Conversion or Continuation of Loans. The Company shall have the right to Convert Loans of one type into Loans of another type or to Continue Eurodollar Rate Loans, at any time or from time to time, provided that: (a) the Company shall give the Agent a Notice of Continuation or Conversion in the form of Exhibit B-2, as applicable, prior to 10:00 a.m. (Chicago time) on the date at least (i) three (3) Business Days prior to the last day of the Interest Period of any Loan to be Converted into or Continued as a Eurodollar Rate Loan and (ii) one (1) Business Day prior to the last day of the Interest Period of any Loan to be Converted into a Base Rate Loan; (b) Eurodollar Rate Loans may be Converted or Continued only on the last day of an Interest Period for such Loans; (c) each Conversion or Continuation of a Eurodollar Rate Loan shall be in an amount at least equal to $250,000 or in any greater amount which is an integral multiple thereof; (d) no Event of Default shall have occurred and be continuing at the time of any Conversion or Continuation of any such Loan into a subsequent Interest Period; (e) accrued interest on the Loan (or portion thereof) being Converted or Continued shall be paid by the Company at the time of Continuation or Conversion; and (f) each request for a Continuation as or Conversion to a Eurodollar Rate Loan which fails to state an applicable Interest Period shall be deemed to be a request for an Interest Period of one (1) month. Notwithstanding anything to the contrary herein contained, if, upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, the Company shall fail to give a Notice of Continuation or Conversion as set forth in this Subsection 2.7, the Company shall be deemed to have given a Notice of Continuation of such Eurodollar Rate Loan in principal amount equal to the outstanding principal amount of such Eurodollar Rate Loan and having an Interest Period of one (1) month.
Conversion or Continuation of Loans. Subject to Section 4 hereof, the Borrower shall have the right to Convert Loans of one type into Loans of the other type or Continue Loans of one type as Loans of the same type, at any time or from time to time, provided that (a) Libor Loans may be Converted only on the last day of an Interest Period for such Loans, and (b) Swingline Loans may be outstanding only as Base Rate Loans.
Conversion or Continuation of Loans. (a) Subject to the other provisions hereof, the Borrower shall have the option (i) to Convert at any time all or any part of outstanding Base Rate Loans to LIBO Rate Loans, (ii) to Convert all or any part of outstanding LIBO Rate Loans which comprise part of the same Borrowing to Base Rate Loans, on the expiration date of the Interest Period applicable thereto, or (iii) to continue all or any part of outstanding LIBO Rate Loans which comprise part of the same Borrowing as LIBO Rate Loans for an additional Interest Period, on the expiration date of the Interest Period applicable thereto; provided that no Loan may be continued as, or converted -------- into, a LIBO Rate Loan when any Event of Default has occurred and is continuing. Notwithstanding anything to the contrary set forth herein, if the Borrower shall fail to give notice of any continuation of a LIBO Rate Loan as set forth herein, or if such continuation shall not be permitted pursuant to the terms hereof, any such LIBO Rate Loans shall be automatically converted to Base Rate Loans on the last day of such then expiring Interest Period.
Conversion or Continuation of Loans. Subject to ------------------------------------- Section 4 hereof, the Borrower shall have the right to Convert Loans of one type into Loans of the other type or Continue Loans of one type as Loans of the same type, at any time or from time to time, provided that Eurodollar Loans may be Converted only on the last day of an Interest Period for such Loans.
Conversion or Continuation of Loans. The Company may Convert Loans of one Type into Loans of another Type or Continue Loans of one Type as Loans of the same Type, provided that (i) the Company shall give the Agent notice of each such Conversion or Continuation as provided in Section 4.7.; (ii) Eurodollar Loans may be prepaid or Converted only on the last day of an Interest Period for such Loans; (iii) no Loan may be Converted into or Continued as a Eurodollar Loan during the continuance of an Unmatured Default or an Event of Default; and (iv) no more than 8 separate Interest Periods in respect of Eurodollar Loans from any Lender may be outstanding at any one time.
Conversion or Continuation of Loans. Subject to the provisions of subsection 2.10B, each Borrower shall have the option (A) as of any Business Day, in the case of Base Rate Loans, or as of the last day of the applicable Interest Period, in the case of any Offshore Rate Loans, to convert any such Loans in whole without regard to any minimum amount or in part subject to the limitations described herein (i) to Base Rate Loans in a minimum amount equal to $500,000 or integral multiples of $100,000 in excess thereof, (ii) to Offshore Rate Loans denominated in Dollars in a minimum amount equal to $5,000,000 or integral multiples of $1,000,000 in excess thereof, and (iii) to Offshore Currency Loans in a minimum amount equal to 1,000,000 units of the applicable Offshore Currency or integral multiples of 500,000 units of the applicable Offshore Currency in excess thereof; or (B) as of the last day of any Interest Period applicable to an Offshore Rate Loan, to continue all of such Offshore Rate Loan without regard to any minimum amount or any portion of that and all other Offshore Rate Loans denominated in the same currency and having Interest Periods expiring on such day in a minimum amount equal to (i) $5,000,000 or integral multiples of $1,000,000 in excess thereof, in the case of Offshore Rate Loans denominated in Dollars and (ii) 1,000,000 units of the applicable Offshore Currency or integral multiples of 500,000 units of the applicable Offshore Currency in excess thereof, in the case of Offshore Currency Loans; PROVIDED, that if at any time the principal amount of any Offshore Rate Loan is reduced by mandatory prepayment or conversion in part thereof, and the remaining amount is less than the minimum amounts set forth above, such remaining amount of such Offshore Rate Loan shall automatically convert to a Base Rate Loan until such time as such Offshore Rate Loan, when combined with any other outstanding Base Rate Loans, shall be sufficient to permit the Applicable Borrower to convert such Offshore Rate Loan to, and continue such Offshore Rate Loan as, an Offshore Rate Loan in any of the minimum amounts set forth above. The Applicable Borrower shall deliver a Notice of Conversion/Continuation to Administrative Agent no later than (i) 9:00 A.M. (California time) at least three (3) Business Days in advance of the proposed conversion date in the case of Conversion to Base Rate Loans, (ii) 9:00 A.M. (California time) at least three (3) Business Days in advance of the proposed conversion/continuation d...
Conversion or Continuation of Loans. Whenever the Borrowers desire, subject to the provisions of SECTION 5.4, to convert an outstanding Loan into a Loan of a different Type provided for in this Agreement or to continue an outstanding Loan for a subsequent Interest Period, the Borrowers' Representative shall notify the Administrative Agent (which notice shall be irrevocable) by telex, telegraph, telecopy or telephone not later than 12:00 noon on the date one Business Day before the day on which a proposed conversion of a Loan into, or a continuation of a Loan as a Base Rate Loan, and three Business Days before the day on which a proposed conversion of a Loan into, or continuation of a Loan as a LIBOR Loan is to be effective (and if the Loan to be converted or continued is a LIBOR Loan such effective date shall be the last day of the Interest Period therefor). Each such notice (a "Notice of Conversion or Continuation") shall (i) identify the Loan to be converted or continued, including the Type of such Loan, the aggregate outstanding principal balance thereof and, in the case of a LIBOR Loan, the last day of the Interest Period therefor, (ii) specify the effective date of such conversion or continuation, (iii) specify the principal amount of such Loan to be converted or continued and, if converted, the Type or Types of Loan into which conversion of such principal amount is to be made, and (iv) in the case of any conversion into or continuation as a LIBOR Loan, the Interest Period to be applicable to such converted or continued Loan, and shall be immediately followed by a written confirmation thereof by the Borrowers' Representative in substantially the from of Exhibit F hereto, PROVIDED that if such written confirmation differs in any material respect from the action taken by the Administrative Agent, the record of the Administrative Agent shall control absent manifest error.
Conversion or Continuation of Loans. The Borrower shall have the right (a) to designate any portion of a Loan to be a Eurodollar Rate Loan, (b) to continue any Eurodollar Rate Loan or portion thereof into a subsequent Interest Period, and (c) to convert any Base Rate Loan into a Eurodollar Rate Loan, subject in each case to the selection of Interest Periods in accordance with the definition thereof, and the provisions set forth below. Each such designation, conversion or continuation shall be made upon prior irrevocable written or telephonic notice to the Agent. To be effective, each notice must be received by the Agent not later than 10:00 a.m., Washington, D.C. time, on the second Business Day preceding the date of any designation, continuation or conversion of a Eurodollar Rate Loan. Each designation, continuation and conversion shall be subject to the following:
Conversion or Continuation of Loans. Borrower may not at any time convert some or all of a Base Rate Loan to a LIBOR Loan, or a LIBOR Loan to a Base Rate Loan, except in situations described in Sections 4.14, 4.15 and 4.16 in which cases such conversion shall be mandatory.
Conversion or Continuation of Loans. Borrower may not at any time convert some or all of a Base Rate Loan to a LIBOR Loan, or a LIBOR Loan to a Base Rate Loan, except in situations described in this Section and in Sections 4.15, 4.16 and 4.17 in which cases such conversion shall be mandatory. At Borrower's option, subject to Section 4.8, all Revolving Loans and all Swingline Loans for a calendar quarter shall be either Base Rate Loans or LIBOR Loans based on a written election from Borrower to Administrative Agent. If Borrower does not deliver a written election to Administrative Agent then, subject to Section 4.8, all Revolving Loans and all Swingline Loans shall be deemed to be LIBOR Loans, with such election being effective on the first day of the calendar month following delivery of such notice from Borrower to Administrative Agent if such notice is given to Administrative Agent at least five Business Days prior to the first day of such calendar month, otherwise such change shall take effect on the first day of the next subsequent calendar month. Effective only one time in each calendar quarter, with respect to all Revolving Loans and all Swingline Loans, Borrower may change from Base Rate to the Adjusted LIBOR Rate or Adjusted LIBOR Rate to Base Rate, as the case may be, with such election being effective on the first day of the calendar month following delivery of such notice from Borrower to Administrative Agent if such notice is given to Administrative Agent at least five Business Days prior to the first day of such calendar month, otherwise such change shall take effect on the first day of the next subsequent calendar month. All Swingline Loans shall always bear interest at the same rate as all Revolving Loans.
