Common use of Conversion and Continuation Clause in Contracts

Conversion and Continuation. (i) The Company may elect from time to time, subject to the provisions of Sections 2.3(a), 2.9 and 2.10 and the Lending Sublimits to convert all or any part of any Advance into a different type of Advance, provided that any conversion of any Eurodollar Advance shall be made on, and only on, the last day of the applicable Eurodollar Interest Period. (ii) Alternate Base Rate Advances shall continue as the same type of Advances unless and until such Advances are converted into a different form of Advance in accordance with the terms hereof. Federal Funds Advances shall continue as Federal Funds Advances unless and until (a) such Advances are converted into a different form of Advance in accordance with the terms hereof or (b) the Company has paid any such Federal Funds Advance prior to 10:00 a.m. (Chicago time) on any Business Day or given the Agent written notice before 10:00 a.m. (Chicago time) on any Business Day that such Federal Funds Advance will be repaid on such Business Day. If the Company so notifies the Agent that it will be paying a Federal Funds Advance on any Business Day and fails to do so, such Advance shall be converted into an Alternate Base Rate Advance. Eurodollar Advances shall continue until the end of the then-applicable Eurodollar Interest Period therefor, at which time each such Advance shall be automatically converted to a Federal Funds Advance, unless the Company shall have given the Agent notice in accordance with Section 2.12(iii) requesting that, at the end of such Eurodollar Interest Period, such Advance continue as a Eurodollar Advance for a specified Eurodollar Interest Period or be converted to a different type of Advance. (iii) The Company shall give the Agent irrevocable notice (a "Conversion/Continuation Notice") of each conversion of an Alternate Base Rate Advance or a Federal Funds Advance, or conversion or continuation of a Eurodollar Advance, not later than (i) 10:00 a.m. (Chicago time) on the date of the requested conversion or continuation, in the case of a conversion into a Federal Funds Advance or Alternate Base Rate Advance, or (ii) 11:00 a.m. (Chicago

Conversion and Continuation. (i) The Company may elect from time to time, subject to the provisions of Sections 2.3(a), 2.9 and 2.10 and the Lending Sublimits to convert all or any part of any Advance (other than a Bid Loan or Discount Advance) into a different type of Advance, provided that any conversion of any such Eurodollar Advance shall be made on, and only on, the last day of the applicable Eurodollar Interest Period. Discount Advances and Bid Loans are payable on the last day of the applicable Discount Loan Period or Bid Loan period and may be repaid out of new Advances hereunder but may not be converted directly to a different type of Advance. (ii) Alternate Base Rate Advances shall continue as the same type of Advances unless and until such Advances are converted into a different form of Advance in accordance with the terms hereof. Federal Funds Advances shall continue as Federal Funds Advances unless and until (a) such Advances are converted into a different form of Advance in accordance with the terms hereof or (b) the Company has paid any such Federal Funds Advance prior to 10:00 a.m. (Chicago time) on any Business Day or given the Agent written notice before 10:00 a.m. 10:00 a. m. (Chicago time) on any Business Day that such Federal Funds Advance will be repaid on such Business Day. Overnight Transaction Advances and Swingline Buydown Advances shall continue as Overnight Transaction Advances and Swingline Buydown Advances, respectively, unless and until (a) such Advances are converted into a different form of Advance in accordance with the terms hereof or (b) the Company or a Borrowing Subsidiary, as applicable, has paid any such Overnight Transaction Advance or Swingline Buydown Advance prior to 3:00 p.m. (Chicago time) on any Business Day or given the Agent written notice before 3:00 p.m. (Chicago time) on any Business Day that such Overnight Transaction Advance or Swingline Buydown Advance will be repaid on such Business Day. If the Company so notifies the Agent that it will be paying a Federal Funds Advance, Overnight Transaction Advance or Swingline Buydown Advance on any Business Day and fails to do so, such Advance shall be converted into an Alternate Base Rate Advance. Eurodollar Advances shall continue until the end of the then-applicable Eurodollar Interest Period therefor, at which time each such Advance shall be automatically converted to a Federal Funds Advance, unless the Company shall have given the Agent notice in accordance with Section 2.12(iii) requesting that, at the end of such Eurodollar Interest Period, such Advance continue as a Eurodollar Advance for a specified Eurodollar Interest Period or be converted to a different type of Advance. (iii) The Company shall give the Agent irrevocable notice (a "Conversion/Continuation Notice") of each conversion of an Alternate Base Rate Advance or Advance, a Federal Funds Advance, a Swingline Buydown Advance or an Overnight Transaction Advance or conversion or continuation of a Eurodollar Advance, Advance not later than (i) 10:00 a.m. (Chicago time) on the date of the requested conversion or continuation, in the case of a conversion into a Federal Funds Advance or Advance, Alternate Base Rate Advance, Overnight Transaction Advance or Swingline Buydown Advance, or (ii) 11:00 a.m. (ChicagoChicago time) at least three Business Days prior to the date of the requested conversion into or continuation of a Eurodollar Loan, specifying: (1) the requested date (which shall be a Business Day) of such conversion or continuation; (2) the amount and type of the Advance to be converted or continued; (3) the amount and type(s) of Advance(s) into which such Advance is to be converted or continued; and

