Conversion/Continuation. (i) Subject to Section 2.6 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower shall have the option: (a) to convert at any time all or any part of any Borrowing, in an amount equal to $5,000,000 or a higher integral multiple of $1,000,000, from one Type of Loan to the other Type of Loan; provided that LIBOR Loans may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans unless the Borrower shall pay all amounts due under Section 2.6 in connection with such conversion; or (b) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR Loans, to continue all or any portion of such Borrowing in an amount equal to $5,000,000 or a higher integral multiple of $1,000,000 as LIBOR Loans for a new Interest Period. (ii) The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 a.m. at least one Business Day in advance of the proposed conversion date (in the case of a conversion to Base Rate Loans) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of conversion to, or continuation of, LIBOR Loans). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, LIBOR Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 5 contracts
Sources: Term Loan Agreement (Assurant Inc), Credit Agreement (Assurant Inc), Credit Agreement (Assurant Inc)
Conversion/Continuation. (ia) Subject to Section 2.6 2.18 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower Borrowers shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Term Loan or Revolving Loan equal to $5,000,000 or a higher 1,000,000 and integral multiple multiples of $1,000,000, 500,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided that LIBOR Loans provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Eurodollar Rate Loan unless the Borrower Borrowers shall pay all amounts due under Section 2.6 2.18 in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansEurodollar Rate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher 1,000,000 and integral multiple multiples of $1,000,000 500,000 in excess of that amount as LIBOR Loans for a new Interest PeriodEurodollar Rate Loan.
(iib) The relevant Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, LIBOR Loansa Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, LIBOR any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 4 contracts
Sources: Amendment Agreement (Education Management Corporation), Credit and Guaranty Agreement (AID Restaurant, Inc.), Credit and Guaranty Agreement (Education Management LLC)
Conversion/Continuation. (ia) Subject to Section 2.6 2.17 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Term Loan or Revolving Loan equal to $5,000,000 or a higher 3,000,000 and integral multiple multiples of $1,000,000, 1,000,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided that LIBOR Loans that, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Eurodollar Rate Loan unless the Borrower shall pay all amounts due under Section 2.6 2.17 in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansEurodollar Rate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher 3,000,000 and integral multiple multiples of $1,000,000 in excess of that amount as LIBOR Loans for a new Interest PeriodEurodollar Rate Loan.
(iib) The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three Business Days in advance of the proposed conversion/conversion or continuation date (in the case of a conversion to, or a continuation of, LIBOR Loansa Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, LIBOR any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 3 contracts
Sources: Credit Agreement (Regal Entertainment Group), Credit Agreement (Regal Entertainment Group), Credit Agreement (Regal Entertainment Group)
Conversion/Continuation. (ia) Subject to Section 2.6 and so So long as no Potential Event of Default or Event of Default shall have occurred and then be continuingcontinuing or would result therefrom, the Borrower shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Loan equal to $5,000,000 or a higher 1,000,000 and integral multiple multiples of $1,000,000, 100,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided that provided, an Adjusted LIBOR Loans Rate Loan may only be converted on the expiration of the Interest Period applicable to such Adjusted LIBOR Loans Rate Loan unless the Borrower shall pay all amounts due under Section 2.6 3.1(c) in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of Adjusted LIBOR LoansRate Loan, to continue all or any portion of such Borrowing in Loan as an amount equal to $5,000,000 or a higher integral multiple of $1,000,000 as Adjusted LIBOR Loans for a new Interest PeriodRate Loan.
(iib) The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 a.m. 1:00 p.m. at least one Business Day in advance of the proposed conversion date (in the case of a conversion to Base Rate Loansi) and at least three (3) Business Days in advance of the proposed conversionConversion/continuation date (Continuation Date in the case of a conversion to, of one or more Base Rate Loans to LIBOR Loans or a continuation of, of one or more LIBOR Loans)Loans and (ii) one (1) Business Day in advance in the case of any other continuations or conversions. Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Adjusted LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 3 contracts
Sources: Credit Agreement (Computer Programs & Systems Inc), Credit Agreement (Computer Programs & Systems Inc), Credit Agreement (Computer Programs & Systems Inc)
Conversion/Continuation. (ia) Subject to Section 2.6 2.17 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower Company shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Term Loan or Revolving Loan equal to $5,000,000 or a higher 250,000 and integral multiple multiples of $1,000,000, 100,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided that LIBOR Loans provided, a LIBO Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans LIBO Rate Loan unless the Borrower Company shall pay all amounts due under Section 2.6 2.17 in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansLIBO Rate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher 250,000 and integral multiple multiples of $1,000,000 100,000 in excess of that amount as LIBOR Loans for a new Interest PeriodLIBO Rate Loan.
(iib) The Borrower Subject to Section 3.2(b), Company shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, LIBOR Loansa LIBO Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, LIBOR any LIBO Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower Company shall be bound to effect a conversion or continuation in accordance therewith. If on any day a Loan is outstanding with respect to which a Funding Notice or Conversion/Continuation Notice has not been delivered to Administrative Agent in accordance with the terms hereof specifying the applicable basis for determining the rate of interest, then, for that day, such Loan shall be a Base Rate Loan.
