Conversion and Renewal of Loans Sample Clauses

Conversion and Renewal of Loans. Providing that no Event of Default shall have occurred and be continuing, the Borrower may elect to renew or convert Applicable Interest Rates applicable to Advances from the Prime-based Rate to the Eurodollar-based Rate or from the Eurodollar-based Rate to the Prime-based Rate, provided that any conversion of a Eurodollar-based Loan shall be made only on the last Business Day of the Interest Period applicable to such Eurodollar-based Loan. If the Borrower desires such a renewal or conversion, it shall give Bank not less than three (3) Business Days' prior notice in the manner provided in Section 2.2 hereof, specifying the date of such renewal or conversion, the Advances to be converted and the type of Advances elected. If with respect to any Eurodollar-based Loan outstanding at any time the Bank does not receive notice of the election from a Borrower not less than three (3) Business Days prior to the last day of the Interest Period therefor, the Borrower shall be deemed to have elected to convert such Eurodollar-based Loan to a Prime-based Loan at the end of the then current Interest Period unless such Eurodollar-based Loan is repaid upon the last day of such Interest Period.
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Conversion and Renewal of Loans. Providing that no Event of Default shall have occurred and be continuing each outstanding Advance may be either paid or renewed or converted into another Advance, in each case as of the last day of its Interest Period for the Advance being paid, renewed or converted; provided that any conversion of a Eurodollar-based Loan shall be made only on the last Business Day of the Interest Period applicable thereto unless the Company pays the prepayment costs required under Section 4.7 hereof. Company may select the Applicable Interest Rates and Interest Periods for such renewals and conversions of Advance by giving the Bank not less than three (3) Business Days' prior notice in the manner provided in Section 2.4 hereof, specifying the date of such renewal or conversion, the Advances to be converted, the type of Advance elected and, the duration of the Interest Period therefor. The Bank does not receive notice of the election three (3) or more Business Days prior to the last day of the Interest Period for any Advance, Company shall be deemed to have elected to convert such Advance to a Prime-based Advance at the end of the then current Interest Period.
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Conversion and Renewal of Loans. Providing that no Event of Default shall have occurred and be continuing each outstanding Loan may be either paid or renewed or converted into another Loan, in each case as of the last day of its Interest Period for the Advance being paid, renewed or converted; provided that any conversion of a Eurocurrency based Loan shall be made only on the last Business Day of the Interest Period applicable thereto unless the Borrower pays the prepayment costs required under Section 5.1 hereof; provided, however, that each conversion or renewal of an Advance made in Alternative Currency shall be made with a new Advance in the same Alternative Currency. Eurocurrency-based Rates may be selected only for portions of Loans which are an amount of Two Million Dollars ($2,000,000) or greater integral multiples of One Hundred Thousand Dollars ($100,000). The Borrowers may select the Applicable Interest Rate and Interest Periods for such renewals and conversions by giving the Agent not less than three (3) Business Days' prior notice in the manner provided in Section 2.5 hereof, specifying the date of such renewal or conversion, the Advances to be converted, the type of Advance elected and, the duration of the Interest Period therefor. The Agent shall promptly notify each Bank of each such request by wire, telex or telephone (including facsimile transmission, confirmed by wire or telex) specifying the date of such renewal or conversion, the Advance to be converted, the type of Advance elected, the Applicable Interest Rate, the duration of the Interest Period therefor and each Percentage of such Advance. If with respect to any Advance outstanding at any time, the Agent does not receive notice of the election three (3) or more Business Days prior to the last day of the Interest Period therefor Borrower shall be deemed to have elected to convert such Advance to a Prime-based Loan at the end of the then current Interest Period.
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Conversion and Renewal of Loans. Providing that no Event of Default shall have occurred, the Borrower may elect to renew or convert Applicable Interest Rates applicable to the Revolving Loan from the Prime-based Rate, Floating Rate or Eurodollar-based Rate to any other of said Rates; provided that the Borrower pays the prepayment costs required under Section 4.1 hereof, if applicable. Eurodollar-based Rates may be selected only for portions of the Revolving Loan which are in an amount of One Million Dollars ($1,000,000) or a greater integral multiple of Five Hundred Thousand Dollars ($500,000). The Borrower may select the Applicable Interest Rate and Interest Periods for such renewals and conversions by giving the Bank not less than three (3) Business Days’ prior notice in the manner provided in Section 2.3 hereof, specifying the date of such renewal or conversion, the Revolving Loans to be converted, the type of Revolving Loan elected and the duration of the Interest Period therefor. If with respect to any Revolving Loan outstanding at any time, the Bank does not receive notice of the election three (3) or more Business Days prior to the last day of the Interest Period therefor Borrower shall be deemed to have elected to convert such Revolving Loan to a Prime-based Loan at the end of the then current Interest Period.
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Conversion and Renewal of Loans. Providing that no Event of Default shall have occurred and be continuing, the Borrowers may elect to renew or convert any Advance into another type of Advance, provided that any conversion of a Eurodollar-based Loan shall be made only on the last Business Day of the Interest Period applicable to such Eurodollar-based Loan. If the Borrowers desire to renew or convert an Advance, they shall give Bank not less than three (3) Business Days' prior notice in the manner provided in Section 2.3 hereof, specifying the date of such renewal or conversion, the Advances to be converted and the type of Advance elected. If with respect to any Eurodollar-based Loan outstanding at any time the Bank does not receive notice of the election from a Borrower not less than three (3) Business Days prior to the last day of the Interest Period therefor, such Borrower shall be deemed to have elected to convert such Eurodollar-based Loan to a Prime-based Loan at the end of the then current Interest Period unless such Eurodollar-based Loan is repaid upon the last day of such Interest Period.
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Conversion and Renewal of Loans. Providing that no Event of Default shall have occurred and be continuing, Borrower may elect to renew or convert the Applicable Interest Rate applicable to the Line of Credit Loans from the Prime-based Rate to the Eurodollar-based Rate or from the Eurodollar-based Rate to the Prime-based Rate; provided that a Request for Loan requesting such renewal or conversion in compliance with Section 2.2 hereof is delivered to Bank in conformity with the requirements of such Section. If with respect to any Eurodollar-based Loan outstanding at any time, the Bank does not receive notice of the election three (3) or more Business Days prior to the last day of the Interest Period therefor, Borrower shall be deemed to have elected to convert such Eurodollar-based Loan at the end of the then current Interest Period to a Prime-based Loan.
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Related to Conversion and Renewal of Loans

