Common use of Conversion and Continuation Clause in Contracts

Conversion and Continuation. (a) With respect to the principal amount of the Loans outstanding from time to time, subject to the terms and provisions of this Agreement, the Company shall have the option, to (a) convert on any Business Day all or any part of such outstanding principal amount maintained as a Prime Rate Loan at such time to a LIBOR Loan; provided, however, that each such LIBOR Loan shall be in a principal amount greater than or equal to $250,000 or an integral multiple of $250,000 in excess thereof, (b) convert all or any part of such outstanding principal amount maintained as a LIBOR Loan to a Prime Rate Loan on the last day of the Rate Period relating to such LIBOR Loan, or (c) effective as of the last day of any Rate Period during which the outstanding principal amount of a Loan is maintained as a LIBOR Loan, continue all or a portion of such outstanding principal amount as a LIBOR Loan and the succeeding Rate Period of each such continued LIBOR Loan shall commence on the last day of the Rate Period then ended; provided, however, that each such continued LIBOR Loan shall be in a principal amount greater than or equal to $250,000 or an integral multiple of $250,000 in excess thereof. Notwithstanding anything set forth herein, none of the outstanding principal amount of the Loans shall be converted to, or continued as, a LIBOR Loan if (y) the last day of the Rate Period relating to such LIBOR Loan does not occur on or before the Termination Date or (z) a Default or an Event of Default has occurred and is continuing. (b) In the event the Company shall elect to convert or continue all or any part of the outstanding principal amount of a Loan as provided in the immediately preceding Subsection 2.12 (a) the Company shall deliver a written notice to the Agent (each such notice, a "Notice of Conversion or Continuation")

Conversion and Continuation. (a) With respect to the principal amount of the Loans outstanding from time to time, subject to the terms and provisions of this Agreement, the Company shall have the option, to (a) convert on any Business Day all or any part of such outstanding principal amount maintained as a Prime Rate Loan at such time to a LIBOR Loan; provided, however, that each such LIBOR Loan shall be in a principal amount greater than or equal to $250,000 1,000,000 or an integral multiple of $250,000 500,000 in excess thereof, (b) convert all or any part of such outstanding principal amount maintained as a LIBOR Loan to a Prime Rate Loan on the last day of the Rate Period relating to such LIBOR Loan, or (c) effective as of the last day of any Rate Period during which the outstanding principal amount of a Loan is maintained as a LIBOR Loan, continue all or a portion of such outstanding principal amount as a LIBOR Loan and the succeeding Rate Period of each such continued LIBOR Loan shall commence on the last day of the Rate Period then ended; provided, however, that each such continued LIBOR Loan shall be in a principal amount greater than or equal to $250,000 1,000,000 or an integral multiple of $250,000 500,000 in excess thereof. Notwithstanding anything set forth herein, none of the outstanding principal amount of the Loans shall be converted to, or continued as, a LIBOR Loan if (y) the last day of the Rate Period relating to such LIBOR Loan does not occur on or before the Termination Date or (z) a Default or an Event of Default has occurred and is continuing. (b) In the event the Company shall elect to convert or continue all or any part of the outstanding principal amount of a Loan as provided in the immediately preceding Subsection 2.122.11 (a) the Company shall deliver a written notice to the Agent (each such notice, a "Notice of Conversion or Continuation")

