Common use of Voluntary Conversion Procedure Clause in Contracts

Voluntary Conversion Procedure. The Borrower may on any Business Day, upon delivery of a duly completed Conversion Notice given to the Agent (x) not later than 12:00 p.m., New York City time, (1) three Business Days prior to the date of any proposed Conversion into or resulting in Term SOFR Loans, (2) five U.S. Government Securities Business Days prior to the date of any proposed Conversion into or resulting in Daily Simple SOFR Loans, and (y) not later than 1:00 p.m., New York City time, on the Business Day of any proposed Conversion into or resulting in ABR Loans, Convert all Term Loans of one Type made in connection with the same Borrowing into Term Loans of another Type (or combination of Types) or Term Loans of the same Type having the same or a new Interest Period; provided, however, that any Conversion of, or with respect to, any Term SOFR Loans shall be made on, and only on, the last day of an Interest Period for such Term SOFR Loans, unless the Borrower shall also reimburse the Lenders in respect thereof pursuant to Section 8.05(b) on the date of such Conversion. Each such Conversion Notice shall be irrevocable and shall, within the restrictions specified above, specify (i) the date of such Conversion and (ii) the Term Loans to be Converted.

Voluntary Conversion Procedure. The Borrower may on any Business Day, upon delivery of a duly completed Conversion Notice given to the Agent Lender (xi) not later than 12:00 p.m., New York City time, three (13) three Business Days prior to the date of any proposed Conversion into or resulting in Term SOFR Loans, (2) five U.S. Government Securities Business Days prior to the date of any proposed Conversion into or resulting in Daily Simple Term SOFR Loans, Loans and (yii) not later than 1:00 p.m., New York City time, on the Business Day of any proposed Conversion into or resulting in ABR Loans, Convert all Term Loans of one (1) Type made in connection with the same Borrowing into Term Loans of another Type (or combination of Types) or Term Loans of the same Type having the same or a new Interest Period; provided, however, that any Conversion of, or with respect to, any Term SOFR Loans shall be made on, and only on, the last day of an Interest Period for such Term SOFR Loans, unless the Borrower shall also reimburse the Lenders Lender in respect thereof pursuant to Section 8.05(b) on the date of such Conversion. Each such Conversion Notice shall be irrevocable and shall, within the restrictions specified above, specify (ix) the date of such Conversion and (iiy) the Term Loans to be Converted.

Voluntary Conversion Procedure. The Borrower may on any Business Day, upon delivery of a duly completed Conversion Notice given to the Agent (xi) not later than 12:00 p.m., New York City time, (1A) three (3) U.S. Government Securities Business Days prior to the date of any proposed Conversion into or resulting in Term SOFR Loans, Loans or (2B) five (5) U.S. Government Securities Business Days prior to the date of any proposed Conversion into or resulting in Daily Simple SOFR Loans, and (yii) not later than 1:00 p.m., New York City time, on the Business Day of any proposed Conversion into or resulting in ABR Loans, Convert all Term Loans of one (1) Type made in connection with the same Borrowing into Term Loans of another Type (or combination of Types) or Term Loans of the same Type having the same or a new Interest Period; provided, however, that any Conversion of, or with respect to, any Term SOFR Loans shall be made on, and only on, the last day of an Interest Period for such Term SOFR Loans, unless the Borrower shall also reimburse the Lenders in respect thereof pursuant to Section 8.05(b) on the date of such Conversion. Each such Conversion Notice shall be irrevocable and shall, within the restrictions specified above, specify (ix) the date of such Conversion and (iiy) the Term Loans to be Converted.