Conversion and Continuation. (i) Borrower may elect from time to time, subject to the other provisions of this Section 2.11, to convert all or any part of a ratable Advance into any other type of Advance; provided that any conversion of a ratable LIBOR Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto.
(ii) Adjusted Alternate Base Rate Advances shall continue as Adjusted Alternate Base Rate Advances unless and until such Adjusted Alternate Base Rate Advances are converted into ratable LIBOR Advances pursuant to a Conversion/Continuation Notice from Borrower in accordance with Section 2.11(g)(iv). Ratable LIBOR Advances shall continue until the end of the then applicable LIBOR Interest Period therefor, at which time each such Advance shall be automatically converted into an Adjusted Alternate Base Rate Advance unless the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice in accordance with Section 2.11(g)(iv) requesting that, at the end of such LIBOR Interest Period, such Advance either continue as an Advance of such type for the same or another LIBOR Interest Period.
(iii) Notwithstanding anything to the contrary contained in Sections 2.11(g)(i) or (g)(ii), no Advance may be converted into a LIBOR Advance or continued as a LIBOR Advance (except with the consent of the Required Lenders) when any Monetary Default or Event of Default has occurred and is continuing.
(iv) The Borrower shall give the Administrative Agent irrevocable notice (a "Conversion/Continuation Notice") of each conversion of an Advance or continuation of a LIBOR Advance not later than 11:00 a.m. (Chicago time) on the Business Day immediately preceding the date of the requested conversion, in the case of a conversion into an Adjusted Alternate Base Rate Advance, or 11:00 a.m. (Chicago time) at least three (3) Business Days prior to the date of the requested conversion or continuation, in the case of a conversion into or continuation of a ratable LIBOR Advance, specifying: (1) the requested date (which shall be a Business Day) of such conversion or continuation; (2) the amount and type of the Advance to be converted or continued; and (3) the amounts and type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a ratable LIBOR Advance, the duration of the LIBOR Interest Period applicable thereto.
Conversion and Continuation. (i) All or any part of the principal amount of Loans of any Type may, on any Business Day, be converted into any other Type or Types of Loans, except that (A) Eurodollar Rate Loans may be converted only on the last day of an applicable Interest Period and (B) Base Rate Loans may be converted into Eurodollar Rate Loans only on a Eurodollar Business Day.
(ii) Base Rate Loans shall continue as Base Rate Loans unless and until such Loans are converted into Loans of another Type. Eurodollar Rate Loans of any Type shall continue as Loans of such Type until the end of the then current Interest Period therefor, at which time they shall be automatically converted into Base Rate Loans unless the Borrower shall have given the Administrative Agent notice in accordance with Section 1.03(c)(iv) requesting either that such Loans continue as Loans of such Type for another Interest Period or that such Loans be converted into Loans of another Type at the end of such Interest Period.
(iii) Notwithstanding anything to the contrary contained in Section 1.03(c)(i) or (ii), during a Default, the Administrative Agent may notify the Borrower that Loans may only be converted into or continued as Loans of certain specified Types and, thereafter, until no Default shall continue to exist, Loans may not be converted into or continued as Loans of any Type other than one or more of such specified Types.
(iv) The Borrower shall give the Administrative Agent notice (which shall be irrevocable) of each conversion of Loans or continuation of Eurodollar Rate Loans no later than 11:00 a.m. on, in the case of a conversion into Base Rate Loans, the Business Day of, and, in the case of a conversion into or continuation of Eurodollar Rate Loans, the third Eurodollar Business Day before, the requested date of such conversion or continuation. Each notice of conversion or continuation shall be in the form of Schedule 1.03(c)(iv) and shall specify (A) the requested date of such conversion or continuation, (B) the amount and Type and, in the case of Eurodollar Rate Loans, the last day of the applicable Interest Period of the Loans to be converted or continued and (C) the amount and Type or Types of Loans into which such Loans are to be converted or as which such Loans are to be continued. Upon receipt of any such notice, the Administrative Agent shall promptly notify each Bank of (x) the contents thereof, (y) the amount and Type and, in the case of Eurodollar Rate Loans, the last day of the applicable ...
Conversion and Continuation. Each Revolving Borrowing and Term Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar Borrowing or a CDOR Rate Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the applicable Borrower may elect to convert such Borrowing to a different Type or to continue such Borrowing and, in the case of a Eurodollar Borrowing or CDOR Rate Borrowing, may elect Interest Periods therefor, all as provided in this Section 2.07. The applicable Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing. This Section shall not apply to Swingline Borrowings, which may not be converted or continued.
Conversion and Continuation. Each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower Representative may elect to convert such Borrowing to a different Type or to continue such Borrowing and, in the case of a Eurodollar Borrowing, may elect Interest Periods therefor, all as provided in this Section. The Borrower Representative may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing.
Conversion and Continuation. Each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Fixed Rate Borrowing, shall have an initial Interest Period and shall be denominated in Dollars or the applicable Foreign Currency as specified in such Borrowing Request. Thereafter, the Company may elect to convert such Borrowing to a different Type or to continue such Borrowing and, in the case of a Fixed Rate Borrowing, may elect Interest Periods therefor, all as provided in this Section. The Company may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing. This Section shall not apply to Swingline Borrowings, which may not be converted or continued.
Conversion and Continuation. (a) Whenever Borrower desires to convert all or a portion of an outstanding Base Rate Loan into one or more Eurodollar Loans, or to continue outstanding Eurodollar Loans for a new Interest Period, it shall give the Administrative Agent at least three (3) Business Days’ prior written notice substantially in the form attached hereto as Exhibit J (or telephonic notice promptly confirmed in writing) (a “Notice of Conversion/Continuation”). Such notice shall be given prior to 11:00 a.m. (Charlotte, North Carolina time) on the date specified at the Payment Office of the Administrative Agent. Each such Notice of Conversion/Continuation shall be irrevocable and shall specify the aggregate principal amount of the Loans to be converted or continued, the date of such conversion or continuation, whether the Loans are being converted into or continued as Eurodollar Loans and the Interest Period applicable thereto. If, upon the expiration of any Interest Period in respect of any Eurodollar Loan, Borrower shall have failed to deliver the Notice of Conversion/Continuation, Borrower shall be deemed to have elected to convert or continue such Eurodollar Loan to a Base Rate Loan. So long as any Default or Event of Default shall have occurred and be continuing, no Loans may be converted into or continued as (upon expiration of the current Interest Period) Eurodollar Loans unless the Administrative Agent and each of the Lenders shall have otherwise consented in writing. Except as provided in Sections 3.07 and 3.08, no conversion of any Eurodollar Loans shall be permitted except on the last day of the Interest Period in respect thereof.
(b) Without in any way limiting Borrower’s obligation to confirm in writing any telephonic notice, the Administrative Agent may act without liability upon the basis of telephonic notice believed by the Administrative Agent in good faith to be from Borrower prior to receipt of written confirmation. In each such case, Borrower hereby waives the right to dispute the Administrative Agent’s records of the terms of such telephonic notice, absent manifest error.
(c) The Administrative Agent shall promptly give each Lender notice by telephone (confirmed in writing) or by telecopy or facsimile transmission of the matters covered by the notices given to the Administrative Agent pursuant to this Section 2.05.
Conversion and Continuation. (1) The Company may elect from time to time to convert Eurodollar Rate Loans to Alternate Rate Loans by giving the Administrative Agent at least one Business Day's prior irrevocable notice of such election. Any conversion of Eurodollar Rate Loans may only be made on the last day of the applicable Interest Period. Subject to the limitation set forth in the last sentence of Paragraph 2(i)(3) hereof, the Company may elect from time to time to convert Alternate Rate Loans to Eurodollar Rate Loans by giving the Administrative Agent at least three (3) Eurodollar Business Days' prior irrevocable notice of such election. All such elections shall be made by means of a Loan Request. No Alternate Rate Loan shall be converted into a Eurodollar Rate Loan if an Event of Default or Potential Default has occurred and is continuing on the day occurring three Eurodollar Business Days prior to the date of the conversion requested by the Company or on the date of conversion. All or any part of outstanding Loans may be converted as provided herein, provided that partial conversions shall be in a minimum principal amount of $1,000,000.00 or whole multiples of $100,000.00 in excess thereof.
(2) Any Eurodollar Rate Loan may be continued as such upon the expiration of the Interest Period with respect thereto by the Company giving the Administrative Agent at least three Eurodollar Business Days' prior irrevocable notice of such election as set forth in a Loan Request; provided, however, that no Eurodollar Rate Loan may be continued as such when any Event of Default or Potential Default has occurred and is continuing on the day occurring three (3) Eurodollar Business Days prior to the proposed date of such continuation or on the date of conversion, but shall be automatically converted to an Alternate Rate Loan on the last day of the then current Interest Period applicable thereto, and the Administrative Agent shall notify the Company promptly that such automatic conversion will occur. If the Company shall fail to give notice as provided above, the Company shall be deemed to have elected to convert the affected Eurodollar Rate Loan to an Alternate Rate Loan on the last day of the relevant Interest Period.
