Common use of Conversion and Continuation of Outstanding Advances Clause in Contracts

Conversion and Continuation of Outstanding Advances. Each Alternate Base Rate Advance shall continue as an Alternate Base Rate Advance unless and until such Alternate Base Rate Advance is converted into a Term SOFR Advance pursuant to this Section 2.9 or is repaid in accordance with Section 2.7. Each XXXXX Advance shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR Advance until the end of the then applicable Interest Period therefor, at which time such Term SOFR Advance shall be automatically converted into an Alternate Base Rate Advance, unless (a) such Term SOFR Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Term SOFR Advance continue as a Term SOFR Advance for the same or another Interest Period. Each Eurocurrency Advance shall continue as a Eurocurrency Advance until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Advance shall be exchanged for an Equivalent amount of Dollars and converted into an Alternate Base Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another Interest Period. Subject to the terms of Section 2.6, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Advance into a Term SOFR Advance. Subject to the payment of any funding indemnification amounts required by Section 3.4, the applicable Borrower may elect from time to time to convert all or any part of a Term SOFR Advance into an Alternate Base Rate Advance. The applicable Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each (x) conversion of an Alternate Base Rate Advance into a Term SOFR Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency Advance not later than 11:00 a.m. (New York time) at least three (3) RFR Business Days (or in the case of a Eurocurrency Advance, at least three (3) Business Days) prior to the date of the requested conversion or continuation and (y) conversion of a Term SOFR Advance into an Alternate Base Rate Advance, not later than 12:00 p.m. (New York time) on the date of the requested conversion, in each case specifying:

Appears in 4 contracts

Samples: Credit Agreement (Aon PLC), Credit Agreement (Aon PLC), Credit Agreement (Aon PLC)

AutoNDA by SimpleDocs

Conversion and Continuation of Outstanding Advances. Floating Rate Advances shall continue as Floating Rate Advances unless and until such Floating Rate Advances are converted into LIBOR Rate Advances. Each Alternate Base LIBOR Rate Advance shall continue as an Alternate Base a LIBOR Rate Advance unless and until such Alternate Base Rate Advance is converted into a Term SOFR Advance pursuant to this Section 2.9 or is repaid in accordance with Section 2.7. Each XXXXX Advance shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR Advance until the end of the then applicable Interest Period therefor, at which time such Term SOFR LIBOR Rate Advance shall be automatically converted into an Alternate Base as a LIBOR Rate Advance, but with an Interest Period of one month unless (a) such Term SOFR Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent an irrevocable notice (a Conversion/Continuation Notice (as defined belowNotice”) requesting that, at the end of such Interest Period, such Term SOFR LIBOR Rate Advance either continue as a Term SOFR LIBOR Rate Advance for the same or another Interest PeriodPeriod or be converted to an Advance of another Type. Each Eurocurrency Advance shall continue as a Eurocurrency Advance until Notwithstanding the end provision for automatic conversion in the foregoing sentence, if the effective date of any such automatic conversion is less than one month prior to the then applicable Interest Period thereforthen-current Facility Termination Date, at which time such Eurocurrency LIBOR Rate Advance shall be exchanged for an Equivalent amount of Dollars and automatically converted into an Alternate Base a Floating Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another Interest Period. Subject to the terms of Section 2.62.7, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Advance of any Type into any other Type or Types of Advances; provided that, if any conversion of any LIBOR Rate Advance into a Term SOFR Advance. Subject shall be made on any day other than the last day of the Interest Period applicable thereto, the Borrower shall be obligated to pay the payment of any funding indemnification amounts required by amounts, if any, payable pursuant to Section 3.4, the applicable Borrower may elect from time to time to convert all or any part of a Term SOFR Advance into an Alternate Base Rate Advance. The applicable Borrower shall give the Administrative Agent irrevocable notice (a Conversion/Continuation Notice”) of Notice regarding each (x) conversion of an Alternate Base Advance to a LIBOR Rate Advance into a Term SOFR Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency LIBOR Rate Advance not later than 11:00 a.m. (New York Cleveland time) at least three (3) RFR Business Days (or in the case of a Eurocurrency Advance), at least three (3) Business Days) , in the case of a conversion into or continuation of a LIBOR Rate Advance, prior to the date of the requested conversion or continuation and (y) conversion of a Term SOFR Advance into an Alternate Base Rate Advancecontinuation, not later than 12:00 p.m. (New York time) on the date of the requested conversion, in each case specifying:

Appears in 4 contracts

Samples: Credit Agreement (InvenTrust Properties Corp.), Credit Agreement (Inland Real Estate Income Trust, Inc.), Credit Agreement (Inland American Real Estate Trust, Inc.)

Conversion and Continuation of Outstanding Advances. Floating Rate Advances shall continue as Floating Rate Advances unless and until such Floating Rate Advances are converted into LIBOR Rate Advances. Each Alternate Base LIBOR Rate Advance shall continue as an Alternate Base a LIBOR Rate Advance unless and until such Alternate Base Rate Advance is converted into a Term SOFR Advance pursuant to this Section 2.9 or is repaid in accordance with Section 2.7. Each XXXXX Advance shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such Term SOFR LIBOR Rate Advance shall be automatically converted into an Alternate Base a Floating Rate Advance, Advance unless (a) such Term SOFR Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) Notice” requesting that, at the end of such LIBOR Interest Period, such Term SOFR LIBOR Rate Advance either continue as a Term SOFR LIBOR Rate Advance for the same or another Interest Period. Each Eurocurrency Advance shall continue as a Eurocurrency Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such Eurocurrency or be converted to an Advance shall be exchanged for an Equivalent amount of Dollars and converted into an Alternate Base Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another Interest PeriodType. Subject to the terms of Section 2.62.7, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Advance of any Type into any other Type or Types of Advances; provided that any conversion of any LIBOR Rate Advance into a Term SOFR Advance. Subject to the payment of any funding indemnification amounts required by Section 3.4shall be made on, and only on, the last day of the Interest Period applicable Borrower may elect from time to time to convert all or any part of a Term SOFR Advance into an Alternate Base Rate Advancethereto. The applicable Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each (x) conversion of an Alternate Base Advance to a LIBOR Rate Advance into a Term SOFR Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency LIBOR Rate Advance not later than 11:00 a.m. (New York Cleveland time) ), at least three (3) RFR Business Days (or Days, in the case of a Eurocurrency conversion into or continuation of a LIBOR Rate Advance, at least three (3) Business Days) prior to the date of the requested conversion or continuation and (y) conversion of a Term SOFR Advance into an Alternate Base Rate Advancecontinuation, not later than 12:00 p.m. (New York time) on the date of the requested conversion, in each case specifying:

Appears in 3 contracts

Samples: Credit Agreement (Glimcher Realty Trust), Credit Agreement (Glimcher Realty Trust), Credit Agreement (Glimcher Realty Trust)

Conversion and Continuation of Outstanding Advances. Each Alternate Base Floating Rate Advance Advances shall continue as an Alternate Base Floating Rate Advance Advances unless and until such Alternate Base Floating Rate Advance is Advances are converted into a Term SOFR Advance Eurocurrency Advances pursuant to this Section 2.9 2.10 or is are repaid in accordance with Section 2.72.8. Each XXXXX Eurocurrency Advance shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR Eurocurrency Advance until the end of the then applicable Interest Period therefor, at which time (i) each such Term SOFR Eurocurrency Advance shall be automatically converted into an Alternate Base a Floating Rate Advance, Advance unless (ax) such Term SOFR Eurocurrency Advance is or was repaid in accordance with Section 2.7 2.8 or (by) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Term SOFR Eurocurrency Advance continue as a Term SOFR Eurocurrency Advance for the same or another Interest Period. Each Period or be converted into a Floating Rate Advance; and (ii) each such Eurocurrency Advance denominated in a Foreign Currency shall automatically continue as a Eurocurrency Advance until in the end of the then applicable same Agreed Currency with an Interest Period therefor, at which time such Eurocurrency Advance shall be exchanged for an Equivalent amount of Dollars and converted into an Alternate Base Rate Advance, one month unless (ax) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 2.8, or (by) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another Interest Period. Subject to the terms of Section 2.62.7, the applicable Borrower Borrowers may elect from time to time to convert all or any part of an Alternate Base Rate Advance of any Type into a Term SOFR Advanceany other Type or Types of Advances denominated in the same or any other Agreed Currency; provided that any conversion of any Eurocurrency Advance shall be made on, and only on, the last day of the Interest Period applicable thereto. Subject Notwithstanding anything to the payment contrary contained in this Section 2.10, no Advance may be converted or continued as a Eurocurrency Advance (except with the consent of the Required Lenders) when any funding indemnification amounts required by Section 3.4, the applicable Borrower may elect from time to time to convert all Default or any part of a Term SOFR Advance into an Alternate Base Rate AdvanceUnmatured Default is continuing. The applicable Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each (x) conversion of an Alternate Base Rate Advance into a Term SOFR Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency Advance not later than 11:00 10:00 a.m. (New York Chicago time) at least three one (31) RFR Business Days (or Day, in the case of a Eurocurrency conversion into a Floating Rate Advance, at least three (3) Business Days, in the case of a conversion into or continuation of a Eurocurrency Advance denominated in Dollars, or four (4) Business Days, in the case of a conversion into or continuation of a Eurocurrency Advance denominated in a Foreign Currency, prior to the date of the requested conversion or continuation and (y) conversion of a Term SOFR Advance into an Alternate Base Rate Advancecontinuation, not later than 12:00 p.m. (New York time) on the date of the requested conversion, in each case specifying:

Appears in 2 contracts

Samples: Revolving Credit Agreement (Zep Inc.), Revolving Credit Agreement (Acuity Brands Inc)

Conversion and Continuation of Outstanding Advances. Floating Rate Advances shall continue as Floating Rate Advances unless and until such Floating Rate Advances are converted into Fixed Rate Advances. Each Alternate Base Fixed Rate Advance shall continue as an Alternate Base a Fixed Rate Advance unless and until such Alternate Base Rate Advance is converted into a Term SOFR Advance pursuant to this Section 2.9 or is repaid in accordance with Section 2.7. Each XXXXX Advance shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR Advance until the end of the then applicable Interest Period therefor, at which time such Term SOFR Fixed Rate Advance shall be automatically converted into an Alternate Base a Floating Rate Advance, Advance unless (a) such Term SOFR Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Term SOFR Fixed Rate Advance either continue as a Term SOFR Fixed Rate Advance for the same or another Interest Period. Each Eurocurrency Period or be converted to an Advance shall continue as a Eurocurrency Advance until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Advance shall be exchanged for an Equivalent amount of Dollars and converted into an Alternate Base Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another Interest PeriodType. Subject to the terms of Section 2.62.7, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Advance of any Type into any other Type or Types of Advances; provided that any conversion of any Fixed Rate Advance into a Term SOFR Advance. Subject to the payment of any funding indemnification amounts required by Section 3.4shall be made on, and only on, the last day of the Interest Period applicable Borrower may elect from time to time to convert all or any part of a Term SOFR Advance into an Alternate Base Rate Advancethereto. The applicable Borrower shall give the Administrative Agent irrevocable notice (a "Conversion/Continuation Notice") of each (x) conversion of an Alternate Base Advance to a Fixed Rate Advance into a Term SOFR Advance or the Advanceor continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency Fixed Rate Advance not later than 11:00 10:00 a.m. (New York Cleveland time) ), at least three (3) RFR Business Days (or Days, in the case of a Eurocurrency conversion into or continuation of a LIBOR Advance, at least three (3) Business Days) prior to the date of the requested conversion or continuation continuation, specifying: the requested date which shall be a Business Day, of such conversion or continuation; the aggregate amount and (yType of the Advance which is to be converted or continued; and the amount and Type(s) conversion of Advance(s) into which such Advance is to be converted or continued and, in the case of a Term SOFR Advance conversion into an Alternate Base or continuation of a Fixed Rate Advance, not later than 12:00 p.m. (New York time) on the date duration of the requested conversion, in each case specifying:Interest Period applicable thereto.

