Common use of Continuation Options Clause in Contracts

Continuation Options. (a) The Borrower may elect from time to time to convert Eurocurrency Rate Loans denominated in Dollars to Base Rate Loans by giving the Administrative Agent prior irrevocable notice of such election no later than 11:00 A.M., New York City time, on the Business Day preceding the proposed conversion date. The Borrower may elect from time to time to convert Base Rate Loans to Eurocurrency Rate Loans denominated in Dollars by giving the Administrative Agent prior irrevocable notice of such election no later than 11:00 A.M., New York City time, on the third Business Day preceding the proposed conversion date, provided that no Base Rate Loan under a particular Facility may be converted into a Eurocurrency Rate Loan denominated in Dollars when any Event of Default has occurred and is continuing and the Administrative Agent or the Majority Facility Lenders in respect of such Facility have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof. (b) Any Eurocurrency Rate Loan, CDOR Rate Loan, HIBOR Rate Loan or Mexican Peso Rate Loan may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Borrower giving irrevocable notice to the Administrative Agent, in accordance with the applicable provisions of the term “Interest Period” set forth in Section 1.01, of the length of the next Interest Period to be applicable to such Loans, provided that no Eurocurrency Rate Loan, CDOR Rate Loan, HIBOR Rate Loan or Mexican Peso Rate Loan under a particular Facility may be continued as such (i) when any Event of Default has occurred and is continuing and the Administrative Agent has or the Majority Facility Lenders in respect of such Facility have determined in its or their sole discretion not to permit such continuations or (ii) if an Event of Default specified in Section 8.01(f) with respect to any Loan Party is in existence, and provided, further, that if the Company shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to Base Rate Loans on the last day of such then expiring Interest Period. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.

Continuation Options. (a) The Each Borrower may elect from time to time to convert Eurocurrency Rate Loans denominated in Dollars to Base Rate Loans by giving the Administrative Agent prior irrevocable notice of such election no later than 11:00 A.M., New York City time, on the Business Day preceding the proposed conversion date. The Each Borrower may elect from time to time to convert Base Rate Loans to Eurocurrency Rate Loans denominated in Dollars by giving the Administrative Agent prior irrevocable notice of such election no later than 11:00 A.M., New York City time, on the third Business Day preceding the proposed conversion date, provided that no Base Rate Loan under a particular Facility may be converted into a Eurocurrency Rate Loan denominated in Dollars when any Event of Default has occurred and is continuing and the Administrative Agent or the Majority Facility Lenders in respect of such Facility have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof. (b) Any Eurocurrency Rate Loan, CDOR Rate Loan, HIBOR Rate Loan or Mexican Peso HIBOR Rate Loan may be continued as such upon the expiration of the then current Interest Period with respect thereto by the a Borrower giving irrevocable notice to the Administrative Agent, in accordance with the applicable provisions of the term “Interest Period” set forth in Section 1.01, of the length of the next Interest Period to be applicable to such Loans, provided that no Eurocurrency Rate Loan, CDOR Rate Loan, HIBOR Rate Loan or Mexican Peso HIBOR Rate Loan under a particular Facility may be continued as such (i) when any Event of Default has occurred and is continuing and the Administrative Agent has or the Majority Facility Lenders in respect of such Facility have determined in its or their sole discretion not to permit such continuations or (ii) if an Event of Default specified in Section 8.01(f) with respect to any Loan Party is in existence, and provided, further, that if the Company shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to Base Rate Loans on the last day of such then expiring Interest Period. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.

