Common use of Continuation and Conversion Elections Clause in Contracts

Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 1:00 p.m., Charlotte time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Days’ notice in the case of conversion to Base Rate Loans, or three Business Days’ notice in the case of conversion to LIBO Rate Loans, and in either case not more than five Business Days’ notice, that all, or any portion in an aggregate minimum amount of $2,000,000 and an integral multiple of $1,000,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of all Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default has occurred and is continuing.

Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 1:00 p.m.10:00 a.m., Charlotte New York time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Days’ Day's notice in the case of conversion to Base Rate Loans, or three Business Days’ ' notice in the case of conversion to LIBO Rate Loans, and in either case not more than five Business Days’ ' notice, that all, or any portion in an aggregate minimum amount of $2,000,000 and an integral multiple of $1,000,000 500,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of all Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default has occurred and is continuing.

Continuation and Conversion Elections. By Micro may from time to time by delivering a Continuation/Conversion Notice to the Administrative Agent on or before 1:00 p.m., Charlotte Eastern time, on a Business Day, the Borrower may from time to time irrevocably elect, in the case of LIBO Rate Loans, on not less than one Business Days’ notice in the case of conversion to Base Rate Loans, or three Business Days’ notice in the case of conversion to LIBO Rate Loans, and in either case not nor more than five Business Days’ ' notice, and in the case of Reference Rate Loans, on such Business Day, that all, or any portion in an aggregate minimum amount of $2,000,000 25,000,000 and an integral multiple of $1,000,000 of the Loans, be, in the case of Base Reference Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Base Reference Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan Loan, at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, each such LIBO Rate Loan shall, on such last day, automatically convert to a Base Reference Rate Loan); provided, however, that (x1) each such conversion or continuation shall be pro rated among the applicable outstanding Pro-Rata Revolving Loans of all Lenders that have made such LoansLenders, and (y2) no portion of the outstanding principal amount of any Pro-Rata Revolving Loans may be continued as, or be converted into, a LIBO Rate Loans when Loan with an Interest Period longer than one month while any Default has occurred and is continuing.

Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 1:00 p.m., Charlotte time, 10:00 a.m. on a Business Day, the Borrower Borrowers may from time to time irrevocably elect, on not less than one three Business Days’ Day’s notice in the case of conversion to Base Rate Loans, or three Business Days’ notice in the case of conversion to LIBO Rate Loans, and in either case not more than five Business Days’ notice, that all, or any portion in an aggregate minimum amount of $2,000,000 1,000,000 and an integral multiple of $1,000,000 500,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); providedprovided that, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of all Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default has occurred and is continuing.

Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice telephonic notice to the Administrative Agent on or before 1:00 p.m., Charlotte time, 12:00 noon on a Business Day (followed (within one Business Day) by the delivery of a confirming Continuation/Conversion Notice), the Borrower may from time to time irrevocably elect, on not less than one Business Days’ Day's notice in the case of conversion to Base Rate Loans, or three Business Days’ ' notice in the case of conversion to LIBO Rate Loans, and in either case not more than five Business Days’ ' notice, that all, or any portion in an aggregate minimum amount of $2,000,000 and an integral multiple of $1,000,000 500,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, provided that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of all Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default has occurred and is continuing.

Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 1:00 p.m., Charlotte time, 12:00 p.m. on a Business Day, the Borrower Borrowers may from time to time irrevocably elect, on not less than one Business Days’ Day's notice in the case of conversion to Base Rate Loans, or three Business Days’ ' notice in the case of conversion to LIBO Rate Loans, and in either case not more than five Business Days’ ' notice, that all, or any portion in an aggregate minimum amount of $2,000,000 1,000,000 and an integral multiple of $1,000,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, provided that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of all Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Event of Default has occurred and is continuing.

Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 1:00 p.m.10:00 a.m., Charlotte Central time, on a Business Day, the Borrower may from time to time irrevocably elect, elect,(i) on not less than one Business Days’ notice in the case of conversion to Base Rate Loans, or three Business Days’ notice in the case of conversion to LIBO Rate Loans, and in either case not nor more than five Business Days’ ' notice, in connection with any LIBO Rate Loan or (ii) on not less than three or more than five Business Days' notice, in connection with any Base Rate Loan, that all, or any portion in an aggregate minimum amount of $2,000,000 500,000 and an integral multiple of $1,000,000 500,000, of any Loans be, in the case of Base Rate Loans, converted into LIBO Rate Loans or beor, in the case of LIBO Rate Loans, be converted into a Base Rate Loans Loan or continued as a LIBO Rate Loans Loan (in the absence of delivery of a Continuation/Continuation/ Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); providedPROVIDED, howeverHOWEVER, that (xi) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of all Lenders that have made such LoansLenders, and (yii) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default has occurred and is continuing.

Continuation and Conversion Elections. By delivering a Continuation/Continuation/ Conversion Notice to the Administrative Agent on or before 1:00 p.m., Charlotte time, 10:00 a.m. on a Business Day, the each Borrower may from time to time irrevocably elect, on not less than one Business Days’ Day's notice in the case of conversion to Base Rate Loans, or three Business Days’ ' notice in the case of conversion to LIBO Rate Loans, and in either case not more than five Business Days’ ' notice, that all, or any portion in an aggregate minimum amount of $2,000,000 and an integral multiple of $1,000,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of all Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default has occurred and is continuing.

Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice (signed by all of the Borrowers) to the Administrative Agent on or before 1:00 p.m.10:00 a.m., Charlotte New York time, on a Business Day, the Borrower Borrowers may from time to time irrevocably elect, on not less than one Business Days’ notice in the case of conversion to Base Rate Loans, or three Business Days’ notice in the case of conversion to LIBO Rate Loans, and in either case not (3) nor more than five (5) Business Days’ ' notice, that all, all or any portion in an aggregate minimum amount of $2,000,000 and an integral multiple of $1,000,000 any Loans to any Borrower be, in the case of Base Rate Loans, converted into LIBO Rate Loans or bein an aggregate minimum amount of $500,000 and an integral multiple of $500,000, or, in the case of LIBO Rate Loans, be converted into a Base Rate Loans Loan or a LIBO Rate Loan with a different Interest Period, or continued as a LIBO Rate Loans Loan with the same Interest Period, in an aggregate minimum amount of $500,000 and an integral multiple of $500,000 (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three (3) Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (xa) each such conversion or continuation shall be pro rated prorated among the applicable outstanding Loans of all Lenders that have made such Loans, Lenders; and (yb) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Event of Default has occurred and is continuing.

Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 1:00 p.m., Charlotte 10:00 a.m. (New York City time), on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Days’ notice in the case of conversion to Base Rate Loans, or three Business Days’ notice in the case of conversion to LIBO Rate Loans, and in either case not nor more than five Business Days’ notice, ' notice that all, or any portion in an aggregate minimum amount of $2,000,000 10,000,000 and an integral multiple of $1,000,000 1,000,000, of any Revolving Loans be, in the case of Base Rate Loans, converted into LIBO Rate Loans or beor, in the case of LIBO Rate Loans, on the last day of an Interest Period with respect thereto be converted into a Base Rate Loans Loan or continued as a LIBO Rate Loans Loan (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that 33- 41 (x) i), except as provided in Section 4.1, each such conversion or continuation shall be pro rated among the applicable outstanding Revolving Loans of all Lenders that have made such LoansLenders, and (yii) at the Administrative Agent's election by notice to the Borrower, no portion of the outstanding principal amount of any Loans Revolving Loan may be continued as, or be converted into, a LIBO Rate Loans Loan when any Default has occurred and is continuing.