Appears in 2 contracts

Samples: Credit Agreement (Inland Real Estate Corp), Credit Agreement (Inland Real Estate Corp)

Conversion and Continuation of Outstanding Advances. Each Alternate Base Rate Advance Advances shall continue as an Alternate Base Rate Advance Advances unless and until such Alternate Base Rate Advance is Advances are converted into a Term SOFR Advance Advances pursuant to this Section 2.9 ‎Section 2.09 or is are repaid in accordance with Section 2.7‎Section 2.07. Each XXXXX Advance shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR Advance until the end of the then applicable Interest Period therefor, at which time such Term SOFR Advance shall be automatically converted into continued as a SOFR Advance with an Alternate Base Rate AdvanceInterest Period of one month, unless (ax) such Term SOFR Advance is or was repaid in accordance with Section 2.7 ‎Section 2.07 or (by) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Term SOFR Advance convert to a Base Rate Advance or continue as a Term SOFR Advance for the same or another Interest Period. Each Eurocurrency Advance shall continue as a Eurocurrency Advance until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Advance shall be exchanged for an Equivalent amount of Dollars and converted into an Alternate Base Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another Interest Period. Subject to the terms of Section 2.6‎Section 2.06, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Advance into a Term SOFR Advance. Subject For the avoidance of doubt, no Advance may be converted into or continued as an Advance denominated in a different currency. Notwithstanding anything to the payment of contrary contained in this ‎Section 2.09, when any funding indemnification amounts required by Section 3.4, the applicable Borrower Default has occurred and is continuing (I) no Base Rate Advance may elect from time to time to convert all or any part of be converted into a Term SOFR Advance into (except with the consent of the Required Lenders) and (II) no SOFR Advance shall be continued other than as a SOFR Loan with an Alternate Base Rate AdvanceInterest Period of one month. The applicable Borrower shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit F (a “Conversion/Continuation Notice”) or such other form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), in each case appropriately completed and signed by an Authorized Officer of the Borrower, of each (x) conversion of an Alternate a Base Rate Advance into a Term SOFR Advance, conversion of a SOFR Advance into a Base Rate Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency Advance not later than 11:00 a.m. (New York time) at least three (3) RFR Business Days (or in the case of a Eurocurrency Advance, at least three (3) Business Days) prior to the date of the requested conversion or continuation and (y) conversion of a Term SOFR Advance into an Alternate Base Rate Advancecontinuation, not later than 12:00 p.m. (New York time) on the date of the requested conversion, in each case specifying:

Appears in 2 contracts

Samples: Credit Agreement (GXO Logistics, Inc.), Term Loan Credit Agreement (GXO Logistics, Inc.)

Conversion and Continuation of Outstanding Advances. Floating Rate Advances shall continue as Floating Rate Advances unless and until such Floating Rate Advances are converted into LIBOR Rate Advances. Each Alternate Base LIBOR Rate Advance shall continue as an Alternate Base a LIBOR Rate Advance unless and until such Alternate Base Rate Advance is converted into a Term SOFR Advance pursuant to this Section 2.9 or is repaid in accordance with Section 2.7. Each XXXXX Advance shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR Advance until the end of the then applicable Interest Period therefor, at which time such Term SOFR LIBOR Rate Advance shall be automatically converted into an Alternate Base as a LIBOR Rate Advance, but with an Interest Period of one month unless (a) such Term SOFR Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent an irrevocable notice (a Conversion/Continuation Notice (as defined belowNotice”) requesting that, at the end of such Interest Period, such Term SOFR LIBOR Rate Advance either continue as a Term SOFR LIBOR Rate Advance for the same or another Interest PeriodPeriod or be converted to an Advance of another Type. Each Eurocurrency Advance shall continue as a Eurocurrency Advance until Notwithstanding the end provision for automatic conversion in the foregoing sentence, if the effective date of any such automatic conversion is less than one month prior to the then applicable Interest Period thereforthen-current Facility Termination Date, at which time such Eurocurrency LIBOR Rate Advance shall be exchanged for an Equivalent amount of Dollars and automatically converted into an Alternate Base a Floating Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another Interest Period. Subject to the terms of Section 2.62.7, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Advance of any Type into any other Type or Types of Advances; provided that, if any conversion of any LIBOR Rate Advance into a Term SOFR Advance. Subject shall be made on any day other than the last day of the Interest Period applicable thereto, the Borrower shall be obligated to pay the payment of any funding indemnification amounts required by amounts, if any, payable pursuant to Section 3.4, the applicable Borrower may elect from time to time to convert all or any part of a Term SOFR Advance into an Alternate Base Rate Advance. The applicable Borrower shall give the Administrative Agent irrevocable notice (a Conversion/Continuation Notice”) of Notice regarding each (x) conversion of an Alternate Base Advance to a LIBOR Rate Advance into a Term SOFR Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency LIBOR Rate Advance not later than 11:00 a.m. (New York time) at least three (3) RFR Business Days (or in the case of a Eurocurrency Advance), at least three (3) Business Days) , in the case of a conversion into or continuation of a LIBOR Rate Advance, prior to the date of the requested conversion or continuation and (y) conversion of a Term SOFR Advance into an Alternate Base Rate Advancecontinuation, not later than 12:00 p.m. (New York time) on the date of the requested conversion, in each case specifying:

Appears in 2 contracts

Samples: Assignment Agreement (InvenTrust Properties Corp.), Assignment Agreement (InvenTrust Properties Corp.)

Conversion and Continuation of Outstanding Advances. Each Alternate Base Floating Rate Advance Advances of a Class shall continue as an Alternate Base Floating Rate Advance Advances of such Class unless and until such Alternate Base Floating Rate Advances are converted into LIBOR Rate Advances of the same Class. Each LIBOR Rate Advance is converted into of a Term SOFR Advance pursuant to this Section 2.9 or is repaid in accordance with Section 2.7. Each XXXXX Advance Class shall continue as a XXXXX LIBOR Rate Advance unless and until of such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR Advance Class until the end of the then applicable Interest Period therefor, at which time such Term SOFR LIBOR Rate Advance shall be automatically converted into an Alternate Base a Floating Rate Advance, Advance of the same Class unless (a) such Term SOFR Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) Notice” requesting that, at the end of such Interest Period, such Term SOFR LIBOR Rate Advance either continue as a Term SOFR LIBOR Rate Advance of the same Class for the same or another Interest Period. Each Eurocurrency Period or be converted to an Advance shall continue as a Eurocurrency Advance until the end of another Type but of the then applicable Interest Period therefor, at which time such Eurocurrency Advance shall be exchanged for an Equivalent amount of Dollars and converted into an Alternate Base Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another Interest PeriodClass. Subject to the terms of Section 2.6, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Advance into a Term SOFR Advance. Subject to the payment of any funding indemnification amounts required by Section 3.4, the applicable The Borrower may elect from time to time to convert all or any part of a Term SOFR Floating Rate Advance of a Class into an Alternate Base a LIBOR Rate AdvanceAdvance of the same Class and vice versa; provided that any conversion of any LIBOR Rate Advance shall be made on, and only on, the last day of the Interest Period applicable thereto. The applicable Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each (x) conversion of an Alternate Base Advance to a LIBOR Rate Advance into a Term SOFR Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency LIBOR Rate Advance not later than 11:00 10:00 a.m. (New York Cleveland, Ohio time) ), at least three (3) RFR Business Days (or Days, in the case of a Eurocurrency conversion into or continuation of a LIBOR Rate Advance, at least three (3) Business Days) prior to the date of the requested conversion or continuation and (y) conversion of a Term SOFR Advance into an Alternate Base Rate Advancecontinuation, not later than 12:00 p.m. (New York time) on the date of the requested conversion, in each case specifying:

Appears in 2 contracts

Samples: Term Loan Agreement (Retail Properties of America, Inc.), Term Loan Agreement (Kite Realty Group, L.P.)

Conversion and Continuation of Outstanding Advances. (a) Floating Rate Advances shall continue as Floating Rate Advances unless and until such Floating Rate Advances are converted into Fixed Rate Advances pursuant to this Section 2.7 or are repaid in accordance with this Agreement. Each Alternate Base Fixed Rate Advance shall continue as an Alternate Base a Fixed Rate Advance unless and until such Alternate Base Rate Advance is converted into a Term SOFR Advance pursuant to this Section 2.9 or is repaid in accordance with Section 2.7. Each XXXXX Advance shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR Advance until the end of the then applicable Interest Period therefor, at which time such Term SOFR Fixed Rate Advance shall be automatically converted into an Alternate Base a Floating Rate Advance, other than any UK Fixed Rate Advance, unless (a) such Term SOFR Fixed Rate Advance is or was repaid in accordance with Section 2.7 this Agreement or (b) the applicable Domestic Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Term SOFR Fixed Rate Advance continue continues as a Term SOFR Fixed Rate Advance for the same or another Interest Period. Each Eurocurrency UK Fixed Rate Advance shall continue as a Eurocurrency Advance until at the end of the then applicable Interest Period therefor, at which time such Eurocurrency Advance shall unless repaid, be exchanged for an Equivalent amount of Dollars and converted into an Alternate Base Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue continued as a Eurocurrency UK Fixed Rate Advance for with an Interest Period with the same or another Interest Periodleast number of days possible. Subject to the terms of Section 2.62.4, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Advance into a Term SOFR Advance. Subject to the payment of any funding indemnification amounts required by Section 3.4, the applicable Domestic Borrower may elect from time to time to convert all or any part of a Term SOFR Floating Rate Advance into an Alternate Base a Fixed Rate Advance. The applicable Domestic Borrower shall give the Administrative Agent irrevocable notice in the form of Exhibit B (a “Conversion/Continuation Notice”) of each (x) conversion of an Alternate Base a Floating Rate Advance into a Term SOFR Fixed Rate Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency Fixed Rate Advance not later than 11:00 10:00 a.m. (New York Chicago time) at least three (3) RFR Business Days (or in the case of a Eurocurrency Advance, at least three (3) Business Days) prior to the date of the requested conversion or continuation continuation, specifying (i) the requested date, which shall be a Business Day, of such conversion or continuation, (ii) the aggregate amount and Type of the Advance which is to be converted or continued, (iii) the amount of such Advance which is to be converted into or continued as a Fixed Rate Advance (provided that the amounts set forth in Section 2.4 shall be complied with), and (yiv) conversion of a Term SOFR Advance into an Alternate Base Rate Advance, not later than 12:00 p.m. (New York time) on the date duration of the requested conversionInterest Period applicable thereto. In each Conversion/Continuation Notice, in each case specifying:the Domestic Borrower shall designate whether any Advance is a Fixed Asset Advance.