  • Extension and Conversion Subject to the terms of Section 5.2, the Borrower shall have the option, on any Business Day, to extend existing Loans into a subsequent permissible Interest Period or to convert Loans into Loans of another interest rate type; provided, however, that (i) except as provided in Section 3.8, Eurodollar Loans may be converted into Base Rate Loans only on the last day of the Interest Period applicable thereto, (ii) Eurodollar Loans may be extended, and Base Rate Loans may be converted into Eurodollar Loans, only if no Default or Event of Default is in existence on the date of extension or conversion, (iii) Loans extended as, or converted into, Eurodollar Loans shall be subject to the terms of the definition of "

  • Conversion and Continuation of Revolving Loans The Borrower shall have the right, subject to the terms and conditions of this Agreement, to (i) Convert all or a portion of the outstanding principal amount of Loans of one Type made to it into a Borrowing or Borrowings of another Type of Loans that can be made to it pursuant to this Agreement and (ii) Continue a Borrowing of Eurodollar Loans at the end of the applicable Interest Period as a new Borrowing of Eurodollar Loans with a new Interest Period; provided, however, that any Conversion of Eurodollar Loans into Base Rate Loans shall be made on, and only on, the last day of an Interest Period for such Eurodollar Loans.

  • Conversion and Continuation of Loans The Lead Borrower on behalf of the Borrowers shall have the right at any time,

  • Modification, Extension and Renewal of Options The Board or a duly appointed committee thereof, may modify, extend or renew this Option or accept the surrender thereof (to the extent not theretofore exercised) and authorize the granting of a new option in substitution therefore (to the extent not theretofore exercised), subject at all times to the Code and applicable securities laws. Notwithstanding the foregoing provisions of this Section 12, no modification shall, without the consent of the Recipient, alter to the Recipient’s detriment or impair any rights of Recipient hereunder.

