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

Conversion and Continuation of Outstanding Advances. Alternative Base Rate Advances shall continue as Alternative Base Rate Advances unless and until such Alternative Base Rate Advances are converted into Eurocurrency Advances pursuant to this Section 2.2.3. 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 either be paid, or it will automatically be converted into an Alternative Base Rate Advance unless the Borrower shall have given the Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Advance shall continue as a Eurocurrency Advance for the same or another Interest Period; provided, that (a) Eurocurrency Advances may not be converted from one Permitted Currency to a different Permitted Currency and (b) Eurocurrency Advances owing in any Optional Currency shall not be automatically converted but shall be due and payable at the end of the relevant Interest Period. Subject to the terms of Section 2.6, the Borrower may elect from time to time to convert all or any part of an Alternative Base Rate Advance into a Eurocurrency Advance. The Borrower shall give the Agent irrevocable notice (a "Conversion/Continuation Notice") of each conversion of an Alternative Base Rate Advance into a Eurocurrency Advance or continuation of a Eurocurrency Advance not later than 10:00 a.m. (Detroit time) at least three Business Days prior to the date of the requested conversion or continuation, specifying:

Appears in 3 contracts

Samples: Credit Agreement (Mueller Industries Inc), Credit Agreement (Mueller Industries Inc), Credit Agreement (Mueller Industries Inc)

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Conversion and Continuation of Outstanding Advances. Alternative Base Floating Rate Advances shall continue as Alternative Base Floating Rate Advances unless and until such Alternative Base Floating Rate Advances are converted into Eurocurrency Advances pursuant to this Section 2.2.3Eurodollar Advances. Each Eurocurrency Eurodollar Advance shall continue as a Eurocurrency Eurodollar Advance until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Eurodollar Advance shall either be paid, or it will automatically be converted into an Alternative Base a Floating Rate Advance unless the 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 Eurodollar Advance shall either continue as a Eurocurrency Eurodollar Advance for the same or another Interest Period; provided, that (a) Eurocurrency Advances may not Period or be converted from one Permitted Currency to into a different Permitted Currency and (b) Eurocurrency Advances owing in any Optional Currency shall not be automatically converted but shall be due and payable at the end of the relevant Interest PeriodFloating Rate Advance. Subject to the terms of Section 2.6hereof, the Borrower may elect from time to time to convert all or any part of an Alternative Base Rate Advance of any Type into any other Type or Types of Advances; provided that any conversion of any Eurodollar Advance shall be made on, and only on, the last day of the Interest Period applicable thereto. Notwithstanding anything herein to the contrary, no Loan may be converted to a Eurocurrency AdvanceEurodollar Loan, and no Eurodollar Loan may be continued as such, if any Default or Unmatured Default has occurred and is continuing. The Borrower shall give the Administrative Agent irrevocable notice (a "ConversionCONVERSION/Continuation NoticeCONTINUATION NOTICE") of each conversion of an Alternative Base Rate Advance into a Eurocurrency Advance or continuation of a Eurocurrency Eurodollar Advance not later than 10:00 11:00 a.m. (Detroit time) at least one Business Day, in the case of a conversion into a Floating Rate Advance or three Business Days Days, in the case of a conversion into or continuation of a Eurodollar Advance, prior to the date of the requested conversion or continuation, specifying:

Appears in 3 contracts

Samples: Day Credit Agreement (Arvinmeritor Inc), Year Revolving Credit Agreement (Arvinmeritor Inc), Day Credit Agreement (Arvinmeritor Inc)

