Conversion/Continuation Options. (a) (i) Each Borrower may elect (x) at any time on any Business Day to convert Base Rate Loans or any portion thereof to Eurocurrency Rate Loans or (y) at the end of any Eurocurrency Interest Period applicable to any Loan that is denominated in Dollars, to convert such Loan into a Base Rate Loan, (ii) the U.S. Borrower or the Canadian Borrower may elect (x) at any time on any Business Day to convert Canadian Base Rate Loans to BA Rate Loans or (y) at the end of any BA Interest Period, to convert BA Rate Loans to Canadian Base Rate Loans, (iii) each applicable Borrower may elect at the end of any applicable Interest Period, to continue Eurocurrency Rate Loans or BA Rate Loans or any portion thereof for an additional Interest Period; provided, however, that in the case of clauses (i) and (ii) above the aggregate amount of the Eurocurrency Rate Loans or BA Rate Loans, as the case may be, for each Interest Period shall not be less than the Minimum Currency Threshold. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion. Each such election shall be in substantially the form of Exhibit G and shall be made by giving the Agent prior written notice by 12:00 noon (New York City time) at least three Business Days in advance specifying (A) the amount and type of Loan being converted or continued, (B) in the case of a conversion to or a continuation of Eurocurrency Rate Loans or BA Rate Loans, the applicable Interest Period and (C) in the case of a conversion, the date of such conversion.
Conversion/Continuation Options. Subject to the limitations on the availability of Eurodollar Rate Loans, Borrower may elect from time to time to convert outstanding Revolving Credit Loans from ABR Loans to Eurodollar Rate Loans or to continue any Eurodollar Rate Loan as such upon the expiration of the then current Interest Period thereof by giving the Agent telephonic or written (which may be by electronic mail) notice (the “Notice of Conversion/Continuation”), which Notice of Conversion/Continuation must be received prior to 11:00 a.m., Chicago time, at least three (3) Business Days prior to the requested date for the conversion or continuation, which notice shall specify (i) the date for the conversion or continuation (which shall be a Business Day); (ii) the aggregate amount of ABR Loans to be converted or Eurodollar Rate Loans to be continued; and (iii) for each such ABR Loan to be converted to a Eurodollar Rate Loan and Eurodollar Rate Loan to be continued as a Eurodollar Rate Loan, the respective amount and the respective length of the initial Interest Period. Each conversion from ABR Loans to Eurodollar Rate Loans and each continuation of Eurodollar Rate Loans shall be in the principal amount of $10,000,000 or any larger amount which is an even multiple of $1,000,000. After Borrower gives the Notice of Conversion/Continuation requesting continuation of a Eurodollar Rate Loan, Agent, by 9:00 a.m., Chicago time, two Business Days prior to the end of the Interest Period, shall advise Borrower of the applicable interest rate(s) (which is the sum of the applicable Eurodollar Rate(s) and the Applicable Eurodollar Margin) for the Eurodollar Rate Loan(s) and Interest Period(s) requested in such notice. Not more than two hours thereafter, Borrower shall give Agent written irrevocable confirmation of whether or not Borrower wants to continue the Eurodollar Rate Loan(s) as such and, if so, the amount and the Interest Period for each such Eurodollar Rate Loan. If Borrower’s confirmation is not timely made, Borrower shall be deemed to have withdrawn Borrower’s notice for a continuation and the Eurodollar Rate Loan(s) that were the subject of such request shall convert automatically to an ABR Loan upon the expiration of the then current Interest Period. If Borrower’s written confirmation is timely made, Borrower shall be deemed to be requesting a continuation of the Eurodollar Rate Loan(s) in the amount(s) and for the Interest Period(s) stated in such notice. Agent shall give prompt telephonic ...
Conversion/Continuation Options. (a) The U.S. Borrower may elect (i)(x) at any time on any Business Day to convert Base Rate Loans (other than Swingline Loans) or any portion thereof to Eurocurrency Rate Loans or (y) at the end of any Eurocurrency Interest Period applicable to any Loan that is denominated in Dollars, to convert such Loan into a Base Rate Loan, (ii) at the end of any applicable Interest Period, to continue Eurocurrency Rate Loans or any portion thereof for an additional Interest Period; provided, however, that in the case of clause (i) above the aggregate amount of the Eurocurrency Rate Loans for each Interest Period shall not be less than the Minimum Currency Threshold. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion. Each such election shall be in substantially the form of Exhibit G and shall be made by giving the Agent prior written notice by 12:00 noon (Local Time) at least three Business Days in advance specifying (A) the amount and type of Loan being converted or continued, (B) in the case of a conversion to or a continuation of Eurocurrency Rate Loans, the applicable Interest Period and (C) in the case of a conversion, the date of such conversion.