Conversion and Continuation. (a) With respect to the principal amount of the Loans outstanding from time to time, subject to the terms and provisions of this Agreement, the Company shall have the option, to (a) convert on any Business Day all or any part of such outstanding principal amount maintained as a Prime Rate Loan at such time to a LIBOR Loan; provided, however, that each such LIBOR Loan shall be in a principal amount greater than or equal to $250,000 1,000,000 or an integral multiple of $250,000 500,000 in excess thereof, (b) convert all or any part of such outstanding principal amount maintained as a LIBOR Loan to a Prime Rate Loan on the last day of the Rate Period relating to such LIBOR Loan, or (c) effective as of the last day of any Rate Period during which the outstanding principal amount of a Loan is maintained as a LIBOR Loan, continue all or a portion of such outstanding principal amount as a LIBOR Loan and the succeeding Rate Period of each such continued LIBOR Loan shall commence on the last day of the Rate Period then ended; provided, however, that each such continued LIBOR Loan shall be in a principal amount greater than or equal to $250,000 1,000,000 or an integral multiple of $250,000 500,000 in excess thereof. Notwithstanding anything set forth herein, none of the outstanding principal amount of the Loans shall be converted to, or continued as, a LIBOR Loan if (y) the last day of the Rate Period relating to such LIBOR Loan does not occur on or before the Termination Date or (z) a Default or an Event of Default has occurred and is continuing. (b) In the event the Company shall elect to convert or continue all or any part of the outstanding principal amount of a Loan as provided in the immediately preceding Subsection 2.12 (a) the Company shall deliver a written notice to the Agent (each such notice, a "Notice of Conversion or Continuation")

Conversion and Continuation. (a) With At least three Business Days prior to the expiration of each Interest Period for a Eurodollar Loan, Borrower shall notify Lender of the requested duration of the succeeding Interest Period unless Borrower shall have given a timely Notice of Conversion with respect to such Eurodollar Loan pursuant to paragraph (b) of this Section 2.03 or unless Borrower shall have given notice of its intention to prepay such Eurodollar Loan on or before the principal amount first day of any such succeeding Interest Period. If Borrower fails to timely notify Lender of the Loans outstanding from time desired duration of the Interest Period succeeding an expiring Interest Period for a Eurodollar Loan, or to timetimely give notice of a conversion or a notice of prepayment of such Loan, subject it shall be deemed to have requested a one-month duration for such succeeding Interest Period; provided that (i) no Eurodollar Loan may be continued as such when an Event of Default has occurred and is continuing and (ii) if such continuation is not permitted pursuant to the terms and provisions of this Agreementpreceding clause (i), the Company shall have the option, to (a) convert on any Business Day all or any part of such outstanding principal amount maintained as a Prime Rate Loan at such time to a LIBOR Loan; provided, however, that each such LIBOR Eurodollar Loan shall be in a principal amount greater than or equal to $250,000 or an integral multiple of $250,000 in excess thereof, (b) convert all or any part of such outstanding principal amount maintained as a LIBOR Loan automatically converted to a Prime Base Rate Loan on the last day of the Rate Period relating then expiring Interest Period. (b) Borrower may elect from time to such LIBOR Loantime to convert Loans from one Type to the other Type, or by delivering to Lender a Notice of Conversion (cwhich Notice to be effective on the requested conversion date (a “Conversion Date”) effective as must be received by Lender by the time prescribed in Section 2.02 for receipt of a Notice of Borrowing for a Loan of the last day Type being converted to); provided that (i) any such conversion of any Rate Period during which the outstanding principal amount of a Loan is maintained as a LIBOR Loan, continue all or a portion of such outstanding principal amount as a LIBOR Loan and the succeeding Rate Period of each such continued LIBOR Loan shall commence Eurodollar Loans may only be made on the last day of the an Interest Period with respect thereto, and (ii) no Base Rate Period then ended; provided, however, that each such continued LIBOR Loan shall be in a principal amount greater than or equal to $250,000 or an integral multiple of $250,000 in excess thereof. Notwithstanding anything set forth herein, none of the outstanding principal amount of the Loans shall may be converted to, or continued as, into a LIBOR Eurodollar Loan if (y) the last day of the Rate Period relating to such LIBOR Loan does not occur on or before the Termination Date or (z) a Default or when an Event of Default has occurred and is continuing. (b) In the event the Company shall elect to convert or continue all or any part of the outstanding principal amount of a Loan as provided in the immediately preceding Subsection 2.12 (a) the Company shall deliver a written notice to the Agent (each such notice, a "Notice of Conversion or Continuation")