Conversion and Continuation of Outstanding Advances. Alternative Base Rate ABR Advances shall continue as Alternative Base Rate ABR Advances unless and until such Alternative Base Rate ABR Advances are converted into Eurocurrency Advances pursuant to this Section 2.2.3Eurodollar Advances. Each Eurocurrency Eurodollar Advance shall continue as a Eurocurrency Eurodollar Advance until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Eurodollar Advance shall either be paid, or it will automatically be converted into an Alternative Base Rate ABR Advance unless the Borrower shall have given the Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Eurodollar Advance shall continue as a Eurocurrency Eurodollar Advance for the same or another Interest Period; provided, that (a) Eurocurrency Advances may not be converted from one Permitted Currency to a different Permitted Currency and (b) Eurocurrency Advances owing in any Optional Currency shall not be automatically converted but shall be due and payable at the end of the relevant Interest Period. Subject to the terms of Section 2.6SECTION 2.5, the Borrower may elect from time to time to convert all or any part of an Alternative Base Rate Advance of any Type into a Eurocurrency Advanceany other Type or Types of Advances; PROVIDED, HOWEVER, that any conversion of any Eurodollar Advance shall be made on, and only on, the last day of the Interest Period applicable thereto. The Borrower shall give the Agent irrevocable notice (a "Conversion/Continuation NoticeCONVERSION/ CONTINUATION NOTICE") of each conversion of an Alternative Base Rate Advance into a Eurocurrency ABR Advance or continuation of a Eurocurrency Eurodollar Advance not later than 10:00 a.m. (Detroit Chicago time) on the conversion date, in the case of a conversion into an ABR Advance, or at least three (3) Business Days Days, in the case of a conversion into or continuation of a Eurodollar Advance, prior to the date of the requested conversion or continuation, specifying:

Appears in 3 contracts

Samples: Credit Agreement (Fund American Enterprises Holdings Inc), Credit Agreement (Fund American Enterprises Holdings Inc), Credit Agreement (Fund American Enterprises Holdings Inc)

Conversion and Continuation of Outstanding Advances. Alternative Base Rate ABR Advances shall continue as Alternative Base Rate ABR Advances unless and until such Alternative Base Rate ABR Advances are converted into Eurocurrency Advances pursuant to this Section 2.2.3Eurodollar Advances. Each Eurocurrency Eurodollar Advance shall continue as a Eurocurrency Eurodollar Advance until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Eurodollar Advance shall either be paid, or it will automatically be converted into an Alternative Base Rate ABR Advance unless the Borrower shall have given the Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Eurodollar Advance shall continue as a Eurocurrency Eurodollar Advance for the same or another Interest Period; provided, that (a) Eurocurrency Advances may not be converted from one Permitted Currency to a different Permitted Currency and (b) Eurocurrency Advances owing in any Optional Currency shall not be automatically converted but shall be due and payable at the end of the relevant Interest Period. Subject to the terms of Section 2.62.5, the Borrower may elect from time to time to convert all or any part of an Alternative Base Rate Advance of any Type into a Eurocurrency Advanceany other Type or Types of Advances; provided, however, that any conversion of any Eurodollar Advance shall be made on, and only on, the last day of the Interest Period applicable thereto. The Borrower shall give the Agent irrevocable notice (a "Conversion/Continuation Notice") of each conversion of an Alternative Base Rate Advance into a Eurocurrency ABR Advance or continuation of a Eurocurrency Eurodollar Advance not later than 10:00 a.m. (Detroit Chicago time) on the conversion date, in the case of a conversion into an ABR Advance, or at least three (3) Business Days Days, in the case of a conversion into or continuation of a Eurodollar Advance, prior to the date of the requested conversion or continuation, specifying:

Appears in 3 contracts

Samples: Credit Agreement (Fund American Enterprises Holdings Inc), Credit Agreement (Fund American Enterprises Holdings Inc), Credit Agreement (Fund American Enterprises Holdings Inc)