Appears in 2 contracts

Samples: Credit Agreement (Park Ohio Holdings Corp), Credit Agreement (Park Ohio Industries Inc/Oh)

Conversion and Continuation of Outstanding Advances. Each Alternate Base Floating Rate Advance Advances of a Class shall continue as an Alternate Base Floating Rate Advance Advances of such Class unless and until such Alternate Base Floating Rate Advances are converted into LIBOR Rate Advances of the same Class. Each LIBOR Rate Advance is converted into of a Term SOFR Advance pursuant to this Section 2.9 or is repaid in accordance with Section 2.7. Each XXXXX Advance Class shall continue as a XXXXX LIBOR Rate Advance unless and until of such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR Advance Class until the end of the then applicable Interest Period therefor, at which time such Term SOFR LIBOR Rate Advance shall be automatically converted into an Alternate Base a Floating Rate Advance, Advance of the same Class unless (a) such Term SOFR Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) Notice” requesting that, at the end of such Interest Period, such Term SOFR LIBOR Rate Advance either continue as a Term SOFR LIBOR Rate Advance of the same Class for the same or another Interest Period. Each Eurocurrency Period or be converted to an Advance shall continue as a Eurocurrency Advance until the end of another Type but of the then applicable Interest Period therefor, at which time such Eurocurrency Advance shall be exchanged for an Equivalent amount of Dollars and converted into an Alternate Base Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another Interest PeriodClass. Subject to the terms of Section 2.62.7, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Advance into a Term SOFR Advance. Subject to the payment of any funding indemnification amounts required by Section 3.4, the applicable Borrower may elect from time to time to convert all or any part of a Term SOFR Floating Rate Advance of a Class into an Alternate Base a LIBOR Rate AdvanceAdvance of the same Class and vice versa; provided that any conversion of any LIBOR Rate Advance shall be made on, and only on, the last day of the Interest Period applicable thereto. The applicable Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each (x) conversion of an Alternate Base Advance to a LIBOR Rate Advance into a Term SOFR Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency LIBOR Rate Advance not later than 11:00 10:00 a.m. (New York Cleveland, Ohio time) ), at least three (3) RFR Business Days (or Days, in the case of a Eurocurrency conversion into or continuation of a LIBOR Rate Advance, at least three (3) Business Days) prior to the date of the requested conversion or continuation and (y) conversion of a Term SOFR Advance into an Alternate Base Rate Advancecontinuation, not later than 12:00 p.m. (New York time) on the date of the requested conversion, in each case specifying:

Appears in 2 contracts

Samples: Credit Agreement (RPT Realty), Assignment Agreement (Ramco Gershenson Properties Trust)

Conversion and Continuation of Outstanding Advances. Each Alternate Base Rate Advance All Term Loan Advances shall initially be CBR Advances. CBR Advances shall continue as an Alternate Base Rate Advance CBR Advances unless and until such Alternate Base Rate Advance is CBR Advances are converted into a Term SOFR Advance pursuant to this Section 2.9 or is repaid in accordance with Section 2.7LIBOR Advances. Each XXXXX LIBOR Advance shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR LIBOR Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such Term SOFR LIBOR Advance shall be automatically converted into an Alternate Base Rate Advance, a CBR Advance unless (a) such Term SOFR Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower Reimbursement Obligor shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such LIBOR Interest Period, such Term SOFR LIBOR Advance shall continue as a Term SOFR LIBOR Advance for the same or another Interest Period. Each Eurocurrency Advance shall continue as a Eurocurrency Advance until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Advance shall be exchanged for an Equivalent amount of Dollars and converted into an Alternate Base Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another LIBOR Interest Period. Subject to the terms of Section 2.6SECTION 2.7, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Advance into a Term SOFR Advance. Subject to the payment of any funding indemnification amounts required by Section 3.4, the applicable Borrower Reimbursement Obligor may elect from time to time to convert all or any part of a Term SOFR Loan Advance of any Type into an Alternate Base Rate any other Type of Advance; provided that any conversion of any LIBOR Advance shall be made on, and only on, the last day of the Interest Period applicable thereto unless Reimbursement Obligor pays the applicable Break-up Fee. The applicable Borrower Reimbursement Obligor shall give the Administrative Agent irrevocable notice (a “Conversion"CONVERSION/Continuation Notice”CONTINUATION NOTICE") of each (x) conversion of an Alternate Base Rate Advance into a Term SOFR Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency Loan Advance not later than 11:00 10:00 a.m. (New York Chicago time) at least three (3) RFR one Business Days (or Day, in the case of a Eurocurrency conversion into a CBR Advance, at least or three (3) Business Days) , in the case of a conversion into or continuation of a LIBOR Advance, prior to the date of the requested conversion or continuation and (y) conversion of a Term SOFR Advance into an Alternate Base Rate Advancecontinuation, not later than 12:00 p.m. (New York time) on the date of the requested conversion, in each case specifying:

Appears in 1 contract

Samples: Assignment Agreement (Centerpoint Properties Trust)

Conversion and Continuation of Outstanding Advances. Floating Rate Advances shall continue as Floating Rate Advances unless and until such Floating Rate Advances are converted into LIBORSOFR Rate Advances. Each Alternate Base LIBORSOFR Rate Advance shall continue as an Alternate Base a LIBORSOFR Rate Advance unless and until such Alternate Base Rate Advance is converted into a Term SOFR Advance pursuant to this Section 2.9 or is repaid in accordance with Section 2.7. Each XXXXX Advance shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR Advance until the end of the then applicable Interest Period therefor, at which time such Term SOFR LIBORSOFR Rate Advance shall be automatically converted into an Alternate Base as a LIBORSOFR Rate Advance, but with an Interest Period of one month unless (a) such Term SOFR Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent an irrevocable notice (a Conversion/Continuation Notice (as defined belowNotice”) requesting that, at the end of such Interest Period, such Term SOFR LIBORSOFR Rate Advance either continue as a Term SOFR LIBORSOFR Rate Advance for the same or another Interest PeriodPeriod or be converted to an Advance of another Type. Each Eurocurrency Advance shall continue as a Eurocurrency Advance until Notwithstanding the end provision for automatic conversion in the foregoing sentence, if the effective date of any such automatic conversion is less than one month prior to the then applicable Interest Period thereforthen-current Facility Termination Date, at which time such Eurocurrency LIBORSOFR Rate Advance shall be exchanged for an Equivalent amount of Dollars and automatically converted into an Alternate Base a Floating Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another Interest Period. Subject to the terms of Section 2.62.7, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Advance of any Type into any other Type or Types of Advances; provided that, if any conversion of any LIBORSOFR Rate Advance into a Term SOFR Advance. Subject shall be made on any day other than the last day of the Interest Period applicable thereto, the Borrower shall be obligated to pay the payment of any funding indemnification amounts required by amounts, if any, payable pursuant to Section 3.4, the applicable Borrower may elect from time to time to convert all or any part of a Term SOFR Advance into an Alternate Base Rate Advance. The applicable Borrower shall give the Administrative Agent irrevocable notice (a Conversion/Continuation Notice”) of Notice regarding each (x) conversion of an Alternate Base Advance to a LIBORSOFR Rate Advance into a Term SOFR Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency LIBORSOFR Rate Advance not later than 11:00 a.m. (New York Cleveland time) at least three (3) RFR Business Days (or in the case of a Eurocurrency Advance), at least three (3) Business Days) , in the case of a conversion into or continuation of a LIBORSOFR Rate Advance, prior to the date of the requested conversion or continuation continuation, specifying: (i) the requested date which shall be a Business Day, of such conversion or continuation; (ii) the aggregate amount and Type of the Advance which is to be converted or continued; and (yiii) conversion the amount and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a Term conversion into or continuation of a LIBORTerm SOFR Advance into an Alternate Base Rate Advance, not later than 12:00 p.m. (New York time) the duration of the Interest Period applicable thereto. 2.10. Changes in Interest Rate, Etc . - 45 - US_ACTIVEActive\121281000\V-110 Each Floating Rate Advance shall bear interest on the outstanding principal amount thereof, for each day from and including the date such Advance is made or is converted from a LIBORSOFR Rate Advance into a Floating Rate Advance pursuant to Section 2.9 to but excluding the date it becomes due or is converted into a LIBORSOFR Rate Advance pursuant to Section 2.9 hereof, at a rate per annum equal to the Floating Rate for such day. Changes in the rate of interest on that portion of any Advance maintained as a Floating Rate Advance will take effect simultaneously with each change in the Alternate Base Rate. Each LIBORSOFR Rate Advance shall bear interest from and including the first day of the requested conversion, in each case specifying:Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such LIBORSOFR Rate Advance. 2.11.

Appears in 1 contract

Samples: Credit Agreement (InvenTrust Properties Corp.)

Conversion and Continuation of Outstanding Advances. Floating Rate Advances shall continue as Floating Rate Advances unless and until such Floating Rate Advances are converted into LIBOR Rate Advances. Each Alternate Base LIBOR Rate Advance shall continue as an Alternate Base a LIBOR Rate Advance unless and until such Alternate Base Rate Advance is converted into a Term SOFR Advance pursuant to this Section 2.9 or is repaid in accordance with Section 2.7. Each XXXXX Advance shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR Advance until the end of the then applicable Interest Period therefor, at which time such Term SOFR LIBOR Rate Advance shall be automatically converted into an Alternate Base as a LIBOR Rate Advance, but with an Interest Period of one month unless (a) such Term SOFR Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent an irrevocable notice (a Conversion/Continuation Notice (as defined belowNotice”) requesting that, at the end of such Interest Period, such Term SOFR LIBOR Rate Advance either continue as a Term SOFR LIBOR Rate Advance for the same or another Interest PeriodPeriod or be converted to an Advance of another Type. Each Eurocurrency Advance shall continue as a Eurocurrency Advance until Notwithstanding the end provision for automatic conversion in the foregoing sentence, if the effective date of any such automatic conversion is less than one month prior to the then applicable Interest Period thereforthen-current Facility Termination Date for such Loan, at which time such Eurocurrency LIBOR Rate Advance shall be exchanged for an Equivalent amount of Dollars and automatically converted into an Alternate Base a Floating Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another Interest Period. Subject to the terms of Section 2.62.7, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Advance of any Type into any other Type or Types of Advances; provided that, if any conversion of any LIBOR Rate Advance into a Term SOFR Advance. Subject shall be made on any day other than the last day of the Interest Period applicable thereto, the Borrower shall be obligated to pay the payment of any funding indemnification amounts required by amounts, if any, payable pursuant to Section 3.4, the applicable Borrower may elect from time to time to convert all or any part of a Term SOFR Advance into an Alternate Base Rate Advance. The applicable Borrower shall give the Administrative Agent irrevocable notice (a Conversion/Continuation Notice”) of Notice regarding each (x) conversion of an Alternate Base Advance to a LIBOR Rate Advance into a Term SOFR Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency LIBOR Rate Advance not later than 11:00 a.m. (New York Cleveland time) at least three (3) RFR Business Days (or in the case of a Eurocurrency Advance), at least three (3) Business Days) , in the case of a conversion into or continuation of a LIBOR Rate Advance, prior to the date of the requested conversion or continuation and (y) conversion of a Term SOFR Advance into an Alternate Base Rate Advancecontinuation, not later than 12:00 p.m. (New York time) on the date of the requested conversion, in each case specifying:

Appears in 1 contract

Samples: Credit Agreement (Inland Real Estate Income Trust, Inc.)