Appears in 3 contracts
Sources: Credit and Guaranty Agreement (ONE Group Hospitality, Inc.), Credit and Guaranty Agreement (ONE Group Hospitality, Inc.), Credit and Guaranty Agreement (ONE Group Hospitality, Inc.)
Conversion/Continuation. (ia) Subject to Section 2.6 2.17 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Term Loan equal to $5,000,000 or a higher and integral multiple multiples of $1,000,000, 1,000,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided provided, that a LIBOR Loans Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Rate Loan unless the Borrower shall pay all amounts due under Section 2.6 2.17 in connection with any such conversion; , or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansRate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher and integral multiple multiples of $1,000,000 in excess of that amount as a LIBOR Loans for a new Interest PeriodRate Loan.
(iib) The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 a.m. noon (New York time) at least one two Business Day Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR LoansRate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 2 contracts
Sources: Credit Agreement (Liberty Tax, Inc.), Credit Agreement (Franchise Group, Inc.)
Conversion/Continuation. (ia) Subject to Section 2.6 2.17 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower Companies shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Term Loan or Revolving Loan equal to $5,000,000 or a higher 500,000 and integral multiple multiples of $1,000,000, 100,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided that provided, a LIBOR Loans Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Rate Loan unless the Borrower Companies shall pay all amounts due under Section 2.6 2.17 in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansRate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher 500,000 and integral multiple multiples of $1,000,000 100,000 in excess of that amount as a LIBOR Loans for a new Interest PeriodRate Loan.
(iib) The Borrower Company Representative shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three Business Days in advance of the proposed conversionConversion/continuation date Continuation Date (in the case of a conversion to, or a continuation of, a LIBOR LoansRate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower Companies shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 2 contracts
Sources: Credit and Guaranty Agreement (Meridian Waste Solutions, Inc.), Credit and Guaranty Agreement (Meridian Waste Solutions, Inc.)
Conversion/Continuation. (ia) Subject to Section 2.6 2.15 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Loan equal to $5,000,000 or a higher 1,000,000 and integral multiple multiples of $1,000,000, 500,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided that LIBOR Loans provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Eurodollar Rate Loan unless the Borrower shall pay all amounts due under Section 2.6 2.15 in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansEurodollar Rate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher 1,000,000 and integral multiple multiples of $1,000,000 500,000 in excess of that amount as LIBOR Loans for a new Interest PeriodEurodollar Rate Loan.
(iib) The Subject to Section 3.2(b), Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, LIBOR Loansa Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, LIBOR any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith. If on any day a Loan is outstanding with respect to which a Funding Notice or Conversion/Continuation Notice has not been delivered to Administrative Agent in accordance with the terms hereof specifying the applicable basis for determining the rate of interest, then for that day such Loan shall be a Base Rate Loan.
Appears in 2 contracts
Sources: Credit and Guaranty Agreement (Hamilton Lane INC), Credit and Guaranty Agreement (Hamilton Lane INC)
Conversion/Continuation. (ia) Subject to Section 2.6 2.18 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuingcontinuing and no demand for payment of any Obligations has been made, the Borrower shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Loan equal to $5,000,000 or a higher 1,000,000 and integral multiple multiples of $1,000,000, 500,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided that a LIBOR Loans Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Rate Loan unless the Borrower shall pay all amounts due under Section 2.6 2.18 in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansRate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher 1,000,000 and integral multiple multiples of $1,000,000 500,000 in excess of that amount as a LIBOR Loans for a new Interest PeriodRate Loan.
(iib) The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 10:00 a.m. (Boston time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three (3) Business Days in advance of the proposed conversionConversion/continuation date Continuation Date (in the case of a conversion to, or a continuation of, a LIBOR LoansRate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Loans (or telephonic notice in lieu thereof) Rate Loans, shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 2 contracts
Sources: Revolving Loan Agreement (CURO Group Holdings Corp.), Revolving Loan Agreement (CURO Group Holdings Corp.)
Conversion/Continuation. (ia) Subject to Section 2.6 and so So long as no Potential Event of Default or Event of Default shall have occurred and then be continuingcontinuing or would result therefrom, the Borrower shall have the option:
(ai) to convert at any time all all, or any part part, of any Borrowing, in an amount Loan equal to One Hundred Thousand Dollars ($5,000,000 or a higher 100,000) and integral multiple multiples of Fifty Thousand Dollars ($1,000,000, 50,000) in excess thereof from one Type of Loan to the other another Type of Loan; provided that provided, an Adjusted LIBOR Loans Rate Loan may only be converted on the expiration of the Interest Period applicable to such Adjusted LIBOR Loans Rate Loan unless the Borrower shall pay all amounts due under Section 2.6 3.1(c) in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of Adjusted LIBOR LoansRate Loan, to continue all or any portion of such Borrowing in Loan as an amount equal to $5,000,000 or a higher integral multiple of $1,000,000 as Adjusted LIBOR Loans for a new Interest PeriodRate Loan.
(iib) The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 a.m. at least one Business Day in advance of the proposed conversion date (in the case of a conversion to Base Rate Loans) and 1:00 p.m. at least three (3) Business Days in advance of the proposed conversionConversion/continuation date (in the case of conversion to, or continuation of, LIBOR Loans)Continuation Date. Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Adjusted LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 2 contracts
Sources: Credit Agreement (Heritage Insurance Holdings, Inc.), Credit Agreement (Heritage Insurance Holdings, Inc.)
Conversion/Continuation. (i) Subject to Section 2.6 2.9 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower shall have the option:
(a) to convert at any time all or any part of any Borrowing, Borrowing in an aggregate amount equal to of $5,000,000 or a higher integral multiple of $1,000,000, 1,000,000 from one Type of Loan to the other another Type of Loan; provided that if any LIBOR Loans may only be Rate Loan is converted on a day other than the expiration last day of the an Interest Period applicable to such LIBOR Loans unless therefor, the Borrower shall pay all amounts due under Section 2.6 2.8 in connection with such conversion; or
(b) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR Rate Loans, to continue all or any portion of such Borrowing in an amount equal to $5,000,000 or a higher integral multiple of $1,000,000 as LIBOR Loans for a new Interest PeriodPeriod in a minimum amount of $5,000,000.
(ii) The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to Base Rate Loans) and at least three Business Days in advance of the proposed conversionConversion/continuation date Continuation Date (in the case of a conversion to, or a continuation of, LIBOR Rate Loans). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 2 contracts
Sources: Bridge Loan Agreement (Hospira Inc), Term Loan Agreement (Hospira Inc)
Conversion/Continuation. (ia) Subject to Section 2.6 2.18 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower Borrowers shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Term Loan or Revolving Loan equal to $5,000,000 or a higher and integral multiple multiples of $1,000,000, 1,000,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided that LIBOR Loans provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Eurodollar Rate Loan unless the Borrower shall pay all amounts due under Section 2.6 2.18 in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansEurodollar Rate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher and integral multiple multiples of $1,000,000 in excess of that amount as LIBOR Loans for a new Interest PeriodEurodollar Rate Loan.
(iib) The Borrower Borrowers shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 a.m. 2:00 p.m. (New York City time) at least one (1) Business Day in advance of the proposed conversion date (in the case of a conversion to Base Rate Loansan ABR Loan) and at least three (3) Business Days in advance of the proposed conversionConversion/continuation date Continuation Date (in the case of a conversion to, or a continuation of, LIBOR Loansa Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, LIBOR any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower Borrowers shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 2 contracts
Sources: Superpriority Debtor in Possession Credit and Guaranty Agreement, Credit Agreement
Conversion/Continuation. (ia) Subject to Section 2.6 2.18 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Revolving Loan equal to $5,000,000 or a higher 2,000,000 and integral multiple multiples of $1,000,000, 100,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided that LIBOR Loans provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Eurodollar Rate Loan unless the Borrower shall pay all amounts due under Section 2.6 2.18 in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansEurodollar Rate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher 2,000,000 and integral multiple multiples of $1,000,000 100,000 in excess of that amount as LIBOR Loans for a new Interest PeriodEurodollar Rate Loan.
(iib) The Subject to Section 3.2(b), Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 10:00 a.m. (New York City time) at least one three Business Day Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three Business Days in advance of the proposed conversionConversion/continuation date Continuation Date (in the case of a conversion to, or a continuation of, LIBOR Loansa Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, LIBOR any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith. If on any day a Loan is outstanding with respect to which a Funding Notice or Conversion/Continuation Notice has not been delivered to Administrative Agent in accordance with the terms hereof specifying the applicable basis for determining the rate of interest, then for that day such Loan shall be a Base Rate Loan.
Appears in 2 contracts
Sources: Credit and Guaranty Agreement, Credit and Guaranty Agreement (TerraForm Power, Inc.)
Conversion/Continuation. (ia) Subject to Section 2.6 2.14 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the applicable Borrower shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Term Loan equal to $5,000,000 or a higher 500,000 and integral multiple multiples of $1,000,000, 100,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided that provided, a LIBOR Loans Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Rate Loan unless the applicable Borrower shall pay all amounts due under Section 2.6 2.14 in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansRate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher 500,000 and integral multiple multiples of $1,000,000 100,000 in excess of that amount as a LIBOR Loans for a new Interest PeriodRate Loan.
(iib) The A Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR LoansRate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the such Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 2 contracts
Sources: Credit and Guaranty Agreement (Cit Group Inc), Credit and Guaranty Agreement (Cit Group Inc)
Conversion/Continuation. (ia) Subject to Section 2.6 1.4 and Section 2.18 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Loan equal to $5,000,000 or a higher 500,000 and integral multiple multiples of $1,000,000, 100,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided provided, that a LIBOR Loans Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Rate Loan unless the Borrower shall pay all amounts due under Section 2.6 2.18 in connection with any such conversionconversion (if any); or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansRate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher 500,000 and integral multiple multiples of $1,000,000 100,000 in excess of that amount as a LIBOR Loans for a new Interest PeriodRate Loan.
(iib) The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three Business Days in advance of the proposed conversionConversion/continuation date Continuation Date (in the case of a conversion to, or a continuation of, a LIBOR LoansRate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Sources: Credit and Guaranty Agreement (GPB Holdings II, LP)
Conversion/Continuation. (ia) Subject to Section 2.6 2.17 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower Borrowers shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Loan equal to $5,000,000 or a higher 250,000 and integral multiple multiples of $1,000,000, 50,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided provided, that a LIBOR Loans Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Rate Loan unless the Borrower Borrowers shall pay all amounts due under Section 2.6 2.17 in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansRate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher 250,000 and integral multiple multiples of $1,000,000 50,000 in excess of that amount as a LIBOR Loans for a new Interest PeriodRate Loan.
