Common use of Conversions and Continuations Clause in Contracts

Conversions and Continuations. In order to elect to Convert or Continue Term Advances under this Section, the Borrower shall deliver an irrevocable Notice of Conversion or Continuation to the Administrative Agent at its Applicable Lending Office no later than (i) 12:00 p.m. (New York time) at least [__________]* in advance of such requested Conversion date in the case of a Conversion of a Eurodollar Advance to an Adjusted Base Rate Advance (or vice versa), or (ii) 12:00 p.m. (New York time) at least [__________]* in advance of such requested Conversion date in the case of a Conversion into or Continuation of Eurodollar Advances to other Eurodollar Advances. Each such Notice of Conversion or Continuation shall be in writing or by telex, telecopier or telephone, confirmed promptly in writing specifying (A) the requested Conversion or Continuation date (which shall be a Business Day), (B) the amount, Type and Class of the Advances to be Converted or Continued, (C) whether a Conversion or Continuation is requested, and if a Conversion, into what Type of Advances of the same Class, and (D) in the case of a Conversion to, or a Continuation of, Eurodollar Advances, the requested Interest Period(s). Promptly after receipt of a Notice of Conversion or Continuation under this paragraph, the Administrative Agent shall thereafter promptly provide each Lender with a copy thereof and, in the case of a Conversion to or a Continuation of Eurodollar Advances, promptly notify each Lender of the interest rate under Section 2.5(a)(ii) after its determination. If the Borrower shall not have given a Notice of Conversion or Continuation to the Administrative Agent pursuant to and in accordance with this Section 2.2, then the Type and Class of the Advances shall automatically be Continued and, in the case of Eurodollar Advances, shall be for an Interest Period of the same duration as the Interest Period then ending; provided that such Interest Period is otherwise permitted under this Agreement (and if such Interest Period is not so permitted then such Advance shall be Converted into an Adjusted Base Rate Advance). Notwithstanding anything in this Agreement to the contrary, Conversions of Eurodollar Advances may only be made effective at the end of the applicable Interest Period for such Advances; provided, however, that Conversions of Adjusted Base Rate Advances may be made at any time upon the requisite advance notice. The portion of Advances comprising part of the same Borrowing that are Converted to Advances of another Type in the same Class of Advances shall constitute a new Borrowing of the same Class.

Appears in 2 contracts

Samples: Credit Agreement (Cig Wireless Corp.), Credit Agreement (Cig Wireless Corp.)

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Conversions and Continuations. In order to elect to Convert or Continue Term Advances continue an Advance under this Sectionparagraph, the Borrower shall deliver an irrevocable Notice of Continuation or Conversion or Continuation to the Administrative Agent at its Applicable Lending Office the Administrative Agent’s office no later than 1:00 p.m. (Houston, Texas time) (i) 12:00 p.m. (New York time) at least [__________]* in advance on the Business Day before the date of such requested Conversion the proposed conversion date in the case of a Conversion of to a Eurodollar Advance to an Adjusted Base Rate Advance (or vice versa), or and (ii) 12:00 p.m. (New York time) at least [__________]* three (3) Business Days in advance of such requested the proposed Conversion or continuation date in the case of a Conversion into to, or Continuation of a continuation of, a Eurodollar Advances Advance; provided that, if Conversions to other Eurodollar Advances, if any, are to be made on the Effective Date, such Conversions shall be made pursuant to the applicable Notice of Continuation or Conversion given not later than 1:00 p.m. (Houston, Texas time) on the second Business Day before the Effective Date. Each such Notice of Continuation or Conversion or Continuation shall be in writing or by telexfacsimile or electronic mail (with a PDF file of the executed Notice of Continuation or Conversion attached), telecopier or telephone, confirmed promptly in writing specifying (Ai) the requested Conversion or Continuation continuation date (which shall be a Business Day), (Bii) the amount, Type Type, and Class of the Advances Advance to be Converted or Continuedcontinued, (Ciii) whether a Conversion or Continuation continuation is requestedrequested and, and if a Conversion, into what Type of Advances of the same ClassAdvance, and (Div) in the case of a Conversion to, or a Continuation continuation of, a Eurodollar AdvancesAdvance, the requested Interest Period(s)Period. Promptly after receipt of a Notice of Continuation or Conversion or Continuation under this paragraph, the Administrative Agent shall thereafter promptly provide each Lender with a copy thereof and, in the case of a Conversion to or a Continuation continuation of a Eurodollar AdvancesAdvance, promptly notify each Lender of the applicable interest rate under Section 2.5(a)(ii) after its determination. If the Borrower shall not have given a Notice of Conversion or Continuation to the Administrative Agent pursuant to and in accordance with this Section 2.2, then the Type and Class of the Advances shall automatically be Continued and, in the case of Eurodollar Advances, shall be for an Interest Period of the same duration as the Interest Period then ending; provided that such Interest Period is otherwise permitted under this Agreement (and if such Interest Period is not so permitted then such Advance shall be Converted into an Adjusted Base Rate Advance2.8(b). Notwithstanding anything in this Agreement to the contrary, Conversions of Eurodollar Advances may only be made effective at the end of the applicable Interest Period for such Advances; provided, however, that Conversions of Adjusted Base Rate Advances may be made at any time upon the requisite advance notice. The portion of Advances comprising part of the same Borrowing that are Converted to Advances of another Type in the same Class of Advances shall constitute a new Borrowing of the same ClassBorrowing.

Appears in 2 contracts

Samples: Credit Agreement (Forum Energy Technologies, Inc.), Credit Agreement (Forum Energy Technologies, Inc.)

Conversions and Continuations. In order to elect to Convert or Continue Term Revolving Advances comprising part of the same Borrowing under this Section, the Borrower Representative shall deliver an irrevocable Notice of Conversion or Continuation to the Administrative Agent at its Applicable Lending Office the Administrative Agent’s office no later than 2:00 p.m. (Houston, Texas time) (i) 12:00 p.m. (New York time) at least [__________]* one Business Day in advance of such requested the proposed Conversion date in the case of a Conversion of a Eurodollar Advance such Revolving Advances to an Adjusted Base Rate Advance (or vice versa)Advances, or and (ii) 12:00 p.m. (New York time) at least [__________]* three Business Days in advance of such requested the proposed Conversion or Continuation date in the case of a Conversion into to, or a Continuation of Eurodollar Advances to other of, Eurodollar Advances. Each such Notice of Conversion or Continuation shall be in writing or by telexfacsimile, telecopier or telephone, confirmed promptly in writing specifying (A) the requested Conversion or Continuation date (which shall be a Business Day), (B) the amount, Borrowing amount and Type and Class of the Revolving Advances to be Converted or Continued, (C) whether a Conversion or Continuation is requested, and if a Conversion, into what Type of Advances of the same ClassRevolving Advances, and (D) in the case of a Conversion to, or a Continuation of, Eurodollar Advances, the requested Interest Period(s)Period. Promptly after receipt of a Notice of Conversion or Continuation under this paragraph, the Administrative Agent shall thereafter promptly provide each applicable Lender with a copy thereof and, in the case of a Conversion to or a Continuation of Eurodollar Advances, promptly notify each applicable Lender of the applicable interest rate under Section 2.5(a)(ii) after its determination2.9 as applicable. If For purposes other than the Borrower shall not have given a Notice of Conversion or Continuation to conditions set forth in Section 3.2, the Administrative Agent pursuant to and in accordance with this Section 2.2, then the Type and Class of the Advances shall automatically be Continued and, in the case of Eurodollar Advances, shall be for an Interest Period of the same duration as the Interest Period then ending; provided that such Interest Period is otherwise permitted under this Agreement (and if such Interest Period is not so permitted then such Advance shall be Converted into an Adjusted Base Rate Advance). Notwithstanding anything in this Agreement to the contrary, Conversions of Eurodollar Advances may only be made effective at the end of the applicable Interest Period for such Advances; provided, however, that Conversions of Adjusted Base Rate Advances may be made at any time upon the requisite advance notice. The portion of Revolving Advances comprising part of the same Borrowing that are Converted to Advances of another Type in the same Class of Advances shall constitute a new Borrowing of the same ClassBorrowing.

Appears in 2 contracts

Samples: Credit Agreement (Rowan Companies PLC), Credit Agreement (Rowan Companies PLC)

Conversions and Continuations. In order to elect to Convert or Continue Term continue Advances comprising part of the same Borrowing under this Section, the Borrower shall deliver an irrevocable Notice of Conversion or Continuation to the Administrative Agent at its Applicable Lending Office the Administrative Agent’s office no later than 12:00 noon (i) 12:00 p.m. (New York, New York time) (i) on the date which is at least [__________]* three (3) Business Days in advance of such requested the proposed Conversion or continuation date in the case of a Conversion to or a continuation of a Borrowing comprised of Eurodollar Advance to an Adjusted Base Rate Advance (or vice versa), or Advances and (ii) 12:00 p.m. (New York time) at least [__________]* in advance of such requested Conversion on the Business Day prior to the proposed conversion date in the case of a Conversion into or Continuation to a Borrowing comprised of Eurodollar Advances to other Eurodollar Adjusted Base Rate Advances. Each such Notice of Conversion or Continuation shall be in writing or by telextelecopier, telecopier or telephone, confirmed promptly in writing specifying (Ai) the requested Conversion or Continuation continuation date (which shall be a Business Day), (Bii) the Borrowing amount, Type and Class of the Advances to be Converted or Continuedcontinued, (Ciii) whether a Conversion or Continuation continuation is requested, and if a Conversion, into what Type of Advances of the same ClassAdvances, and (Div) in the case of a Conversion to, or a Continuation continuation of, Eurodollar Rate Advances, the requested Interest Period(s)Period. Promptly after receipt of a Notice of Conversion or Continuation under this paragraph, the Administrative Agent shall thereafter promptly provide each Lender with a copy thereof and, in the case of a Conversion to or a Continuation continuation of Eurodollar Rate Advances, promptly notify each Lender of the applicable interest rate under Section 2.5(a)(ii) after its determination2.06(b). If the Borrower shall not have given a Notice of Conversion or Continuation fail to the Administrative Agent pursuant to and in accordance with this Section 2.2, then the Type and Class of the Advances shall automatically be Continued and, in the case of Eurodollar Advances, shall be for specify an Interest Period for a Eurodollar Rate Advance including the continuation of a Eurodollar Rate Advance, the same duration as the Interest Period then ending; provided that such Interest Period is otherwise permitted under this Agreement (and if such Interest Period is not so permitted then such Advance Borrower shall be Converted into deemed to have selected an Adjusted Base Rate Advance). Notwithstanding anything in this Agreement to the contrary, Conversions of Eurodollar Advances may only be made effective at the end of the applicable Interest Period for such Advances; provided, however, that Conversions of Adjusted Base Rate Advances may be made at any time upon the requisite advance notice. The portion of Advances comprising part of the same Borrowing that are Converted to Advances of another Type in the same Class of Advances shall constitute a new Borrowing of the same Class.

