollar Rate Advances, the duration of the Interest Period for of each such Committed Advance, and (iv) in the case of a continuation of or a Conversion into a Eurodollar Rate Advance, that no Potential Event of Default or Event of Default has occurred and is continuing. Each Conversion or continuation shall be in a minimum amount of $2,000,000 and multiples of $1,000,000.

Appears in 1 contract

Samples: Credit Agreement (Amgen Inc)

VOLUNTARY CONVERSION OR CONTINUATION OF COMMITTED ADVANCES. (a) The Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon (New York City time) on the third Business Day prior to the date of the proposed Conversion or continuance (a "Notice of Conversion/Continuation"), in substantially the form of Exhibit I hereto, ) and subject to the provisions of Section 2.02(b), (1) Convert all Committed Advances of one Type comprising the same Committed Borrowing into Advances of another Type and (2) upon the expiration of any Interest Period applicable to Committed Advances which are Eurodollar Rate Advances, continue all (or, subject to Section 2.02(b), any portion of) such Advances as Eurodollar 35 Rate Advances and the succeeding Interest Period(s) of such continued Advances shall commence on the last day of the Interest Period of the Advances to be continued; provided, however, that any Conversion of any Eurodollar Rate Advances into Base Rate Advances shall be made on, and only on, the last day of an Interest Period for such Eurodollar Rate Advances. Each such Notice of Conversion/Continuation shall, within the restrictions specified above, specify (i) the date of such continuation or Conversion, (ii) the Committed Advances (or, subject to Section 2.02(b), any portion thereof) to be continued or Converted, (iii) if such continuation is of, or such Conversion is into, Eurodollar Rate Advances, the duration of the Interest Period for each such Committed Advance, and (iv) in the case of a continuation of or a Conversion into a Eurodollar Rate Advance, that no Potential Event of Default or Event of Default has occurred and is continuing.

Appears in 1 contract

Samples: Credit Agreement (Viad Corp)

AutoNDA by SimpleDocs

VOLUNTARY CONVERSION OR CONTINUATION OF COMMITTED ADVANCES. (a) The Each Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon 1:00 P.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion or continuance (a "Notice of Conversion/Continuation"), in substantially the form of Exhibit I hereto, and subject to the provisions of Section 2.02(b)Sections 2.02 and 2.11, (1) Convert all Committed Advances of one Type (other than Eurocurrency Advances in a Major Currency (other than Dollars) or an Alternative Currency) comprising the same Committed Borrowing made to such Borrower into Advances of another Type denominated in Dollars and (2) upon the expiration of any Eurocurrency Interest Period applicable to Committed Advances which are Eurodollar Rate Eurocurrency Advances, continue all (or, subject to Section 2.02(b), any portion of) such Advances as Eurodollar Rate Eurocurrency Advances and the succeeding Eurocurrency Interest Period(s) of such continued Advances Advance shall commence on the last day of the Eurocurrency Interest Period of the Advances Advance to be continued; provided, however, that any Conversion of any Eurodollar Rate Eurocurrency Advances into Base Rate Advances shall be made on, and only on, the last day of an a Eurocurrency Interest Period for such Eurodollar Rate Eurocurrency Advances. Each such Notice notice of Conversion/Continuation a continuation or Conversion shall, within the restrictions specified above, specify (i) the date of such continuation or Conversion, (ii) the Committed Advances (or, subject to Section 2.02(b), any portion thereof) to be continued or Converted, (iii) if such continuation is of, or such Conversion is into, Eurodollar into Eurocurrency Rate Advances, the duration of the Eurocurrency Interest Period for each such Committed Advance, Advance and (iv) in the case of a continuation of or a Conversion into a Eurodollar Rate Advance, that no Potential Event of Default or Event of Default has occurred and is continuing.

Appears in 1 contract

Samples: Credit Agreement (Bwip Inc)

VOLUNTARY CONVERSION OR CONTINUATION OF COMMITTED ADVANCES. (a) The Each Borrower may on any Business Day, upon notice given to the Administrative Agent not later than 12:00 noon (New York City time) on the third Business Day prior to the date of the proposed Conversion or continuance (a "Notice of Conversion/Continuation"), in substantially the form of Exhibit I hereto, ) and subject to the provisions of Section 2.02(b), (1) Convert all 31 Amended and Restated Credit Agreement (Long Term) Committed Advances of one Type comprising the same Committed Borrowing into Advances of another Type in the same currency and (2) upon the expiration of any Interest Period applicable to Committed Advances which are Eurodollar Eurocurrency Rate Advances, continue all (or, subject to Section 2.02(b), any portion of) such Advances as Eurodollar Eurocurrency Rate Advances and the succeeding Interest Period(s) of such continued Advances shall commence on the last day of the Interest Period of the Advances to be continued; provided, however, that any Conversion of any Eurodollar Eurocurrency Rate Advances into Base Rate Advances or Canadian Prime Rate Advances shall be made on, and only on, the last day of an Interest Period for such Eurodollar Eurocurrency Rate Advances. Each such Notice of Conversion/Continuation shall, within the restrictions specified above, specify (i) the date of such continuation or Conversion, (ii) the Committed Advances (or, subject to Section 2.02(b), any portion thereof) to be continued or Converted, (iii) if such continuation is of, or such Conversion is into, Eurodollar Eurocurrency Rate Advances, the duration of the Interest Period for each such Committed Advance, and (iv) in the case of a continuation of or a Conversion into a Eurodollar Eurocurrency Rate Advance, that no Potential Event of Default or Event of Default has occurred and is continuing.

Appears in 1 contract

Samples: Credit Agreement (Viad Corp)

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