Conversion/Continuation Options. (a) (i) The Borrower may elect (x) at any time on any Business Day to convert BaseRate Term Loans or any portion thereof to Term SOFR Term Loans or (y) at the end of any InterestPeriod, to convert such Term Loan into a Base Rate Term Loan, and (ii) the Borrower may elect at theend of any applicable Interest Period, to continue Term SOFR Term Loans or any portion thereof for anadditional Interest Period; provided, however, that in the case of clause (i) above the aggregate amountof the Term SOFR Term Loans, for each Interest Period shall not be less than $2,000,000 (in the case ofBase Rate Term Loans) or $5,000,000 (in the case of Term SOFR Term Loans). Each conversion orcontinuation shall be allocated among the Term Loans of each Lender in accordance with such Lender’sRatable Portion. Each such election shall be in substantially the form of Exhibit G and shall be made bygiving the Agent prior written notice by 12:00 noon (New York City time) at least three Business Daysin advance specifying (A) the amount and type of Term Loan being converted or continued, (B) in thecase of a conversion to or a continuation of Term SOFR Term Loans, the applicable Interest Period and(C) in the case of a conversion, the date of such conversion.(b) The Agent shall promptly notify each applicable Lender of its receipt of anInterest Election Request and of the options selected therein. Notwithstanding the foregoing, no (i)conversion in whole or in part of Base Rate Term Loans to Term SOFR Term Loans, or (ii) continuationin whole or in part of Term SOFR Term Loans upon the expiration of any applicable Interest Period, ineach case, shall be permitted at any time at which (A) an Event of Default shall have occurred and becontinuing and the Agent or the Required Lenders shall have determined not to permit such continuationor conversion or (B) the continuation of, or conversion into, a Term SOFR Term Loan would violate anyprovision of Section 2.14(b). If, within the time period required under the terms of this Section 2.12, theAgent does not receive an Interest Election Request from the Borrower containing a permitted election tocontinue any Term SOFR Term Loans for an additional Interest Period or to convert any such TermLoans, then, upon the expiration of the applicable Interest Period, Term Loans shall be automaticallyconverted into Base Rate Term Loans. Each Interest Election Request shall be irrevocable.SECTION 2.13
Conversion/Continuation Options. (a) Borrowers may elect from time to time to convert any of their outstanding Loans to a Loan of another Type and such Loan shall thereafter bear interest as a Base Rate Loan or a LIBORSOFR Rate Loan, as applicable; provided that (i) with respect to any such conversion of a LIBORSOFR Rate Loan to a Base Rate Loan or, if applicable, any such conversion of a SOFR Rate Loan that is a Term SOFR Loan to a Daily Simple SOFR Loan, an Authorized Officer of Parent, on behalf of Borrowers, shall give Administrative Agent a Conversion/Continuation Request with respect to such election at least two (2) Business Days prior written noticeto the requested date of such electionconversion, in the form of Exhibit F, and such conversion shall only be made on (X) the last day of the Interest Period with respect to any SOFR Rate Loan that is a Term SOFR Loan, or (Y) the applicable Interest Payment Date with respect to any such LIBORSOFR Rate Loan that is a Daily Simple SOFR Loan; (ii) with respect to any such conversion of a Base Rate Loan to a LIBORSOFR Rate Loan of any Type or, if applicable, any such conversion of a SOFR Rate Loan that is a Daily Simple SOFR Loan to a Term SOFR Loan (provided that such conversion shall only be made on the applicable Interest Payment Date with respect to such Daily Simple SOFR Loan), an Authorized Officer of Parent, on behalf of Borrowers, shall give Administrative Agent a Conversion/Continuation Request with respect to such election at least three (3) LIBORSOFR Business Days prior written notice ofto the requested date such electionconversion, in the form of Exhibit F, and the Interest Period requested for such Loan, the principal amount of the Loan so converted shall be in a minimum aggregate amount of $500,000.00 or an integral multiple of $100,000.00 in excess thereof and, after giving effect to the making of such Loan, there shall be no more than ten (10) LIBORSOFR Rate Loans outstanding at any one time; and (iii) no Loan may be converted into a LIBORSOFR Rate Loan when any Default or Event of Default has occurred and is continuing. All or any part of the outstanding Loans of any Type may be converted as provided herein, provided that each partial conversion shall result in a Base Rate Loan in a principal amount of not less than $500,000.00 or an integral multiple of $100,000.00 in excess thereof or a LIBORSOFR Rate Loan in a principal amount of not less than $500,000.00 or an integral multiple of $100,000.00 in excess thereof. On the d...