Appears in 2 contracts

Samples: Senior Secured Credit Agreement (Interstate Hotels & Resorts Inc), Secured Credit Agreement (Interstate Hotels & Resorts Inc)

Conversions and Continuations. In order to elect to Convert or Continue Term continue Advances comprising part of the same Revolving Borrowing under this Section, the Borrower shall deliver an irrevocable Notice of Conversion or Continuation to the Administrative Agent at its Applicable Lending Office the Administrative Agent’s office (i) no later than 10:00 a.m. (i) 12:00 p.m. (New York Houston, Texas time) at least [__________]* in advance of such requested Conversion on the proposed conversion date in the case of a Conversion of a Eurodollar Advance such Advances to an Adjusted Base Rate Advance (or vice versa)Advances, or (ii) no later than 12:00 p.m. (New York Houston, Texas time) at least [__________]* three Business Days in advance of such requested the proposed Conversion or continuation date in the case of a Conversion into to, or Continuation a continuation of, Eurocurrency Rate Advances denominated in Dollars; and (iii) no later than 12:00 p.m. (Houston, Texas time) at least four Business Days in advance of Eurodollar the proposed Conversion or continuation date in the case of a Conversion to, or a continuation of, Eurocurrency Rate Advances to other Eurodollar Advancesdenominated in Foreign Currencies. Each such Notice of Conversion or Continuation shall be in writing by telephone or facsimile, and if by telex, telecopier or telephone, confirmed promptly in writing (which confirmation may be provided by facsimile or with a “PDF” file delivered in an e-mail with a return acknowledgment requested), specifying (A) the requested Conversion or Continuation continuation date (which shall be a Business Day), (B) the amount, Borrowing amount and Type and Class of the Advances to be Converted or Continuedcontinued, (C) whether a Conversion or Continuation continuation is requested, and if a Conversion, into what Type of Advances of the same ClassAdvances, and (D) in the case of a Conversion to, or a Continuation continuation of, Eurodollar Eurocurrency Rate Advances, the requested Interest Period(s)Period. Promptly after receipt of a Notice of Conversion or Continuation under this paragraph, the Administrative Agent shall thereafter promptly provide each Lender with a copy thereof and, in the case of a Conversion to or a Continuation continuation of Eurodollar Eurocurrency Rate Advances, promptly notify each Lender of the applicable interest rate under Section 2.5(a)(ii) after its determination. If the Borrower shall not have given a Notice of Conversion or Continuation to the Administrative Agent pursuant to and in accordance with this Section 2.2, then the Type and Class of the Advances shall automatically be Continued and, in the case of Eurodollar Advances, shall be for an Interest Period of the same duration as the Interest Period then ending; provided that such Interest Period is otherwise permitted under this Agreement (and if such Interest Period is not so permitted then such Advance shall be Converted into an Adjusted Base Rate Advance2.6(b). Notwithstanding anything For purposes other than the conditions set forth in this Agreement to Section 3.3, the contrary, Conversions of Eurodollar Advances may only be made effective at the end of the applicable Interest Period for such Advances; provided, however, that Conversions of Adjusted Base Rate Advances may be made at any time upon the requisite advance notice. The portion of Revolving Advances comprising part of the same Revolving Borrowing that are Converted to Revolving Advances of another Type in the same Class of Advances shall constitute a new Borrowing of the same ClassRevolving Borrowing.

Appears in 2 contracts

Samples: Credit Agreement (NOW Inc.), Credit Agreement (NOW Inc.)

Conversions and Continuations. In order to elect to Convert or Continue Term Advances continue a Revolving Advance under this Section, the Borrower shall deliver an irrevocable Notice of Continuation or Conversion or Continuation to the Administrative Agent at its Applicable Lending the Administrative Agent’s Office no later than 11:00 a.m. (Houston, Texas time) (i) 12:00 p.m. (New York time) at least [__________]* one Business Day in advance of such requested the proposed Conversion date in the case of a Conversion of to a Eurodollar Advance to an Adjusted Base Rate Advance (or vice versa), or and (ii) 12:00 p.m. (New York time) at least [__________]* three Business Days in advance of such requested the proposed Conversion or continuation date in the case of a Conversion into to, or Continuation of a continuation of, a Eurodollar Advances to other Eurodollar AdvancesAdvance. Each such Notice of continuation or Conversion or Continuation shall be in writing or by telexfacsimile or by electronic mail (with a PDF file of the executed Notice of Continuation or Conversion attached), telecopier or telephone, confirmed promptly in writing specifying (Ai) the requested Conversion or Continuation continuation date (which shall be a Business Day), (Bii) the amount, Type Type, and Class of the Advances Advance to be Converted or Continuedcontinued, (Ciii) whether a Conversion or Continuation continuation is requestedrequested and, and if a Conversion, into what Type of Advances of the same ClassAdvance (including, if applicable, whether such Advance is a Revolving Tranche A Advance, Tranche B Term Advance or a Tranche C Term Advance), and (Div) in the case of a Conversion to, or a Continuation continuation of, a Eurodollar AdvancesAdvance, the requested Interest Period(s)Period. Promptly after receipt of a Notice of Continuation or Conversion or Continuation under this paragraph, the Administrative Agent shall thereafter promptly provide each Lender with a copy thereof and, in the case of a Conversion to or a Continuation continuation of a Eurodollar AdvancesAdvance, promptly notify each Lender of the applicable interest rate under Section 2.5(a)(ii) after its determination. If the Borrower shall not have given a Notice of Conversion or Continuation to the Administrative Agent pursuant to and in accordance with this Section 2.2, then the Type and Class of the Advances shall automatically be Continued and, in the case of Eurodollar Advances, shall be for an Interest Period of the same duration as the Interest Period then ending; provided that such Interest Period is otherwise permitted under this Agreement (and if such Interest Period is not so permitted then such Advance shall be Converted into an Adjusted Base Rate Advance2.9(b). Notwithstanding anything For purposes other than the conditions set forth in this Agreement to Section 3.2, the contrary, Conversions of Eurodollar Advances may only be made effective at the end of the applicable Interest Period for such Advances; provided, however, that Conversions of Adjusted Base Rate Advances may be made at any time upon the requisite advance notice. The portion of Advances comprising part of the same Borrowing that are Converted to Advances of another Type in the same Class of Advances shall constitute a new Borrowing of the same ClassBorrowing.

Appears in 2 contracts

Samples: Credit Agreement (Nine Energy Service, Inc.), Credit Agreement (Nine Energy Service, Inc.)

Conversions and Continuations. In order to elect to Convert or Continue Term continue Advances comprising part of the same Revolving Borrowing under this Section, the Borrower shall deliver an irrevocable Notice of Conversion or Continuation to the Administrative Agent at its Applicable Lending Office the Administrative Agent’s office no later than 12:00 p.m. (Houston, Texas time) (i) 12:00 p.m. (New York time) at least [__________]* one Business Day in advance of such requested Conversion the proposed conversion date in the case of a Conversion of a Eurodollar Advance such Advances to an Adjusted Base Prime Rate Advance (or vice versa)Advances, or (ii) 12:00 p.m. (New York time) at least [__________]* three Business Days in advance of such requested the proposed Conversion or continuation date in the case of a Conversion into to, or Continuation a continuation of, Eurocurrency Rate Advances denominated in Dollars; and (iii) at least four Business Days in advance of Eurodollar the proposed Conversion or continuation date in the case of a Conversion to, or a continuation of, Eurocurrency Rate Advances to other Eurodollar Advancesdenominated in Foreign Currencies. Each such Notice of Conversion or Continuation shall be in writing by telephone or telecopier, and if by telex, telecopier or telephone, confirmed promptly in writing (which confirmation may be provided by telecopier or with a “PDF” file delivered in an e-mail with a return acknowledgment requested), specifying (A) the requested Conversion or Continuation continuation date (which shall be a Business Day), (B) the amount, Borrowing amount and Type and Class of the Advances to be Converted or Continuedcontinued, (C) whether a Conversion or Continuation continuation is requested, and if a Conversion, into what Type of Advances of the same ClassAdvances, and (D) in the case of a Conversion to, or a Continuation continuation of, Eurodollar Eurocurrency Rate Advances, the requested Interest Period(s)Period. Promptly after receipt of a Notice of Conversion or Continuation under this paragraph, the Administrative Agent shall thereafter promptly provide each Lender with a copy thereof and, in the case of a Conversion to or a Continuation continuation of Eurodollar Eurocurrency Rate Advances, promptly notify each Lender of the applicable interest rate under Section 2.5(a)(ii) after its determination. If the Borrower shall not have given a Notice of Conversion or Continuation to the Administrative Agent pursuant to and in accordance with this Section 2.2, then the Type and Class of the Advances shall automatically be Continued and, in the case of Eurodollar Advances, shall be for an Interest Period of the same duration as the Interest Period then ending; provided that such Interest Period is otherwise permitted under this Agreement (and if such Interest Period is not so permitted then such Advance shall be Converted into an Adjusted Base Rate Advance2.6(b). Notwithstanding anything For purposes other than the conditions set forth in this Agreement to Section 3.2, the contrary, Conversions of Eurodollar Advances may only be made effective at the end of the applicable Interest Period for such Advances; provided, however, that Conversions of Adjusted Base Rate Advances may be made at any time upon the requisite advance notice. The portion of Revolving Advances comprising part of the same Revolving Borrowing that are Converted to Revolving Advances of another Type in the same Class of Advances shall constitute a new Borrowing of the same ClassRevolving Borrowing.

Appears in 2 contracts

Samples: Year Credit Agreement (National Oilwell Varco Inc), 364 Day Credit Agreement (National Oilwell Varco Inc)

Conversions and Continuations. In order to elect to Convert or Continue Term continue Advances comprising part of the same Revolving Borrowing under this Section, the Borrower shall deliver an irrevocable Notice of Conversion or Continuation to the Administrative Agent at its Applicable Lending Office the Administrative Agent’s office no later than 12:00 p.m. (Houston, Texas time) (i) 12:00 p.m. (New York time) at least [__________]* one Business Day in advance of such requested Conversion the proposed conversion date in the case of a Conversion of a Eurodollar Advance such Advances to an Adjusted Base Prime Rate Advance (or vice versa), or Advances and (ii) 12:00 p.m. (New York time) at least [__________]* three Business Days in advance of such requested the proposed Conversion or continuation date in the case of a Conversion into to, or Continuation of a continuation of, Eurodollar Advances to other Eurodollar Rate Advances. Each such Notice of Conversion or Continuation shall be in writing or by telextelecopier, telecopier or telephone, confirmed promptly in writing specifying (A) the requested Conversion or Continuation continuation date (which shall be a Business Day), (B) the amount, Borrowing amount and Type and Class of the Advances to be Converted or Continuedcontinued, (C) whether a Conversion or Continuation continuation is requested, and if a Conversion, into what Type of Advances of the same ClassAdvances, and (D) in the case of a Conversion to, or a Continuation continuation of, Eurodollar Rate Advances, the requested Interest Period(s)Period. Revolving Advances may only be Converted or continued as Revolving Advances. Swingline Advances may not be Converted or continued. Promptly after receipt of a Notice of Conversion or Continuation under this paragraph, the Administrative Agent shall thereafter promptly provide each Lender Bank with a copy thereof and, in the case of a Conversion to or a Continuation continuation of Eurodollar Rate Advances, promptly notify each Lender Bank of the applicable interest rate under Section 2.5(a)(ii) after its determination. If the Borrower shall not have given a Notice of Conversion or Continuation to the Administrative Agent pursuant to and in accordance with this Section 2.2, then the Type and Class of the Advances shall automatically be Continued and, in the case of Eurodollar Advances, shall be for an Interest Period of the same duration as the Interest Period then ending; provided that such Interest Period is otherwise permitted under this Agreement (and if such Interest Period is not so permitted then such Advance shall be Converted into an Adjusted Base Rate Advance2.6(b). Notwithstanding anything For purposes other than the conditions set forth in this Agreement to Section 3.2, the contrary, Conversions of Eurodollar Advances may only be made effective at the end of the applicable Interest Period for such Advances; provided, however, that Conversions of Adjusted Base Rate Advances may be made at any time upon the requisite advance notice. The portion of Revolving Advances comprising part of the same Revolving Borrowing that are Converted to Revolving Advances of another Type in the same Class of Advances shall constitute a new Borrowing of the same ClassRevolving Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Varco International Inc /De/)