Continuation Options. (a) The applicable Borrower may elect from time to time to convert Eurocurrency Rate Term Benchmark Loans denominated in Dollars to Base Rate ABR Loans by giving the Administrative Agent at least two Business Days’ prior irrevocable notice of such election no later than 11:00 A.M.election, New York City time, provided that any such conversion of Term Benchmark Loans may only be made on the Business Day preceding the proposed conversion datelast day of an Interest Period with respect thereto. The applicable Borrower may elect from time to time to convert Base Rate ABR Loans to Eurocurrency Rate Term Benchmark Loans denominated in Dollars by giving the Administrative Agent at least three Business Days’ prior irrevocable notice of such election no later than 11:00 A.M., New York City time, on (which notice shall specify the third Business Day preceding length of the proposed conversion date, initial Interest Period therefor); provided that no Base Rate ABR Loan under a particular Facility may be converted into a Eurocurrency Rate Term Benchmark Loan denominated in Dollars when any Event of Default has occurred and is continuing and the Administrative Agent or the Majority Facility Lenders in respect of such Facility have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice notice, the Administrative Agent shall promptly notify each relevant Lender thereof. If any interest election requests a Term Benchmark Loan but does not specify an Interest Period, then the applicable Borrower shall be deemed to have selected an Interest Period of one month’s duration. (b) Any Eurocurrency Rate Loan, CDOR Rate Loan, HIBOR Rate Term Benchmark Loan or Mexican Peso Rate Loan may shall be continued as such upon the expiration of the then current Interest Period with respect thereto by unless the applicable Borrower giving irrevocable gives notice to the Administrative Agent, in accordance with the applicable provisions of the term “Interest Period” set forth in Section 1.011.1, of the a different length of the next Interest Period to be applicable to such Loans, provided that no Eurocurrency Rate Loan, CDOR Rate Loan, HIBOR Rate Loan or Mexican Peso Rate Loan under a particular Facility may be continued as such (i) when any Event of Default has occurred and is continuing and the Administrative Agent has or the Majority Facility Lenders in respect of such Facility have determined in its or their sole discretion not to permit such continuations or (ii) if an Event of Default specified in Section 8.01(f) with respect to any Loan Party is in existence, and provided, further, that if the Company shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to Base Rate Loans on the last day of such then expiring Interest Period. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.

Continuation Options. (a) The Borrower may elect from time to time to convert Eurocurrency Rate Loans denominated in Dollars to Base Rate Loans by giving the Administrative Agent prior irrevocable notice of such election no later than 11:00 A.M., New York City time, on the Business Day preceding the proposed conversion date. The Borrower may elect from time to time to convert Base Rate Loans to Eurocurrency Rate Loans denominated in Dollars by giving the Administrative Agent prior irrevocable notice of such election no later than 11:00 A.M., New York City time, on the third Business Day preceding the proposed conversion date, provided that no Base Rate Loan under a particular Facility may be converted into a Eurocurrency Rate Loan denominated in Dollars when any Event of Default has occurred and is continuing and the Administrative Agent or the Majority Facility Lenders in respect of such Facility have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof[Reserved]. (b) Any Eurocurrency Rate Loan, CDOR Rate Loan, HIBOR Rate Loan or Mexican Peso Rate Loan may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Borrower giving irrevocable written notice to the Administrative Agent, in accordance with the applicable provisions of the term “Interest Period” set forth in Section 1.011.1 and no later than 12:00 Noon, New York City time, on the third Business Day preceding the proposed continuation date, of the length of the next Interest Period to be applicable to such Loans; provided, provided that no if any such Eurocurrency Rate LoanLoan is so continued on any day other than the last day of the Interest Period applicable thereto, CDOR Rate Loan, HIBOR Rate Loan or Mexican Peso Rate Loan under a particular Facility may be continued as such (i) when the Borrower shall also pay any Event of Default has occurred and is continuing and the Administrative Agent has or the Majority Facility Lenders in respect of such Facility have determined in its or their sole discretion not amounts owing pursuant to permit such continuations or (ii) if an Event of Default specified in Section 8.01(f) with respect to any Loan Party is in existence, and 2.21; provided, further, that if the Company Borrower shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Eurocurrency Loans shall be automatically converted to Base Rate continued as Eurocurrency Loans having an Interest Period of one month’s duration on the last day of such then then-expiring Interest Period; provided, further, that if the Borrower wishes to, and is otherwise permitted to, request Eurocurrency Loans having an Interest Period other than one, two, three or six months in duration as provided in the definition of “Interest Period,” the applicable notice must be received by the Administrative Agent not later than 11:00 a.m. four Business Days prior to the requested date of such Borrowing or continuation, whereupon the Administrative Agent shall give prompt notice to the appropriate Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 11:00 a.m., three Business Days before the requested date of such Borrowing or continuation, the Administrative Agent shall notify the Borrower (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the Lenders. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.