Conversion and Continuation of Outstanding Advances. Each Alternate Base Rate Advance Borrowings shall continue as an Alternate Base Rate Advance Borrowings unless and until such Alternate Base Rate Advance is Borrowings are converted into a Term SOFR Advance LIBOR Loans pursuant to this Section 2.9 2.2 or is are repaid in accordance with Section 2.7this Article II. Each XXXXX Advance LIBOR Borrowing shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR Advance LIBOR Borrowing until the end of the then applicable Interest Period therefor, at which time such Term SOFR Advance LIBOR Borrowing shall be automatically converted into an Alternate a Base Rate Advance, Borrowing unless (ax) such Term SOFR Advance LIBOR Borrowing is or was repaid in accordance with Section 2.7 this Article II or (by) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Term SOFR Advance LIBOR Borrowing continue as a Term SOFR Advance LIBOR Borrowing for the same or another Interest Period. Each Eurocurrency Advance shall continue as a Eurocurrency Advance until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Advance shall be exchanged for an Equivalent amount of Dollars and converted into an Alternate Base Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another Interest Period. Subject to the terms of Section 2.6, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Advance into a Term SOFR Advance. Subject to the payment of any funding indemnification amounts required by Section 3.4, the applicable The Borrower may elect from time to time to convert all or any part of a Term SOFR Advance into an Alternate Base Rate AdvanceBorrowing into a LIBOR Borrowing, provided that the resulting Borrowings shall be in a minimum amount of $5,000,000. The applicable Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each (x) conversion of an Alternate a Base Rate Advance Borrowing into a Term SOFR Advance LIBOR Borrowing or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency Advance LIBOR Borrowing not later than 11:00 a.m. 1:00 P.M. (New York Chicago time) at least three (3) RFR Business Days (or in the case of a Eurocurrency Advance, at least three (3) Business Days) prior to the date of the requested conversion or continuation and (y) conversion of a Term SOFR Advance into an Alternate Base Rate Advancecontinuation, not later than 12:00 p.m. (New York time) on the date of the requested conversion, in each case specifying:

Appears in 1 contract

Samples: Credit Agreement (Sigma Aldrich Corp)

Conversion and Continuation of Outstanding Advances. Floating Rate Advances shall continue as Floating Rate Advances unless and until such Floating Rate Advances are converted into LIBOR Rate Advances. Each Alternate Base LIBOR Rate Advance shall continue as an Alternate Base a LIBOR Rate Advance unless and until such Alternate Base Rate Advance is converted into a Term SOFR Advance pursuant to this Section 2.9 or is repaid in accordance with Section 2.7. Each XXXXX Advance shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such Term SOFR LIBOR Rate Advance shall be automatically converted into an Alternate Base renew as a LIBOR Rate Advance, Advance with a one month LIBOR Interest Period unless (a) such Term SOFR Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such LIBOR Interest Period, such Term SOFR LIBOR Rate Advance continue as a Term SOFR LIBOR Rate Advance for the same or another Interest Period. Each Eurocurrency Advance shall continue as a Eurocurrency Advance until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Advance shall be exchanged for an Equivalent amount of Dollars and converted into an Alternate Base Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another different Interest Period. Subject to the terms of Section 2.62.7, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Advance of any Type into any other Type or Types of Advances; provided that any conversion of any LIBOR Rate Advance into a Term SOFR Advance. Subject to the payment of any funding indemnification amounts required by Section 3.4shall be made on, and only on, the last day of the Interest Period applicable Borrower may elect from time to time to convert all or any part of a Term SOFR Advance into an Alternate Base Rate Advancethereto. The applicable Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each (x) conversion of an Alternate Base Advance to a LIBOR Rate Advance into a Term SOFR Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency LIBOR Rate Advance not later than 11:00 a.m. (New York Cleveland time) ), at least three (3) RFR Business Days (or Days, in the case of a Eurocurrency conversion into or continuation of a LIBOR Rate Advance, at least three (3) Business Days) prior to the date of the requested conversion or continuation and (y) conversion of a Term SOFR Advance into an Alternate Base Rate Advancecontinuation, not later than 12:00 p.m. (New York time) on the date of the requested conversion, in each case specifying:

Appears in 1 contract

Samples: Assignment Agreement (Glimcher Realty Trust)

Conversion and Continuation of Outstanding Advances. Each Alternate Base Rate Advance Advances shall continue as an Alternate Base Rate Advance Advances unless and until such Alternate Base Rate Advance is Advances are converted into a Term SOFR Advance Advances pursuant to this Section 2.9 ‎Section 2.09 or is are repaid in accordance with Section 2.7‎Section 2.07. Each XXXXX Advance Alternative Currency Daily Rate Advances shall continue as a XXXXX Advance Alternative Currency Daily Rate Advances unless and until such XXXXX Advance is Alternative Currency Daily Rate Advances are repaid in accordance with Section 2.7‎Section 2.07. Each Term SOFR Advance shall automatically continue as a Term SOFR Advance until the end of the then applicable with an Interest Period therefor, at which time such Term SOFR Advance shall be automatically converted into an Alternate Base Rate Advanceof one month,, unless (ax) such Term SOFR Advance is or was repaid in accordance with Section 2.7 ‎Section 2.07 or (by) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Term SOFR Advance convert to a Base Rate Advance or continue as a Term SOFR Advance for the same or another Interest Period. Each Eurocurrency Alternative Currency Term Rate Advance shall continue as a Eurocurrency an Alternative Currency Term Rate Advance until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Alternative Currency Term Rate Advance shall be exchanged for automatically continued as an Equivalent amount of Dollars and converted into an Alternate Base Alternative Currency Term Rate AdvanceAdvance in its original currency with the same Interest Period, unless (ax) such Eurocurrency Alternative Currency Term Rate Advance is or was repaid in accordance with Section 2.7 ‎Section 2.07 or (by) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Alternative Currency Term Rate Advance continue as a Eurocurrency convert to an Alternative Currency Term Rate Advance for the same or another Interest Period. Subject to the terms of Section 2.6‎Section 2.06, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Advance into a Term SOFR Advance. Subject to No Advance may be converted into or continued as an Advance denominated in a different currency, but instead must be repaid in the payment original currency of any funding indemnification amounts required by Section 3.4, such Advance and reborrowed in the applicable Borrower other currency. No Advance made in an Alternative Currency may elect from time to time to convert all or any part of a Term SOFR Advance be converted into an Alternate Base Rate Advance, but instead must be prepaid as an Alternate Currency Advance and reborrowed in Dollars. Notwithstanding anything to the contrary contained in this ‎Section 2.09, when any Default has occurred and is continuing (I) no Dollar-denominated Advance may be converted or continued as a Term SOFR Advance (except with the consent of the Required Lenders) and (II) no Alternative Currency Term Rate Advance shall be continued other than as an Alternative Currency Term Rate Advance in its original currency with the same Interest Period (except with the consent of the Required Lenders). The applicable Borrower shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit F (a “Conversion/Continuation Notice”) or such other form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), in each case appropriately completed and signed by an Authorized Officer of the Borrower, of each (x) conversion of an Alternate Base Rate Advance into a Term SOFR Advance or the continuation Advance, conversion of a Term SOFR Advance as a new into an Alternate Base Rate Advance or continuation of an Alternative Currency Term Rate Advance or Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency Advance not later than 11:00 a.m. (New York time) at least three (3x) RFR Business Days (or in the case of a Eurocurrency AdvanceAlternative Currency Term Rate Advances, at least three (3) Business DaysDays prior to, and (y) in the case of Term SOFR Advances, two (2) Business Days prior to, to the date of the requested conversion or continuation and (y) conversion of a Term SOFR Advance into an Alternate Base Rate Advancecontinuation, not later than 12:00 p.m. (New York time) on the date of the requested conversion, in each case specifying:

Appears in 1 contract

Samples: Credit Agreement (GXO Logistics, Inc.)

Conversion and Continuation of Outstanding Advances. Floating Rate Advances shall continue as Floating Rate Advances unless and until such Floating Rate Advances are converted into LIBORSOFR Rate Advances. Each Alternate Base LIBORSOFR Rate Advance shall continue as an Alternate Base a LIBORSOFR Rate Advance unless and until such Alternate Base Rate Advance is converted into a Term SOFR Advance pursuant to this Section 2.9 or is repaid in accordance with Section 2.7. Each XXXXX Advance shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR Advance until the end of the then applicable Interest Period therefor, at which time such Term SOFR LIBORSOFR Rate Advance shall be automatically converted into an Alternate Base as a LIBORSOFR Rate Advance, but with an Interest Period of one month unless (a) such Term SOFR Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent an irrevocable notice (a Conversion/Continuation Notice (as defined belowNotice”) requesting that, at the end of such Interest Period, such Term SOFR LIBORSOFR Rate Advance either continue as a Term SOFR LIBORSOFR Rate Advance for the same or another Interest PeriodPeriod or be converted to an Advance of another Type. Each Eurocurrency Advance shall continue as a Eurocurrency Advance until Notwithstanding the end provision for automatic conversion in the foregoing sentence, if the effective date of any such automatic conversion is less than one month prior to the then applicable Interest Period thereforthen-current Facility Termination Date, at which time such Eurocurrency LIBORSOFR Rate Advance shall be exchanged for an Equivalent amount of Dollars and automatically converted into an Alternate Base a Floating Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another Interest Period. Subject to the terms of Section 2.62.7, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Advance of any Type into any other Type or Types of Advances; provided that, if any conversion of any LIBORSOFR Rate Advance into a Term SOFR Advance. Subject shall be made on any day other than the last day of the Interest Period applicable thereto, the Borrower shall be obligated to pay the payment of any funding indemnification amounts required by amounts, if any, payable pursuant to Section 3.4, the applicable Borrower may elect from time to time to convert all or any part of a Term SOFR Advance into an Alternate Base Rate Advance. The applicable Borrower shall give the Administrative Agent irrevocable notice (a Conversion/Continuation Notice”) of Notice regarding each (x) conversion of an Alternate Base Advance to a LIBORSOFR Rate Advance into a Term SOFR Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency LIBORSOFR Rate Advance not later than 11:00 a.m. (New York time) at least three (3) RFR Business Days (or in the case of a Eurocurrency Advance), at least three (3) Business Days) , in the case of a conversion into or continuation of a LIBORSOFR Rate Advance, prior to the date of the requested conversion or continuation continuation, specifying: (i) the requested date which shall be a Business Day, of such conversion or continuation; (ii) the aggregate amount, Tranche and Type of the Advance which is to be converted or continued; and - 42 - US_Active\121347781\V-16 (yiii) conversion the amount and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a Term SOFR Advance conversion into an Alternate Base or continuation of a LIBORSOFR Rate Advance, not later than 12:00 p.m. (New York time) on the date duration of the requested conversion, in each case specifying:Interest Period applicable thereto. 2.10.

Appears in 1 contract

Samples: Term Loan Credit Agreement (InvenTrust Properties Corp.)

Conversion and Continuation of Outstanding Advances. Floating Rate Advances shall continue as Floating Rate Advances unless and until such Floating Rate Advances are converted into LIBOR Rate Advances. Each Alternate Base LIBOR Rate Advance shall continue as an Alternate Base a LIBOR Rate Advance unless and until such Alternate Base Rate Advance is converted into a Term SOFR Advance pursuant to this Section 2.9 or is repaid in accordance with Section 2.7. Each XXXXX Advance shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR Advance until the end of the then applicable Interest Period therefor, at which time such Term SOFR LIBOR Rate Advance shall be automatically converted into an Alternate Base as a LIBOR Rate Advance, but with an Interest Period of one month unless (a) such Term SOFR Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent an irrevocable notice (a Conversion/Continuation Notice (as defined belowNotice”) requesting that, at the end of such Interest Period, such Term SOFR LIBOR Rate Advance either continue as a Term SOFR LIBOR Rate Advance for the same or another Interest PeriodPeriod or be converted to an Advance of another Type. Each Eurocurrency Advance shall continue as a Eurocurrency Advance until Notwithstanding the end provision for automatic conversion in the foregoing sentence, if the effective date of any such automatic conversion is less than one month prior to the then applicable Interest Period thereforthen-current Facility Termination Date for such Loan, at which time such Eurocurrency LIBOR Rate Advance shall be exchanged for an Equivalent amount of Dollars and automatically converted into an Alternate Base a Floating Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another Interest Period. Subject to the terms of Section 2.62.7, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Advance of any Type into any other Type or Types of Advances; provided that, if any conversion of any LIBOR Rate Advance into a Term SOFR Advance. Subject shall be made on any day other than the last day of the Interest Period applicable thereto, the Borrower shall be obligated to pay the payment of any funding indemnification amounts required by amounts, if any, payable pursuant to Section 3.4, the applicable Borrower may elect from time to time to convert all or any part of a Term SOFR Advance into an Alternate Base Rate Advance. The applicable Borrower shall give the Administrative Agent irrevocable notice (a Conversion/Continuation Notice”) of Notice regarding each (x) conversion of an Alternate Base Advance to a LIBOR Rate Advance into a Term SOFR Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency LIBOR Rate Advance not later than 11:00 a.m. (New York Cleveland time) at least three (3) RFR Business Days (or in the case of a Eurocurrency Advance), at least three (3) Business Days) , in the case of a conversion into or continuation of a LIBOR Rate Advance, prior to the date of the requested conversion or continuation and (y) conversion of a Term SOFR Advance into an Alternate Base Rate Advancecontinuation, not later than 12:00 p.m. (New York time) on the date of the requested conversion, in each case specifying:: 42

Appears in 1 contract

Samples: Credit Agreement (Inland Real Estate Income Trust, Inc.)