Conversions and Continuations. In order to elect to Convert or Continue Term Advances an Advance under this Section, the Borrower desiring a Conversion or Continuation shall deliver an irrevocable Notice of Conversion or Continuation to the Administrative Agent at its Applicable Lending Office the Agent's office no later than (i) 12:00 p.m. 11:00 a.m. (New York Dallas, Texas time) at least [__________]* in advance the Business Day of such requested Conversion date in the case of a Conversion of to a Eurodollar Advance to an Adjusted U.S. Base Rate Advance (or vice versa)Advance, or (ii) 12:00 p.m. 11:00 a.m. (New York Dallas, Texas time) at least [__________]* three Business Days in advance of such requested Conversion or Continuation date in the case of a Conversion into to, or a Continuation of, a Eurodollar Rate Advance, or (iii) 11:00 a.m. (Paris, France time) at least three Business Days in advance of such requested Conversion or Continuation date in the case of Eurodollar Advances to other Eurodollar Advancesa Conversion to, or Continuation of, a Eurocurrency Rate Advance. Each such Notice of Conversion or Continuation shall be in writing or by telex, telecopier or telephone, confirmed promptly in writing specifying (A) the requested Conversion or Continuation date (which shall be a Business Day), (B) the amount, Type Type, and Class of the Advances Advance to be Converted or Continued, (C) whether a Conversion or Continuation is requested, and if a Conversion, into what Type of Advances of the same ClassAdvance, and (D) in the case of a Conversion to, or a Continuation of, Eurodollar Advancesa Fixed Rate Advance, the requested Interest Period(s)Period. Promptly after receipt of a Notice of Conversion or Continuation under this paragraph, the Administrative Agent shall thereafter promptly provide each Lender Bank with a copy thereof and, in the case of a Conversion to or a Continuation of Eurodollar Advancesa Fixed Rate Advance, promptly notify each Lender Bank of the applicable interest rate under Section 2.5(a)(iiSections 2.06(c) after its determination. If the Borrower shall not have given a Notice of Conversion or Continuation to the Administrative Agent pursuant to and in accordance with this Section 2.22.06(d), then the Type and Class of the Advances shall automatically be Continued and, in the case of Eurodollar Advances, shall be for an Interest Period of the same duration as the Interest Period then ending; provided that such Interest Period is otherwise permitted under this Agreement (and if such Interest Period is not so permitted then such Advance shall be Converted into an Adjusted Base Rate Advance). Notwithstanding anything in this Agreement to the contrary, Conversions of Eurodollar Advances may only be made effective at the end of the applicable Interest Period for such Advances; provided, however, that Conversions of Adjusted Base Rate Advances may be made at any time upon the requisite advance noticeapplicable. The portion of Advances comprising part of the same Borrowing that are Converted converted to Advances of another Type in the same Class of Advances shall constitute a new Borrowing Borrowing. Notwithstanding anything in this Agreement to the contrary, Conversions of Advances may only be made at the end of the same Classapplicable Interest Period for such Advances.

Appears in 1 contract

Samples: Schweitzer Mauduit International Inc

Conversions and Continuations. In order to A Borrower may elect to Convert or Continue Term Advances any Borrowing under this Section, the Borrower shall deliver Section 2.02 by delivering an irrevocable Notice of Conversion or Continuation from the Borrower Representative to the Administrative Agent at its Applicable Lending Office the Administrative Agent’s office (sent by hand delivery, fax or sent by electronic communication (e-mail) (or by telephone notice promptly confirmed by a written, fax or electronic communication (e-mail)) no later than (i) 12:00 p.m. noon (New York, New York time) on the date which is at least [__________]* three (3) U.S. Government Securities Business Days in advance of such requested the proposed Conversion or Continuation date in the case of a Conversion to or a Continuation of a Eurodollar Advance to an Adjusted Base Rate Advance (or vice versa), or Borrowing comprised of SOFR Advances and (ii) 12:00 p.m. noon (New York, New York time) at least [__________]* in advance on the date of such requested the proposed Conversion date in the case of a Conversion into or Continuation to a Borrowing comprised of Eurodollar Advances to other Eurodollar Base Rate Advances. Each such Notice of Conversion or Continuation shall be in writing or by telex, telecopier or telephone, confirmed promptly in writing specifying (A) the requested Conversion or Continuation date (which shall be a Business Day), (B) the amount, Type and Class of the Advances to be Converted or Continued, (C) whether a Conversion or Continuation is requested, and if a Conversion, into what Type of Advances of the same Class, and (D) in the case of a Conversion to, or a Continuation of, Eurodollar Advances, the requested Interest Period(s). Promptly after receipt of a Notice of Conversion or Continuation under this paragraphSection 2.02(b), the Administrative Agent shall thereafter promptly provide each Lender with a copy thereof and, in the case of a Conversion to or a Continuation of Eurodollar a Borrowing comprised of SOFR Advances, promptly notify each Lender of the applicable interest rate under Section 2.5(a)(ii) after its determination. If the Borrower shall not have given a Notice of Conversion or Continuation to the Administrative Agent pursuant to and in accordance with this Section 2.2, then the Type and Class of the Advances shall automatically be Continued and, in the case of Eurodollar Advances, shall be for an Interest Period of the same duration as the Interest Period then ending; provided that such Interest Period is otherwise permitted under this Agreement (and if such Interest Period is not so permitted then such Advance shall be Converted into an Adjusted Base Rate Advance2.08(b). Notwithstanding anything in this Agreement to the contrary, Conversions of Eurodollar SOFR Advances may only be made effective at the end of the applicable Interest Period for such Advances; provided, however, that Conversions of Adjusted Base Rate Advances may be made at any time upon the requisite advance noticetime. The portion of Advances comprising part of the same Borrowing that are Converted converted to Advances of another Type in the same Class of Advances shall constitute a new Borrowing of Borrowing. Notwithstanding the same Class.foregoing, Swingline Loans may not be Converted or Continued. lvi

Appears in 1 contract

Samples: Credit Agreement (CorEnergy Infrastructure Trust, Inc.)

Conversions and Continuations. In order to elect to Convert or Continue Term Advances a Revolving Advance under this Section, the Borrower shall deliver an irrevocable Notice of Conversion or Continuation to the Administrative Agent at its Applicable Lending Office no later than (i) 12:00 p.m. (New York time) at least [__________]* one Business Day in advance of such requested Conversion date in the case of a Conversion of a Eurodollar Advance to an Adjusted a Base Rate Advance (or vice versa), or (ii) 12:00 p.m. (New York time) at least [__________]* three Business Days in advance of such requested Conversion date in the case of a Conversion into of a Base Rate Advance into, or Continuation of a Eurodollar Advances to other Advance to, a Eurodollar AdvancesAdvance. Each such Notice of Conversion or Continuation shall be in writing or by telex, telecopier or telephone, confirmed promptly in writing specifying (A) the requested Conversion or Continuation date (which shall be a Business Day), (B) the amount, Type and Class of the Advances Revolving Advance to be Converted or Continued, (C) whether a Conversion or Continuation is requested, and if a Conversion, into what Type of Advances of the same ClassRevolving Advance, and (D) in the case of a Conversion of a Base Rate Advance to, or a Continuation of, a Eurodollar AdvancesAdvance, the requested Interest Period(s)Period. Promptly after receipt of a Notice of Conversion or Continuation under this paragraph, the Administrative Agent shall thereafter promptly provide each Lender with a copy thereof and of such Lender’s Pro Rata Share thereof and, in the case of a Conversion to or a Continuation of a Eurodollar AdvancesAdvance, promptly notify the Borrower and each Lender of the interest rate under Section 2.5(a)(ii) after its determination. If the Borrower shall not have given a Notice of Conversion or Continuation to the Administrative Agent pursuant to and in accordance with this Section 2.2, then the Type and Class of the Advances shall automatically be Continued and, in the case of Eurodollar Advances, shall be for an Interest Period of the same duration as the Interest Period then ending; provided that such Interest Period is otherwise permitted under this Agreement (and if such Interest Period is not so permitted then such Advance shall be Converted into an Adjusted Base Rate Advance2.06(a)(ii). Notwithstanding anything in this Agreement to the contrary, Conversions of Eurodollar Advances may only be made effective at the end of the applicable Interest Period for such Revolving Advances; provided, however, that Conversions of Adjusted Base Rate Advances may be made at any time upon the requisite advance noticetime. The portion of Revolving Advances comprising part of the same Borrowing that are Converted converted to Revolving Advances of another Type in the same Class of Advances shall constitute a new Borrowing of the same ClassBorrowing.

Appears in 1 contract

Samples: Pledge Agreement (Seahawk Drilling, Inc.)

Conversions and Continuations. In order to elect to Convert or Continue continue a Revolving Advance or a Term Advances Advance under this Sectionparagraph, the Borrower shall deliver an irrevocable Notice of Continuation or Conversion or Continuation to the Administrative Agent at its Applicable Lending Office the Administrative Agent’s office (A) no later than 11:00 a.m. (Houston, Texas time) (i) 12:00 p.m. (New York time) at least [__________]* in advance on the Business Day before the date of such requested the proposed Conversion date in the case of a Conversion of to a Eurodollar Advance to an Adjusted US Base Rate Advance (or vice versa)Advance, or and (ii) 12:00 p.m. (New York time) at least [__________]* three Business Days in advance of such requested the proposed Conversion or continuation date in the case of a Conversion to, or a continuation of, a Eurocurrency Advance or a B/A Advance and (B) no later than 10:00 a.m. (Houston, Texas time) on the Business Day before the date of the proposed Conversion date in the case of a Conversion into or Continuation of Eurodollar Advances to other Eurodollar Advancesa Canadian Base Rate Advance. Each such Notice of Conversion or Continuation shall be in writing or by telex, telecopier or telephone, telex or facsimile confirmed promptly in writing by the Borrower with a hard copy (other than with respect to notice sent by facsimile), specifying (Ai) the requested Conversion or Continuation continuation date (which shall be a Business Day), (Bii) the amount, Type and Class of the Advances Advance to be Converted or Continuedcontinued, (Ciii) whether a Conversion or Continuation continuation is requestedrequested and, and if a Conversion, into what Type of Advances of the same ClassAdvance, and (Div) in the case of a Conversion to, or a Continuation continuation of, Eurodollar Advancesa Eurocurrency Advance, the requested Interest Period(s)Period and (v) in the case of a Conversion to, or a continuation of, a B/A Advance, the requested Contract Period. Promptly after receipt of a Notice of Continuation or Conversion or Continuation under this paragraph, the Administrative Agent shall thereafter promptly provide each Lender with a copy thereof and, in the case of a Conversion to or a Continuation continuation of Eurodollar Advancesa Eurocurrency Advance, promptly notify each Lender of the applicable interest rate under Section 2.5(a)(ii) after its determination. If the Borrower shall not have given a Notice of Conversion or Continuation to the Administrative Agent pursuant to and in accordance with this Section 2.2, then the Type and Class of the Advances shall automatically be Continued and, in the case of Eurodollar Advances, shall be for an Interest Period of the same duration as the Interest Period then ending; provided that such Interest Period is otherwise permitted under this Agreement (and if such Interest Period is not so permitted then such Advance shall be Converted into an Adjusted Base Rate Advance2.8(b). Notwithstanding anything in this Agreement to the contrary, Conversions of Eurodollar Advances may only be made effective at the end of the applicable Interest Period for such Advances; provided, however, that Conversions of Adjusted Base Rate Advances may be made at any time upon the requisite advance notice. The portion of Advances comprising part of the same Borrowing that are Converted to Advances of another Type in the same Class of Advances shall constitute a new Borrowing of the same ClassBorrowing.