Conversion and Continuation of Outstanding Advances. Alternative Base Rate ABR Advances --------------------------------------------------- shall continue as Alternative Base Rate ABR Advances unless and until such Alternative Base Rate ABR Advances are converted into Eurocurrency Advances pursuant to this Section 2.2.3Eurodollar Advances. Each Eurocurrency Eurodollar Advance shall continue as a Eurocurrency Eurodollar Advance until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Eurodollar Advance shall either be paid, or it will automatically be converted into an Alternative Base Rate ABR Advance unless the Borrower shall have given the Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Eurodollar Advance shall continue as a Eurocurrency Eurodollar Advance for the same or another Interest Period; provided, that (a) Eurocurrency Advances may not be converted from one Permitted Currency to a different Permitted Currency and (b) Eurocurrency Advances owing in any Optional Currency shall not be automatically converted but shall be due and payable at the end of the relevant Interest Period. Subject to the terms of Section 2.62.5, the Borrower may ----------- elect from time to time to convert all or any part of an Alternative Base Rate Advance of any Type into a Eurocurrency Advanceany other Type or Types of Advances; provided, however, that any conversion -------- ------- of any Eurodollar Advance shall be made on, and only on, the last day of the Interest Period applicable thereto. The Borrower shall give the Agent irrevocable notice (a "Conversion/Continuation Notice") of each conversion of ------------------------------ an Alternative Base Rate Advance into a Eurocurrency ABR Advance or continuation of a Eurocurrency Eurodollar Advance not later than 10:00 a.m. (Detroit Chicago time) on the conversion date, in the case of a conversion into an ABR Advance, or at least three (3) Business Days Days, in the case of a conversion into or continuation of a Eurodollar Advance, prior to the date of the requested conversion or continuation, specifying:

Appears in 2 contracts

Samples: Credit Agreement (Fund American Enterprises Holdings Inc), Credit Agreement (Fund American Enterprises Holdings Inc)

Conversion and Continuation of Outstanding Advances. Alternative Base Rate ABR Advances --------------------------------------------------- shall continue as Alternative Base Rate ABR Advances unless and until such Alternative Base Rate ABR Advances are converted into Eurocurrency Advances pursuant to this Section 2.2.3Eurodollar Advances. Each Eurocurrency Eurodollar Advance shall continue as a Eurocurrency Eurodollar Advance until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Eurodollar Advance shall either be paid, or it will automatically be converted into an Alternative Base Rate ABR Advance unless the Borrower shall have given the Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Eurodollar Advance shall continue as a Eurocurrency Eurodollar Advance for the same or another Interest Period; provided, that (a) Eurocurrency Advances may not be converted from one Permitted Currency to a different Permitted Currency and (b) Eurocurrency Advances owing in any Optional Currency shall not be automatically converted but shall be due and payable at the end of the relevant Interest Period. Subject to the terms of Section 2.62.5, the Borrower may elect from time to ----------- time to convert all or any part of an Alternative Base Rate Advance of any Type into a Eurocurrency Advanceany other Type or Types of Advances; provided, however, that any conversion of any Eurodollar -------- ------- Advance shall be made on, and only on, the last day of the Interest Period applicable thereto. The Borrower shall give the Agent irrevocable notice (a "Conversion/Conversion/ Continuation Notice") of each conversion of an Alternative Base Rate Advance into a Eurocurrency ABR Advance or ------------------------------- continuation of a Eurocurrency Eurodollar Advance not later than 10:00 a.m. (Detroit Chicago time) on the conversion date, in the case of a conversion into an ABR Advance, or at least three (3) Business Days Days, in the case of a conversion into or continuation of a Eurodollar Advance, prior to the date of the requested conversion or continuation, specifying:

Appears in 2 contracts

Samples: Credit Agreement (Fund American Enterprises Holdings Inc), Credit Agreement (Fund American Enterprises Holdings Inc)

Conversion and Continuation of Outstanding Advances. Alternative Base No Conversion or Continuation of Eurodollar Advances After Default. Floating Rate Advances shall continue as Alternative Base Floating Rate Advances unless and until such Alternative Base Floating Rate Advances are converted into Eurocurrency Eurodollar Advances pursuant to this Section 2.2.32.10 or are repaid in accordance with Section 2.8. Each Eurocurrency Eurodollar Advance shall continue as a Eurocurrency Eurodollar Advance until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Eurodollar Advance shall either be paid, or it will automatically be converted into an Alternative Base a Floating Rate Advance unless (x) such Eurodollar Advance is or was repaid in accordance with Section 2.8 or (y) 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 Eurodollar Advance shall continue as a Eurocurrency Eurodollar Advance for the same or another Interest Period; provided, that (a) Eurocurrency Advances may not Period or be converted from one Permitted Currency to into a different Permitted Currency and (b) Eurocurrency Advances owing in any Optional Currency shall not be automatically converted but shall be due and payable at the end of the relevant Interest PeriodFloating Rate Advance. Subject to the terms of Section 2.62.7, the Borrower Borrowers may elect from time to time to convert all or any part of an Alternative Base Rate Advance of any Type into any other Type or Types of Advances; provided that any conversion of any Eurodollar Advance shall be made on, and only on, the last day of the Interest Period applicable thereto. Notwithstanding anything to the contrary contained in this Section 2.10, no Advance may be converted or continued as a Eurocurrency AdvanceEurodollar Advance (except with the consent of the Required Lenders) when any Default or Unmatured Default is continuing. The applicable Borrower shall give the Administrative Agent irrevocable notice (a "ConversionCONVERSION/Continuation NoticeCONTINUATION NOTICE") of each conversion of an Alternative Base Rate Advance into a Eurocurrency Advance or continuation of a Eurocurrency Eurodollar Advance not later than 10:00 a.m. (Detroit Chicago time) at least one (1) Business Day, in the case of a conversion into a Floating Rate Advance, or three (3) Business Days Days, in the case of a conversion into or continuation of a Eurodollar Advance, prior to the date of the requested conversion or continuation, specifying:

Appears in 2 contracts

Samples: Assignment Agreement (Acuity Brands Inc), Assignment Agreement (Acuity Brands Inc)

Conversion and Continuation of Outstanding Advances. Alternative Base Floating Rate Advances shall continue as Alternative Base Floating Rate Advances unless and until such Alternative Base Floating Rate Advances are converted into Eurocurrency Eurodollar Advances pursuant to this Section 2.2.32.09 or are repaid in accordance with Section 2.07. Each Eurocurrency Eurodollar Advance shall continue as a Eurocurrency Eurodollar Advance until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Eurodollar Advance shall either be paid, or it will automatically be converted into an Alternative Base a Floating Rate Advance unless (x) such Eurodollar Advance is or was repaid in accordance with Section 2.07 or (y) the 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 Eurodollar Advance shall continue as a Eurocurrency Eurodollar Advance for the same or another Interest Period; provided, that (a) Eurocurrency Advances may not be converted from one Permitted Currency to a different Permitted Currency and (b) Eurocurrency Advances owing in any Optional Currency shall not be automatically converted but shall be due and payable at the end of the relevant Interest Period. Subject to the terms of Section 2.62.06, the Borrower may elect from time to time to convert all or any part of an Alternative Base a Floating Rate Advance into a Eurocurrency Eurodollar Advance. Notwithstanding anything to the contrary contained in this Section 2.09, no Advance may be converted or continued as a Eurodollar Advance (except with the consent of the Required Lenders) when any Default has occurred and is continuing. The Borrower shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit G (a "Conversion/Continuation Notice") of each conversion of an Alternative Base a Floating Rate Advance into a Eurocurrency Eurodollar Advance or continuation of a Eurocurrency Eurodollar Advance not later than 10:00 11:00 a.m. (Detroit New York time) at least three (3) Business Days prior to the date of the requested conversion or continuation, specifying:

Appears in 2 contracts

Samples: Credit Agreement (Walgreen Co), Credit Agreement (Walgreen Co)

Conversion and Continuation of Outstanding Advances. Alternative Base Rate ABR Advances --------------------------------------------------- shall continue as Alternative Base Rate ABR Advances unless and until such Alternative Base Rate ABR Advances are converted into Eurocurrency Advances pursuant to this Section 2.2.3Eurodollar Advances. Each Eurocurrency Eurodollar Advance shall continue as a Eurocurrency Eurodollar Advance until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Eurodollar Advance shall either be paid, or it will automatically be converted into an Alternative Base Rate ABR Advance unless the Borrower shall have given the Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Eurodollar Advance shall continue as a Eurocurrency Eurodollar Advance for the same or another Interest Period; provided, that (a) Eurocurrency Advances may not be converted from one Permitted Currency to a different Permitted Currency and (b) Eurocurrency Advances owing in any Optional Currency shall not be automatically converted but shall be due and payable at the end of the relevant Interest Period. Subject to the terms of Section 2.62.5, the Borrower may elect from time to ----------- time to convert all or any part of an Alternative Base Rate Advance of any Type into a Eurocurrency Advanceany other Type or Types of Advances; provided, however, -------- ------- that any conversion of any Eurodollar Advance shall be made on, and only on, the last day of the Interest Period applicable thereto. The Borrower shall give the Agent irrevocable notice (a "Conversion/Conversion/ Continuation Notice") of each ------------------------------- conversion of an Alternative Base Rate Advance into a Eurocurrency ABR Advance or continuation of a Eurocurrency Eurodollar Advance not later than 10:00 a.m. (Detroit Chicago time) on the conversion date, in the case of a conversion into an ABR Advance, or at least three (3) Business Days Days, in the case of a conversion into or continuation of a Eurodollar Advance, prior to the date of the requested conversion or continuation, specifying:

Appears in 2 contracts

Samples: Credit Agreement (Fund American Enterprises Holdings Inc), Credit Agreement (Fund American Enterprises Holdings Inc)

Conversion and Continuation of Outstanding Advances. Alternative Base Floating Rate Advances shall continue as Alternative Base Floating Rate Advances unless and until such Alternative Base Floating Rate Advances are converted into Eurocurrency Eurodollar Advances pursuant to this Section 2.2.32.9 or are repaid in accordance with Section 2.7. Each Eurocurrency Eurodollar Advance shall continue as a Eurocurrency Eurodollar Advance until the end of the then applicable Interest Period therefor, at which time each such Eurocurrency Eurodollar Advance shall either be paid, or it will automatically be converted into an Alternative Base a Floating Rate Advance unless (x) such Eurodollar Advance is or was repaid in accordance with Section 2.7 or (y) the 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 Eurodollar Advance shall either continue as a Eurocurrency Eurodollar Advance for the same or another Interest Period; provided, that (a) Eurocurrency Advances may not Period or be converted from one Permitted Currency to into a different Permitted Currency and (b) Eurocurrency Advances owing in any Optional Currency shall not be automatically converted but shall be due and payable at the end of the relevant Interest PeriodFloating Rate Advance. Subject to the terms of Section 2.6, the Borrower may elect from time to time to convert all or any part of an Alternative Base Rate Advance of any Type into a Eurocurrency Advanceany other Type or Types of Advances, provided that any conversion of any Eurodollar Advance shall be made on, and only on, the last day of the Interest Period applicable thereto. The Borrower shall give the Administrative Agent irrevocable notice (a "Conversion/Continuation Notice") of each conversion of an Alternative Base Rate Advance into a Eurocurrency Advance or continuation of a Eurocurrency Eurodollar Advance not later than 10:00 a.m. (Detroit time) at least one Business Day, in the case of a conversion into a Floating Rate Advance, three Business Days Days, in the case of a conversion into or continuation of a Eurodollar Advance, prior to the date of the requested conversion or continuation, specifying:

Appears in 2 contracts

Samples: Day Credit Agreement (Cardinal Health Inc), 1 (Cardinal Health Inc)

Conversion and Continuation of Outstanding Advances. Alternative Alternate Base Rate Advances shall continue as Alternative Alternate Base Rate Advances unless and until such Alternative Alternate Base Rate Advances are converted into Eurocurrency Advances pursuant to this Section 2.2.3Eurodollar Advances. Each Eurocurrency Eurodollar Advance shall continue as a Eurocurrency Eurodollar Advance until the end of the then applicable Eurodollar Interest Period therefor, at which time such Eurocurrency Eurodollar Advance shall either be paid, or it will automatically be converted into an Alternative a Alternate Base Rate Advance unless the Borrower shall have given the Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Eurodollar Interest Period, such Eurocurrency Eurodollar Advance shall either continue as a Eurocurrency Eurodollar Advance for the same or another Interest Period; provided, that (a) Eurocurrency Advances may not be converted from one Permitted Currency to a different Permitted Currency and (b) Eurocurrency Advances owing in any Optional Currency shall not be automatically converted but shall be due and payable at the end of the relevant Interest Period. Subject to the terms of Section 2.6, the Borrower may elect from time to time to convert all or any part of an Alternative Base Rate Advance of any Type into a Eurocurrency Advanceany other Type or Types of Advances; provided that any conversion of any Eurodollar Advance shall be made on, and only on, the last day of the Eurodollar Interest Period applicable thereto. The Borrower shall give the Agent irrevocable notice (a "Conversion/Continuation Notice") of each conversion of an Alternative Base Rate Advance into a Eurocurrency Advance or continuation of a Eurocurrency Eurodollar Advance not later than 10:00 a.m. (Detroit Chicago time) at least three one Business Days Day, in the case of a conversion into a Alternate Base Rate Advance, or two Business Days, in the case of a conversion into or continuation of a Eurodollar Advance, prior to the date of the requested conversion or continuation, specifying:

Appears in 2 contracts

Samples: Assignment Agreement (Platinum Technology Inc), Assignment Agreement (Platinum Technology International Inc)

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Conversion and Continuation of Outstanding Advances. Alternative Base Floating Rate Advances shall continue as Alternative Base Floating Rate Advances unless and until such Alternative Base Floating Rate Advances are converted into Eurocurrency Advances pursuant to this Section 2.2.3Eurodollar Advances. Each Eurocurrency Eurodollar Advance shall continue as a Eurocurrency Eurodollar Advance until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Eurodollar Advance shall either be paid, or it will automatically be converted into an Alternative Base a Floating Rate Advance unless the Borrower shall have given the Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Eurodollar Advance shall either continue as a Eurocurrency Eurodollar Advance for the same or another Interest Period; provided, that (a) Eurocurrency Advances may not Period or be converted from one Permitted Currency to into a different Permitted Currency and (b) Eurocurrency Advances owing in any Optional Currency shall not be automatically converted but shall be due and payable at the end of the relevant Interest PeriodFloating Rate Advance. Subject to the terms of Section 2.6, the Borrower may elect from time to time to convert all or any part of an Alternative Base Rate Advance of any Type into a Eurocurrency Advanceany other Type or Types of Advances; provided that any conversion of any Eurodollar Advance shall be made on, and only on, the last day of the Interest Period applicable thereto. The Borrower shall give the Agent irrevocable notice (a "Conversion/Continuation Notice") of each conversion of an Alternative Base Rate Advance into a Eurocurrency Advance or continuation of a Eurocurrency Eurodollar Advance not later than 10:00 a.m. (Detroit Chicago time) at least one Business Day, in the case of a conversion into a Floating Rate Advance, or three Business Days Days, in the case of a conversion into or continuation of a Eurodollar Advance, prior to the date of the requested conversion or continuation, specifying:

Appears in 1 contract

Samples: Credit Agreement (Tri State Outdoor Media Group Inc)

Conversion and Continuation of Outstanding Advances. Alternative Base Floating Rate Advances shall continue as Alternative Base Floating Rate Advances unless and until such Alternative Base Floating Rate Advances are converted into Eurocurrency Eurodollar Advances pursuant to this Section 2.2.32.5 or are repaid. Each Eurocurrency Eurodollar Advance shall continue as a Eurocurrency Advance Eurodollar Advance, until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Eurodollar Advance shall either be paid, or it will automatically be converted into an Alternative Base a Floating Rate Advance unless (x) such Advance is or was repaid or (y) the 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 shall continue as a Eurocurrency Eurodollar Advance for the same or another Interest Period; provided, that (a) Eurocurrency Advances may not be converted from one Permitted Currency to a different Permitted Currency and (b) Eurocurrency Advances owing in any Optional Currency shall not be automatically converted but shall be due and payable at the end of the relevant Interest Period. Subject to the terms of Section 2.62.3, the Borrower may elect from time to time to convert all or any part of an Alternative Base Rate any Advance into a Eurocurrency Advancean Advance of the other Type. The Borrower shall give the Administrative Agent irrevocable notice (a "Conversion/Continuation Notice") of each continuation or conversion of an Alternative Base Rate Advance (other than an automatic continuation or conversion as provided in this Section 2.5) not later than the time specified in Section 2.4 for the making of the Type of Advance to be continued or converted into, specifying: the requested date, which shall be a Business Day, of such conversion or continuation, the aggregate amount and Type of the Advance which is to be converted or continued, in the case of conversion of an Advance, the Type of Advance to be converted into, the amount of the Advance which is to be converted or continued, and in the case of conversion into a Eurocurrency Advance or continuation of a Eurocurrency Advance not later than 10:00 a.m. (Detroit time) at least three Business Days prior to Eurodollar Advance, the date duration of the requested conversion Interest Period applicable thereto. Each Conversion/Continuation Notice given by the Borrower shall constitute a representation and warranty by the Borrower that no Default or continuation, specifying:Unmatured Default exists.