(iib) The Administrative Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR LoansRate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower Borrowers shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Sources: Debtor in Possession Credit and Guaranty Agreement (Syntax-Brillian Corp)
Conversion/Continuation. (ia) Subject to Section 2.6 2.18 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower Borrowers shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Revolving Loan equal to $5,000,000 or a higher 1,000,000 and integral multiple multiples of $1,000,000, 1,000,000 in excess of that amount from one Type of Revolving Loan to the other another Type of Revolving Loan; provided that LIBOR Loans provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Eurodollar Rate Loan unless the Borrower Borrowers shall pay all amounts due under Section 2.6 2.18 in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansEurodollar Rate Loan, to continue all or any portion of such Borrowing in an amount Revolving Loan equal to $5,000,000 or a higher 1,000,000 and integral multiple multiples of $1,000,000 in excess of that amount as LIBOR Loans for a new Interest PeriodEurodollar Rate Loan.
(iib) The Borrower Agent shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, LIBOR Loansa Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, LIBOR any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Dateirrevocable, and the Borrower Borrowers shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Sources: Revolving Loan and Guaranty Agreement (Fedders Corp /De)
Conversion/Continuation. (ia) Subject to Section 2.6 2.17 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower Company shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Term Loan or Revolving Loan equal to $5,000,000 or a higher 100,000 and integral multiple multiples of $1,000,000, 100,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided that provided, a LIBOR Loans Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Rate Loan unless the Borrower Company shall pay all amounts due under Section 2.6 2.17 in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansRate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher 100,000 and integral multiple multiples of $1,000,000 100,000 in excess of that amount as a LIBOR Loans for a new Interest PeriodRate Loan.
(iib) The Borrower Company shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 a.m. 12:00 p.m. (New York City time) at least one (1) Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR LoansRate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Sources: Credit and Guaranty Agreement (Mortons Restaurant Group Inc)
Conversion/Continuation. (ia) Subject to Section 2.6 2.18 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower Company shall have the option:
(ai) to convert at any time all or any part of any BorrowingTerm Loan, in an amount Revolving Loan or Hedge L/C Loan equal to $5,000,000 or a higher 1,000,000 and integral multiple multiples of $1,000,000, 1,000,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided that LIBOR Loans provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Eurodollar Rate Loan unless the Borrower Company shall pay all amounts due under Section 2.6 2.18 in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansEurodollar Rate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher and integral multiple multiples of $1,000,000 in excess of that amount as LIBOR Loans for a new Interest PeriodEurodollar Rate Loan.
(iib) The Borrower Company shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, LIBOR Loansa Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, LIBOR any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Sources: Credit and Guaranty Agreement (Belden & Blake Corp /Oh/)
Conversion/Continuation. (ia) Subject to Section 2.6 2.17 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Applicable Borrower shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Term Loan or Revolving Loan equal to $5,000,000 or a higher 1,000,000 and integral multiple multiples of $1,000,000, 500,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided provided, that a LIBOR Loans Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Rate Loan unless the Applicable Borrower shall pay all amounts due under Section 2.6 2.17 in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansRate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher 1,000,000 and integral multiple multiples of $1,000,000 500,000 in excess of that amount as a LIBOR Loans for a new Interest PeriodRate Loan.
(iib) The Applicable Borrower shall deliver a Conversion/Continuation Notice to the Borrowing Base Agent and Administrative Agent no later than 11:00 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR LoansRate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Applicable Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Sources: Credit and Guaranty Agreement (Syntax-Brillian Corp)
Conversion/Continuation. (ia) Subject to Section 2.6 2.18 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Term Loan or Revolving Loan equal to $5,000,000 or a higher 1,000,000 and integral multiple multiples of $1,000,000, 500,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided that LIBOR Loans provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Eurodollar Rate Loan unless the Borrower shall pay all amounts due under Section 2.6 2.18 in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansEurodollar Rate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher 1,000,000 and integral multiple multiples of $1,000,000 500,000 in excess of that amount as LIBOR Loans for a new Interest PeriodEurodollar Rate Loan.
(iib) The Subject to Section 2.24, Borrower shall deliver a Conversion/Conversion/ Continuation Notice to the Administrative Agent no later than 11:00 a.m. 1:00 p.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, LIBOR Loansa Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, LIBOR any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith. If on any day a Loan is outstanding with respect to which a Funding Notice or Conversion/Continuation Notice has not been delivered to Administrative Agent in accordance with the terms hereof specifying the applicable basis for determining the rate of interest, then for that day such Loan shall be a Base Rate Loan.