Appears in 1 contract

Samples: Credit Agreement (NCS Multistage Holdings, Inc.)

Conversions and Continuations. In order to elect to Convert or Continue Term continue Advances comprising part of the same Revolving Borrowing under this Section, the Borrower shall deliver an irrevocable Notice of Conversion or Continuation to the Administrative Agent at its Applicable Lending Office the Administrative Agent’s office no later than 12:00 p.m. (Houston, Texas time) (i) 12:00 p.m. (New York time) at least [__________]* one Business Day in advance of such requested Conversion the proposed conversion date in the case of a Conversion of a Eurodollar Advance such Advances to an Adjusted Base Rate Advance (or vice versa)Advances, or (ii) 12:00 p.m. (New York time) at least [__________]* three Business Days in advance of such requested the proposed Conversion or continuation date in the case of a Conversion into to, or Continuation a continuation of, Eurocurrency Rate Advances denominated in Dollars; and (iii) at least four Business Days in advance of Eurodollar the proposed Conversion or continuation date in the case of a Conversion to, or a continuation of, Eurocurrency Rate Advances to other Eurodollar Advancesdenominated in Foreign Currencies. Each such Notice of Conversion or Continuation shall be in writing by telephone or facsimile, and if by telex, telecopier or telephone, confirmed promptly in writing (which confirmation may be provided by facsimile or with a “PDF” file delivered in an e-mail with a return acknowledgment requested), specifying (A) the requested Conversion or Continuation continuation date (which shall be a Business Day), (B) the amount, Borrowing amount and Type and Class of the Advances to be Converted or Continuedcontinued, (C) whether a Conversion or Continuation continuation is requested, and if a Conversion, into what Type of Advances of the same ClassAdvances, and (D) in the case of a Conversion to, or a Continuation continuation of, Eurodollar Eurocurrency Rate Advances, the requested Interest Period(s)Period. Promptly after receipt of a Notice of Conversion or Continuation under this paragraph, the Administrative Agent shall thereafter promptly provide each Lender with a copy thereof and, in the case of a Conversion to or a Continuation continuation of Eurodollar Eurocurrency Rate Advances, promptly notify each Lender of the applicable interest rate under Section 2.5(a)(ii) after its determination. If the Borrower shall not have given a Notice of Conversion or Continuation to the Administrative Agent pursuant to and in accordance with this Section 2.2, then the Type and Class of the Advances shall automatically be Continued and, in the case of Eurodollar Advances, shall be for an Interest Period of the same duration as the Interest Period then ending; provided that such Interest Period is otherwise permitted under this Agreement (and if such Interest Period is not so permitted then such Advance shall be Converted into an Adjusted Base Rate Advance2.6(b). Notwithstanding anything For purposes other than the conditions set forth in this Agreement to Section 3.2, the contrary, Conversions of Eurodollar Advances may only be made effective at the end of the applicable Interest Period for such Advances; provided, however, that Conversions of Adjusted Base Rate Advances may be made at any time upon the requisite advance notice. The portion of Revolving Advances comprising part of the same Revolving Borrowing that are Converted to Revolving Advances of another Type in the same Class of Advances shall constitute a new Borrowing of the same ClassRevolving Borrowing.

Appears in 1 contract

Samples: Assignment and Assumption (National Oilwell Varco Inc)

Conversions and Continuations. In order to elect to Convert or Continue Term ----------------------------- continue Advances comprising part of the same Borrowing under this Section, the Borrower shall deliver an irrevocable Notice of Conversion or Continuation to the Administrative Agent at its Applicable Lending Office the Administrative Agent's office no later than 11:00 a.m. (Dallas, Texas time) (i) 12:00 p.m. (New York time) on the date which is at least [__________]* three Business Days in advance of such requested the proposed Conversion or continuation date in the case of a Conversion to or a continuation of a Eurodollar Advance to an Adjusted Base Rate Advance (or vice versa), or Borrowing comprised of LIBOR Advances and (ii) 12:00 p.m. (New York time) at least [__________]* in advance of such requested Conversion on the Business Day prior to the proposed conversion date in the case of a Conversion into or Continuation to a Borrowing comprised of Eurodollar Advances to other Eurodollar Adjusted Base Rate Advances. Each such Notice of Conversion or Continuation shall be in writing or by telextelecopier, telecopier or telephone, confirmed promptly in writing specifying (Ai) the requested Conversion or Continuation continuation date (which shall be a Business Day), (Bii) the Borrowing amount, Type and Class of the Advances to be Converted or Continuedcontinued, (Ciii) whether a Conversion or Continuation continuation is requested, and if a Conversion, into what Type of Advances of the same ClassAdvances, and (Div) in the case of a Conversion to, or a Continuation continuation of, Eurodollar LIBOR Advances, the requested Interest Period(s)Period. Promptly after receipt of a Notice of Conversion or Continuation under this paragraph, the Administrative Agent shall thereafter promptly provide each Lender with a copy thereof and, in the case of a Conversion to or a Continuation continuation of Eurodollar LIBOR Advances, promptly notify each Lender of the applicable interest rate under Section 2.5(a)(ii) after its determination2.06(b). If the Borrower shall not have given a Notice of Conversion or Continuation fail to the Administrative Agent pursuant to and in accordance with this Section 2.2, then the Type and Class of the Advances shall automatically be Continued and, in the case of Eurodollar Advances, shall be for specify an Interest Period for a LIBOR Advance including the continuation of a LIBOR Advance, the same duration as the Interest Period then ending; provided that such Interest Period is otherwise permitted under this Agreement (and if such Interest Period is not so permitted then such Advance Borrower shall be Converted into deemed to have selected an Adjusted Base Rate Advance). Notwithstanding anything in this Agreement to the contrary, Conversions of Eurodollar Advances may only be made effective at the end of the applicable Interest Period for such Advances; provided, however, that Conversions of Adjusted Base Rate Advances may be made at any time upon the requisite advance notice. The portion of Advances comprising part of the same Borrowing that are Converted to Advances of another Type in the same Class of Advances shall constitute a new Borrowing of the same Class.

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Meristar Hotels & Resorts Inc)

Conversions and Continuations. In order to elect to Convert or Continue Term continue Advances comprising part of the same Revolving Borrowing under this Section, the Borrower shall deliver an irrevocable Notice of Conversion or Continuation to the Administrative Agent at its Applicable Lending Office the Administrative Agent’s office (i) no later than 10:00 a.m. (i) 12:00 p.m. (New York Houston, Texas time) at least [__________]* in advance of such requested on the proposed Conversion date in the case of a Conversion of a Eurodollar Advance such Advances to an Adjusted Base Rate Advance (or vice versa)Advances, or (ii) no later than 12:00 p.m. (New York Houston, Texas time) at least [__________]* three Business Days in advance of such requested the proposed Conversion or continuation date in the case of a Conversion into to, or Continuation a continuation of, Eurocurrency Rate Advances denominated in Dollars; and (iii) no later than 12:00 p.m. (Houston, Texas time) at least four Business Days in advance of Eurodollar the proposed Conversion or continuation date in the case of a Conversion to, or a continuation of, Eurocurrency Rate Advances to other Eurodollar Advancesdenominated in Foreign Currencies. Each such Notice of Conversion or Continuation shall be in writing by telephone or facsimile, and if by telex, telecopier or telephone, confirmed promptly in writing (which confirmation may be provided by facsimile or with a “PDF” file delivered in an e-mail with a return acknowledgment requested), specifying (A) the requested Conversion or Continuation continuation date (which shall be a Business Day), (B) the amount, Borrowing amount and Type and Class of the Advances to be Converted or Continuedcontinued, (C) whether a Conversion or Continuation continuation is requested, and if a Conversion, into what Type of Advances of the same ClassAdvances, and (D) in the case of a Conversion to, or a Continuation continuation of, Eurodollar Eurocurrency Rate Advances, the requested Interest Period(s)Period. Promptly after receipt of a Notice of Conversion or Continuation under this paragraph, the Administrative Agent shall thereafter promptly provide each Lender with a copy thereof and, in the case of a Conversion to or a Continuation continuation of Eurodollar Eurocurrency Rate Advances, promptly notify each Lender of the applicable interest rate under Section 2.5(a)(ii) after its determination. If the Borrower shall not have given a Notice of Conversion or Continuation to the Administrative Agent pursuant to and in accordance with this Section 2.2, then the Type and Class of the Advances shall automatically be Continued and, in the case of Eurodollar Advances, shall be for an Interest Period of the same duration as the Interest Period then ending; provided that such Interest Period is otherwise permitted under this Agreement (and if such Interest Period is not so permitted then such Advance shall be Converted into an Adjusted Base Rate Advance2.6(b). Notwithstanding anything For purposes other than the conditions set forth in this Agreement to Section 3.2, the contrary, Conversions of Eurodollar Advances may only be made effective at the end of the applicable Interest Period for such Advances; provided, however, that Conversions of Adjusted Base Rate Advances may be made at any time upon the requisite advance notice. The portion of Revolving Advances comprising part of the same Revolving Borrowing that are Converted to Revolving Advances of another Type in the same Class of Advances shall constitute a new Borrowing of the same ClassRevolving Borrowing.

Appears in 1 contract

Samples: Credit Agreement (National Oilwell Varco Inc)

Conversions and Continuations. In order to elect to Convert or Continue Term Advances the Loans under this Section, the Borrower shall deliver an irrevocable Notice of Conversion or Continuation to the Administrative Agent at its Applicable Lending Office no later than (i) 12:00 p.m. 11:00 a.m. (New York time) at least [__________]* one Business Day in advance of such requested Conversion date in the case of a Conversion of a Eurodollar Advance Loan to an Adjusted a Base Rate Advance (or vice versa), Loan or (ii) 12:00 p.m. 11:00 a.m. (New York time) at least [__________]* three Business Days in advance of such requested Conversion date in the case of a Conversion of a Base Rate Loan into a Eurodollar Loan or in the case of a Continuation of a Eurodollar Advances to other Eurodollar AdvancesLoan. Each such Notice of Conversion or Continuation shall be in writing or by telextelecopier, telecopier electronic mail, or telephone, confirmed promptly in writing specifying (A) the requested Conversion or Continuation date (which shall be a Business Day), (B) the amount, amount and Type and Class of the Advances Loan to be Converted or Continued, (C) whether a Conversion or Continuation is requested, and if a Conversion, into what Type of Advances of the same ClassLoan, and (D) in the case of a Conversion to, or a Continuation of, a Eurodollar AdvancesLoan, the requested Interest Period(s)Period. Promptly after receipt of a Notice of Conversion or Continuation under this paragraph, the Administrative Agent shall thereafter promptly provide each Lender with a copy thereof and, in the case of a Conversion to or a Continuation of a Eurodollar AdvancesLoan, promptly notify each Lender of the interest rate under Section 2.5(a)(ii) after its determination. If the Borrower shall not have given a Notice of Conversion or Continuation to the Administrative Agent pursuant to and in accordance with this Section 2.2, then the Type and Class of the Advances shall automatically be Continued and, in the case of Eurodollar Advances, shall be for an Interest Period of the same duration as the Interest Period then ending; provided that such Interest Period is otherwise permitted under this Agreement (and if such Interest Period is not so permitted then such Advance shall be Converted into an Adjusted Base Rate Advance2.6(b). Notwithstanding anything in this Agreement to the contrary, Conversions of Eurodollar Advances Loans may only be made effective at the end of the applicable Interest Period for such AdvancesLoans; provided, however, that Conversions of Adjusted Base Rate Advances Loans may be made at any time upon the requisite advance notice. The portion of Advances comprising part of the same Borrowing that are Converted to Advances of another Type in the same Class of Advances shall constitute a new Borrowing of the same Classtime.