Conversion and Continuation. (i) The Company may elect from time to time, subject to the provisions of Sections 2.3(a), 2.9 and 2.10 and the Lending Sublimits to convert all or any part of any Advance (other than a Bid Loan or Discount Advance) into a different type of Advance, provided that any conversion of any such Eurodollar Advance shall be made on, and only on, the last day of the applicable Eurodollar Interest Period. Discount Advances and Bid Loans are payable on the last day of the applicable Discount Loan Period or Bid Loan period and may be repaid out of new Advances hereunder but may not be converted directly to a different type of Advance.
(ii) Alternate Base Rate Advances shall continue as the same type of Advances unless and until such Advances are converted into a different form of Advance in accordance with the terms hereof. Federal Funds Advances shall continue as Federal Funds Advances unless and until (a) such Advances are converted into a different form of Advance in accordance with the terms hereof or (b) the Company has paid any such Federal Funds Advance prior to 10:00 a.m. (Chicago time) on any Business Day or given the Agent written notice before 10:00 a.m. (Chicago time) on any Business Day that such Federal Funds Advance will be repaid on such Business Day. Overnight Transaction Advances and Swingline Buydown Advances shall continue as Overnight Transaction Advances and Swingline Buydown Advances, respectively, unless and until (a) such Advances are converted into a different form of Advance in accordance with the terms hereof or (b) the Company or a Borrowing Subsidiary, as applicable, has paid any such Overnight Transaction Advance or Swingline Buydown Advance prior to 3:00 p.m. (Chicago time) on any Business Day or given the Agent written notice before 3:00 p.m. (Chicago -45- 52 time) on any Business Day that such Overnight Transaction Advance or Swingline Buydown Advance will be repaid on such Business Day. If the Company so notifies the Agent that it will be paying a Federal Funds Advance, Overnight Transaction Advance or Swingline Buydown Advance on any Business Day and fails to do so, such Advance shall be converted into an Alternate Base Rate Advance. Eurodollar Advances shall continue until the end of the then-applicable Eurodollar Interest Period therefor, at which time each such Advance shall be automatically converted to a Federal Funds Advance, unless the Company shall have given the Agent notice in accordance with Section 2.12(iii) requesting ...
Conversion and Continuation. (a) With respect to the principal amount of the Loans outstanding from time to time, subject to the terms and provisions of this Agreement, the Company shall have the option, to (a) convert on any Business Day all or any part of such outstanding principal amount maintained as a Prime Rate Loan at such time to a LIBOR Loan; provided, however, that each such LIBOR Loan shall be in a principal amount greater than or equal to $250,000 or an integral multiple of $250,000 in excess thereof, (b) convert all or any part of such outstanding principal amount maintained as a LIBOR Loan to a Prime Rate Loan on the last day of the Rate Period relating to such LIBOR Loan, or (c) effective as of the last day of any Rate Period during which the outstanding principal amount of a Loan is maintained as a LIBOR Loan, continue all or a portion of such outstanding principal amount as a LIBOR Loan and the succeeding Rate Period of each such continued LIBOR Loan shall commence on the last day of the Rate Period then ended; provided, however, that each such continued LIBOR Loan shall be in a principal amount greater than or equal to $250,000 or an integral multiple of $250,000 in excess thereof. Notwithstanding anything set forth herein, none of the outstanding principal amount of the Loans shall be converted to, or continued as, a LIBOR Loan if (y) the last day of the Rate Period relating to such LIBOR Loan does not occur on or before the Termination Date or (z) a Default or an Event of Default has occurred and is continuing.
(b) In the event the Company shall elect to convert or continue all or any part of the outstanding principal amount of a Loan as provided in the immediately preceding Subsection 2.12
(a) the Company shall deliver a written notice to the Agent (each such notice, a "Notice of Conversion or Continuation")
Conversion and Continuation. Each Revolving Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurocurrency Borrowing, shall have an initial Interest Period as specified in such Borrowing Request or as otherwise provided in Section 2.03. Thereafter, the Company may elect to convert such Borrowing to a different Type or to continue such Borrowing and, in the case of a Eurocurrency Borrowing, may elect Interest Periods therefor, all as provided in this Section; provided, however, that (i) a Borrowing denominated in one Currency may not be converted to a Borrowing in a different Currency and (ii) a Eurocurrency Borrowing denominated in an Approved Foreign Currency may not be converted to a Borrowing of a different Type. Subject to the foregoing, the Company may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing. This Section shall not apply to Swingline Borrowings or Protective Advances, which may not be converted or continued.