Continuation and Conversion Elections. By delivering a Continuation/Continuation/ Conversion Notice to the Administrative Agent on or before 1:00 p.m., Charlotte 11:00 a.m. (New York time, ) on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Days’ Day's notice in the case of conversion to Base Rate Loans, or three Business Days’ ' notice in the case of conversion to LIBO Rate Loans, and in either case not more than five Business Days’ ' notice, that all, or any portion in an aggregate minimum amount of $2,000,000 5,000,000 and an integral multiple of $1,000,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of all Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default has occurred and is continuingcontinuing unless the Agents otherwise agree.

Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 1:00 p.m., Charlotte time, on a Business DayAgent, the Borrower may from time to time irrevocably elect, on not less than one the requested date of any continuation or conversion (and on or before 10:00 a.m. on such Business Days’ notice Day) in the case of conversion to Base Rate Loans, or on not less than three Business Days’ notice (and on or before noon on such Business Day) in the case of conversion to LIBO Rate Loans, and in either case not more than five Business Days’ notice, that all, or any portion in an aggregate minimum amount of $2,000,000 5,000,000 and an integral multiple of $1,000,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of all Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default has occurred and is continuing.

Continuation and Conversion Elections. By delivering a Continuation/Continuation/ Conversion Notice to the Administrative Agent on or before 1:00 p.m., Charlotte time, 10:00 a.m. on a Business Day, the each Borrower may from time to time irrevocably elect, on not less than one Business Days’ Day's notice in the case of conversion to Base Rate Loans, or three Business Days’ ' notice in the case of conversion to LIBO Rate Loans, and in either case not more than five Business Days’ ' notice, that all, or any portion in an aggregate minimum amount of $2,000,000 and an integral multiple of $1,000,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of all Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default has occurred and is continuing.

Continuation and Conversion Elections. By delivering a Continuation/Continuation/ Conversion Notice to the Administrative Agent on or before 1:00 p.m.noon, Charlotte Atlanta, Georgia time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Days’ Day's notice in the case of conversion to Base Rate Loans, or three Business Days’ ' notice in the case of conversion to LIBO Rate Loans, and in either case not more than five seven Business Days’ ' notice, that all, or any portion in an aggregate minimum amount of $2,000,000 1,000,000 and an integral multiple of $1,000,000 100,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not no more than five seven Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of all Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Event of Default has occurred and is continuing.

Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 1:00 p.m., Charlotte time, 12:00 noon on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Days’ Day's notice in the case of conversion to Base Rate Loans, or three Business Days’ ' notice in the case of conversion to LIBO Rate Loans, and in either case not more than five ten Business Days’ ' notice, that all, or any portion in an aggregate minimum amount of $2,000,000 500,000 and an integral multiple of $1,000,000 100,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five ten Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of all Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default has occurred and is continuing.

Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 1:00 p.m.10:30 a.m., Charlotte New York time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Days’ Day's notice in the case of conversion to Base Rate Loans, or three Business Days’ ' notice in the case of conversion to LIBO Rate Loans, and in either case not more than five Business Days’ ' notice, that all, or any portion in an aggregate minimum amount of $2,000,000 2,500,000 and an integral multiple of $1,000,000 500,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of all Lenders that have made such Loans, Loans and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default has occurred and is continuing. SECTION II.5.

Continuation and Conversion Elections. By delivering a Continuation/Continuation/ Conversion Notice to the Administrative Agent on or before 1:00 p.m., Charlotte 10:00 a.m. (New York City time, ) on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Days’ Day's notice in the case of conversion to Base Rate Loans, or three Business Days’ ' notice in the case of conversion to LIBO Rate Loans, and in either case not more than five Business Days’ ' notice, that all, or any portion in an aggregate minimum amount of $2,000,000 1,000,000 and an integral multiple of $1,000,000 500,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); providedprovided that, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of all Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default has occurred and is continuing.