Appears in 1 contract

Samples: Revolving Credit Agreement (McDermott International Inc)

Conversions and Continuations. In order to elect to Convert or Continue Term continue Advances comprising part of the same Borrowing under this Section, the Borrower shall deliver an irrevocable Notice of Conversion or Continuation to the Administrative Agent at its Applicable Lending Office the Administrative Agent’s office no later than 12:00 noon (i) 12:00 p.m. (New York, New York time) (i) on the date which is at least [__________]* three (3) Business Days in advance of such requested the proposed Conversion or continuation date in the case of a Conversion to or a continuation of a Borrowing comprised of Eurodollar Advance to an Adjusted Base Rate Advance (or vice versa), or Advances and (ii) 12:00 p.m. (New York time) at least [__________]* in advance of such requested Conversion on the Business Day prior to the proposed conversion date in the case of a Conversion into or Continuation to a Borrowing comprised of Eurodollar Advances to other Eurodollar Adjusted Base Rate Advances. Each such Notice of Conversion or Continuation shall be in writing or by telextelecopier, telecopier or telephone, confirmed promptly in writing specifying (Ai) the requested Conversion or Continuation continuation date (which shall be a Business Day), (Bii) the Borrowing amount, Type and Class of the Advances to be Converted or Continuedcontinued, (Ciii) whether a Conversion or Continuation continuation is requested, and if a Conversion, into what Type of Advances of the same ClassAdvances, and (Div) in the case of a Conversion to, or a Continuation continuation of, Eurodollar Rate Advances, the requested Interest Period(s)Period. Promptly after receipt of a Notice of Conversion or Continuation under this paragraph, the Administrative Agent shall thereafter promptly provide each Lender with a copy thereof and, in the case of a Conversion to or a Continuation continuation of Eurodollar Rate Advances, promptly notify each Lender of the applicable interest rate under Section 2.5(a)(ii) after its determination2.06(a)(ii). If the Borrower shall not have given a Notice of Conversion or Continuation fail to the Administrative Agent pursuant to and in accordance with this Section 2.2, then the Type and Class of the Advances shall automatically be Continued and, in the case of Eurodollar Advances, shall be for specify an Interest Period for a Eurodollar Rate Advance including the continuation of a Eurodollar Rate Advance, the same duration as the Interest Period then ending; provided that such Interest Period is otherwise permitted under this Agreement (and if such Interest Period is not so permitted then such Advance Borrower shall be Converted into deemed to have selected an Adjusted Base Rate Advance). Notwithstanding anything in this Agreement to the contrary, Conversions of Eurodollar Advances may only be made effective at the end of the applicable Interest Period for such Advances; provided, however, that Conversions of Adjusted Base Rate Advances may be made at any time upon the requisite advance notice. The portion of Advances comprising part of the same Borrowing that are Converted to Advances of another Type in the same Class of Advances shall constitute a new Borrowing of the same Class.

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Interstate Hotels & Resorts Inc)

Conversions and Continuations. In order to elect to Convert or Continue Term continue Advances comprising part of the same Borrowing under this Section, the Borrower shall deliver an irrevocable Notice of Conversion or Continuation to the Administrative Agent at its Applicable Lending Office the Administrative Agent's office no later than 11:00 a.m. (Dallas, Texas time) (i) 12:00 p.m. (New York time) on the date which is at least [__________]* three (3) Business Days in advance of such requested the proposed Conversion or continuation date in the case of a Conversion to or a continuation of a Borrowing comprised of Eurodollar Advance to an Adjusted Base Rate Advance (or vice versa)AdvanceS, or (ii) 12:00 p.m. (New York time) on the date which is at least [__________]* four (4) Business Days in advance of such requested the proposed Conversion or continuation date in the case of a Conversion into to or Continuation a continuation of Eurodollar a Borrowing comprised of Alternate Currency Swing Line Advances and (iii) on the Business Day prior to other Eurodollar the proposed conversion date in the case of a Conversion to a Borrowing comprised of Adjusted Base Rate Advances. Each such Notice of Conversion or Continuation shall be in writing or by telextelecopier, telecopier or telephone, confirmed promptly in writing specifying (Ai) the requested Conversion or Continuation continuation date (which shall be a Business Day), (Bii) the Borrowing amount, Type and Class of the Advances to be Converted or Continuedcontinued, (Ciii) whether a Conversion or Continuation continuation is requested, and if a Conversion, into what Type of Advances of the same ClassAdvances, and (Div) in the case of a Conversion to, or a Continuation continuation of, Eurodollar Rate Advances or Alternate Currency Swing Line Advances, the requested Interest Period(s)Period. Promptly after receipt of a Notice of Conversion or Continuation under this paragraph, the Administrative Agent shall thereafter promptly provide each Lender with a copy thereof and, in the case of a Conversion to or a Continuation continuation of Eurodollar Rate Advances, promptly notify each Lender of the applicable interest rate under Section 2.5(a)(ii) after its determination2.06(b). If the Borrower shall not have given a Notice of Conversion or Continuation fail to the Administrative Agent pursuant to and in accordance with this Section 2.2, then the Type and Class of the Advances shall automatically be Continued and, in the case of Eurodollar Advances, shall be for specify an Interest Period for a Eurodollar Rate Advance or Alternate Currency Swing Line Advance including the continuation of a Eurodollar Rate Advance or Alternate Currency Swing Line Advances, the same duration as the Interest Period then ending; provided that such Interest Period is otherwise permitted under this Agreement (and if such Interest Period is not so permitted then such Advance Borrower shall be Converted into deemed to have selected an Adjusted Base Rate Advance). Notwithstanding anything in this Agreement to the contrary, Conversions of Eurodollar Advances may only be made effective at the end of the applicable Interest Period for such Advances; provided, however, that Conversions of Adjusted Base Rate Advances may be made at any time upon the requisite advance notice. The portion of Advances comprising part of the same Borrowing that are Converted to Advances of another Type in the same Class of Advances shall constitute a new Borrowing of the same Class.

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Interstate Hotels & Resorts Inc)

Conversions and Continuations. In order to elect to Convert or Continue continue a Term Advances Advance or a Revolving Advance under this Sectionparagraph, the Borrower shall deliver an irrevocable Notice of Continuation or Conversion or Continuation to the Administrative Agent at its Applicable Lending Office the Administrative Agent’s office no later than 11:00 a.m. (Houston, Texas time) (i) 12:00 p.m. (New York time) at least [__________]* in advance on the Business Day before the date of such requested Conversion the proposed conversion date in the case of a Conversion of to a Eurodollar Advance to an Adjusted Base Rate Advance (or vice versa), or and (ii) 12:00 p.m. (New York time) at least [__________]* three Business Days in advance of such requested the proposed Conversion or continuation date in the case of a Conversion into to, or Continuation of a continuation of, a Eurodollar Advances to other Eurodollar AdvancesAdvance. Each such Notice of Conversion or Continuation shall be in writing or sent by telexfacsimile, telecopier or telephonehand delivery, confirmed promptly in writing or, unless otherwise required by the Administrative Agent prior to such delivery, electronic mail (PDF), specifying (Ai) the requested Conversion or Continuation continuation date (which shall be a Business Day), (Bii) the amount, Type Type, and Class of the Advances Advance to be Converted or Continuedcontinued, (Ciii) whether a Conversion or Continuation continuation is requestedrequested and, and if a Conversion, into what Type of Advances of the same ClassAdvance, and (Div) in the case of a Conversion to, or a Continuation continuation of, a Eurodollar AdvancesAdvance, the requested Interest Period(s)Period. Promptly after receipt of a Notice of Conversion or Continuation under this paragraph, the Administrative Agent shall thereafter promptly provide each Revolving Lender (in the case of any Conversion or continuation of a Revolving Borrowing) or each Term Lender (in the case of any Conversion or continuation of a Term Borrowing) with a copy thereof and, in the case of a Conversion to or a Continuation of a Eurodollar AdvancesAdvance, promptly notify each such Lender of the applicable interest rate under Section 2.5(a)(ii) after its determination. If the Borrower shall not have given a Notice of Conversion or Continuation to the Administrative Agent pursuant to and in accordance with this Section 2.2, then the Type and Class of the Advances shall automatically be Continued and, in the case of Eurodollar Advances, shall be for an Interest Period of the same duration as the Interest Period then ending; provided that such Interest Period is otherwise permitted under this Agreement (and if such Interest Period is not so permitted then such Advance shall be Converted into an Adjusted Base Rate Advance2.8(b). Notwithstanding anything in this Agreement to the contrary, Conversions of Eurodollar Advances may only be made effective at the end of the applicable Interest Period for such Advances; provided, however, that Conversions of Adjusted Base Rate Advances may be made at any time upon the requisite advance notice. The portion of Advances comprising part of the same Borrowing that are Converted converted to Advances of another Type in the same Class of Advances shall constitute a new Borrowing of the same ClassBorrowing.

Appears in 1 contract

Samples: Credit Agreement (Oceaneering International Inc)

