Conversions of Loans. The Borrowers shall have the right to convert Loans of one type into Loans of another type from time to time, provided that: (i) a Borrower shall give the Agent notice of each such conversion as provided in Section 2.2 hereof; (ii) LIBOR Loans may be converted only on the last day of an Interest Period for such Loans; and (iii) except as required by Sections 2.22 or 2.25 hereof, no ABR Loan may be converted into a LIBOR Loan if on the proposed date of conversion a Default or an Event of Default exists. The Agent shall use its best efforts to notify a Borrower of the effectiveness of such conversion, and the new interest rate to which the converted Loans are subject, as soon as practicable after the conversion; provided, however, that any failure to give such notice shall not affect the Borrowers' obligations, or the Agent's or the Banks' rights and remedies, hereunder in any way whatsoever.
Conversions of Loans. The Borrower shall have the right to convert Loans of one type into Loans of another type from time to time, provided that: (i) the Borrower shall give the Bank notice of each such conversion as provided in Section 2.2 hereof; (ii) subject to subsection 2.22(c) hereof, LIBOR Loans may be converted only on the last day of an Interest Period for such Loans; and (iii) except as required by Sections 2.18 or 2.21 hereof, no Base Rate Loan may be converted into a LIBOR Loan if on the proposed date of conversion a Default or an Event of Default exists. The Bank shall use its best efforts to notify the Borrower of the effectiveness of such conversion, and the new interest rate to which the converted Loans are subject, as soon as practicable after the conversion; provided, however, that any failure to give such notice shall not affect the Borrower's obligations, or the Bank's rights and remedies, hereunder in any way whatsoever.
Conversions of Loans. The Borrower shall have the right to convert Loans of one type into Loans of another type from time to time, provided that: (i) the Borrower shall give the Collateral Monitoring Agent notice of each such conversion as provided in Section 2.3 hereof; (ii) Eurodollar Loans may be converted only on the last day of an Interest Period for such Loans; and (iii) except as required by Section 2.17 hereof, no Prime Rate Loan may be converted into a Eurodollar Loan if on the proposed date of conversion a Default or an Event of Default exists. The Collateral Monitoring Agent shall use its best efforts to notify the Borrower of the effectiveness of such conversion, and the new interest rate to which the converted Loans are subject, as soon as practicable after the conversion; provided, however, that any failure to give such notice shall not affect the Borrower's obligations, or the Collateral Monitoring Agent's or the Lenders' rights and remedies, hereunder in any way whatsoever.
Conversions of Loans. 47 Section 2.24 Limitation on Types of Loans..........................................................47 Section 2.25 Illegality............................................................................48 Section 2.26 Indemnification.......................................................................48
Conversions of Loans. The Borrower shall have the right to convert Loans of one type into Loans of another type from time to time, provided that: (i) the Borrower shall give the Administrative Agent notice of each such conversion as provided in Section 2.2 hereof; (ii) Eurodollar Loans may be converted only on the last day of an Interest Period for such Loans; and (iii) except as required by Sections 2.18 or 2.21 hereof, no Prime Rate Loan may be converted into a Eurodollar Loan if on the proposed date of conversion a Default or an Event of Default exists. The Administrative Agent shall use its best efforts to notify the Borrower of the effectiveness of such conversion, and the new interest rate to which the converted Loans are subject, as soon as practicable after the conversion; provided, however, that any failure to give such notice shall not affect the Borrower's obligations, or the Banks' or the Administrative Agent's rights and remedies, hereunder in any way whatsoever.
Conversions of Loans. Upon the terms and subject to the conditions and limitations of this Agreement, the Borrower may convert all or any part of any outstanding Revolving Credit Loan into a Revolving Credit Loan of another Type on any Business Day (which, in the case of a conversion of an outstanding LIBOR Loan shall be the last day of the Interest Period applicable to such LIBOR Loan). The Borrower shall give the Lender prior notice of each such conversion (which notice shall be effective upon receipt) in accordance with Section 2.3. Notwithstanding the foregoing, the Borrower may not convert any Revolving Credit Loan into a LIBOR Loan or continue a LIBOR Loan if there is a continuing Default.
Conversions of Loans. The Borrower shall have the option to Convert on any Business Day all or a portion at least equal to the applicable Minimum Borrowing Amount of the outstanding principal amount of its Loans of one Type into a Borrowing or Borrowings of another Type of Loans; PROVIDED that: (i) no partial Conversion of a Borrowing of LIBOR Loans shall reduce the outstanding principal amount of the LIBOR Loans made pursuant to such Borrowing to less than the Minimum Borrowing Amount applicable thereto; (ii) any Conversion of LIBOR Loans into Prime Rate Loans shall be made on, and only on, the last day of an Interest
Conversions of Loans. The Borrowers shall have the right to convert Loans of one type into Loans of another type from time to time, provided that: (i) NPDC, MXL or GPC, on behalf of the GPC Borrowers, shall give the Agent notice of each such conversion as provided in Section 2.2 hereof; (ii) Fixed Rate Loans may be converted only on the last day of an Interest Period for such Loans; and (iii) no Prime Rate Loan may be converted into a Fixed Rate Loan if on the proposed date of conversion a Default or an Event of Default exists. The Agent shall use its best efforts to notify NPDC, MXL or GPC, on behalf of the GPC Borrowers, of the effectiveness of such conversion, and the new interest rate to which the converted Loans are subject, as soon as practicable after the conversion; provided, however, that any failure to give such notice shall not result in any liability of the Agent or affect the Borrowers' Obligations, or the Agent's or the Banks' rights and remedies, hereunder in any way whatsoever.
Conversions of Loans. The Borrowers shall have the right to convert Base Rate Loans into LIBO Rate Loans, and vice versa, from time to time, provided that: (i) borrowers shall give the Agent notice of each permitted conversion as provided in Section 2.2 thereof; (ii) LIBO Rate Loans may be converted only as of the last day of the applicable Interest period for such Loans; (iii) only LIBO Rate Loans with a Selected Currency of Dollars may be converted; and (iv) without the consent of each of the Banks, no Base Rate Loan may be converted into a LIBO Rate Loan, no LIBO Rate Loan may be converted into a Base Rate Loan and no Interest Period may be renewed if on the proposed date of conversion an Event of Default, or Potential Default exists or would thereby occur. The Agent shall use its best efforts to notify The West Company on behalf of the Borrowers of the effectiveness of such conversion, and the new interest rate to which the converted Loan is subject, as soon as practicable after the conversion; provided, however, that any failure to give such notice shall not affect the Borrowers' obligations or the Banks' rights and remedies hereunder in any way whatsoever.
Conversions of Loans. Section 2.18