  • Continuation and Conversion of Loans Subject to the terms and conditions of this Agreement, the Borrower may borrow the Loans as Base Rate Loans or Eurodollar Loans and, until the applicable Maturity Date, the Borrower may Continue Eurodollar Loans or Convert Loans of one Type into Loans of the other Type.

  • Conversion and Continuation of Borrowings The Borrower shall have the right at any time upon prior irrevocable notice to the Administrative Agent (a) not later than 12:00 (noon), New York City time, one Business Day prior to conversion, to convert any Eurodollar Borrowing into an ABR Borrowing, (b) not later than 12:00 (noon), New York City time, three Business Days prior to conversion or continuation, to convert any ABR Borrowing into a Eurodollar Borrowing or to continue any Eurodollar Borrowing as a Eurodollar Borrowing for an additional Interest Period, and (c) not later than 12:00 (noon), New York City time, three Business Days prior to conversion, to convert the Interest Period with respect to any Eurodollar Borrowing to another permissible Interest Period, subject in each case to the following:

  • Conversion of Loans Borrower may convert any Loan from one Type of Loan to another Type; provided, however, that (i) any conversion of LIBOR Loans into Base Rate Loans shall be made on, and only on, the first day after the last day of an Interest Period for such LIBOR Loans, and (ii) Loans shall be converted only in amounts of $10,000,000 and increments of $1,000,000 in excess thereof. Borrower shall request such a conversion by a written notice to Administrative Agent in the form of Exhibit C-2, appropriately completed (a “Notice of Conversion of Loan Type”), which specifies:

  • Issuance, Amendment and Renewal of Letters of Credit (a) Each Letter of Credit shall be issued upon the irrevocable written request of the Company received by the Issuing Bank (with a copy sent by the Company to the Agent) at least three days (or such shorter time as the Issuing Bank may agree in a particular instance in its sole discretion) prior to the proposed date of issuance. Each such request for issuance of a Letter of Credit shall be by facsimile, confirmed immediately in an original writing, in the form of an L/C Application, and shall specify in form and detail satisfactory to the Issuing Bank: (i) the proposed date of issuance of the Letter of Credit (which shall be a Business Day); (ii) the face amount of the Letter of Credit; (iii) the expiry date of the Letter of Credit; (iv) the name and address of the beneficiary thereof; (v) the documents to be presented by the beneficiary of the Letter of Credit in case of any drawing thereunder; (vi) the full text of any certificate to be presented by the beneficiary in case of any drawing thereunder; and (vii) such other matters as the Issuing Bank may require.

  • Conversion and Continuation Options (a) The Borrower or any Subsidiary Borrower may elect from time to time to convert Eurocurrency Loans to ABR Loans by giving the Administrative Agent prior irrevocable notice of such election no later than 11:00 A.M., New York City time, on the Business Day preceding the proposed conversion date, provided that any such conversion of Eurocurrency Loans may only be made on the last day of an Interest Period with respect thereto. The Borrower or any Subsidiary Borrower may elect from time to time to convert ABR Loans to Eurocurrency Loans by giving the Administrative Agent prior irrevocable notice of such election no later than 12:00 Noon, New York City time, on the third Business Day preceding the proposed conversion date (which notice shall specify the length of the initial Interest Period therefor), provided that no ABR Loan under a particular Facility may be converted into a Eurocurrency Loan when any Event of Default has occurred and is continuing and the Administrative Agent or the Majority Facility Lenders in respect of such Facility have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.

  • Optional Conversion of Revolving Credit Advances The Borrower may on any Business Day, upon notice given to the Agent not later than 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.07 and 2.11(a), Convert all Revolving Credit Advances of one Type comprising the same Borrowing into Revolving Credit Advances of the other Type (it being understood that such Conversion of a Revolving Credit Advance or of its Interest Period does not constitute a repayment or prepayment of such Revolving Credit Advance); provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Revolving Credit Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall be substantially in the form of Exhibit H hereto, and shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Revolving Credit Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Eurodollar Rate Advance. Each notice of Conversion shall be irrevocable and binding on the Borrower.

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