Common use of Continuations and Conversions Clause in Contracts

Continuations and Conversions. The Borrowers will have the option, on any Banking Day, to continue existing LIBOR Loans for a subsequent Interest Period, to convert Base Rate Loans into LIBOR Loans or to convert LIBOR Loans into Base Rate Loans; provided, however, that (i) LIBOR Loans may only be continued or converted into Base Rate Loans on the last day of the applicable Interest Period, (ii) LIBOR Loans may not be continued nor may Base Rate Loans be converted into LIBOR Loans during the existence of a Default, and (iii) any request to continue a LIBOR Loan that fails to comply with the terms of this Agreement including the time periods in 2.1.3 or any failure to request a continuation of a LIBOR Loan at the end of an Interest Period shall constitute a conversion to a Base Rate Loan on the last day of the Interest Period. All continuations and conversions must be made uniformly and ratably among the Lenders.

Continuations and Conversions. The Borrowers will have the option, on any Banking Day, to continue existing LIBOR Loans for a subsequent Interest Period, to convert Base Rate Loans into LIBOR Loans or to convert LIBOR Loans into Base Rate Loans; provided, however, that (i) LIBOR Loans may only be continued or converted into Base Rate Loans on the last day of the applicable Interest Period, (ii) LIBOR Loans may not be continued nor may Base Rate Loans be converted into LIBOR Loans during the existence of a an Event of Default, and (iii) any request to continue or convert a LIBOR Loan that fails to comply with the terms of this Agreement (including the minimum amounts and the time periods in Section 2.1.3 and 3.2.1) as if such LIBOR Loan is a new LIBOR Loan or any failure to request a continuation of a LIBOR Loan at the end of an Interest Period shall constitute a conversion to a Base Rate Loan on the last day of the Interest Period. All continuations and conversions must be made uniformly and ratably among the Lenders.

Continuations and Conversions. The Borrowers will have ----------------------------- the option, on any Banking Day, to continue existing LIBOR Loans for a subsequent Interest Period, to convert Base Rate Loans into LIBOR Loans or to convert LIBOR Loans into Base Rate Loans; provided, however, that (i) LIBOR Loans may only be continued or converted into Base Rate Loans on the last day of the applicable Interest Period, (ii) LIBOR Loans may not be continued nor may Base Rate Loans be converted into LIBOR Loans during the existence of a Default, and (iii) any request to continue a LIBOR Loan that fails to comply with the terms of this Agreement hereof including the time periods in 2.1.3 or any failure to request a continuation of a LIBOR Loan at the end of an Interest Period shall constitute a conversion to a Base Rate Loan on the last day of the Interest Period. All continuations and conversions must be made uniformly and ratably among the Lenders.

Continuations and Conversions. The Borrowers will have the option, on any Banking Day, to continue existing LIBOR Loans for a subsequent Interest Period, to convert Base Rate Loans into LIBOR Loans or to convert LIBOR Loans into Base Rate Loans; provided, however, that (i) LIBOR Loans may only be continued or converted into Base Rate Loans on the last day of the applicable Interest Period, (ii) LIBOR Loans may not be continued nor may Base Rate Loans be converted into LIBOR Loans during the existence of a Default, and (iii) any request to continue or convert a LIBOR Loan that fails to comply with the terms of this Agreement (including the minimum amounts and the time periods in Section 2.1.3 and 3.2.1) as if such LIBOR Loan is a new LIBOR Loan or any failure to request a continuation of a LIBOR Loan at the end of an Interest Period shall constitute a conversion to a Base Rate Loan on the last day of the Interest Period. All continuations and conversions must be made uniformly and ratably among the Lenders.