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Conversions and Continuations. In order The Borrower shall have ----------------------------- the right from time to elect time to Convert all or part of one Type of Advance (excluding Swing Line Advances) into another Type of Advance or to Continue Term Advances under this Section, all or part of any Eurodollar Advance or any Alternate Currency Advance by giving the Borrower shall deliver Agent written notice (by means of an irrevocable Notice of Conversion or Continuation to the Administrative Agent at its Applicable Lending Office no later than (i) 12:00 p.m. (New York timeAdvance Request Form) at least [__________]* in advance of such requested one Business Day before Conversion date in the case of into a Conversion of a Eurodollar Advance to an Adjusted Base Floating Rate Advance (or vice versa)Advance, or (ii) 12:00 p.m. (New York time) and at least [__________]* in advance of such requested Conversion date in the case of a three Business Days before Conversion into or Continuation of a Eurodollar Advances to other Eurodollar Advances. Each such Notice of Advance or an Alternate Currency Advance, specifying: (i) the Conversion or Continuation shall be in writing or by telexdate, telecopier or telephone, confirmed promptly in writing specifying (Aii) the requested Conversion or Continuation date (which shall be a Business Day), (B) the amount, Type and Class amount of the Advances Advance to be Converted or Continued, (Ciii) whether a Conversion or Continuation is requestedin the case of Conversions, and if a Conversion, into what the Type of Advances Advance to be Converted into, (iv) in the case of Alternate Currency Advances, the same Classrequested Alternate Currency, and (Dv) in the case of a Continuation of or Conversion tointo a Eurodollar Advance or an Alternate Currency Advance, or a Continuation ofthe duration of the Interest Period applicable thereto; provided that (a) Eurodollar Advances and Alternate Currency Advances may only be Converted on the last day of the Interest Period, Eurodollar (b) except for Conversions to Floating Rate Advances, the requested Interest Period(s). Promptly after receipt no Conversions shall be made while a Default or Event of Default has occurred and is continuing and no Continuations of any Eurodollar Advances or any Alternate Currency Advances shall be made while a Notice Default or an Event of Default has occurred and is continuing, unless such Conversion or Continuation has been approved by Required Banks, (c) the aggregate principal amount of Eurodollar Advances having the same Interest Period shall be at least equal to $1,000,000 and (d) the aggregate principal amount of Alternate Currency Advances having the same Interest Period shall be at least equal to the Equivalent Amount of $1,000,000. All notices given under this paragraphSection shall be irrevocable and shall be given not later than 11:00 A.M. Dallas, the Administrative Agent shall thereafter promptly provide each Lender with a copy thereof and, Texas time (or 11:00 A.M. London time in the case of a Conversion to or a Continuation Alternate Currency Advances) on the day which is not less than the number of Eurodollar Advances, promptly notify each Lender of the interest rate under Section 2.5(a)(ii) after its determinationBusiness Days specified above for such notice. If the Borrower shall not have given fail to give the Agent the notice as specified above for Continuation or Conversion of a Notice of Conversion or Continuation Eurodollar Advance prior to the Administrative Agent pursuant to and in accordance with this Section 2.2, then the Type and Class end of the Advances Interest Period with respect thereto, such Eurodollar Advance shall automatically be Continued andConverted into a Floating Rate Advance on the last day of the Interest Period for such Eurodollar Advance. If Borrower shall fail to give the Agent notice as specified above for the Continuation or Conversion of an Alternate Currency Advance prior to the end of the Interest Period with respect thereto, in the case of Eurodollar Advances, such Alternate Currency Advance shall be Continued for an Interest Period of the same duration as the Interest Period then endingone month; provided provided, however, that such Interest Period is otherwise permitted under this Agreement (and if such Interest Period is not so permitted then such no Alternate Currency Advance shall be Continued as such if a Default or Event of Default has occurred and continuing but in such event shall instead be Converted into an Adjusted Base to a Floating Rate Advance). Notwithstanding anything Advance in this Agreement to the contrary, Conversions of Eurodollar Advances may only be made effective Dollars at the end of the applicable Interest Period for such Advances; provided, however, that Conversions of Adjusted Base Rate Advances may be made at any time upon the requisite advance notice. The portion of Advances comprising part of the same Borrowing that are Converted to Advances of another Type in the same Class of Advances shall constitute a new Borrowing of the same ClassPeriod.

Appears in 1 contract

Samples: Credit Agreement (Cellstar Corp)

Conversions and Continuations. In order to elect to Convert or Continue Term Advances continue an Advance under this Sectionparagraph, the Borrower shall deliver an irrevocable Notice of Continuation or Conversion or Continuation to the Administrative Agent at its Applicable Lending Office the Administrative Agent’s office no later than 12:00 noon (Houston, Texas time) (i) 12:00 p.m. (New York time) at least [__________]* in advance on the Business Day before the date of such requested Conversion the proposed conversion date in the case of a Conversion of to a Eurodollar Advance to an Adjusted Base Rate Advance (or vice versa), or and (ii) 12:00 p.m. (New York time) at least [__________]* three Business Days in advance of such requested the proposed Conversion or continuation date in the case of a Conversion into to, or Continuation of a continuation of, a Eurodollar Advances Advance; provided that, if Conversions to other Eurodollar Advances, if any, are to be made on the Effective Date, such Conversions shall be made pursuant to the applicable Notice of Continuation or Conversion given not later than 12:00 noon (Houston, Texas time) on the second Business Day before the Effective Date. Each such Notice of Conversion or Continuation shall be in writing or by telex, telecopier telex or telephone, facsimile confirmed promptly in writing by the Borrower with a hard copy (other than with respect to notice sent by facsimile), specifying (Ai) the requested Conversion or Continuation continuation date (which shall be a Business Day), (Bii) the amount, Type Type, and Class of the Advances Advance to be Converted or Continuedcontinued, (Ciii) whether a Conversion or Continuation continuation is requestedrequested and, and if a Conversion, into what Type of Advances of the same ClassAdvance, and (Div) in the case of a Conversion to, or a Continuation continuation of, a Eurodollar AdvancesAdvance, the requested Interest Period(s)Period. Promptly after receipt of a Notice of Conversion or Continuation under this paragraph, the Administrative Agent shall thereafter promptly provide each Lender with a copy thereof and, in the case of a Conversion to or a Continuation of a Eurodollar AdvancesAdvance, promptly notify each Lender of the applicable interest rate under Section 2.5(a)(ii) after its determination. If the Borrower shall not have given a Notice of Conversion or Continuation to the Administrative Agent pursuant to and in accordance with this Section 2.2, then the Type and Class of the Advances shall automatically be Continued and, in the case of Eurodollar Advances, shall be for an Interest Period of the same duration as the Interest Period then ending; provided that such Interest Period is otherwise permitted under this Agreement (and if such Interest Period is not so permitted then such Advance shall be Converted into an Adjusted Base Rate Advance2.8(b). Notwithstanding anything in this Agreement to the contrary, Conversions of Eurodollar Advances may only be made effective at the end of the applicable Interest Period for such Advances; provided, however, that Conversions of Adjusted Base Rate Advances may be made at any time upon the requisite advance notice. The portion of Advances comprising part of the same Borrowing that are Converted to Advances of another Type in the same Class of Advances shall constitute a new Borrowing of the same ClassBorrowing.

Appears in 1 contract

Samples: Credit Agreement (Forum Energy Technologies, Inc.)

Conversions and Continuations. In order to elect to Convert or Continue Term Advances continue a US Advance or a Canadian Advance under this Sectionparagraph, the applicable Borrower shall deliver an irrevocable Notice of Continuation or Conversion or Continuation to the applicable Administrative Agent at its Applicable Lending Office the applicable Administrative Agent’s office (A) no later than 11:00 a.m. (Houston, Texas time) (i) 12:00 p.m. (New York time) at least [__________]* in advance on the Business Day before the date of such requested the proposed Conversion date in the case of a Conversion of to a Eurodollar Advance to an Adjusted US Base Rate Advance (or vice versa)Advance, or (ii) 12:00 p.m. (New York time) at least [__________]* in advance on the Business Day before the date of such requested the proposed Conversion date in the case of a Conversion into to a Canadian (US) Base Rate Advance, (iii) at least three Business Days in advance of the proposed Conversion or Continuation continuation date in the case of Eurodollar Advances a Conversion to, or a continuation of, a Eurocurrency Advance or a B/A Advance and (B) no later than 10:00 a.m. (Houston, Texas time) on the Business Day before the date of the proposed Conversion date in the case of a Conversion to other Eurodollar Advancesa Canadian (Cdn) Base Rate Advance. Each such Notice of Conversion or Continuation shall be in writing or by telex, telecopier or telephone, telex or facsimile confirmed promptly in writing by the applicable Borrower with a hard copy (other than with respect to notice sent by facsimile), specifying (Ai) the requested Conversion or Continuation continuation date (which shall be a Business Day), (Bii) the amount, Type and Class of the Advances Advance to be Converted or Continuedcontinued, (Ciii) whether a Conversion or Continuation continuation is requestedrequested and, and if a Conversion, into what Type of Advances of the same ClassAdvance, and (Div) in the case of a Conversion to, or a Continuation continuation of, Eurodollar Advancesa Eurocurrency Advance, the requested Interest Period(s)Period and (v) in the case of a Conversion to, or a continuation of, a B/A Advance, the requested Contract Period. Promptly after receipt of a Notice of Continuation or Conversion or Continuation under this paragraph, the applicable Administrative Agent shall thereafter promptly provide each Lender with a copy thereof and, in the case of a Conversion to or a Continuation continuation of Eurodollar Advancesa Eurocurrency Advance, promptly notify each Lender of the applicable interest rate under Section 2.5(a)(ii) after its determination. If the Borrower shall not have given a Notice of Conversion or Continuation to the Administrative Agent pursuant to and in accordance with this Section 2.2, then the Type and Class of the Advances shall automatically be Continued and, in the case of Eurodollar Advances, shall be for an Interest Period of the same duration as the Interest Period then ending; provided that such Interest Period is otherwise permitted under this Agreement (and if such Interest Period is not so permitted then such Advance shall be Converted into an Adjusted Base Rate Advance2.8(b). Notwithstanding anything in this Agreement to the contrary, Conversions of Eurodollar Advances may only be made effective at the end of the applicable Interest Period for such Advances; provided, however, that Conversions of Adjusted Base Rate Advances may be made at any time upon the requisite advance notice. The portion of Advances comprising part of the same Borrowing that are Converted to Advances of another Type in the same Class of Advances shall constitute a new Borrowing of the same ClassBorrowing.

Appears in 1 contract

Samples: Credit Agreement (NCS Multistage Holdings, Inc.)

Conversions and Continuations. In order to elect to Convert or Continue Term continue Advances comprising part of the same Revolving Borrowing under this Section, the Borrower shall deliver an irrevocable Notice of Conversion or Continuation to the Administrative Agent at its Applicable Lending Office the Administrative Agent’s office (i) no later than 10:00 a.m. (i) 12:00 p.m. (New York Houston, Texas time) at least [__________]* in advance of such requested on the proposed Conversion date in the case of a Conversion of a Eurodollar Advance such Advances to an Adjusted Base Rate Advance (or vice versa)Advances, or (ii) no later than 12:00 p.m. (New York Houston, Texas time) at least [__________]* three Business Days in advance of such requested the proposed Conversion or continuation date in the case of a Conversion into to, or Continuation a continuation of, Term SOFR Advances; (iii) no later than 12:00 p.m. (Houston, Texas time) at least four Business Days in advance of Eurodollar the proposed Conversion or continuation date in the case of a Conversion to, or a continuation of, Eurocurrency Rate Advances to other Eurodollar Advancesdenominated in Foreign Currencies; and (iv) no later than 12:00 p.m. (Houston, Texas time) at least five Business Days in advance of the proposed Conversion or continuation date in the case of a Conversion to, or a continuation of, Adjusted Daily Simple RFR Advances denominated in any Agreed Currency that is a Foreign Currency. Each such Notice of Conversion or Continuation shall be in writing by telephone or facsimile, and if by telex, telecopier or telephone, confirmed promptly in writing (which confirmation may be provided by facsimile or with a “PDF” file delivered in an e-mail with a return acknowledgment requested), specifying (A) the requested Conversion or Continuation continuation date (which shall be a Business Day), (B) the amount, Borrowing amount and Type and Class of the Advances to be Converted or Continuedcontinued, (C) whether a Conversion or Continuation continuation is requested, and if a Conversion, into what Type of Advances of the same ClassAdvances, and (D) in the case of a Conversion to, or a Continuation continuation of, Eurodollar Eurocurrency Rate Advances or Term SOFR Advances, the requested Interest Period(s)Period. Promptly after receipt of a Notice of Conversion or Continuation under this paragraph, the Administrative Agent shall thereafter promptly provide each Lender with a copy thereof and, in the case of a Conversion to or a Continuation continuation of Eurodollar Eurocurrency Rate Advances or Adjusted Daily Simple RFR Advances, promptly notify each Lender of the applicable interest rate under Section 2.5(a)(ii2.6(b) after its determinationor Section 2.6(c), as applicable. If For purposes other than the Borrower shall not have given a Notice of Conversion or Continuation to conditions set forth in Section 3.2, the Administrative Agent pursuant to and in accordance with this Section 2.2, then the Type and Class of the Advances shall automatically be Continued and, in the case of Eurodollar Advances, shall be for an Interest Period of the same duration as the Interest Period then ending; provided that such Interest Period is otherwise permitted under this Agreement (and if such Interest Period is not so permitted then such Advance shall be Converted into an Adjusted Base Rate Advance). Notwithstanding anything in this Agreement to the contrary, Conversions of Eurodollar Advances may only be made effective at the end of the applicable Interest Period for such Advances; provided, however, that Conversions of Adjusted Base Rate Advances may be made at any time upon the requisite advance notice. The portion of Revolving Advances comprising part of the same Revolving Borrowing that are Converted to Revolving Advances of another Type in the same Class of Advances shall constitute a new Borrowing of the same ClassRevolving Borrowing.

