Common use of Conversion to Different Type of Loan Clause in Contracts

Conversion to Different Type of Loan. The applicable Borrower may elect from time to time to convert any outstanding Loan to a Loan of another Type, provided that (a) with respect to any such conversion of a Eurocurrency Rate Loan denominated in Dollars to a Base Rate Loan, the applicable Borrower shall give the Administrative Agent at least three (3) Eurocurrency Business Days prior written notice of such election; (b) with respect to any such conversion of a Base Rate Loan to a Eurocurrency Rate Loan denominated in Dollars, the applicable Borrower shall give the Administrative Agent at least three (3) Eurocurrency Business Days prior written notice of such election; (c) with respect to any such conversion of a Eurocurrency Rate Loan denominated in Alternative Currencies, the applicable Borrower shall give the Administrative Agent at least four (4) Eurocurrency Business Days (or five Eurocurrency Business Days in the case of a Special Notice Currency) prior written notice of such election; (d) with respect to any such conversion of a Eurocurrency Rate Loan into a Base Rate Loan, such conversion shall only be made on the last day of the Interest Period with respect thereto and (e) no Loan may be converted into a Eurocurrency Rate Loan when any Default or Event of Default has occurred and is continuing. On the date on which such conversion is being made each Lender shall take such action as is necessary to transfer its Commitment Percentage of such Loans to its Domestic Lending Office or its Eurocurrency Lending Office, as the case may be. All or any part of outstanding Loans of any Type may be converted into a Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof. Each Conversion Request relating to the conversion of a Loan to a Eurocurrency Rate Loan shall be irrevocable by the Borrowers. No Loan may be converted into a Loan denominated in a different currency, but instead must be prepaid in the original currency of such Loan and reborrowed in the other currency.

Conversion to Different Type of Loan. The applicable Borrower may elect from time to time to convert any outstanding Loan to a Loan of another Type, provided that (a) with respect to any such conversion of a Eurocurrency Rate Loan denominated in Dollars to a Base Rate Loan, the applicable Borrower shall give the Administrative Agent written notice no later than 11:00 a.m. (Eastern time) at least three (3) Eurocurrency Business Days prior written notice of to such election; (b) with respect to any such conversion of a Base Rate Loan to a Eurocurrency Rate Loan denominated in Dollars, the applicable Borrower shall give the Administrative Agent written notice no later than 11:00 a.m. (Eastern time) at least three (3) Eurocurrency Business Days prior written notice of to such election; (c) with respect to any such conversion of a Eurocurrency Rate Loan denominated in Alternative Currencies, the applicable Borrower shall give the Administrative Agent written notice no later than 11:00 a.m. (Eastern time) at least four (4) Eurocurrency Business Days (or five Eurocurrency Business Days in the case of a Special Notice Currency) prior written notice of to such election; (d) with respect to any such conversion of a Eurocurrency Rate Loan into a Base Rate Loan, such conversion shall only be made on the last day of the Interest Period with respect thereto and (e) no Loan may be converted into a Eurocurrency Rate Loan when any Default or Event of Default has occurred and is continuing. On the date on which such conversion is being made each Lender shall take such action as is necessary to transfer its Commitment Percentage of such Loans to its Domestic Lending Office or its Eurocurrency Lending Office, as the case may be. All or any part of outstanding Loans of any Type may be converted into a Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of $5,000,000 500,000 or a whole multiple of $1,000,000 100,000 in excess thereof. Each Conversion Request relating to the conversion of a Loan to a Eurocurrency Rate Loan shall be irrevocable by the Borrowers. No Loan may be converted into a Loan denominated in a different currency, but instead must be prepaid in the original currency of such Loan and reborrowed in the other currency.

Conversion to Different Type of Loan. The applicable Borrower Domestic Borrowers may elect from time to time to convert any outstanding U.S. Loan to a U.S. Loan of another Type, provided that (ai) with respect to any such conversion of a Eurocurrency Rate U.S. Loan denominated in Dollars to a Base Rate Loan, the applicable Borrower Domestic Borrowers shall give the Administrative Agent at least three Agent, no later than 2:00 p.m. (3Boston time) Eurocurrency Business Days on the proposed date of such conversion, prior written notice of such electionelection (the Agent agreeing to notify the U.S. Lenders promptly of the giving of any such notice by the Domestic Borrowers); (bii) with respect to any such conversion of a Base Rate Loan to a Eurocurrency Eurodollar Rate Loan denominated in DollarsLoan, the applicable Borrower Domestic Borrowers shall give the Administrative Agent Agent, no later than 10:00 a.m. (Boston time) at least three (3) Eurocurrency Eurodollar Business Days prior to the proposed date of such conversion, written notice of such electionelection (the Agent agreeing to notify the U.S. Lenders promptly of the giving of any such notice by the Domestic Borrowers); (ciii) with respect to any such conversion of a Eurocurrency Rate Loan denominated in Alternative Currencies, the applicable Borrower shall give the Administrative Agent at least four (4) Eurocurrency Business Days (or five Eurocurrency Business Days in the case of a Special Notice Currency) prior written notice of such election; (d) with respect to any such conversion of a Eurocurrency Eurodollar Rate Loan into a Base Rate LoanU.S. Loan of another Type, any such conversion shall only be which is made on a day other than the last day of the Interest Period with respect thereto shall obligate the Domestic Borrowers to indemnify the U.S. Lenders for any loss, cost or expense associated therewith in accordance with the provisions of Section 7.11 hereof, and (eiv) no U.S. Loan may be converted into a Eurocurrency Eurodollar Rate Loan when any Default or Event of Default has occurred and is continuing. On the date on which such conversion is being made each U.S. Lender shall take such action as is necessary to transfer its U.S. Commitment Percentage of such U.S. Loans to its Domestic Lending Office or its Eurocurrency Eurodollar Lending Office, as the case may be. All or any part of outstanding U.S. Loans of any Type may be converted into a U.S. Loan of another Type as provided herein, provided that any partial conversion of a Eurodollar Rate Loan to a Base Rate Loan shall be in an aggregate principal amount of at least $5,000,000 100,000, and any partial conversion of a Base Rate Loan to a Eurodollar Rate Loan shall be in an aggregate principal amount of at least $1,000,000 or a whole an integral multiple of $1,000,000 500,000 in excess thereof. Each Conversion Request relating to the conversion of a U.S. Loan to a Eurocurrency Eurodollar Rate Loan shall be irrevocable by the Domestic Borrowers. No Loan may be converted into a Loan denominated in a different currency, but instead must be prepaid in the original currency of such Loan and reborrowed in the other currency.