Conversion and Continuation of Outstanding Advances. Each Alternate Base Rate Advance Advances shall continue as an Alternate Base Rate Advance Advances unless and until such Alternate Base Rate Advance is Advances are converted into a Term SOFR Advance pursuant to this Section 2.9 or is repaid in accordance with Section 2.7LIBOR Advances. Each XXXXX LIBOR Advance shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR LIBOR Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such Term SOFR LIBOR Advance shall be automatically converted into an Alternate a Base Rate Advance, Advance unless (a) such Term SOFR Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such LIBOR Interest Period, such Term SOFR LIBOR Advance either continue as a Term SOFR LIBOR Advance for the same or another Interest Period. Each Eurocurrency Period or be converted to an Advance shall continue as a Eurocurrency Advance until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Advance shall be exchanged for an Equivalent amount of Dollars and converted into an Alternate Base Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another Interest PeriodType. Subject to the terms of Section 2.62.7, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Advance of any Type into any other Type or Types of Advances; provided that any conversion of any LIBOR Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term SOFR A Advance can only be converted into another Type of Term A Advance, that a Term B Advance can only be converted into another Type of Term B Advance and that a Term C Advance can only be converted into another Type of Term C Advance. Subject to the payment of any funding indemnification amounts required by Section 3.4, the applicable Borrower may elect from time to time to convert all or any part of a Term SOFR Advance into an Alternate Base Rate Advance. The applicable Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each (x) conversion of an Alternate Base Rate Advance into to a Term SOFR LIBOR Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency LIBOR Advance not later than 11:00 10:00 a.m. (New York Cleveland time) ), at least three (3) RFR Business Days (or Days, in the case of a Eurocurrency conversion into or continuation of a LIBOR Advance, at least three (3) Business Days) prior to the date of the requested conversion or continuation and (y) conversion of a Term SOFR Advance into an Alternate Base Rate Advancecontinuation, not later than 12:00 p.m. (New York time) on the date of the requested conversion, in each case specifying:

Appears in 1 contract

Samples: Senior Credit Agreement (Terreno Realty Corp)

Conversion and Continuation of Outstanding Advances. Each Alternate Base Floating Rate Advance Advances shall continue as an Alternate Base Floating Rate Advance Advances unless and until such Alternate Base Floating Rate Advance is Advances are converted into a Term SOFR Advance Benchmark Advances pursuant to this Section 2.9 2.7 or is are repaid in accordance with Section 2.7. Each XXXXX Advance shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7this Agreement. Each Term SOFR Benchmark Advance shall continue as a Term SOFR Benchmark Advance until the end of the then applicable Interest Period therefor, at which time such Term SOFR Benchmark Advance shall be automatically converted into an Alternate Base a Floating Rate Advance, Advance unless (ax) such Term SOFR Benchmark Advance is or was repaid in accordance with Section 2.7 this Agreement or (by) the applicable Borrower Representative shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Term SOFR Benchmark Advance continue as a Term SOFR Advance for the same or another Interest Period. Each Eurocurrency Advance shall continue as a Eurocurrency Advance until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Advance shall be exchanged for an Equivalent amount of Dollars and converted into an Alternate Base Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Benchmark Advance for the same or another Interest Period. Subject to the terms of Section 2.62.4, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Advance into a Term SOFR Advance. Subject to the payment of any funding indemnification amounts required by Section 3.4, the applicable Borrower Representative may elect from time to time to convert all or any part of a Term SOFR Floating Rate Advance into an Alternate Base Rate Advancea Term Benchmark Advance on behalf of the applicable Borrower. The applicable Borrower Representative shall give the Administrative Agent irrevocable notice in the form of Exhibit B (a “Conversion/Continuation Notice”) of each (x) conversion of an Alternate Base a Floating Rate Advance into a Term SOFR Benchmark Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency Benchmark Advance not later than 11:00 10:00 a.m. (New York Chicago time) at least three (3) RFR Business Days (or in the case of a Eurocurrency Advance, at least three (3) Business Days) prior to the date of the requested conversion or continuation continuation, specifying (i) the requested date, which shall be a Business Day, of such conversion or continuation, (ii) the aggregate amount and Type of the Advance which is to be converted or continued, and (yiii) conversion the amount of such Advance which is to be converted into or continued as a Term SOFR Benchmark Advance into an Alternate Base Rate Advance, not later than 12:00 p.m. (New York time) on and the date duration of the requested conversion, in each case specifying:Interest Period applicable thereto.

Appears in 1 contract

Samples: Credit Agreement (Star Group, L.P.)

Conversion and Continuation of Outstanding Advances. Each Alternate Base Floating Rate Advance Advances shall continue as an Alternate Base Floating Rate Advance Advances unless and until such Alternate Base Floating Rate Advance is Advances are converted into a Term SOFR Advance LIBOR Advances pursuant to this Section 2.9 or is are repaid in accordance with Section 2.7. Each XXXXX LIBOR Advance shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR LIBOR Advance until the end of the then applicable Interest Period therefor, at which time such Term SOFR LIBOR Advance shall be automatically converted into an Alternate Base a Floating Rate Advance, Advance unless (ax) such Term SOFR LIBOR Advance is or was repaid in accordance with Section 2.7 or 2.7, (by) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Term SOFR LIBOR Advance continue as a Term SOFR LIBOR Advance for the same or another Interest Period. Each Eurocurrency Advance shall continue as a Eurocurrency Advance until Period or (z) upon the end occurrence and during the continuance of any Default, each LIBOR Advance, may, at the Required Lender’s direction, on the last day of the then applicable existing Interest Period therefor, at which time such Eurocurrency convert into a Floating Rate Advance and the obligations of the Lenders to make, or to convert Floating Rate Advances into LIBOR Advances shall be exchanged for an Equivalent amount of Dollars and converted into an Alternate Base Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another Interest Periodsuspended. Subject to the terms of Section 2.6, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Advance into a Term SOFR Advance. Subject to the payment of any funding indemnification amounts required by Section 3.4, the applicable Borrower may elect from time to time to convert all or any part of a Term SOFR Floating Rate Advance into an Alternate Base Rate a LIBOR Advance. Notwithstanding anything to the contrary SIDLEY XXXXXX XXXXX & XXXX LLP contained in this Section 2.9, no Advance may be converted or continued as a LIBOR Advance (except with the consent of the Required Lenders) when any Default or Unmatured Default has occurred and in continuing. The applicable Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each (x) conversion of an Alternate Base a Floating Rate Advance into a Term SOFR LIBOR Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency LIBOR Advance not later than 11:00 a.m. 12:00 noon (New York Chicago time) at least three (3) RFR Business Days (or in the case of a Eurocurrency Advance, at least three (3) Business Days) prior to the date of the requested conversion or continuation and (y) conversion of a Term SOFR Advance into an Alternate Base Rate Advancecontinuation, not later than 12:00 p.m. (New York time) on the date of the requested conversion, in each case specifying:

Appears in 1 contract

Samples: Credit Agreement (Argonaut Group Inc)

Conversion and Continuation of Outstanding Advances. Each Alternate Base Floating Rate Advance Advances shall continue as an Alternate Base Floating Rate Advance Advances unless and until such Alternate Base Floating Rate Advance is Advances are converted into a Term SOFR Advance LIBOR Advances pursuant to this Section 2.9 or is are repaid in accordance with Section 2.7. Each XXXXX LIBOR Advance shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR LIBOR Advance until the end of the then applicable Interest Period therefor, at which time such Term SOFR LIBOR Advance shall be automatically converted into an Alternate Base a Floating Rate Advance, Advance unless (ax) such Term SOFR LIBOR Advance is or was repaid in accordance with Section 2.7 or 2.7, (by) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Term SOFR LIBOR Advance continue as a Term SOFR LIBOR Advance for the same or another Interest Period. Each Eurocurrency Advance shall continue as a Eurocurrency Advance until Period or (z) upon the end occurrence and during the continuance of any Default, each LIBOR Advance, may, at the Required Lender’s direction, on the last day of the then applicable existing Interest Period therefor, at which time such Eurocurrency convert into a Floating Rate Advance and the obligations of the Lenders to make, or to convert Floating Rate Advances into LIBOR Advances shall be exchanged for an Equivalent amount of Dollars and converted into an Alternate Base Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another Interest Periodsuspended. Subject to the terms of Section 2.6, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Advance into a Term SOFR Advance. Subject to the payment of any funding indemnification amounts required by Section 3.4, the applicable Borrower may elect from time to time to convert all or any part of a Term SOFR Floating Rate Advance into an Alternate Base Rate a LIBOR Advance. Notwithstanding anything to the contrary contained in this Section 2.9, no Advance may be converted or continued as a LIBOR Advance (except with the consent of the Required Lenders) when any Default or Unmatured Default has occurred and in continuing. The applicable Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each (x) conversion of an Alternate Base a Floating Rate Advance into a Term SOFR LIBOR Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency LIBOR Advance not later than 11:00 a.m. 12:00 noon (New York Chicago time) at least three (3) RFR Business Days (or in the case of a Eurocurrency Advance, at least three (3) Business Days) prior to the date of the requested conversion or continuation and (y) conversion of a Term SOFR Advance into an Alternate Base Rate Advancecontinuation, not later than 12:00 p.m. (New York time) on the date of the requested conversion, in each case specifying:

Appears in 1 contract

Samples: Credit Agreement (FBL Financial Group Inc)

Conversion and Continuation of Outstanding Advances. Floating Rate Advances shall continue as Floating Rate Advances unless and until such Floating Rate Advances are converted into LIBOR Rate Advances. Each Alternate Base LIBOR Rate Advance shall continue as an Alternate Base a LIBOR Rate Advance unless and until such Alternate Base Rate Advance is converted into a Term SOFR Advance pursuant to this Section 2.9 or is repaid in accordance with Section 2.7. Each XXXXX Advance shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such Term SOFR LIBOR Rate Advance shall be automatically converted into an Alternate Base a Floating Rate Advance, Advance unless (a) such Term SOFR Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) Notice” requesting that, at the end of such LIBOR Interest Period, such Term SOFR LIBOR Rate Advance either continue as a Term SOFR LIBOR Rate Advance for the same or another Interest Period. Each Eurocurrency Advance shall continue as a Eurocurrency Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such Eurocurrency or be converted to an Advance shall be exchanged for an Equivalent amount of Dollars and converted into an Alternate Base Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another Interest PeriodType. Subject to the terms of Section 2.62.7, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Advance of any Type into any other Type or Types of Advances; provided that any conversion of any LIBOR Rate Advance into a Term SOFR Advance. Subject to the payment of any funding indemnification amounts required by Section 3.4shall be made on, and only on, the last day of the Interest Period applicable Borrower may elect from time to time to convert all or any part of a Term SOFR Advance into an Alternate Base Rate Advancethereto. The applicable Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each (x) conversion of an Alternate Base Advance to a LIBOR Rate Advance into a Term SOFR Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency LIBOR Rate Advance not later than 11:00 a.m. (New York Cleveland time) ), at 15031925\V-9 least three (3) RFR Business Days (or Days, in the case of a Eurocurrency conversion into or continuation of a LIBOR Rate Advance, at least three (3) Business Days) prior to the date of the requested conversion or continuation and (y) conversion of a Term SOFR Advance into an Alternate Base Rate Advancecontinuation, not later than 12:00 p.m. (New York time) on the date of the requested conversion, in each case specifying:

Appears in 1 contract

Samples: Assignment Agreement (Glimcher Realty Trust)