Conversion and Continuation. (i) The Company may elect from time to time, subject to the provisions of Sections 2.3(a), 2.9 and 2.10 and the Lending Sublimits to convert all or any part of any Advance (other than a Bid Loan or Discount Advance) into a different type of Advance, provided that any conversion of any such Eurodollar Advance shall be made on, and only on, the last day of the applicable Eurodollar Interest Period. Discount Advances and Bid Loans are payable on the last day of the applicable Discount Loan Period or Bid Loan period and may be repaid out of new Advances hereunder but may not be converted directly to a different type of Advance. (ii) Alternate Base Rate Advances shall continue as the same type of Advances unless and until such Advances are converted into a different form of Advance in accordance with the terms hereof. Federal Funds Advances shall continue as Federal Funds Advances unless and until (a) such Advances are converted into a different form of Advance in accordance with the terms hereof or (b) the Company has paid any such Federal Funds Advance prior to 10:00 a.m. (Chicago time) on any Business Day or given the Agent written notice before 10:00 a.m. (Chicago time) on any Business Day that such Federal Funds Advance will be repaid on such Business Day. Overnight Transaction Advances and Swingline Buydown Advances shall continue as Overnight Transaction Advances and Swingline Buydown Advances, respectively, unless and until (a) such Advances are converted into a different form of Advance in accordance with the terms hereof or (b) the Company has paid any such Overnight Transaction Advance or Swingline Buydown Advance prior to 3:00 p.m. (Chicago time) on any Business Day or given the Agent written notice before 3:00 p.m. (Chicago time) on any Business Day that such Overnight Transaction Advance or Swingline Buydown Advance will be repaid on such Business Day. If the Company so notifies the Agent that it will be paying a Federal Funds Advance, Overnight Transaction Advance or Swingline Buydown Advance on any Business Day and fails to do so, such Advance shall be converted into an Alternate Base Rate Advance. Eurodollar Advances shall continue until the end of the then-applicable Eurodollar Interest Period therefor, at which time each such Advance shall be automatically converted to a Federal Funds Advance, unless the Company shall have given the Agent notice in accordance with Section 2.12(iii) requesting that, at the end of such Eurodollar Interest Period, such Advance continue as a Eurodollar Advance for a specified Eurodollar Interest Period or be converted to a different type of Advance. (iii) The Company shall give the Agent irrevocable notice (a "Conversion/Continuation Notice") of each conversion of an Alternate Base Rate Advance or Advance, a Federal Funds Advance, a Swingline Buydown Advance or an Overnight Transaction Advance or conversion or continuation of a Eurodollar Advance, Advance not later than (i) 10:00 a.m. (Chicago time) on the date of the requested conversion or continuation, in the case of a conversion into a Federal Funds Advance or Advance, Alternate Base Rate Advance, Overnight Transaction Advance or Swingline Buydown Advance, or (ii) 11:00 a.m. (ChicagoChicago time) at least three Business Days prior to the date of the requested conversion into or continuation of a Eurodollar Loan, specifying: (1) the requested date (which shall be a Business Day) of such conversion or continuation; (2) the amount and type of the Advance to be converted or continued; (3) the amount and type(s) of Advance(s) into which such Advance is to be converted or continued; and