Appears in 1 contract

Samples: Year Credit Agreement (NOV Inc.)

Conversions and Continuations. In order to elect to Convert or Continue Term Advances continue a US Advance or a Canadian Advance under this Sectionparagraph, the applicable Borrower shall deliver an irrevocable Notice of 58 Continuation or Conversion or Continuation to the applicable Administrative Agent at its Applicable Lending Office the applicable Administrative Agent’s office (A) no later than 11:00 a.m. (Houston, Texas time) (i) 12:00 p.m. (New York time) at least [__________]* in advance on the Business Day before the date of such requested the proposed Conversion date in the case of a Conversion of to a Eurodollar Advance to an Adjusted US Base Rate Advance (or vice versa)Advance, or (ii) 12:00 p.m. (New York time) at least [__________]* in advance on the Business Day before the date of such requested the proposed Conversion date in the case of a Conversion into to a Canadian (US) Base Rate Advance, (iii) at least three Business Days in advance of the proposed Conversion or Continuation continuation date in the case of Eurodollar Advances a Conversion to, or a continuation of, a Eurocurrency Advance or a B/A Advance and (B) no later than 10:00 a.m. (Houston, Texas time) on the Business Day before the date of the proposed Conversion date in the case of a Conversion to other Eurodollar Advancesa Canadian (Cdn) Base Rate Advance. Each such Notice of Conversion or Continuation shall be in writing or by telex, telecopier or telephone, telex or facsimile confirmed promptly in writing by the applicable Borrower with a hard copy (other than with respect to notice sent by facsimile), specifying (Ai) the requested Conversion or Continuation continuation date (which shall be a Business Day), (Bii) the amount, Type and Class of the Advances Advance to be Converted or Continuedcontinued, (Ciii) whether a Conversion or Continuation continuation is requestedrequested and, and if a Conversion, into what Type of Advances of the same ClassAdvance, and (Div) in the case of a Conversion to, or a Continuation continuation of, Eurodollar Advancesa Eurocurrency Advance, the requested Interest Period(s)Period and (v) in the case of a Conversion to, or a continuation of, a B/A Advance, the requested Contract Period. Promptly after receipt of a Notice of Continuation or Conversion or Continuation under this paragraph, the applicable Administrative Agent shall thereafter promptly provide each Lender with a copy thereof and, in the case of a Conversion to or a Continuation continuation of Eurodollar Advancesa Eurocurrency Advance, promptly notify each Lender of the applicable interest rate under Section 2.5(a)(ii) after its determination. If the Borrower shall not have given a Notice of Conversion or Continuation to the Administrative Agent pursuant to and in accordance with this Section 2.2, then the Type and Class of the Advances shall automatically be Continued and, in the case of Eurodollar Advances, shall be for an Interest Period of the same duration as the Interest Period then ending; provided that such Interest Period is otherwise permitted under this Agreement (and if such Interest Period is not so permitted then such Advance shall be Converted into an Adjusted Base Rate Advance2.8(b). Notwithstanding anything in this Agreement to the contrary, Conversions of Eurodollar Advances may only be made effective at the end of the applicable Interest Period for such Advances; provided, however, that Conversions of Adjusted Base Rate Advances may be made at any time upon the requisite advance notice. The portion of Advances comprising part of the same Borrowing that are Converted to Advances of another Type in the same Class of Advances shall constitute a new Borrowing of the same ClassBorrowing.

Appears in 1 contract

Samples: Credit Agreement (NCS Multistage Holdings, Inc.)

Conversions and Continuations. In order to elect to Convert or Continue Term Advances continue a US Advance or a Canadian Advance under this Sectionparagraph, the applicable Borrower shall deliver an irrevocable Notice of Continuation or Conversion or Continuation to the applicable Administrative Agent at its Applicable Lending Office the applicable Administrative Agent’s office (A) no later than 11:00 a.m. (Houston, Texas time) (i) 12:00 p.m. (New York time) at least [__________]* in advance on the Business Day before the date of such requested the proposed Conversion date in the case of a Conversion of to a Eurodollar Advance to an Adjusted US Base Rate Advance (or vice versa)Advance, or (ii) 12:00 p.m. (New York time) at least [__________]* in advance on the Business Day before the date of such requested the proposed Conversion date in the case of a Conversion into to a Canadian (US) Base Rate Advance, (iii) at least three Business Days in advance of the proposed Conversion or Continuation continuation date in the case of Eurodollar Advances a Conversion to, or a continuation of, a Eurocurrency Advance or a B/A Advance and (B) no later than 10:00 a.m. (Houston, Texas time) on the Business Day before the date of the proposed Conversion date in the case of a Conversion to other Eurodollar Advancesa Canadian (Cdn) Base Rate Advance. Each such Notice of Conversion or Continuation shall be in writing or by telex, telecopier or telephone, telex or facsimile confirmed promptly in writing by the applicable Borrower with a hard copy (other than with respect to notice sent by facsimile), specifying (Ai) the requested Conversion or Continuation continuation date (which shall be a Business Day), (Bii) the amount, Type and Class of the Advances Advance to be Converted or Continuedcontinued, (Ciii) whether a Conversion or Continuation continuation is requestedrequested and, and if a Conversion, into what Type of Advances of the same ClassAdvance, and (Div) in the case of a Conversion to, or a Continuation continuation of, Eurodollar Advancesa Eurocurrency Advance, the requested Interest Period(s)Period and (v) in the case of a Conversion to, or a continuation of, a B/A Advance, the requested Contract Period. Promptly after receipt of a Notice of Continuation or Conversion or Continuation under this paragraph, the applicable Administrative Agent shall thereafter promptly provide each Lender with a copy thereof and, in the case of a Conversion to or a Continuation continuation of Eurodollar Advancesa Eurocurrency Advance, promptly notify each Lender of the applicable interest rate under Section 2.5(a)(ii) after its determination. If the Borrower shall not have given a Notice of Conversion or Continuation to the Administrative Agent pursuant to and in accordance with this Section 2.2, then the Type and Class of the Advances shall automatically be Continued and, in the case of Eurodollar Advances, shall be for an Interest Period of the same duration as the Interest Period then ending; provided that such Interest Period is otherwise permitted under this Agreement (and if such Interest Period is not so permitted then such Advance shall be Converted into an Adjusted Base Rate Advance2.8(b). Notwithstanding anything in this Agreement to the contrary, Conversions of Eurodollar Advances may only be made effective at the end of the applicable Interest Period for such Advances; provided, however, that Conversions of Adjusted Base Rate Advances may be made at any time upon the requisite advance notice. The portion of Advances comprising part of the same Borrowing that are Converted to Advances of another Type in the same Class of Advances shall constitute a new Borrowing of the same Class.Borrowing. 60

Appears in 1 contract

Samples: Credit Agreement (NCS Multistage Holdings, Inc.)

Conversions and Continuations. In order to elect to Convert or Continue Term continue Advances comprising part of the same Revolving Borrowing under this Section, the Borrower shall deliver an irrevocable Notice of Conversion or Continuation to the Administrative Agent at its Applicable Lending Office the Administrative Agent’s office (i) no later than 10:00 a.m. (i) 12:00 p.m. (New York Houston, Texas time) at least [__________]* in advance of such requested Conversion on the proposed conversion date in the case of a Conversion of a Eurodollar Advance such Advances to an Adjusted Base Rate Advance (or vice versa)Advances, or (ii) no later than 12:00 p.m. (New York Houston, Texas time) at least [__________]* three Business Days in advance of such requested the proposed Conversion or continuation date in the case of a Conversion into to, or Continuation a continuation of, Eurocurrency Rate Advances denominated in Dollars; and (iii) no later than 12:00 p.m. (Houston, Texas time) at least four Business Days in advance of Eurodollar the proposed Conversion or continuation date in the case of a Conversion to, or a continuation of, Eurocurrency Rate Advances to other Eurodollar Advancesdenominated in Foreign Currencies. Each such Notice of Conversion or Continuation shall be in writing by telephone or facsimile, and if by telex, telecopier or telephone, confirmed promptly in writing (which confirmation may be provided by facsimile or with a “PDF” file delivered in an e-mail with a return acknowledgment requested), specifying (A) the requested Conversion or Continuation continuation date (which shall be a Business Day), (B) the amount, Borrowing amount and Type and Class of the Advances to be Converted or Continuedcontinued, (C) whether a Conversion or Continuation continuation is requested, and if a Conversion, into what Type of Advances of the same ClassAdvances, and (D) in the case of a Conversion to, or a Continuation continuation of, Eurodollar Eurocurrency Rate Advances, the requested Interest Period(s)Period. Promptly after receipt of a Notice of Conversion or Continuation under this paragraph, the Administrative Agent shall thereafter promptly provide each Lender with a copy thereof and, in the case of a Conversion to or a Continuation continuation of Eurodollar Eurocurrency Rate Advances, promptly notify each Lender of the applicable interest rate under Section 2.5(a)(ii) after its determination. If the Borrower shall not have given a Notice of Conversion or Continuation to the Administrative Agent pursuant to and in accordance with this Section 2.2, then the Type and Class of the Advances shall automatically be Continued and, in the case of Eurodollar Advances, shall be for an Interest Period of the same duration as the Interest Period then ending; provided that such Interest Period is otherwise permitted under this Agreement (and if such Interest Period is not so permitted then such Advance shall be Converted into an Adjusted Base Rate Advance2.6(b). Notwithstanding anything For purposes other than the conditions set forth in this Agreement to Section 3.2, the contrary, Conversions of Eurodollar Advances may only be made effective at the end of the applicable Interest Period for such Advances; provided, however, that Conversions of Adjusted Base Rate Advances may be made at any time upon the requisite advance notice. The portion of Revolving Advances comprising part of the same Revolving Borrowing that are Converted to Revolving Advances of another Type in the same Class of Advances shall constitute a new Borrowing of the same ClassRevolving Borrowing.

Appears in 1 contract

Samples: Assignment and Assumption (National Oilwell Varco Inc)

Conversions and Continuations. In order to elect to Convert or Continue continue a CapEx Advance, Term Advances Advance or a Revolving Advance under this Sectionparagraph, the Borrower shall deliver an irrevocable Notice of Continuation or Conversion or Continuation to the Administrative Agent at its Applicable Lending Office the Administrative Agent’s office no later than 11:00 a.m. (Houston, Texas time) (i) 12:00 p.m. (New York time) at least [__________]* in advance on the Business Day before the date of such requested Conversion the proposed conversion date in the case of a Conversion of to a Eurodollar Advance to an Adjusted Base Rate Advance (or vice versa), or and (ii) 12:00 p.m. (New York time) at least [__________]* three Business Days in advance of such requested the proposed Conversion or continuation date in the case of a Conversion into to, or Continuation of a continuation of, a Eurodollar Advances to other Eurodollar AdvancesAdvance. Each such Notice of Conversion or Continuation shall be in writing sent by facsimile or by telexelectronic mail as an attachment thereto, telecopier or telephone, confirmed promptly in writing specifying (Ai) the requested Conversion or Continuation continuation date (which shall be a Business Day), (Bii) the amount, Type Type, and Class of the Advances Advance to be Converted or Continuedcontinued, (Ciii) whether a Conversion or Continuation continuation is requestedrequested and, and if a Conversion, into what Type of Advances of the same ClassAdvance, and (Div) in the case of a Conversion to, or a Continuation continuation of, a Eurodollar AdvancesAdvance, the requested Interest Period(s)Period. Promptly after receipt of a Notice of Continuation or Conversion or Continuation under this paragraph, the Administrative Agent shall thereafter promptly provide each Lender with a copy thereof and, in the case of a Conversion to or a Continuation of a Eurodollar AdvancesAdvance, promptly notify each Lender of the applicable interest rate under Section 2.5(a)(ii) after its determination. If the Borrower shall not have given a Notice of Conversion or Continuation to the Administrative Agent pursuant to and in accordance with this Section 2.2, then the Type and Class of the Advances shall automatically be Continued and, in the case of Eurodollar Advances, shall be for an Interest Period of the same duration as the Interest Period then ending; provided that such Interest Period is otherwise permitted under this Agreement (and if such Interest Period is not so permitted then such Advance shall be Converted into an Adjusted Base Rate Advance2.7(b). Notwithstanding anything in this Agreement to the contrary, Conversions of Eurodollar Advances may only be made effective at the end of the applicable Interest Period for such Advances; provided, however, that Conversions of Adjusted Base Rate Advances may be made at any time upon the requisite advance notice. The portion of Advances comprising part of the same Borrowing that are Converted to Advances of another Type in the same Class of Advances shall constitute a new Borrowing of Borrowing. Notwithstanding anything to the same Classcontrary contained herein, (i) on October 15, 2015, the Borrower shall Convert any Eurodollar Advances then outstanding to Base Rate Advances and (ii) the Borrower shall not Convert any Base Rate Advance to a Eurodollar Advances from and after the Amendment No. 2 Effective Date.

Appears in 1 contract

Samples: Credit Agreement (Aly Energy Services, Inc.)

Conversions and Continuations. In order to elect to Convert or Continue Term Advances continue a US Advance or a Canadian Advance under this Sectionparagraph, the applicable Borrower shall deliver an irrevocable Notice of Continuation or Conversion or Continuation to the applicable Administrative Agent at its Applicable Lending Office the applicable Administrative Agent’s office (A) no later than 11:00 a.m. (Houston, Texas time) (i) 12:00 p.m. (New York time) at least [__________]* in advance on the Business Day before the date of such requested the proposed Conversion date in the case of a Conversion of to a Eurodollar Advance to an Adjusted US Base Rate Advance (or vice versa)Advance, or (ii) 12:00 p.m. (New York time) at least [__________]* in advance on the Business Day before the date of such requested the proposed Conversion date in the case of a Conversion into to a Canadian (US) Base Rate Advance, (iii) at least three Business Days in advance of the proposed Conversion or Continuation continuation date in the case of Eurodollar Advances a Conversion to, or a continuation of, a Eurocurrency Advance or a B/A Advance and (B) no later than 10:00 a.m. (Houston, Texas time) on the Business Day before the date of the proposed Conversion date in the case of a Conversion to other Eurodollar Advancesa Canadian (Cdn) Base Rate Advance. Each such Notice of Conversion or Continuation shall be in writing or by telex, telecopier or telephone, telex or facsimile confirmed promptly in writing by the applicable Borrower with a hard copy (other than with respect to notice sent by facsimile), specifying (Ai) the requested Conversion or Continuation continuation date (which shall be a Business Day), (Bii) the amount, Type and Class of the Advances Advance to be Converted or Continuedcontinued, (Ciii) whether a Conversion or Continuation continuation is requestedrequested and, and if a Conversion, into what Type of Advances of the same ClassAdvance, and (Div) in the case of a Conversion to, or a Continuation continuation of, Eurodollar Advancesa Eurocurrency Advance, the requested Interest Period(s)Period and (v) in the case of a Conversion to, or a continuation of, a B/A Advance, the requested Contract Period. Promptly after receipt of a Notice of Continuation or Conversion or Continuation under this paragraph, the applicable Administrative Agent shall thereafter promptly provide each Lender with a copy thereof and, in the case of a Conversion to or a Continuation continuation of Eurodollar Advancesa Eurocurrency Advance, promptly notify each Lender of the applicable interest rate under Section 2.5(a)(ii) after its determination. If the Borrower shall not have given a Notice of Conversion or Continuation to the Administrative Agent pursuant to and in accordance with this Section 2.2, then the Type and Class of the Advances shall automatically be Continued and, in the case of Eurodollar Advances, shall be for an Interest Period of the same duration as the Interest Period then ending; provided that such Interest Period is otherwise permitted under this Agreement (and if such Interest Period is not so permitted then such Advance shall be Converted into an Adjusted Base Rate Advance2.8(b). Notwithstanding anything in this Agreement to the contrary, Conversions of Eurodollar Advances may only be made effective at the end of the applicable Interest Period for such Advances; provided, however, that Conversions of Adjusted Base Rate Advances may be made at any time upon the requisite advance notice. The portion of Advances comprising 60 part of the same Borrowing that are Converted to Advances of another Type in the same Class of Advances shall constitute a new Borrowing of the same ClassBorrowing.

Appears in 1 contract

Samples: Credit Agreement (NCS Multistage Holdings, Inc.)

Conversions and Continuations. In order to elect to Convert or Continue Term continue Advances comprising part of the same Borrowing under this Section, the Borrower shall deliver an irrevocable Notice of Conversion or Continuation to the Administrative Agent at its Applicable Lending Office the Administrative Agent’s office no later than 12:00 p.m. (Houston, Texas time) (i) 12:00 p.m. (New York time) at least [__________]* one Business Day in advance of such requested the proposed Conversion date in the case of a Conversion of a Eurodollar Advance such Advances to an Adjusted Base Rate Advance (or vice versa)Advances, or and (ii) 12:00 p.m. (New York time) at least [__________]* three Business Days in advance of such requested the proposed Conversion or continuation date in the case of a Conversion into to, or Continuation of Eurodollar Advances to other a continuation of, Eurodollar Advances. Each such Notice of Conversion or Continuation shall be in writing or by telexfacsimile, telecopier or telephone, confirmed promptly in writing specifying (A) the requested Conversion or Continuation continuation date (which shall be a Business Day), (B) the amount, Borrowing amount and Type and Class of the Advances to be Converted or Continuedcontinued, (C) whether a Conversion or Continuation continuation is requested, and if a Conversion, into what Type of Advances of the same ClassAdvances, and (D) in the case of a Conversion to, or a Continuation continuation of, Eurodollar Advances, the requested Interest Period(s)Period. Promptly after receipt of a Notice of Conversion or Continuation under this paragraph, the Administrative Agent shall thereafter promptly provide each applicable Lender with a copy thereof and, in the case of a Conversion to or a Continuation continuation of Eurodollar Advances, promptly notify each applicable Lender of the applicable interest rate under Section 2.5(a)(ii) after its determination. If the Borrower shall not have given a Notice of Conversion or Continuation to the Administrative Agent pursuant to and in accordance with this Section 2.22.7, then the Type and Class of the Advances shall automatically be Continued and, in the case of Eurodollar Advances, shall be for an Interest Period of the same duration as the Interest Period then ending; provided that such Interest Period is otherwise permitted under this Agreement (and if such Interest Period is not so permitted then such Advance shall be Converted into an Adjusted Base Rate Advance). Notwithstanding anything in this Agreement to the contrary, Conversions of Eurodollar Advances may only be made effective at the end of the applicable Interest Period for such Advances; provided, however, that Conversions of Adjusted Base Rate Advances may be made at any time upon the requisite advance noticeapplicable. The portion of Advances comprising part of the same Borrowing that are Converted to Advances of another Type in the same Class of Advances shall constitute a new Borrowing of the same ClassBorrowing.

Appears in 1 contract

Samples: 364 Day Credit Agreement (Helmerich & Payne Inc)

Conversions and Continuations. In order to elect to Convert or Continue Term Advances an Advance under this Section, the Borrower desiring a Conversion or Continuation shall deliver an irrevocable Notice of Conversion or Continuation to the Administrative Agent at its Applicable Lending Office the Agent's office no later than (i) 12:00 p.m. 11:00 a.m. (New York Dallas, Texas time) at least [__________]* in advance the Business Day of such requested Conversion date in the case of a Conversion of to a Eurodollar Advance to an Adjusted U.S. Base Rate Advance (or vice versa)Advance, or (ii) 12:00 p.m. 11:00 a.m. (New York Dallas, Texas time) at least [__________]* three Business Days in advance of such requested Conversion or Continuation date in the case of a Conversion into to, or a Continuation of, a Eurodollar Rate Advance, (iii) 11:00 a.m. (Paris, France time) at least three Business Days in advance of such requested Conversion or Continuation date in the case of Eurodollar a Conversion to, or Continuation of, a Eurocurrency Rate Advance, and (iv) 11:00 a.m. (Paris, France time) three Business Days in advance of such requested Conversion or Continuation date in the case of a Conversion to, or Continuation of, a French Alternate Rate Advance; provided that no such Conversion to French Alternate Rate Advances shall be permitted unless (I) there is, with respect to other Eurodollar requested Conversions or Continuations of Borrowings which are to be comprised of French Revolving Advances, less than 30 days from the date of such Conversion or Continuation until the Maturity Date applicable to such French Revolving Advances or (II) permitted or required by this Agreement. Each such Notice of Conversion or Continuation shall be in writing or by telex, telecopier or telephone, confirmed promptly in writing specifying (A) the requested Conversion or Continuation date (which shall be a Business Day), (B) the amount, Type Type, and Class of the Advances Advance to be Converted or Continued, (C) whether a Conversion or Continuation is requested, and if a Conversion, into what Type of Advances of the same ClassAdvance, and (D) in the case of a Conversion to, or a Continuation of, Eurodollar Advancesa Fixed Rate Advance, the requested Interest Period(s)Period. Promptly after receipt of a Notice of Conversion or Continuation under this paragraph, the Administrative Agent shall thereafter promptly provide each Lender with a copy thereof and, in the case of a Conversion to or a Continuation of Eurodollar Advances, promptly notify each Lender of the interest rate under Section 2.5(a)(ii) after its determination. If the Borrower shall not have given a Notice of Conversion or Continuation to the Administrative Agent pursuant to and in accordance with this Section 2.2, then the Type and Class of the Advances shall automatically be Continued and, in the case of Eurodollar Advances, shall be for an Interest Period of the same duration as the Interest Period then ending; provided that such Interest Period is otherwise permitted under this Agreement (and if such Interest Period is not so permitted then such Advance shall be Converted into an Adjusted Base Rate Advance). Notwithstanding anything in this Agreement to the contrary, Conversions of Eurodollar Advances may only be made effective at the end of the applicable Interest Period for such Advances; provided, however, that Conversions of Adjusted Base Rate Advances may be made at any time upon the requisite advance notice. The portion of Advances comprising part of the same Borrowing that are Converted to Advances of another Type in the same Class of Advances shall constitute a new Borrowing of the same Class.of

Appears in 1 contract

Samples: Credit Agreement (Schweitzer Mauduit International Inc)

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