AutoNDA by SimpleDocs

Conversion and Continuation of Outstanding Advances. Each Alternate Base Floating Rate Advance Advances of a Class shall continue as an Alternate Base Floating Rate Advance Advances of such Class unless and until such Alternate Base Floating Rate Advance is Advances are converted into a LIBOR RateDaily Simple SOFR Advances of the same Class or Term SOFR Advance pursuant to this Section 2.9 Advances of the same Class. Daily Simple SOFR Advances of a Class shall continue as Daily Simple SOFR Advances of such Class unless and until such Daily Simple SOFR Advances are converted into Floating Rate Advances of the same Class or is repaid in accordance with Section 2.7Term SOFR Advances of the same Class. Each XXXXX LIBOR RateTerm SOFR Advance of a Class shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term LIBOR RateTerm SOFR Advance shall continue as a Term SOFR Advance of such Class until the end of the then applicable Interest Period thereforthereforetherefor, at which time such Term LIBOR RateTerm SOFR Advance shall be automatically converted into an Alternate Base a Floating Rate Advance, Advance of the same Class unless (a) such Term SOFR Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) Notice” requesting that, at the end of such Interest Period, such Term LIBOR RateTerm SOFR Advance either continue as a Term LIBOR RateTerm SOFR Advance of the same Class for the same or another Interest Period. Each Eurocurrency Period or be converted to an Advance shall continue as a Eurocurrency Advance until the end of another Type but of the then applicable Interest Period therefor, at which time such Eurocurrency Advance shall be exchanged for an Equivalent amount of Dollars and converted into an Alternate Base Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another Interest PeriodClass. Subject to the terms of Section 2.62.7, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Advance into a Term SOFR Advance. Subject to the payment of any funding indemnification amounts required by Section 3.4, the applicable Borrower may elect from time to time to convert all or any part of a Term Floating Ratean Advance of one Type of a Class into a LIBOR Ratean Advance of another Type of the same Class and vice versa; provided that any conversion of any LIBOR RateTerm SOFR Advance into an Alternate Base Rate Advanceshall be made on, and only on, the last day of the Interest Period applicable thereto. The applicable Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each (xeach(X) conversion of an Alternate Base Rate Advance into a Term SOFR Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency Advance not later than 11:00 a.m. (New York time) at least three (3) RFR Business Days (or in the case of a Eurocurrency Advanceconversion of an Advance to a LIBOR RateTerm SOFR Advance or a continuation of a LIBOR RateTerm SOFR Advance not later than 10:00 a.m. (Cleveland, Ohio time), at least three (3) Business Days) , in the case of a conversion into or continuation of a LIBOR Rate Advance, prior to the date of the requested conversion or continuation and continuation, or (yY) conversion in the case of a Term conversion into or continuation of a Floating Rate Advance or a Daily Simple SOFR Advance into an Alternate Base Rate Advance, not later than 12:00 p.m. 10:00 a.m. (New York Cleveland, Ohio time) on the date of the requested conversionconversion or continuation, in each case specifying:

Appears in 1 contract

Samples: Credit Agreement (Kite Realty Group, L.P.)

Conversion and Continuation of Outstanding Advances. Floating Rate Advances shall continue as Floating Rate Advances unless and until such Floating Rate Advances are converted into LIBOR Rate Advances. Each Alternate Base LIBOR Rate Advance shall continue as an Alternate Base a LIBOR Rate Advance unless and until such Alternate Base Rate Advance is converted into a Term SOFR Advance pursuant to this Section 2.9 or is repaid in accordance with Section 2.7. Each XXXXX Advance shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR Advance until the end of the then applicable Interest Period therefor, at which time such Term SOFR LIBOR Rate Advance shall be automatically converted into an Alternate Base as a LIBOR Rate Advance, but with an Interest Period of one month unless (a) such Term SOFR Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent an irrevocable notice (a Conversion/Continuation Notice (as defined belowNotice”) requesting that, at the end of such Interest Period, such Term SOFR LIBOR Rate Advance either continue as a Term SOFR LIBOR Rate Advance for the same or another Interest PeriodPeriod or be converted to an Advance of another Type. Each Eurocurrency Advance shall continue as a Eurocurrency Advance until Notwithstanding the end provision for automatic conversion in the foregoing sentence, if the effective date of any such automatic conversion is less than one month prior to the then applicable Interest Period thereforthen-current Revolver Termination Date, at which time in the case of Revolving Advances, or one month prior to the Final Termination Date, in the case of Term Advances, such Eurocurrency LIBOR Rate Advance shall be exchanged for an Equivalent amount of Dollars and automatically converted into an Alternate Base a Floating Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another Interest Period. Subject to the terms of Section 2.62.7, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Advance of any Type into any other Type or Types of Advances; provided that, if any conversion of any LIBOR Rate Advance into a Term SOFR Advance. Subject to shall be made on any day other than the payment last day of any funding indemnification amounts required by Section 3.4the Interest Period applicable thereto, the applicable Borrower may elect from time to time to convert all or any part of a Term SOFR Advance into an Alternate Base Rate Advance. The applicable Borrower shall give be obligated to pay the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each (x) conversion of an Alternate Base Rate Advance into a Term SOFR Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency Advance not later than 11:00 a.m. (New York time) at least three (3) RFR Business Days (or in the case of a Eurocurrency Advanceamounts, at least three (3) Business Days) prior to the date of the requested conversion or continuation and (y) conversion of a Term SOFR Advance into an Alternate Base Rate Advanceif any, not later than 12:00 p.m. (New York time) on the date of the requested conversion, in each case specifying:payable pursuant to

Appears in 1 contract

Samples: Credit Agreement (Inland American Real Estate Trust, Inc.)

Conversion and Continuation of Outstanding Advances. Each Alternate Base Rate Advance Advances shall continue as an Alternate Base Rate Advance Advances unless and until such Alternate Base Rate Advance is Advances are converted into a Term SOFR LIBOR Advance pursuant to this Section 2.9 or is repaid in accordance with Section 2.7a Cost of Funds Advance. Each XXXXX LIBOR Advance shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR LIBOR Advance until the end of the then applicable Interest Period therefor, at which time such Term SOFR LIBOR Advance shall be automatically converted into continue as a LIBOR Advance in the same currency with an Alternate Base Rate Advance, Interest Period of one month unless (a) such Term SOFR Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower Credit Party shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Term SOFR LIBOR Advance either continue as a Term SOFR LIBOR Advance for the same or another Interest Period. Each Eurocurrency Period or be converted into an Advance shall continue as of another Type, it being understood that if the applicable Credit Party fails either to repay or give the Agent a Eurocurrency timely and valid Conversion/Continuation Notice with respect to any LIBOR Advance until prior to the end of the then applicable Interest Period therefor, at which time such Eurocurrency LIBOR Advance shall be exchanged continue as a LIBOR Advance for an Equivalent amount Interest Period of Dollars one month. If the applicable Credit Party fails either to repay or give the Agent a timely and converted into valid Conversion/Continuation Notice with respect to any Cost of Funds Advance prior to the expiration of the then applicable Interest Period therefor, such Cost of Funds Advance shall automatically convert to an Alternate Base Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end upon expiration of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another applicable Interest Period. Subject to the terms of Section 2.6, the applicable Borrower Credit Party may elect from time to time to convert all or any part of an Alternate Base Rate Advance into a Term SOFR Advance. Subject to the payment of any funding indemnification amounts required by Section 3.4Type into any other Type or Types of Advances; provided that (i) any conversion of any LIBOR Advance or Cost of Funds Advance shall be made on, and only on, the last day of the Interest Period applicable Borrower thereto, and (ii) LIBOR Advances denominated in a particular currency may elect from time to time to convert all not be continued or any part of a Term SOFR Advance converted into an Alternate Base Rate AdvanceLIBOR Advances denominated in another currency. The applicable Borrower Credit Party shall give the Administrative Agent irrevocable notice (a "Conversion/Continuation Notice") of each (x) conversion of an Alternate Base Rate Advance into a Term SOFR Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency LIBOR Advance not later than 11:00 a.m. (New York Boston time) at least three (3) RFR on the Business Days (or Day, in the case of a Eurocurrency conversion into an Alternate Base Rate Advance or a Cost of Funds Advance, at least three (3) or on the second Business Days) Day, in the case of a conversion into or continuation of a LIBOR Advance, prior to the date of the requested conversion or continuation and (y) conversion of a Term SOFR Advance into an Alternate Base Rate Advancecontinuation, not later than 12:00 p.m. (New York time) on the date of the requested conversion, in each case specifying:

Appears in 1 contract

Samples: Senior Revolving Credit Agreement (Enesco Group Inc)

Conversion and Continuation of Outstanding Advances. Floating Rate Advances shall continue as Floating Rate Advances unless and until such Floating Rate Advances are converted into LIBO Rate Advances pursuant to this Section 2.9 (other than Swingline Loans, which at all times shall be maintained as Floating Rate Advances) or are repaid in accordance with Sections 2.2 or 2.7. Each Alternate Base LIBO Rate Advance shall continue as an Alternate Base a LIBO Rate Advance unless and until such Alternate Base Rate Advance is converted into a Term SOFR Advance pursuant to this Section 2.9 or is repaid in accordance with Section 2.7. Each XXXXX Advance shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR Advance until the end of the then applicable Interest Period therefor, at which time such Term SOFR LIBO Rate Advance shall be automatically converted into continue as a LIBO Rate Advance for an Alternate Base Rate Advance, interest period of one month unless (ax) such Term SOFR LIBO Rate Advance is or was repaid in accordance with Section 2.7 Sections 2.2 or 2.7, (by) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Term SOFR LIBO Rate Advance continue be converted to a Floating Rate Advance or continued as a Term SOFR LIBO Rate Advance for the same or another Interest Period. Each Eurocurrency Advance shall continue as a Eurocurrency Advance until the end of the then applicable an Interest Period thereforof more than one month or (z) a Default or Unmatured Monetary Default has occurred and continues, at in which time event such Eurocurrency LIBO Rate Advance shall shall, unless the Majority Lenders otherwise agree, be exchanged for an Equivalent amount of Dollars and automatically converted into an Alternate Base a Floating Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another Interest Period. Subject to the terms of Section 2.6, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Advance into a Term SOFR Advance. Subject to the payment of any funding indemnification amounts required by Section 3.4, the applicable Borrower may elect from time to time to convert all or any part of a Term SOFR Floating Rate Advance into an Alternate Base a LIBO Rate AdvanceAdvance (other than Swingline Loans, which at all times shall be maintained as Floating Rate Advances). The applicable Borrower shall give the Administrative Agent irrevocable notice (a "Conversion/Continuation Notice") of each (x) conversion of an Alternate Base a Floating Rate Advance into a Term SOFR LIBO Rate Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency LIBO Rate Advance not later than 11:00 a.m. (New York time) at least three (3) RFR Business Days (or in the case of a Eurocurrency Advance, at least three (3) Business Days) prior to the date of the requested conversion or continuation and (y) conversion of a Term SOFR Advance into an Alternate Base Rate Advancecontinuation, not later than 12:00 p.m. (New York time) on the date of the requested conversion, in each case specifying:

Appears in 1 contract

Samples: Credit Agreement (Gaylord Entertainment Co /De)

