Common use of 2017 Conversions Clause in Contracts

2017 Conversions. Notwithstanding anything to the contrary in this Agreement, subject to the consent of the Administrative Agent and the Issuing Bank, such consent not to be unreasonably withheld, conditioned or delayed and pursuant to an offer (a “2017 Conversion Offer”) made by the Borrower after the Amendment Effective Date to any 2017 Bank, the Borrower is hereby permitted to consummate from time to time transactions with any individual 2017 Bank that in its sole and absolute discretion elects to consent to and accept such 2017 Conversion Offer to convert all (but not less than all) of such accepting 2017 Bank’s 2017 Commitment and 2017 Credit Exposure to an equal principal amount of a 2019 Commitment and 2019 Credit Exposure (a “2017 Conversion”). Upon the effectiveness of any such 2017 Conversion, (i) such accepting 2017 Bank shall become a 2019 Bank, (ii) such accepting 2017 Bank’s 2017 Commitments shall become 2019 Commitments in an aggregate principal amount equal to such accepting 2017 Bank’s 2017 Commitments and (iii) such accepting 2017 Bank’s 2017 Credit Exposure shall become a 2019 Credit Exposure in an aggregate principal amount equal to such accepting 2017 Bank’s 2017 Credit Exposure. In connection with any 2017 Conversion, the Borrower shall provide the Administrative Agent and Issuing Bank at least five Domestic Business Days’ (or such shorter period as may be agreed by the Administrative Agent) prior written notice thereof.

2017 Conversions. Notwithstanding anything to the contrary in this Agreement, subject to the consent of the Administrative Agent and the Issuing Bank, such consent not to be unreasonably withheld, conditioned or delayed and pursuant to an offer (a “2017 Conversion Offer”) made by the Borrower after the Amendment Effective Date to any 2017 Bank, the Borrower is hereby permitted to consummate from time to time transactions with any individual 2017 Bank that in its sole and absolute discretion elects to consent to and accept such 2017 Conversion Offer to convert all (but not less than all) of such accepting 2017 Bank’s 2017 Commitment and 2017 Credit Exposure to an equal principal amount of a 2019 2018 Commitment and 2019 2018 Credit Exposure (a “2017 Conversion”). Upon the effectiveness of any such 2017 Conversion, (i) such accepting 2017 Bank shall become a 2019 2018 Bank, (ii) such accepting 2017 Bank’s 2017 Commitments shall become 2019 2018 Commitments in an aggregate principal amount equal to such accepting 2017 Bank’s 2017 Commitments and (iii) such accepting 2017 Bank’s 2017 Credit Exposure shall become a 2019 2018 Credit Exposure in an aggregate principal amount equal to such accepting 2017 Bank’s 2017 Credit Exposure. In connection with any 2017 Conversion, the Borrower shall provide the Administrative Agent and Issuing Bank at least five Domestic Business Days’ (or such shorter period as may be agreed by the Administrative Agent) prior written notice thereof.

2017 Conversions. Notwithstanding anything to the contrary in this Agreement, subject to the consent of the Administrative Agent and the Issuing Bank, such consent not to be unreasonably withheld, conditioned or delayed and pursuant to an offer (a “2017 Conversion Offer”) made by the Borrower after the Amendment Effective Date to any 2017 Bank, the Borrower is hereby permitted to consummate from time to time transactions with any individual 2017 Bank that in its sole and absolute discretion elects to consent to and accept such 2017 Conversion Offer to convert all (but not less than all) of such accepting 2017 Bank’s 2017 Commitment and 2017 Credit Exposure to an equal principal amount of a 2019 20182019 Commitment and 2019 20182019 Credit Exposure (a “2017 Conversion”). Upon the effectiveness of any such 2017 Conversion, (i) such accepting 2017 Bank shall become a 2019 ▇▇▇▇▇▇▇▇ Bank, (ii) such accepting 2017 Bank’s 2017 Commitments shall become 2019 20182019 Commitments in an aggregate principal amount equal to such accepting 2017 Bank’s 2017 Commitments and (iii) such accepting 2017 Bank’s 2017 Credit Exposure shall become a 2019 20182019 Credit Exposure in an aggregate principal amount equal to such accepting 2017 Bank’s 2017 Credit Exposure. In connection with any 2017 Conversion, the Borrower shall provide the Administrative Agent and Issuing Bank at least five Domestic Business Days’ (or such shorter period as may be agreed by the Administrative Agent) prior written notice thereof.