Common use of Borrowing; Conversion; Continuation Clause in Contracts

Borrowing; Conversion; Continuation. Administrative Borrower may from time to time, on or after the Closing Date (and subject to the satisfaction of the requirements of Sections 3.1 and 3.2), request in a written or telephonic communication with Agent: (i) Advances to constitute LIBOR Rate Loans; (ii) that Reference Rate Loans be converted into LIBOR Rate Loans; or (iii) that existing LIBOR Rate Loans continue for an additional Interest Period. Any such request shall specify the aggregate amount of the requested LIBOR Rate Loans, the proposed Funding Date therefor (which shall be a Business Day, and with respect to continued LIBOR Rate Loans shall be the last day of the Interest Period of the existing LIBOR Rate Loans being continued), and the proposed Interest Period (in each case subject to the limitations set forth below). LIBOR Rate Loans may only be made, continued, or extended if, as of the proposed Funding Date therefor, each of the following conditions is satisfied:

Borrowing; Conversion; Continuation. Administrative Borrower may from time to time, on or after the Closing Date (and subject to the satisfaction of the requirements of Sections 3.1 and 3.2), request in a written or telephonic communication with Agent: (i) Advances to constitute LIBOR Rate Loans; (ii) that Reference Rate Loans be converted into LIBOR Rate Loans; or (iii) that existing LIBOR Rate Loans continue for an additional Interest Period. Any such request shall specify the aggregate amount of the requested LIBOR Rate Loans, the proposed Funding Date funding date therefor (which shall be a Business Day, and with respect to continued LIBOR Rate Loans shall be the last day of the Interest Period of the existing LIBOR Rate Loans being continued), and the proposed Interest Period (in each case subject to the limitations set forth below). LIBOR Rate Loans may only be made, continued, or extended if, as of the proposed Funding Date funding date therefor, each of the following conditions is satisfied: