Common use of Conversions of Advances Clause in Contracts

Conversions of Advances. 1.20 An outstanding advance may only be converted on the last day of the then current Interest Period (if applicable) with respect to such advance, and provided, further, that upon the continuation or conversion of an advance such notice shall also specify the Interest Period (if applicable) to be applicable thereto upon such continuation or conversion. If the Company shall fail to timely deliver such a notice with respect to any outstanding advance, the Company shall be deemed to have elected to convert such advance to a Prime Rate Advance on the last day of the then current Interest Period with respect to such advance.

Conversions of Advances. 1.20 An outstanding advance may only be converted on the last day of the then current Interest Period (if applicable) with respect to such advance, and providedPROVIDED, furtherFURTHER, that upon the continuation or conversion of an advance such notice shall also specify the Interest Period (if applicable) to be applicable thereto upon such continuation or conversion. If the Company shall fail to timely deliver such a notice with respect to any outstanding advance, the Company shall be deemed to have elected to convert such advance to a Prime Rate Advance on the last day of the then current Interest Period with respect to such advance.

Conversions of Advances. 1.20 An outstanding advance may only be converted on the last day of the then current Interest Period (if applicable) with respect to such advance, and provided, further, that upon the continuation or conversion of an advance such notice shall also specify the Interest Period (if applicable) to be applicable thereto upon such continuation or conversion. If the Company shall fail to timely deliver such a notice with respect to any outstanding advance, the Company shall be deemed to have elected to convert such advance to a Prime Base Rate Advance on the last day of the then current Interest Period with respect to such advance.

Conversions of Advances. 1.20 An outstanding advance may only be converted on the last day of the then current Interest Period (if applicable) with respect to such advance, and provided, further, that upon the continuation or conversion of an advance such notice shall also specify the Interest Period (if applicable) to be applicable thereto upon such continuation or conversion. If the Company shall fail to timely deliver such a notice with respect to any outstanding advance, the Company shall be deemed to have elected to convert such advance to a Prime Rate Advance on the last day of the then current Interest Period with respect to such advance.