Appears in 1 contract
Sources: Credit and Guaranty Agreement (Cypress Semiconductor Corp /De/)
Conversion/Continuation. (ia) Subject to Section 2.6 2.17 and so long as no Potential neither (x) a Default or an Event of Default under Section 7.01(b), Section 7.01(c), Section 7.01(h) or Section 7.01(i) shall have occurred and then be continuing nor (y)(i) any other Event of Default shall have occurred and then be continuingcontinuing at such time and (ii) the Administrative Agent or the Required Lenders shall have determined in their sole discretion not to permit conversions to or continuations of LIBOR Loans pursuant to this Section 2.08(a), the Borrower shall have the option:
(ai) to convert at any time all or any part of any Borrowing, Loan in an a minimum amount equal to $5,000,000 or a higher 250,000 and integral multiple multiples of $1,000,000, 100,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided that that, a LIBOR Loans Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Loan unless the Borrower shall pay all amounts due under Section 2.6 2.17 in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansLoan, to continue all or any portion of such Borrowing Loan in an a minimum amount equal to $5,000,000 or a higher 250,000 and integral multiple multiples of $1,000,000 100,000 in excess of that amount as a LIBOR Loans for a new Interest PeriodLoan.
(iib) The In order to exercise any conversion option pursuant to Section 2.08(a)(i) or continuation option pursuant to Section 2.08(a)(ii), the Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to Base Rate Loansan ABR Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR LoansLoan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Dateirrevocable, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith.. If the Borrower shall fail to give any required notice as described in this 63 |
Appears in 1 contract
Conversion/Continuation. (ia) Subject to Section 2.6 2.17 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower Companies shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Term Loan equal to $5,000,000 or a higher 500,000 and integral multiple multiples of $1,000,000, 250,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided that LIBOR Loans provided, a LIBO Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans LIBO Rate Loan unless the Borrower Companies shall pay all amounts due under Section 2.6 2.17(d) in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansLIBO Rate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher 500,000 and integral multiple multiples of $1,000,000 250,000 in excess of that amount as LIBOR Loans for a new Interest PeriodLIBO Rate Loan.
(iib) The Borrower Subject to Section 3.2(b), Credit Party Representative shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 a.m. 1:00 p.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loans) Loan and at least three Business Days in advance of the proposed conversion/conversion or continuation date (in the case of a conversion to, or a continuation of, LIBOR Loans)a LIBO Rate Loan. Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, LIBOR any LIBO Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower Companies shall be bound to effect a conversion or continuation in accordance therewith. If on any day a Loan is outstanding with respect to which a Funding Notice or a Conversion/Continuation Notice has not been delivered to Administrative Agent in accordance with the terms hereof specifying the applicable basis for determining the rate of interest, then, for that day, such Loan shall be a Base Rate Loan.
Appears in 1 contract
Conversion/Continuation. (ia) Subject to Section 2.6 2.17 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower Companies shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Term Loan equal to $5,000,000 or a higher 500,000 and integral multiple multiples of $1,000,000, 100,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided that provided, a LIBOR Loans Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Rate Loan unless the Borrower Companies shall pay all amounts due under Section 2.6 2.17 in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansRate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher 500,000 and integral multiple multiples of $1,000,000 100,000 in excess of that amount as a LIBOR Loans for a new Interest PeriodRate Loan.
(iib) The Borrower Company Representative shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three Business Days in advance of the proposed conversionConversion/continuation date Continuation Date (in the case of a conversion to, or a continuation of, a LIBOR LoansRate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower Companies shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Sources: Credit and Guaranty Agreement (Meridian Waste Solutions, Inc.)
Conversion/Continuation. (ia) Subject to Section 2.6 2.18 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Term Loan equal to $5,000,000 or a higher and integral multiple multiples of $1,000,000, 1,000,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided provided, that a LIBOR Loans Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Rate Loan unless the Borrower shall pay all amounts due under Section 2.6 2.17 in connection with any such conversion; , or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansRate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher and integral multiple multiples of $1,000,000 in excess of that amount as a LIBOR Loans for a new Interest PeriodRate Loan.
(iib) The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 a.m. noon (New York time) at least one two Business Day Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR LoansRate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Sources: Credit Agreement (Liberty Tax, Inc.)
Conversion/Continuation. (ia) Subject to Section 2.6 2.18 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower Borrowers shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Term Loan or Revolving Loan equal to $5,000,000 or a higher 1,000,000 and integral multiple multiples of $1,000,000, 500,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided that LIBOR Loans provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Eurodollar Rate Loan unless the Borrower Borrowers shall pay all amounts due under Section 2.6 2.18 in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansEurodollar Rate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher 1,000,000 and integral multiple multiples of $1,000,000 500,000 in excess of that amount as LIBOR Loans for a new Interest PeriodEurodollar Rate Loan.
(iib) The Administrative Borrower shall deliver a Conversion/Conversion/ Continuation Notice to the Administrative Agent no later than 11:00 a.m. 12:00 p.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, LIBOR Loansa Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, LIBOR any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower Borrowers shall be bound to effect a conversion or continuation in accordance therewith. If on any day a Loan is outstanding with respect to which a Funding Notice or Conversion/Continuation Notice has not been delivered to Administrative Agent in accordance with the terms hereof specifying the applicable basis for determining the rate of interest, then for that day such Loan shall be a Base Rate Loan.
Appears in 1 contract
Sources: Credit and Guaranty Agreement (AVG Technologies N.V.)
Conversion/Continuation. (ia) Subject to Section 2.6 3.04 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Loan of the applicable Class equal to $5,000,000 or a higher 500,000 and integral multiple multiples of $1,000,000, 50,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided provided, that a LIBOR Loans Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Rate Loan unless the Borrower shall pay all amounts due under Section 2.6 3.04 in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansRate Loan, to continue all or any portion of such Borrowing in an amount Loan of such Class equal to $5,000,000 or a higher 500,000 and integral multiple multiples of $1,000,000 50,000 in excess of that amount as a LIBOR Loans for a new Interest PeriodRate Loan.
(iib) The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 10:00 a.m. (Pacific time) at least one (1) Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR LoansRate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Sources: Credit Agreement (Fusion Telecommunications International Inc)
Conversion/Continuation. (i) Subject to Section 2.6 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower shall have the option:
(a) to convert at any time all or any part of any Borrowing, in an amount Loan equal to $5,000,000 or a higher 200,000,000 and integral multiple multiples of $1,000,000, 25,000,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided that provided, a LIBOR Loans Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Rate Loan unless the Borrower shall pay all amounts due under Section 2.6 in connection with any such conversion; or
(b) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansRate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher 200,000,000 and integral multiple multiples of $1,000,000 25,000,000 in excess of that amount as a LIBOR Loans for a new Interest PeriodRate Loan.
(ii) The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR LoansRate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith.. $1,100,000,000 CREDIT AGREEMENT
Appears in 1 contract
Sources: Credit Agreement (Assurant Inc)
Conversion/Continuation. (ia) Subject to Section 2.6 3.1 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuingcontinuing or would result therefrom, the Borrower shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Loan equal to $5,000,000 or a higher 100,000 and integral multiple multiples of $1,000,000, 50,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided that provided, an Adjusted LIBOR Loans Rate Loan may only be converted on the expiration of the Interest Period applicable to such Adjusted LIBOR Loans Rate Loan unless the Borrower shall pay all amounts due under Section 2.6 3.1(c) in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of Adjusted LIBOR LoansRate Loan, to continue all or any portion of such Borrowing in Loan as an amount equal to $5,000,000 or a higher integral multiple of $1,000,000 as Adjusted LIBOR Loans for a new Interest PeriodRate Loan.
(iib) The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 10:00 a.m. at least one three (3) Business Day Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three (3) Business Days in advance of the proposed conversionConversion/continuation date Continuation Date (in the case of a conversion to, or a continuation of, an Adjusted LIBOR LoansRate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Conversion/Continuation. (ia) Subject to Section 2.6 2.17 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Term Loan or Revolving Loan equal to $5,000,000 or a higher 250,000 and integral multiple multiples of $1,000,000, 100,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided provided, that a LIBOR Loans Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Rate Loan unless the Borrower shall pay all amounts due under Section 2.6 2.17 in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansRate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher 250,000 and integral multiple multiples of $1,000,000 100,000 in excess of that amount as a LIBOR Loans for a new Interest PeriodRate Loan.
(iib) The Borrower shall deliver a Conversion/Continuation Notice to the Borrowing Base Agent and Administrative Agent no later than 11:00 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR LoansRate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Sources: Credit and Guaranty Agreement (Proliance International, Inc.)
Conversion/Continuation. (ia) Subject to Section 2.6 3.1 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuingcontinuing or would result therefrom, the applicable Borrower shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Loan equal to $5,000,000 or a higher 100,000 and integral multiple multiples of $1,000,000, 50,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided that provided, an Adjusted LIBOR Loans Rate Loan may only be converted on the expiration of the Interest Period applicable to such Adjusted LIBOR Loans Rate Loan unless the such Borrower shall pay all amounts due under Section 2.6 2.15 in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of Adjusted LIBOR LoansRate Loan, to continue all or any portion of such Borrowing in an amount equal to $5,000,000 or Loan as a higher integral multiple of $1,000,000 as Adjusted LIBOR Loans for a new Interest PeriodRate Loan.
(iib) The applicable Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 10:00 a.m. at least one three (3) Business Day Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three (3) Business Days in advance of the proposed conversionConversion/continuation date Continuation Date (in the case of a conversion to, or a continuation of, an Adjusted LIBOR LoansRate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the such Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Sources: Credit Agreement (Earthlink Inc)
Conversion/Continuation. (ia) Subject to Section 2.6 2.18 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Term Loan or Revolving Loan equal to $5,000,000 or a higher and integral multiple multiples of $1,000,000, 1,000,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided that LIBOR Loans provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Eurodollar Rate Loan unless the Borrower shall pay all amounts due under Section 2.6 2.18 in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansEurodollar Rate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher and integral multiple multiples of $1,000,000 in excess of that amount as LIBOR Loans for a new Interest PeriodEurodollar Rate Loan.
(iib) The Subject to Section 2.24, Borrower shall deliver a Conversion/Conversion/ Continuation Notice to the Administrative Agent no later than 11:00 a.m. 12:00 p.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, LIBOR Loansa Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, LIBOR any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith. If on any day a Loan is outstanding with respect to which a Funding Notice or Conversion/Continuation Notice has not been delivered to Administrative Agent in accordance with the terms hereof specifying the applicable basis for determining the rate of interest, then for that day such Loan shall be a Base Rate Loan.
