Common use of Conversion or Rollover Clause in Contracts

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.