Continuation Options. (a) The Borrower may elect from time to time to convert Eurocurrency LIBO Rate Loans denominated in Dollars or Term Benchmark Loans to Base Rate ABR Loans by giving the Administrative Agent at least two Business Days’ prior irrevocable notice of such election no later than 11:00 A.M.election, New York City time, provided that any such conversion of LIBO Rate Loans or Term Benchmark Loans may only be made on the Business Day preceding the proposed conversion datelast day of an Interest Period with respect thereto. The Borrower may elect from time to time to convert Base Rate ABR Loans to Eurocurrency LIBO Rate Loans denominated Loans, in Dollars the case of Tranche B Term Loans, or Term Benchmark Loans, in the case of Revolving Loans, by giving the Administrative Agent at least three Business Days’ prior irrevocable notice of such election no later than 11:00 A.M., New York City time, on (which notice shall specify the third Business Day preceding length of the proposed conversion date, initial Interest Period therefor); provided that no Base Rate ABR Loan under a particular Facility may be converted into a Eurocurrency LIBO Rate Loan denominated in Dollars or a Term Benchmark Loan when any Event of Default has occurred and is continuing and the Administrative Agent or the Majority Facility Lenders in respect of such Facility have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice notice, the Administrative Agent shall promptly notify each relevant Lender thereof. If any interest election requests a LIBO Rate Loan or Term Benchmark Loan but does not specify an Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. (b) Any Eurocurrency Rate Loan, CDOR Rate Loan, HIBOR LIBO Rate Loan or Mexican Peso Rate Term Benchmark Loan may shall be continued as such upon the expiration of the then current Interest Period with respect thereto by unless the Borrower giving irrevocable gives notice to the Administrative Agent, in accordance with the applicable provisions of the term “Interest Period” set forth in Section 1.011.1, of the a different length of the next Interest Period to be applicable to such Loans, provided that no Eurocurrency Rate Loan, CDOR Rate Loan, HIBOR Rate Loan or Mexican Peso Rate Loan under a particular Facility may be continued as such (i) when any Event of Default has occurred and is continuing and the Administrative Agent has or the Majority Facility Lenders in respect of such Facility have determined in its or their sole discretion not to permit such continuations or (ii) if an Event of Default specified in Section 8.01(f) with respect to any Loan Party is in existence, and provided, further, that if the Company shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to Base Rate Loans on the last day of such then expiring Interest Period. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.

Continuation Options. (a) The Borrower may elect from time to time to convert Eurocurrency Rate Term Benchmark Loans denominated in Dollars to Base Rate ABR Loans by giving the Administrative Agent at least two Business Days’ prior irrevocable notice of such election no later than 11:00 A.M.election, New York City time, provided that any such conversion of Term Benchmark Loans may only be made on the Business Day preceding the proposed conversion datelast day of an Interest Period with respect thereto. The Borrower may elect from time to time to convert Base Rate ABR Loans to Eurocurrency Rate Term Benchmark Loans denominated in Dollars by giving the Administrative Agent at least three Business Days’ prior irrevocable notice of such election no later than 11:00 A.M., New York City time, on (which notice shall specify the third Business Day preceding length of the proposed conversion date, initial Interest Period therefor); provided that no Base Rate ABR Loan under a particular Facility may be converted into a Eurocurrency Rate Term Benchmark Loan denominated in Dollars when any Event of Default has occurred and is continuing and the Administrative Agent or the Majority Facility Lenders in respect of such Facility have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice notice, the Administrative Agent shall promptly notify each relevant Lender thereof. If any interest election requests a Term Benchmark Loan but does not specify an Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. (b) Any Eurocurrency Rate Loan, CDOR Rate Loan, HIBOR Rate Term Benchmark Loan or Mexican Peso Rate Loan may shall be continued as such upon the expiration of the then current Interest Period with respect thereto by unless the Borrower giving irrevocable gives notice to the Administrative Agent, in accordance with the applicable provisions of the term “Interest Period” set forth in Section 1.011.1, of the a different length of the next Interest Period to be applicable to such Loans, provided that no Eurocurrency Rate Loan, CDOR Rate Loan, HIBOR Rate Loan or Mexican Peso Rate Loan under a particular Facility may be continued as such (i) when any Event of Default has occurred and is continuing and the Administrative Agent has or the Majority Facility Lenders in respect of such Facility have determined in its or their sole discretion not to permit such continuations or (ii) if an Event of Default specified in Section 8.01(f) with respect to any Loan Party is in existence, and provided, further, that if the Company shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to Base Rate Loans on the last day of such then expiring Interest Period. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.

