Notice of Conversion or Continuation definition
Examples of Notice of Conversion or Continuation in a sentence
If the Borrower requests a conversion to, or continuation of, Fixed Rate Loans in any such Notice of Conversion or Continuation, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one (1) month’s duration.
At the time the Borrower gives a Notice of Borrowing or Notice of Conversion or Continuation in respect of the making of, or conversion into or continuation as, a Borrowing of Term Benchmark Loans in accordance with Section 2.6(a), the Borrower shall give the Administrative Agent written notice of the interest period (each, an “Interest Period”) applicable to such Borrowing, which Interest Period shall, at the option of the Borrower be a one, three or six month period.
Promptly after receipt of a Notice of Conversion or Continuation under this paragraph, Administrative Agent shall provide each Lender with a copy thereof and, in the case of a Conversion to or a continuation of SOFR Advances, notify each Lender of the applicable interest rate under Section 2.10.