Conversion and Continuation of Outstanding Advances. Each Alternate Base Floating Rate Advance Advances shall continue as an Alternate Base Floating Rate Advance Advances unless and until such Alternate Base Floating Rate Advance is Advances are converted into a Term SOFR Advance LIBOR Advances pursuant to this Section 2.9 or is are repaid in accordance with Section 2.7. Each XXXXX LIBOR Advance shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR LIBOR Advance until the end of the then applicable Interest Period therefor, at which time such Term SOFR LIBOR Advance shall be automatically converted into an Alternate Base a Floating Rate Advance, Advance unless (ax) such Term SOFR LIBOR Advance is or was repaid in accordance with Section 2.7 or 2.7, (by) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Term SOFR LIBOR Advance continue as a Term SOFR LIBOR Advance for the same or another Interest Period. Each Eurocurrency Advance shall continue as a Eurocurrency Advance until Period or (z) upon the end occurrence and during the continuance of any Default, each LIBOR Advance, may, at the Required Lender's direction, on the last day of the then applicable existing Interest Period therefor, at which time such Eurocurrency convert into a Floating Rate Advance and the obligations of the Lenders to make, or to convert Floating Rate Advances into LIBOR Rate Advances shall be exchanged for an Equivalent amount of Dollars and converted into an Alternate Base Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another Interest Periodsuspended. Subject to the terms of Section 2.6, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Advance into a Term SOFR Advance. Subject to the payment of any funding indemnification amounts required by Section 3.4, the applicable Borrower may elect from time to time to convert all or any part of a Term SOFR Floating Rate Advance into an Alternate Base Rate a LIBOR Advance. Notwithstanding anything to the contrary contained in this Section 2.9, no Advance may be converted or continued as a LIBOR Advance (except with the consent of the Required Lenders) when any Default or Unmatured Default has occurred and in continuing. The applicable Borrower shall give the Administrative Agent irrevocable notice (a “Conversion"CONVERSION/Continuation Notice”CONTINUATION NOTICE") of each (x) conversion of an Alternate Base a Floating Rate Advance into a Term SOFR LIBOR Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency LIBOR Advance not later than 11:00 10:00 a.m. (New York Chicago time) at least three (3) RFR Business Days (or in the case of a Eurocurrency Advance, at least three (3) Business Days) prior to the date of the requested conversion or continuation and (y) conversion of a Term SOFR Advance into an Alternate Base Rate Advancecontinuation, not later than 12:00 p.m. (New York time) on the date of the requested conversion, in each case specifying:

Appears in 1 contract

Samples: Credit Agreement (Insurance Auto Auctions Inc /Ca)

Conversion and Continuation of Outstanding Advances. Floating Rate Advances shall continue as Floating Rate Advances unless and until such Floating Rate Advances are converted into LIBOR Rate Advances. Each Alternate Base LIBOR Rate Advance shall continue as an Alternate Base a LIBOR Rate Advance unless and until such Alternate Base Rate Advance is converted into a Term SOFR Advance pursuant to this Section 2.9 or is repaid in accordance with Section 2.7. Each XXXXX Advance shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR - 27 - 13171960\V-5 Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such Term SOFR LIBOR Rate Advance shall be automatically converted into an Alternate Base a Floating Rate Advance, Advance unless (a) such Term SOFR Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) Notice” requesting that, at the end of such LIBOR Interest Period, such Term SOFR LIBOR Rate Advance either continue as a Term SOFR LIBOR Rate Advance for the same or another Interest Period. Each Eurocurrency Advance shall continue as a Eurocurrency Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such Eurocurrency or be converted to an Advance shall be exchanged for an Equivalent amount of Dollars and converted into an Alternate Base Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another Interest PeriodType. Subject to the terms of Section 2.62.7, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Advance of any Type into any other Type or Types of Advances; provided that any conversion of any LIBOR Rate Advance into a Term SOFR Advance. Subject to the payment of any funding indemnification amounts required by Section 3.4shall be made on, and only on, the last day of the Interest Period applicable Borrower may elect from time to time to convert all or any part of a Term SOFR Advance into an Alternate Base Rate Advancethereto. The applicable Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each (x) conversion of an Alternate Base Advance to a LIBOR Rate Advance into a Term SOFR Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency LIBOR Rate Advance not later than 11:00 a.m. (New York Cleveland time) ), at least three (3) RFR Business Days (or Days, in the case of a Eurocurrency conversion into or continuation of a LIBOR Rate Advance, at least three (3) Business Days) prior to the date of the requested conversion or continuation and (y) conversion of a Term SOFR Advance into an Alternate Base Rate Advancecontinuation, not later than 12:00 p.m. (New York time) on the date of the requested conversion, in each case specifying:

Appears in 1 contract

Samples: Credit Agreement (Glimcher Realty Trust)

Conversion and Continuation of Outstanding Advances. Each Alternate Base Rate Advance Advances shall continue as an Alternate Base Rate Advance Advances unless and until such Alternate Base Rate Advance is Advances are converted into a Term SOFR Advance Advances pursuant to this Section 2.9 2.09 or is are repaid in accordance with Section 2.72.07. Each XXXXX Advance shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR Advance until the end of the then applicable Interest Period therefor, at which time such Term SOFR Advance shall be automatically converted or continued, as applicable, into a SOFR Advance with an Alternate Base Rate AdvanceInterest Period of one month, unless (ax) such Term SOFR Advance is or was repaid in accordance with Section 2.7 2.07 or (by) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Term SOFR Advance convert to a Base Rate Advance or continue as a Term SOFR Advance for the same or another Interest Period. Each Eurocurrency Advance shall continue as a Eurocurrency Advance until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Advance shall be exchanged for automatically continued as a Eurocurrency Advance in its original currency with an Equivalent amount Interest Period of Dollars and converted into an Alternate Base Rate Advanceone month, unless (ax) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 2.07 or (by) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another Interest Period. Subject to the terms of Section 2.62.06, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Advance into a Term SOFR Advance. Subject to the payment of any funding indemnification amounts required by Section 3.4, the applicable Borrower may elect from time to time to convert all or any part of a Term Base Rate Advance into a SOFR Advance. No Advance may be converted into or continued as an Advance denominated in a different currency, but instead must be repaid in the original currency of such Advance and reborrowed in the other currency. No Advance made in a Foreign Currency may be converted into a Base Rate Advance or a SOFR Advance, but instead must be prepaid as a Eurocurrency Advance and reborrowed in Dollars. No Advance made in Dollars may be converted into a Eurocurrency Advance, but instead must be prepaid as a Base Rate Advance or SOFR Advance, as applicable, and reborrowed in a Foreign Currency. Notwithstanding anything to the contrary contained in this Section 2.09, when any Default has occurred and is continuing (I) no Dollar-denominated Advance may be converted or continued as a SOFR Advance into (except with the consent of the Required Lenders) and (II) no Eurocurrency Advance shall be continued other than as a Eurocurrency Loan in its original currency with an Alternate Base Rate AdvanceInterest Period of one month. The applicable Borrower shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit F (a “Conversion/Continuation Notice”) of each (x) conversion of an Alternate Base Rate Advance into a Term SOFR Advance or such other form as may be approved by the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency Advance not later than 11:00 a.m. (New York time) at least three (3) RFR Business Days (or in the case of a Eurocurrency Advance, at least three (3) Business Days) prior to the date of the requested conversion or continuation and (y) conversion of a Term SOFR Advance into an Alternate Base Rate Advance, not later than 12:00 p.m. (New York time) on the date of the requested conversion, in each case specifying:54 #98230960v1

Appears in 1 contract

Samples: Credit Agreement (RXO, Inc.)

Conversion and Continuation of Outstanding Advances. Each Alternate Base Floating Rate Advance Advances shall continue as an Alternate Base Floating Rate Advance Advances unless and until such Alternate Base Floating Rate Advance is Advances are converted into a Term SOFR Advance LIBOR Advances pursuant to this Section 2.9 or is are repaid in accordance with Section 2.7. Each XXXXX LIBOR Advance shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR LIBOR Advance until the end of the then applicable Interest Period therefor, at which time such Term SOFR LIBOR Advance shall be automatically converted into an Alternate Base a Floating Rate Advance, Advance unless (ax) such Term SOFR LIBOR Advance is or was repaid in accordance with Section 2.7 or 2.7, (by) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Term SOFR LIBOR Advance continue as a Term SOFR LIBOR Advance for the same or another Interest Period. Each Eurocurrency Advance shall continue as a Eurocurrency Advance until Period or (z) upon the end occurrence and during the continuance of any Default, each LIBOR Advance, may, at the Required Lender's direction, on the last day of the then applicable existing Interest Period therefor, at which time such Eurocurrency convert into a Floating Rate Advance and the obligations of the Lenders to make, or to convert Floating Rate Advances into LIBOR Advances shall be exchanged for an Equivalent amount of Dollars and converted into an Alternate Base Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another Interest Periodsuspended. Subject to the terms of Section 2.6, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Advance into a Term SOFR Advance. Subject to the payment of any funding indemnification amounts required by Section 3.4, the applicable Borrower may elect from time to time to convert all or any part of a Term SOFR Floating Rate Advance into an Alternate Base Rate a LIBOR Advance. Notwithstanding anything to the contrary contained in this Section 2.9, no Advance may be converted or continued as a LIBOR Advance (except with the consent of all of the Lenders) when any Default or Unmatured Default has occurred and is continuing. The applicable Borrower shall give the Administrative Agent irrevocable notice (a “Conversion"CONVERSION/Continuation Notice”CONTINUATION NOTICE") of each (x) conversion of an Alternate Base a Floating Rate Advance into a Term SOFR LIBOR Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency LIBOR Advance not later than 11:00 10:00 a.m. (New York Chicago time) at least three (3) RFR Business Days (or in the case of a Eurocurrency Advance, at least three (3) Business Days) prior to the date of the requested conversion or continuation and (y) conversion of a Term SOFR Advance into an Alternate Base Rate Advancecontinuation, not later than 12:00 p.m. (New York time) on the date of the requested conversion, in each case specifying:

Appears in 1 contract

Samples: Credit Agreement (Insurance Auto Auctions Inc /Ca)

Conversion and Continuation of Outstanding Advances. Each Alternate Base Rate Advance Advances shall continue as an Alternate Base Rate Advance Advances unless and until such Alternate Base Rate Advance is Advances are converted into a Term SOFR LIBOR Advance pursuant to this Section 2.9 or is repaid in accordance with Section 2.7a Cost of Funds Advance. Each XXXXX LIBOR Advance shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR LIBOR Advance until the end of the then applicable Interest Period therefor, at which time such Term SOFR LIBOR Advance shall be automatically converted into continue as a LIBOR Advance with an Alternate Base Rate Advance, Interest Period of one month unless (a) such Term SOFR Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower Credit Party shall have given the Administrative Agent Bank a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Term SOFR LIBOR Advance either continue as a Term SOFR LIBOR Advance for the same or another Interest Period. Each Eurocurrency Period or be converted into an Advance shall continue as of another Type, it being understood that if the applicable Credit Party fails either to repay or give the Bank a Eurocurrency timely and valid Conversion/Continuation Notice with respect to any LIBOR Advance until prior to the end of the then applicable Interest Period therefor, at which time such Eurocurrency LIBOR Advance shall be exchanged continue as a LIBOR Advance for an Equivalent amount Interest Period of Dollars one month. If the applicable Credit Party fails either to repay or give the Bank a timely and converted into valid Conversion/Continuation Notice with respect to any Cost of Funds Advance prior to the expiration of the then applicable Interest Period therefor, such Cost of Funds Advance shall automatically convert to an Alternate Base Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end upon expiration of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another applicable Interest Period. Subject to the terms of Section 2.6, the applicable Borrower Credit Party may elect from time to time to convert all or any part of an Alternate Base Rate Advance into a Term SOFR Advance. Subject to the payment of any funding indemnification amounts required by Section 3.4, the applicable Borrower may elect from time to time to convert all Type into any other Type or any part Types of a Term SOFR Advance into an Alternate Base Rate Advance. The applicable Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each (x) conversion of an Alternate Base Rate Advance into a Term SOFR Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency Advance not later than 11:00 a.m. (New York time) at least three (3) RFR Business Days (or in the case of a Eurocurrency Advance, at least three (3) Business Days) prior to the date of the requested conversion or continuation and (y) conversion of a Term SOFR Advance into an Alternate Base Rate Advance, not later than 12:00 p.m. (New York time) on the date of the requested conversion, in each case specifying:Advances;

Appears in 1 contract

Samples: Assignment Agreement (Enesco Group Inc)