Appears in 1 contract

Samples: Assignment Agreement (Southwestern Energy Co)

Conversion and Continuation of Outstanding Advances. Alternative Base Rate ABR Advances shall continue as Alternative Base Rate ABR Advances unless and until such Alternative Base Rate Advances are paid or converted into Eurocurrency Advances pursuant to this Section 2.2.3Eurodollar Advances. Each Eurocurrency Eurodollar Advance shall continue as a Eurocurrency Eurodollar Advance until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Eurodollar Advance shall either be paid, or it will automatically be converted into an Alternative Base Rate ABR Advance unless the 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 Eurodollar Advance shall either continue as a Eurocurrency Eurodollar Advance for the same or another Interest Period; provided, that (a) Eurocurrency Advances may not Period or be converted from one Permitted Currency to a different Permitted Currency and (b) Eurocurrency Advances owing in any Optional Currency shall not be automatically converted but shall be due and payable at the end of the relevant Interest Periodinto an ABR Advance. Subject to the terms of Section 2.62.10, the Borrower may elect from time to time to convert all or any part of an Alternative Base Rate Advance of any type into a Eurocurrency another type of Advance; provided that any conversion of any Eurodollar Advance shall be made on, and only on, the last day of the Interest Period applicable thereto. The Borrower shall give the Administrative Agent irrevocable notice (a "Conversion/Continuation Notice") of each conversion of an Alternative Base Rate Advance into a Eurocurrency Advance or continuation of a Eurocurrency Eurodollar Advance not later than 10:00 11:00 a.m. (Detroit Chicago time) at least the Business Day, in the case of a conversion into an ABR Advance, or three Business Days Days, in the case of a conversion into or continuation of a Eurodollar Advance, prior to the date of the requested conversion or 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 (iii) the amount and type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a Eurodollar Advance, the duration of the Interest Period applicable thereto.

Appears in 1 contract

Samples: Credit Agreement (Northern Border Partners Lp)

Conversion and Continuation of Outstanding Advances. Alternative Base Floating --------------------------------------------------- Rate Advances shall continue as Alternative Base Floating Rate Advances unless and until such Alternative Base Floating Rate Advances are converted into Eurocurrency Advances pursuant to this Section 2.2.3Advances. Each Eurocurrency Advance shall continue as a Eurocurrency Advance of such Type until the end of the then applicable Eurocurrency Interest Period therefor, at which time such Eurocurrency Advance shall either be paid, or it will automatically be converted into an Alternative Base a Floating Rate Advance unless the Borrower shall have given the Agent a Conversion/Continuation Notice (as defined below) in accordance with the terms of this Section ------- 2.9 requesting that, at the end of such Eurocurrency Interest Period, such --- Eurocurrency Advance shall continue as a Eurocurrency Advance for the same or another Eurocurrency Interest Period; provided, that (a) . The beginning of a new Eurocurrency Advances may not be converted from one Permitted Currency to a different Permitted Currency and (b) Eurocurrency Advances owing in any Optional Currency Interest Period shall not be automatically converted but shall be due and payable at the end of the relevant Interest Perioddeemed a new Advance under this Agreement. Subject to the terms of Section 2.6, the Borrower may elect from time to time ----------- to convert all or any part of an Alternative Base Rate Advance of any Type into a any other Type or Types of Advances; provided that any conversion of any Eurocurrency AdvanceAdvance shall be made on, and only on, the last day of the Eurocurrency Interest Period applicable thereto. The Borrower shall give the Agent irrevocable notice (a "ConversionCONVERSION/Continuation NoticeCONTINUATION NOTICE") of each conversion of an Alternative Base a Floating Rate Advance into a Eurocurrency Advance or continuation of a Eurocurrency Advance not later than 10:00 a.m. (Detroit Chicago time) at least three four Business Days prior to the date of the requested conversion or continuation, specifying:

Appears in 1 contract

Samples: Assignment Agreement (Gardner Denver Inc)

Conversion and Continuation of Outstanding Advances. Alternative Base Rate ABR Advances shall continue as Alternative Base Rate ABR Advances unless and until such Alternative Base Rate Advances are paid or converted into Eurocurrency Advances pursuant to this Section 2.2.3Fixed Rate Advances. Each Eurocurrency Fixed Rate Advance shall continue as a Eurocurrency Fixed Rate Advance of the same type until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Fixed Rate Advance shall either be paid, or it will automatically be converted into an Alternative Base Rate ABR Advance unless the Borrower shall have given the Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Fixed Rate Advance shall either continue as a Eurocurrency Fixed Rate Advance of a type specified for the same or another Interest Period; provided, that (a) Eurocurrency Advances may not Period or be converted from one Permitted Currency to a different Permitted Currency and (b) Eurocurrency Advances owing in any Optional Currency shall not be automatically converted but shall be due and payable at the end of the relevant Interest Periodinto an ABR Advance. Subject to the terms of Section 2.62.10, the Borrower may elect from time to time to convert all or any part of an Alternative Base Advance of any type into another type of Advance; provided that any conversion of any Fixed Rate Advance into a Eurocurrency Advanceshall be made on, and only on, the last day of the Interest Period applicable thereto. The Borrower shall give the Administrative Agent irrevocable notice (a "Conversion/Continuation Notice") of each conversion of an Alternative Base Rate Advance into a Eurocurrency Advance or continuation of a Eurocurrency Fixed Rate Advance not later than 10:00 11:00 a.m. (Detroit Chicago time) the Business Day, in the case of a conversion into an ABR Advance, at least one Business Day, in the case of a conversion into a Fixed CD Rate Advance or three Business Days Days, in the case of a conversion into or continuation of a Eurodollar Advance, prior to the date of the requested conversion or 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 (iii) the amount and type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a Eurodollar Advance or Fixed CD Rate Advance, the duration of the Interest Period applicable thereto.

Appears in 1 contract

Samples: Credit Agreement (Northern Border Partners Lp)

Conversion and Continuation of Outstanding Advances. Alternative Base Rate Advances shall continue as Alternative Base Rate Advances unless and until such Alternative Base Rate Advances are converted into Eurocurrency Eurodollar Advances pursuant to this Section 2.2.32.9 or are repaid in accordance with Section 2.7. Each Eurocurrency Eurodollar Advance shall continue as a Eurocurrency Eurodollar Advance until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Eurodollar Advance shall either be paid, or it will automatically be converted into an Alternative a Base Rate Advance unless (x) such Eurodollar Advance is or was repaid in accordance with Section 2.7 or (y) the Borrower shall have given the Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Eurodollar Advance shall continue as a Eurocurrency Eurodollar Advance for the same or another Interest Period; provided, that (a) Eurocurrency Advances may not be converted from one Permitted Currency to a different Permitted Currency and (b) Eurocurrency Advances owing in any Optional Currency shall not be automatically converted but shall be due and payable at the end of the relevant Interest Period. Subject to the terms of Section 2.6, the Borrower may elect from time to time to convert all or any part of an Alternative a Base Rate Advance into a Eurocurrency Eurodollar Advance. The Borrower shall give the Agent irrevocable notice (a "Conversion/Continuation Notice") (i) in the form attached hereto as Exhibit E or such other form as may be approved by the Agent, in each case, appropriately completed and signed by an Authorized Officer of the Borrower or (ii) in accordance with Section 2.14, which, when confirmed in writing, shall be in substantially the form attached hereto as Exhibit E or such other form as may be approved by the Agent, in each case, appropriately completed and signed by an Authorized Officer of the Borrower, of each conversion of an Alternative a Base Rate Advance into a Eurocurrency Eurodollar Advance or continuation of a Eurocurrency Eurodollar Advance not later than 10:00 11:00 a.m. (Detroit time) at least three on the third Business Days Day prior to the date of the requested conversion or continuation, specifying:

Appears in 1 contract

Samples: Term Loan Agreement (Enable Midstream Partners, LP)

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