Continuation Options. (a) The applicable Borrower may elect from time to time to convert Eurocurrency Rate Term Benchmark Loans denominated in Dollars to Base Rate ABR Loans by giving the Administrative Agent at least two Business Days’ prior irrevocable notice of such election no later than 11:00 A.M.election, New York City time, provided that any such conversion of Term Benchmark Loans may only be made on the Business Day preceding the proposed conversion datelast day of an Interest Period with respect thereto. The applicable Borrower may elect from time to time to convert Base Rate ABR Loans to Eurocurrency Rate Term Benchmark Loans denominated in Dollars by giving the Administrative Agent at least three Business Days’ prior irrevocable notice of such election no later than 11:00 A.M., New York City time, on (which notice shall specify the third Business Day preceding length of the proposed conversion date, initial Interest Period therefor); provided that no Base Rate ABR Loan under a particular Facility may be converted into a Eurocurrency Rate Term Benchmark Loan denominated in Dollars when any Event of Default has occurred and is continuing and the Administrative Agent or the Majority Facility Lenders in respect of such Facility have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice notice, the Administrative Agent shall promptly notify each relevant Lender thereof. If any interest election requests a Term Benchmark Loan but does not specify an Interest Period, then the applicable Borrower shall be deemed to have selected an Interest Period of one month’s duration. (b) Any Eurocurrency Rate Loan, CDOR Rate Loan, HIBOR Rate Term Benchmark Loan or Mexican Peso Rate Loan may shall be continued as such upon the expiration of the then current Interest Period with respect thereto by unless the applicable Borrower giving irrevocable give notice to the Administrative Agent, in accordance with the applicable provisions of the term “Interest Period” set forth in Section 1.011.1, of the a different length of the next Interest Period to be applicable to such Loans, provided that no Eurocurrency Rate Loan, CDOR Rate Loan, HIBOR Rate Loan or Mexican Peso Rate Loan under a particular Facility may be continued as such (i) when any Event of Default has occurred and is continuing and the Administrative Agent has or the Majority Facility Lenders in respect of such Facility have determined in its or their sole discretion not to permit such continuations or (ii) if an Event of Default specified in Section 8.01(f) with respect to any Loan Party is in existence, and provided, further, that if the Company shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to Base Rate Loans on the last day of such then expiring Interest Period. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.

Continuation Options. (a) The Borrower may elect from time to time to convert Eurocurrency LIBO Rate Loans denominated in Dollars to Base Rate ABR Loans by giving the Administrative Agent at least two Business Days’ prior irrevocable notice of such election no later than 11:00 A.M.election, New York City time, provided that any such conversion of LIBO Rate Loans may only be made on the Business Day preceding the proposed conversion datelast day of an Interest Period with respect thereto. The Borrower may elect from time to time to convert Base ABR Loans to LIBO Rate Loans to Eurocurrency Rate Loans denominated in Dollars by giving the Administrative Agent at least three Business Days’ prior irrevocable notice of such election no later than 11:00 A.M., New York City time, on (which notice shall specify the third Business Day preceding length of the proposed conversion date, initial Interest Period therefor); provided that no Base Rate ABR Loan under a particular Facility may be converted into a Eurocurrency LIBO Rate Loan denominated in Dollars when any Event of Default has occurred and is continuing and the Administrative Agent or the Majority Facility Lenders in respect of such Facility have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice notice, the Administrative Agent shall promptly notify each relevant Lender thereof. (b) Any Eurocurrency Rate Loan, CDOR Rate Loan, HIBOR LIBO Rate Loan or Mexican Peso Rate Loan may shall be continued as such upon the expiration of the then current Interest Period with respect thereto by unless the Borrower giving irrevocable gives notice to the Administrative Agent, in accordance with the applicable provisions of the term “Interest Period” set forth in Section 1.011.1, of the a different length of the next Interest Period to be applicable to such Loans, provided that no Eurocurrency Rate Loan, CDOR Rate Loan, HIBOR Rate Loan or Mexican Peso Rate Loan under a particular Facility may be continued as such (i) when any Event of Default has occurred and is continuing and the Administrative Agent has or the Majority Facility Lenders in respect of such Facility have determined in its or their sole discretion not to permit such continuations or (ii) if an Event of Default specified in Section 8.01(f) with respect to any Loan Party is in existence, and provided, further, that if the Company shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to Base Rate Loans on the last day of such then expiring Interest Period. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.