Conversion and Continuation of Outstanding Advances. Floating Rate Advances shall continue as Floating Rate Advances unless and until such Floating Rate Advances are converted into LIBOR Rate Advances. Each Alternate Base LIBOR Rate Advance shall continue as an Alternate Base a LIBOR Rate Advance unless and until such Alternate Base Rate Advance is converted into a Term SOFR Advance pursuant to this Section 2.9 or is repaid in accordance with Section 2.7. Each XXXXX Advance shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such Term SOFR LIBOR Rate Advance shall be automatically converted into an Alternate Base a Floating Rate Advance, Advance unless (a) such Term SOFR Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such LIBOR Interest Period, such Term SOFR LIBOR Rate Advance either continue as a Term SOFR LIBOR Rate Advance for the same or another Interest PeriodPeriod or be converted to an Advance of another Type. Each Eurocurrency Advance shall Advances initially made under Tranche A or Tranche B must continue as a Eurocurrency Advance until Advances under such Tranche and cannot be converted to or combined with Advances under the end of the then applicable Interest Period therefor, at which time such Eurocurrency Advance shall be exchanged for an Equivalent amount of Dollars and converted into an Alternate Base Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another Interest Periodother Tranche. Subject to the terms of Section 2.62.7, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Advance of any Type into any other Type or Types of Advances; provided that any conversion of any LIBOR Rate Advance into a Term SOFR Advance. Subject to the payment of any funding indemnification amounts required by Section 3.4shall be made on, and only on, the last day of the Interest Period applicable Borrower may elect from time to time to convert all or any part of a Term SOFR Advance into an Alternate Base Rate Advancethereto. The applicable Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each (x) conversion of an Alternate Base Advance to a LIBOR Rate Advance into a Term SOFR Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency LIBOR Rate Advance not later than 11:00 a.m. (New York Cleveland time) ), at least three (3) RFR Business Days (or Days, in the case of a Eurocurrency conversion into or continuation of a LIBOR Rate Advance, at least three (3) Business Days) prior to the date of the requested conversion or continuation and (y) conversion of a Term SOFR Advance into an Alternate Base Rate Advancecontinuation, not later than 12:00 p.m. (New York time) on the date of the requested conversion, in each case specifying:

Appears in 1 contract

Samples: Assignment Agreement (Glimcher Realty Trust)

Conversion and Continuation of Outstanding Advances. Each Alternate Base Rate Advance Borrowings shall continue as an Alternate Base Rate Advance Borrowings unless and until such Alternate Base Rate Advance is Borrowings are converted into a Term SOFR Advance LIBOR Loans pursuant to this Section 2.9 2.02 or is are repaid in accordance with Section 2.7this Article II. Each XXXXX Advance LIBOR Borrowing shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR Advance LIBOR Borrowing until the end of the then applicable Interest Period therefor, at which time such Term SOFR Advance LIBOR Borrowing shall be automatically converted into an Alternate a Base Rate Advance, Borrowing unless (ax) such Term SOFR Advance LIBOR Borrowing is or was repaid in accordance with Section 2.7 this Article II or (by) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Term SOFR Advance LIBOR Borrowing continue as a Term SOFR Advance LIBOR Borrowing for the same or another Interest Period. Each Eurocurrency Advance shall continue as a Eurocurrency Advance until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Advance shall be exchanged for an Equivalent amount of Dollars and converted into an Alternate Base Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another Interest Period. Subject to the terms of Section 2.6, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Advance into a Term SOFR Advance. Subject to the payment of any funding indemnification amounts required by Section 3.4, the applicable The Borrower may elect from time to time to convert all or any part of a Term SOFR Advance into an Alternate Base Rate AdvanceBorrowing into a LIBOR Borrowing, provided that the resulting Borrowings shall be in a minimum amount of $5,000,000. The applicable Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each (x) conversion of an Alternate a Base Rate Advance Borrowing into a Term SOFR Advance LIBOR Borrowing or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency Advance LIBOR Borrowing not later than 11:00 a.m. 1:00 P.M. (New York Chicago time) at least three (3) RFR Business Days (or in the case of a Eurocurrency Advance, at least three (3) Business Days) prior to the date of the requested conversion or continuation and (y) conversion of a Term SOFR Advance into an Alternate Base Rate Advancecontinuation, not later than 12:00 p.m. (New York time) on the date of the requested conversion, in each case specifying:

Appears in 1 contract

Samples: Credit Agreement (Sigma Aldrich Corp)

Conversion and Continuation of Outstanding Advances. Each Alternate Base Floating Rate Advance Advances of a Class shall continue as an Alternate Base Floating Rate Advance Advances of such Class unless and until such Alternate Base Floating Rate Advance is Advances are converted into a LIBOR RateDaily Simple SOFR Advances of the same Class or Term SOFR Advance pursuant to this Section 2.9 Advances of the same Class. Daily Simple SOFR Advances of a Class shall continue as Daily Simple SOFR Advances of such Class unless and until such Daily Simple SOFR Advances are converted into Floating Rate Advances of the same Class or is repaid in accordance with Section 2.7Term SOFR Advances of the same Class. Each XXXXX LIBOR RateTerm SOFR Advance of a Class shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term LIBOR RateTerm SOFR Advance shall continue as a Term SOFR Advance of such Class until the end of the then applicable Interest Period therefor, at which time such Term LIBOR RateTerm SOFR Advance shall be automatically converted into an Alternate Base a Floating Rate Advance, Advance of the same Class unless (a) such Term SOFR Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) Notice” requesting that, at the end of such Interest Period, such Term LIBOR RateTerm SOFR Advance either continue as a Term LIBOR RateTerm SOFR Advance of the same Class for the same or another Interest Period. Each Eurocurrency Period or be converted to an Advance shall continue as a Eurocurrency Advance until the end of another Type but of the then applicable Interest Period therefor, at which time such Eurocurrency Advance shall be exchanged for an Equivalent amount of Dollars and converted into an Alternate Base Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another Interest PeriodClass. Subject to the terms of Section 2.6, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Advance into a Term SOFR Advance. Subject to the payment of any funding indemnification amounts required by Section 3.4, the applicable The Borrower may elect from time to time to convert all or any part of a Term Floating Ratean Advance of one Type of a Class into a LIBOR Ratean Advance of another Type of the same Class and vice versa; provided that any conversion of any LIBOR RateTerm SOFR Advance into an Alternate Base Rate Advanceshall be made on, and only on, the last day of the Interest Period applicable thereto. The applicable Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each (xeach(X) conversion of an Alternate Base Rate Advance into a Term SOFR Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency Advance not later than 11:00 a.m. (New York time) at least three (3) RFR Business Days (or in the case of a Eurocurrency Advanceconversion of an Advance to a LIBOR RateTerm SOFR Advance or a continuation of a LIBOR RateTerm SOFR Advance not later than 10:00 a.m. (Cleveland, Ohio time), at least three (3) Business Days) , in the case of a conversion into or continuation of a LIBOR Rate Advance, prior to the date of the requested conversion or continuation and continuation, or (yY) conversion in the case of a Term conversion into or continuation of a Floating Rate Advance or a Daily Simple SOFR Advance into an Alternate Base Rate Advance, not later than 12:00 p.m. 10:00 a.m. (New York Cleveland, Ohio time) on the date of the requested conversionconversion or continuation, in each case specifying:

Appears in 1 contract

Samples: Term Loan Agreement (Kite Realty Group, L.P.)

Conversion and Continuation of Outstanding Advances. (a) Floating Rate Advances shall continue as Floating Rate Advances unless and until such Floating Rate Advances are converted into Fixed Rate Advances pursuant to this Section 2.7 or are repaid in accordance with this Agreement. Each Alternate Base Fixed Rate Advance shall continue as an Alternate Base a Fixed Rate Advance unless and until such Alternate Base Rate Advance is converted into a Term SOFR Advance pursuant to this Section 2.9 or is repaid in accordance with Section 2.7. Each XXXXX Advance shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR Advance until the end of the then applicable Interest Period therefor, at which time such Term SOFR Fixed Rate Advance shall be automatically converted into an Alternate Base a Floating Rate Advance, other than any UK Fixed Rate Advance, unless (a) such Term SOFR Fixed Rate Advance is or was repaid in accordance with Section 2.7 this Agreement or (b) the applicable Domestic Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Term SOFR Fixed Rate Advance continue continues as a Term SOFR Fixed Rate Advance for the same or another Interest Period. Each Eurocurrency UK Fixed Rate Advance shall continue as a Eurocurrency Advance until at the end of the then applicable Interest Period therefor, at which time such Eurocurrency Advance shall unless repaid, be exchanged for an Equivalent amount of Dollars and converted into an Alternate Base Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue continued as a Eurocurrency UK Fixed Rate Advance for with an Interest Period with the same or another Interest Periodleast number of days possible. Subject to the terms of Section 2.62.4, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Advance into a Term SOFR Advance. Subject to the payment of any funding indemnification amounts required by Section 3.4, the applicable Domestic Borrower may elect from time to time to convert all or any part of a Term SOFR Floating Rate Advance into an Alternate Base a Fixed Rate Advance. The applicable Domestic Borrower shall give the Administrative Agent irrevocable notice in the form of EXHIBIT B (a "Conversion/Continuation Notice") of each (x) conversion of an Alternate Base a Floating Rate Advance into a Term SOFR Fixed Rate Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency Fixed Rate Advance not later than 11:00 10:00 a.m. (New York Chicago time) at least three (3) RFR Business Days (or in the case of a Eurocurrency Advance, at least three (3) Business Days) prior to the date of the requested conversion or continuation continuation, specifying (i) the requested date, which shall be a Business Day, of such conversion or continuation, (ii) the aggregate amount and Type of the Advance which is to be converted or continued, (iii) the amount of such Advance which is to be converted into or continued as a Fixed Rate Advance (provided that the amounts set forth in Section 2.4 shall be complied with), and (yiv) conversion of a Term SOFR Advance into an Alternate Base Rate Advance, not later than 12:00 p.m. (New York time) on the date duration of the requested conversionInterest Period applicable thereto. In each Conversion/Continuance Notice, in each case specifying:the Domestic Borrower shall designate whether any Advance is a Fixed Asset Advance or a Capex Advance.

Appears in 1 contract

Samples: Credit Agreement (Park Ohio Holdings Corp)

Conversion and Continuation of Outstanding Advances. Each Alternate Base Rate Advance shall continue as an Alternate Base Rate Advance unless and until such Alternate Base Rate Advance is converted into a Term SOFR Eurocurrency Advance pursuant to this Section 2.9 or is repaid in accordance with Section 2.7. Each XXXXX Advance shall continue as a XXXXX Advance unless and until such XXXXX Advance is repaid in accordance with Section 2.7. Each Term SOFR Advance shall continue as a Term SOFR Advance until the end of the then applicable Interest Period therefor, at which time such Term SOFR Advance shall be automatically converted into an Alternate Base Rate Advance, unless (a) such Term SOFR Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Term SOFR Advance continue as a Term SOFR Advance for the same or another Interest Period. Each Eurocurrency Advance shall continue as a Eurocurrency Advance until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Advance, if denominated in Dollars shall be automatically converted into an Alternate Base Rate Advance shall or, if denominated in a Committed CurrencyEuro, be exchanged for an Equivalent amount of Dollars and converted into an Alternate Base Rate Advance, unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.7 or (b) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another Interest Period. Subject to the terms of Section 2.6, the applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Advance into a Term SOFR AdvanceEurocurrency Advance denominated in Dollars. Subject to the payment of any funding indemnification amounts required by Section 3.4, the applicable Borrower may elect from time to time to convert all or any part of a Term SOFR Eurocurrency Advance denominated in Dollars into an Alternate Base Rate Advance. The applicable Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each (x) conversion of an Alternate Base Rate Advance into a Term SOFR Eurocurrency Advance or the continuation of a Term SOFR Advance as a new Term SOFR Advance or a Eurocurrency Advance as a new Eurocurrency Advance not later than 11:00 a.m. (New York time) at least three (3) RFR Business Days (or in the case of a Eurocurrency Advance, at least three (3) Business Days) prior to the date of the requested conversion or continuation and (y) conversion of a Term SOFR Eurocurrency Advance into an Alternate Base Rate Advance, not later than 12:00 p.m. (New York time) on the date of the requested conversion, in each case specifying:

Appears in 1 contract

Samples: Credit Agreement (Aon PLC)

Time is Money Join Law Insider Premium to draft better contracts faster.