Appears in 1 contract
Conversion/Continuation. (ia) Subject to Section 2.6 2.17 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower Borrowers shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Term Loan or Revolving Loan equal to $5,000,000 or a higher 500,000 and integral multiple multiples of $1,000,000, 100,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided provided, that a LIBOR Loans Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Rate Loan unless the Borrower Borrowers shall pay all amounts due under Section 2.6 2.17 in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansRate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher 500,000 and integral multiple multiples of $1,000,000 100,000 in excess of that amount as a LIBOR Loans for a new Interest PeriodRate Loan.
(iib) The Borrower Representative shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR LoansRate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower Borrowers shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Conversion/Continuation. (ia) Subject to Section 2.6 2.18 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Term Loan equal to $5,000,000 or a higher 1,000,000 and integral multiple multiples of $1,000,000, 500,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided that LIBOR Loans provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Eurodollar Rate Loan unless the Borrower shall pay all amounts due under Section 2.6 2.18 in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansEurodollar Rate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher 1,000,000 and integral multiple multiples of $1,000,000 500,000 in excess of that amount as LIBOR Loans for a new Interest PeriodEurodollar Rate Loan.
(iib) The Subject to Section 3.2(b), Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 10:00 a.m. (New York City time) at least one (1) Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, LIBOR Loansa Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, LIBOR any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith. If on any day a Loan is outstanding with respect to which a Funding Notice or Conversion/Continuation Notice has not been delivered to Administrative Agent in accordance with the terms hereof specifying the applicable basis for determining the rate of interest, then for that day such Loan shall be a Base Rate Loan.
Appears in 1 contract
Sources: Second Lien Credit and Guaranty Agreement (American Casino & Entertainment Properties LLC)
Conversion/Continuation. (ia) Subject to Section 2.6 2.18 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Revolving Loan equal to $5,000,000 or a higher 1,000,000 and integral multiple multiples of $1,000,000, 250,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided that LIBOR Loans provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Eurodollar Rate Loan unless the Borrower shall pay all amounts due under Section 2.6 2.18 in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansEurodollar Rate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher 1,000,000 and integral multiple multiples of $1,000,000 250,000 in excess of that amount as LIBOR Loans for a new Interest PeriodEurodollar Rate Loan.
(iib) Subject to Section 3.2(b), The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, LIBOR Loansa Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, LIBOR any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith. If on any day a Loan is outstanding with respect to which a Funding Notice or Conversion/Continuation Notice has not been delivered to Administrative Agent in accordance with the terms hereof specifying the applicable basis for determining the rate of interest, then for that day such Loan shall be a Base Rate Loan.
Appears in 1 contract
Sources: Credit and Guaranty Agreement (Northstar Realty Finance Corp.)
Conversion/Continuation. (ia) Subject to Section 2.6 Section 2.17 and Section 2.23 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Term Loan equal to $5,000,000 or a higher and integral multiple multiples of $1,000,000, 1,000,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided provided, that a LIBOR Loans Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Rate Loan unless the Borrower shall pay all amounts due under Section 2.6 Section 2.17 in connection with any such conversion; , or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansRate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher and integral multiple multiples of $1,000,000 in excess of that amount as a LIBOR Loans for a new Interest PeriodRate Loan.
(iib) The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 a.m. noon (New York time) at least one two (2) Business Day Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR LoansRate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Conversion/Continuation. (ia) Subject to Section 2.6 2.16 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower Company shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Term Loan or Revolving Loan equal to $5,000,000 or a higher 500,000 and integral multiple multiples of $1,000,000, 100,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided that provided, a LIBOR Loans Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Rate Loan unless the Borrower Company shall pay all amounts due under Section 2.6 2.16(c) in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansRate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher 500,000 and integral multiple multiples of $1,000,000 100,000 in excess of that amount as a LIBOR Loans for a new Interest PeriodRate Loan.
(iib) The Borrower Company shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to Base a Index Rate LoansLoan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR LoansRate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Sources: Credit and Guaranty Agreement (Ipc Acquisition Corp)
Conversion/Continuation. (ia) Subject to Section 2.6 2.18 and so long as no Potential Event of Default or Event of Default shall will have occurred and then be continuing, the Borrower shall will have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Term Loan equal to $5,000,000 or a higher 100,000 and integral multiple multiples of $1,000,000, 50,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided that LIBOR Loans a SOFR Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans SOFR Loan unless the Borrower shall will pay all amounts due under Section 2.6 2.18 in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansSOFR Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher 100,000 and integral multiple multiples of $1,000,000 50,000 in excess of that amount as LIBOR Loans for a new Interest PeriodSOFR Loan.
(iib) The Borrower shall will deliver a Conversion/Continuation Notice to the Administrative Agent by Electronic Transmission no later than 11:00 a.m. (New York City time) at least one (1) Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, LIBOR Loansa SOFR Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, LIBOR any SOFR Loans (or telephonic notice in lieu thereof) shall will be irrevocable on and after the related Interest Rate Determination Datedate of receipt thereof by the Administrative Agent, and the Borrower shall will be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Conversion/Continuation. (ia) Subject SoSubject to Section 2.6 3.1 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuingexist immediately before or immediately after giving effect thereto, the Borrower shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Loan equal to $5,000,000 or a higher 100,000 and integral multiple multiples of $1,000,000, 50,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided that provided, an Adjusted LIBOR Loans Rate Loan may only be converted on the expiration of the Interest Period applicable to such Adjusted LIBOR Loans Rate Loan unless the Borrower shall pay all amounts Breakage Costs due under Section 2.6 3.1(c) in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of Adjusted LIBOR LoansRate Loan, to continue all or any portion of such Borrowing in Loan as an amount equal to $5,000,000 or a higher integral multiple of $1,000,000 as Adjusted LIBOR Loans for a new Interest PeriodRate Loan.
(iib) The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 10:00 a.m. at least one Business Day in advance of the proposed conversion date three (in the case of a conversion to Base Rate Loans3) and at least three Business Days in advance of the proposed conversionConversion/continuation date (Continuation Date in the case of a conversion to, into an Adjusted LIBOR Rate Loan or a continuation of, LIBOR Loans)thereof. Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, an Adjusted LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to effect a conversion or continuation in accordance therewithirrevocable.
Appears in 1 contract
Sources: Credit Agreement (Pfsweb Inc)
Conversion/Continuation. 63 -
(ia) Subject to Section 2.6 2.17 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Term Loan equal to $5,000,000 or a higher 1,000,000 and integral multiple multiples of $1,000,000, 100,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided provided, that LIBOR Loans a Term SOFR Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Term SOFR Loan unless the Borrower shall pay all amounts due under Section 2.6 2.17 in connection with any such conversion; , or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansTerm SOFR Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher 1,000,000 and integral multiple multiples of $1,000,000 100,000 in excess of that amount as LIBOR Loans for a new Interest PeriodTerm SOFR Loan.
(iib) The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 a.m. noon (New York time) at least one two (2) Business Day Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three (3) Business Days in advance of the proposed conversionConversion/continuation date Continuation Date (in the case of a conversion to, or a continuation of, LIBOR Loansa Term SOFR Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, LIBOR any Term SOFR Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Sources: Second Lien Credit Agreement (Great Lakes Dredge & Dock CORP)
Conversion/Continuation. (ia) Subject to Section 2.6 2.18 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Term Loan or Revolving Loan equal to $5,000,000 or a higher 500,000 and integral multiple multiples of $1,000,000, 100,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided provided, that a LIBOR Loans Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Rate Loan unless the Borrower shall pay all amounts due under Section 2.6 2.18(c) in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansRate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher 500,000 and integral multiple multiples of $1,000,000 100,000 in excess of that amount as a LIBOR Loans for a new Interest PeriodRate Loan.
(iib) The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 a.m. at least one Business Day in advance of the proposed conversion date 12:00 p.m. (in the case of a conversion to Base Rate LoansNew York City time) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of conversion to, or continuation of, LIBOR Loans)date. Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith.. Administrative Agent shall promptly give each Lender written notice of receipt of a Conversion/Continuation Notice and the matters covered by such Conversion/Continuation Notice
Appears in 1 contract
Sources: Credit and Guaranty Agreement (Aurora Diagnostics Holdings LLC)
Conversion/Continuation. (ia) Subject to Section 2.6 2.18 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower shall have the option:
(ai) to convert at any time all or any part of any Borrowing, in an amount Revolving Loan equal to $5,000,000 or a higher 2,000,000 and integral multiple multiples of $1,000,000, 100,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided provided, that LIBOR Loans a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Eurodollar Rate Loan unless the Borrower shall pay all amounts due under Section 2.6 2.18 in connection with any such conversion; or
(bii) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansEurodollar Rate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher 2,000,000 and integral multiple multiples of $1,000,000 100,000 in excess of that amount as LIBOR Loans for a new Interest PeriodEurodollar Rate Loan.
(iib) The Subject to Section 3.2(b), Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 10:00 a.m. (New York City time) at least one three Business Day Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three Business Days in advance of the proposed conversionConversion/continuation date Continuation Date (in the case of a conversion to, or a continuation of, LIBOR Loansa Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, LIBOR any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith. If on any day a Loan is outstanding with respect to which a Funding Notice or Conversion/Continuation Notice has not been delivered to Administrative Agent in accordance with the terms hereof specifying the applicable basis for determining the rate of interest, then for that day such Loan shall be a Base Rate Loan.
Appears in 1 contract
Sources: Credit and Guaranty Agreement (Terraform Global, Inc.)
Conversion/Continuation. (i) Subject to Section 2.6 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, the Borrower shall have the option:
(a) to convert at any time all or any part of any Borrowing, in an amount Loan equal to $5,000,000 or a higher 200,000,000 and integral multiple multiples of $1,000,000, 25,000,000 in excess of that amount from one Type of Loan to the other another Type of Loan; provided that provided, a LIBOR Loans Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Loans Rate Loan unless the Borrower shall pay all amounts due under Section 2.6 in connection with any such conversion; or
(b) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR LoansRate Loan, to continue all or any portion of such Borrowing in an amount Loan equal to $5,000,000 or a higher 200,000,000 and integral multiple multiples of $1,000,000 25,000,000 in excess of that amount as a LIBOR Loans for a new Interest PeriodRate Loan.
(ii) The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 11:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoansLoan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR LoansRate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice $650,000,000 CREDIT AGREEMENT in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Sources: Credit Agreement (Assurant Inc)