Conversion From Adjusted Base Rate Clause Samples
Conversion From Adjusted Base Rate. During any period in which any portion of the principal hereof bears interest at a rate based upon the Adjusted Base Rate, Borrower shall have the right, on any Business Day (the "CONVERSION DATE"), to convert all or a portion of such principal amount from the Base Rate Balance to a LIBOR Balance by giving Bank an Interest Notice of such selection on or before such Conversion Date. An Interest Notice may be in writing. All written Interest Notices are effective only upon receipt by Bank. Each Interest Notice shall be irrevocable and binding upon Borrower.
Conversion From Adjusted Base Rate. During any period in which any portion of the principal hereof bears interest at a rate based upon the Adjusted Base Rate, Borrower shall have the right, on any Business Day (the "Conversion Date"), to convert all or a portion of such principal amount from the Base Rate Balance to a LIBOR Balance by giving Bank an Interest Notice of such selection at least two (2) Business Days prior to such Conversion Date, or as otherwise agreed to by Bank. An Interest Notice may be written or oral and Bank is hereby authorized and directed to honor all telephonic Interest Notices hereunder. Borrower agrees to indemnify and hold Bank harmless from any loss or liability incurred by Bank in connection with honoring any telephonic or other oral Interest Notices. All written Interest Notices are effective only upon receipt by Bank. Each Interest Notice shall be irrevocable and binding upon Borrower.
Conversion From Adjusted Base Rate. Subject to the other provisions of this Agreement, during any period in which any Base Rate Balance is in existence, Borrower shall have the right, on any LIBOR Business Day, to convert all or a portion thereof to a LIBOR Rate Advance by giving Agent an Interest Notice of such conversion not less than two (2) LIBOR Business Days prior to the date of such conversion. Agent, at its option, may accept telephonic instructions as an Interest Notice (provided that Borrower agrees that any such telephonic request shall promptly be confirmed to Agent by Borrower delivering a written Interest Notice to Agent) and Agent hereby is authorized and directed to honor all telephonic or other oral Interest Notices from any Person authorized by Borrower to request an Advance. Borrower agrees to indemnify and hold Agent and the Lenders harmless from any loss or liability incurred by any of them in connection with honoring any telephonic or other oral Interest Notices. All written Interest Notices are effective only upon receipt by Agent. Each Interest Notice, whether written or oral, shall be irrevocable and binding upon Borrower.