Conversion or Rollover Clause Samples

Conversion or Rollover. Subject to the provisions of Section 3, Company shall have the option: (i) to convert at any time all or any part of its outstanding Revolving Loans (other than Swing Line Loans) equal to Cdn.$1,000,000 and multiples of Cdn.$100,000 in excess of that amount from Prime Rate Loans to an issue of Bankers’ Acceptances, or from Bankers’ Acceptances to Prime Rate Loans; (ii) upon the expiration of a BA Interest Period applicable to Bankers’ Acceptances, to rollover all or any portion of such Loan equal to Cdn.$1,000,000 and multiples of Cdn.$100,000 in excess of that amount as a new issue of Bankers’ Acceptances; provided that an issue of Bankers’ Acceptances may only be converted into a Prime Rate Loan on the expiration date of the BA Interest Period applicable thereto. Company shall deliver a duly executed Notice of Conversion/Rollover to Administrative Agent no later than 11:00 a.m. (Toronto time) at least one Business Day in advance of the proposed Conversion date (in the case of a Conversion to a Prime Rate Loan) and at least three Business Days in advance of the proposed Conversion/Rollover date (in the case of a Conversion to, or a Rollover of, Bankers’ Acceptances). Administrative Agent shall notify each Lender of any Loan subject to a Notice of Conversion/Rollover. A Conversion or Rollover shall not be subject to the conditions to making a Loan set out in subsection 6.2.

Conversion or Rollover. Subject to the provisions of Section 3, Company shall have the option: (i) to convert at any time all or any part of its outstanding Term Loans or Revolving Loans (other than Swing Line Loans) equal to Cdn.$1,000,000 and multiples of Cdn.$100,000 in excess of that amount from Prime Rate Loans to an issue of Bankers' Acceptances, or from Bankers' Acceptances to Prime Rate Loans; (ii) upon the expiration of a BA Interest Period applicable to Bankers' Acceptances, to rollover all or any portion of such Loan equal to Cdn.$1,000,000 and multiples of Cdn.$100,000 in excess of that amount as a new issue of Bankers' Acceptances; provided that an issue of Bankers' Acceptances may only be converted into a Prime Rate Loan on the expiration date of the BA Interest Period applicable thereto. Company shall deliver a duly executed Notice of Conversion/Rollover to Administrative Agent no later than 11:00 a.m. (Toronto time) at least one Business Day in advance of the proposed Conversion date (in the case of a Conversion to a Prime Rate Loan) and at least three Business Days in advance of the proposed Conversion/Rollover date (in the case of a Conversion to, or a Rollover of, Bankers' Acceptances). In lieu of delivering a Notice of Conversion/Rollover, Company may give Administrative Agent telephonic notice by the required time of any proposed Conversion/Rollover under this subsection 2.2C, provided that 44 such notice shall be promptly confirmed in writing by delivery of a duly executed Notice of Conversion/Rollover to Administrative Agent on or before the proposed Conversion/Rollover date (which for greater certainty may be delivered by facsimile transmission). Administrative Agent shall notify each Lender of any Loan subject to a Notice of Conversion/Rollover. A Conversion or Rollover shall not be subject to the conditions to making a Loan set out in subsection 6.2.

Conversion or Rollover. On the relevant Conversion Date: 7.2.1 with respect to the Cdn Revolving Facility, the Cdn Borrower shall repay such portion of the Type of Cdn Revolving Loans that it desires be converted or rolled-over and shall be deemed to have requested a Drawdown under the Cdn Revolving Facility in the amount, the currency and the Type of Loan into which it desires to convert or rollover; and 7.2.2 with respect to the US Revolving Facility, the US Borrower shall repay such portion of the Type of US Revolving Loans that it desires be converted or rolled-over and shall be deemed to have requested a Drawdown under the US Revolving Facility in the amount, the currency and the Type of US Revolving Loan into which it desires to convert or rollover. The provisions of this Agreement relating to Drawdowns shall apply mutatis mutandis to any such Advance requested by way of conversion or rollover.