Common use of Continuations and Conversions of Existing Loans Clause in Contracts

Continuations and Conversions of Existing Loans. US Borrower may make the following elections with respect to US Loans already outstanding: (i) to Convert, in whole or in part, Base Rate Loans to Eurodollar Loans, (ii) to Convert, in whole or in part, Eurodollar Loans to Base Rate Loans on the last day of the Interest Period applicable thereto, and (iii) to Continue, in whole or in part, Eurodollar Loans beyond the expiration of such Interest Period by designating a new Interest Period to take effect at the time of such expiration. Subject to the terms of Section 2.13 with respect to Bankers’ Acceptances, each Canadian Borrower may make the following elections with respect to Canadian Advances already outstanding: (i) to Convert any Type of Canadian Advance to any other Type of Canadian Advance, provided that any such Conversion of a Bankers’ Acceptance must be made on the date of maturity thereof; and (ii) to rollover any existing Bankers’ Acceptance by designating the new maturity date applicable thereto. In making such elections, such Borrower may combine existing US Loans to US Borrower or Canadian Advances to such Canadian Borrower made pursuant to separate Borrowings into one new Borrowing or divide existing US Loans to US Borrower or Canadian Advances to such Canadian Borrower made pursuant to one Borrowing into separate new Borrowings, provided that US Borrower may have no more than seven Borrowings of Eurodollar Loans outstanding at any time and neither Canadian Borrower may have more than seven BA’s and Eurodollar Loans in the aggregate outstanding at any time. To make any such election, such Borrower must give to the appropriate Agent written notice (or telephonic notice promptly confirmed in writing) of any such Conversion or Continuation of existing Loans or Canadian Advances, with a separate notice given for each new Borrowing. Each such notice constitutes a “Continuation/Conversion Notice” hereunder and must:

Continuations and Conversions of Existing Loans. US Borrower or Canadian Borrower may make the following elections with respect to US Loans already outstanding: (i) to Convert, in whole or in part, Base Rate Loans to Eurodollar LIBOR Loans, (ii) to Convert, in whole or in part, Eurodollar LIBOR Loans to Base Rate Loans on the last day of the Interest Period applicable thereto, and (iii) to Continue, in whole or in part, Eurodollar LIBOR Loans beyond the expiration of such Interest Period by designating a new Interest Period to take effect at the time of such expiration. Subject to the terms of Section 2.13 2.17 with respect to Bankers’ Acceptances, each Canadian Working Capital Borrower may make the following elections with respect to Canadian Advances already outstanding: (i) to Convert any Type of Canadian Advance to any other Type of Canadian Advance, provided that any such Conversion of a Bankers’ Acceptance must be made on the date of maturity thereof; and (ii) to rollover any existing Bankers’ Acceptance by designating the new maturity date applicable thereto. In making such elections, such Borrower may combine existing US Loans to US such Borrower or Canadian Advances to such Canadian Borrower made pursuant to separate Borrowings into one new Borrowing or divide existing US Loans to US such Borrower or Canadian Advances to such Canadian Borrower made pursuant to one Borrowing into separate new Borrowings, provided that US such Borrower may have no more than seven Borrowings of Eurodollar LIBOR Loans outstanding at any time and neither Canadian Borrower may have more than or seven BA’s and Eurodollar Loans in the aggregate outstanding at any time. To make any such election, such Borrower must give to the appropriate Agent written notice (or telephonic notice promptly confirmed in writing) of any such Conversion or Continuation of existing Loans or Canadian Advances, with a separate notice given for each new Borrowing. Each such notice constitutes a “Continuation/Conversion Notice” hereunder and must:

Continuations and Conversions of Existing Loans. US Borrower may make the following elections with respect to US Loans already outstanding: (i) to Convert, in whole or in part, Base Rate Loans to Eurodollar Loans, (ii) to Convert, in whole or in part, Eurodollar Loans to Base Rate Loans on the last day of the Interest Period applicable thereto, and (iii) to Continue, in whole or in part, Eurodollar Loans beyond the expiration of such Interest Period by designating a new Interest Period to take effect at the time of such expiration. Subject to the terms of Section 2.13 with respect to Bankers’ ' Acceptances, each Canadian Borrower may make the following elections with respect to Canadian Advances already outstanding: (i) to Convert any Type of Canadian Advance to any other Type of Canadian Advance, provided that any such Conversion of a Bankers’ ' Acceptance must be made on the date of maturity thereof; and (ii) to rollover any existing Bankers’ ' Acceptance by designating the new maturity date applicable thereto. In making such elections, such Borrower may combine existing US Loans to US Borrower or Canadian Advances to such Canadian Borrower made pursuant to separate Borrowings into one new Borrowing or divide existing US Loans to US Borrower or Canadian Advances to such Canadian Borrower made pursuant to one Borrowing into separate new Borrowings, provided that US Borrower may have no more than seven Borrowings of Eurodollar Loans outstanding at any time and neither Canadian Borrower may have more than seven BA’s 's and Eurodollar Loans in the aggregate outstanding at any time. To make any such election, such Borrower must give to the appropriate Agent written notice (or telephonic notice promptly confirmed in writing) of any such Conversion or Continuation of existing Loans or Canadian Advances, with a separate notice given for each new Borrowing. Each such notice constitutes a “"Continuation/Conversion Notice” " hereunder and must: