Common use of Conversions and Continuations of Accounts Clause in Contracts

Conversions and Continuations of Accounts. Subject to ----------------------------------------- Section 5.2 hereof, Borrower shall have the right from time to time to Convert ----------- all or part of any Base Rate Account in existence under a Loan into a Libor Account under the same Loan or to continue Libor Accounts in existence under a Loan as Libor Accounts under the same Loan, provided that: (a) Borrower shall -------- give Administrative Agent notice of each such Conversion or Continuation as provided in Section 5.3 hereof; (b) subject to Section 6.3 hereof, a Libor ----------- ----------- Account may only be Converted on the last day of the Interest Period therefor; and (c) except for Conversions into Base Rate Accounts, no Conversions or Continuations shall be made without the consent of Administrative Agent and the Required Lenders while a Default has occurred and is continuing.

Appears in 3 contracts

Samples: Credit Agreement (Renaissance Worldwide Inc), Credit Agreement (Renaissance Worldwide Inc), Credit Agreement (Renaissance Worldwide Inc)

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Conversions and Continuations of Accounts. Subject to Section ----------------------------------------- Section ------- 5.2 hereof, the Borrower shall have the right from time to time to Convert ----------- all --- or part of any Base Rate Account in existence under a Loan (other than a Swingline Advance) into a Libor Account under the same Loan or to continue Libor Accounts in existence under a Loan as Libor Accounts under the same Loan, provided that: (a) the Borrower shall -------- give the Administrative Agent -------- notice of each such Conversion or Continuation as provided in Section 5.3 ----------- hereof; (b) subject to Section 6.3 hereof, a Libor ----------- ----------- Account may only be Converted ----------- on the last day of the Interest Period therefor; and (c) except for Conversions into Base Rate Accounts, no Conversions or Continuations shall be made without the consent of the Administrative Agent and the Required Lenders while a Default has occurred and is continuing.

Appears in 2 contracts

Samples: Credit Agreement (Imperial Financial Group Inc), Credit Agreement (Imperial Financial Group Inc)

Conversions and Continuations of Accounts. Subject to ----------------------------------------- Section Sections 5.2 hereofand 6.5 and the other provisions of this Agreement, the Borrower shall have the right from time to time to Convert ----------- all or part of any Base Rate Account in existence under a Loan into a Libor Account under the same Loan or to continue Continue Libor Accounts in existence under a Loan as Libor Accounts under the same Loan, provided that: (a) the Borrower shall -------- give Administrative the Agent notice of each such Conversion or Continuation as provided in Section 5.3 hereof5.3; (b) subject to Section 6.3 hereof, a Libor ----------- ----------- Account may only be Converted on the last day of the Interest Period therefor; and (c) except for Conversions into Base Rate Accounts, no Conversions or Continuations shall be made without the consent while an Event of Administrative Agent and the Required Lenders while a Default has occurred and is continuing; and (d) a Libor Account established under one Loan may not be Continued as a Libor Account under another Loan.

Appears in 1 contract

Samples: Credit Agreement (Learningstar Inc)

Conversions and Continuations of Accounts. Subject to ----------------------------------------- Section 5.2 SECTION 4.2 hereof, Borrower shall have the right from time to time to Convert ----------- all or part of any Base Rate Account in existence under a Loan into a Libor Account under the same Loan or to continue Libor Accounts in existence under a Loan as Libor Accounts under the same Loan, provided PROVIDED that: (a) Borrower shall -------- give Administrative Agent notice of each such Conversion or Continuation as provided in Section 5.3 SECTION 4.3 hereof; (b) subject to Section 6.3 SECTION 5.3 hereof, a Libor ----------- ----------- Account may only be Converted on the last day of the Interest Period therefor; and (c) except for Conversions into Base Rate Accounts, no Conversions or Continuations shall be made without the consent of Administrative Agent and the Required Lenders while a Default has occurred and is continuing.

Appears in 1 contract

Samples: Credit Agreement (Peregrine Systems Inc)

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Conversions and Continuations of Accounts. Subject to ----------------------------------------- Section SECTION 5.2 hereof, the Borrower shall have the right from time to time to Convert ----------- all or part of any Base Rate Account in existence under a Loan into a Libor Account under the same Loan or to continue Libor Accounts in existence under a Loan as Libor Accounts under the same Loan, provided PROVIDED that: (a) the Borrower shall -------- give the Administrative Agent notice of each such Conversion or Continuation as provided in Section SECTION 5.3 hereof; (b) subject to Section SECTION 6.3 hereof, a Libor ----------- ----------- Account may only be Converted on the last day of the Interest Period therefor; and (c) except for Conversions into Base Rate Accounts, no Conversions or Continuations shall be made without the consent of the Administrative Agent and the Required Lenders while a Default has occurred and is continuing.

Appears in 1 contract

Samples: Credit Agreement (First Investors Financial Services Group Inc)

Conversions and Continuations of Accounts. Subject to ----------------------------------------- Section 5.2 SECTION 4.2 hereof, the Borrower shall have the right from time to time to Convert ----------- all or part of any Base Rate Account in existence under a Loan into a Libor Account under the same Loan or to continue Libor Accounts in existence under a Loan as Libor Accounts under the same Loan, provided PROVIDED that: (a) the Borrower shall -------- give the Administrative Agent notice of each such Conversion or Continuation as provided in Section 5.3 SECTION 4.3 hereof; (b) subject to Section 6.3 SECTION 5.3 hereof, a Libor ----------- ----------- Account may only be Converted on the last day of the Interest Period therefor; and (c) except for Conversions into Base Rate Accounts, no Conversions or Continuations shall be made without the consent of the Administrative Agent and the Required Lenders while a Default has occurred and is continuing.

Appears in 1 contract

Samples: Credit Agreement (Firstmerit Corp /Oh/)

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