Continuation and Conversion Elections. By delivering a Continuation/Continuation/ Conversion Notice to the Administrative Agent on or before 1:00 p.m., Charlotte time, noon on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Days’ Day's notice in the case of conversion to Base Rate Loans, or three Business Days’ ' notice in the case of conversion to LIBO Rate Loans, and in either case not more than five Business Days’ ' notice, that all, or any portion in an aggregate minimum amount of $2,000,000 5,000,000 and an integral multiple of $1,000,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of all Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default has occurred and is continuing.

Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 1:00 p.m., Charlotte time, 10:00 a.m. on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Days’ Day’s notice in the case of conversion to Base Rate Loans, or three Business Days’ notice in the case of conversion to LIBO Rate Loans, and in either case not more than five Business Days’ notice, that all, or any portion in an aggregate minimum amount of $2,000,000 250,000 and an integral multiple of $1,000,000 100,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, provided that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of all Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default has occurred and is continuing.

Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 1:00 p.m., Charlotte time, 10:00 a.m. on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Days’ Day’s notice in the case of conversion to Base Rate Loans, or three Business Days’ notice in the case of conversion to LIBO Rate Loans, and in either case not more than five Business Days’ notice, that all, or any portion in an aggregate minimum amount of $2,000,000 1,000,000 and an integral multiple of $1,000,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of all Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default has occurred and is continuing.

Continuation and Conversion Elections. By delivering a ------------------------------------- Continuation/Conversion Notice to the Administrative Agent on or before 1:00 p.m.10:00 a.m., Charlotte Chicago time, on a Business Day, the Borrower may from time to time irrevocably elect, elect,(i) on not less than one Business Days’ notice in the case of conversion to Base Rate Loans, or three Business Days’ notice in the case of conversion to LIBO Rate Loans, and in either case not nor more than five Business Days’ ' notice, in connection with any LIBO Rate Loan or (ii) on not less than three or more than five Business Days' notice, in connection with any Base Rate Loan, that all, or any portion in an aggregate minimum amount of $2,000,000 500,000 and an integral multiple of $1,000,000 500,000, of any Loans be, in the case of Base Rate Loans, converted into LIBO Rate Loans or beor, in the case of LIBO Rate Loans, be converted into a Base Rate Loans Loan or continued as a LIBO Rate Loans Loan (in the absence of delivery of a Continuation/Continuation/ Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (xi) each such conversion ----------------- or continuation shall be pro rated among the applicable outstanding Loans of all Lenders that have made such LoansLenders, and (yii) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default has occurred and is continuing.

Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 1:00 p.m.10:00 a.m., Charlotte Central time, on a Business Day, the Borrower may from time to time irrevocably elect, (i) on not less than one Business Days’ notice in the case of conversion to Base Rate Loans, or three Business Days’ notice in the case of conversion to LIBO Rate Loans, and in either case not nor more than five Business Days’ notice, in connection with any LIBO Rate Loan or any Base Rate Loan, that all, or any portion in an aggregate minimum amount of $2,000,000 500,000 and an integral multiple of $1,000,000 500,000, of any Loans be, in the case of Base Rate Loans, converted into LIBO Rate Loans or beor, in the case of LIBO Rate Loans, be continued as a LIBO Rate Loan, and (iii) on or before the last day of the then current Interest Period with respect to a LIBO Rate Loan that such Loan be converted into a Base Rate Loans or continued as LIBO Rate Loans Loan (in the absence of delivery of a Continuation/Continuation/ Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (xi) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of all Lenders that have made such LoansLenders, and (yii) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default has occurred and is continuing.

Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 1:00 p.m., Charlotte time, 10:00 a.m. on a Business Day, the Borrower Royalty Sub may from time to time irrevocably elect, on not less than one Business Days’ Day's notice in the case of conversion to Base Rate Loans, or three Business Days’ ' notice in the case of conversion to LIBO Rate Loans, and in either case not more than five Business Days’ ' notice, that allall Loans, or any portion of Loans in an aggregate minimum amount of $2,000,000 1,000,000, and an integral multiple of $1,000,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, provided that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of all Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default has occurred and is continuing.