Conversions or Continuations Sample Clauses
Conversions or Continuations. (a) Each conversion of Loans from one Type to the other and each continuation of Eurodollar Rate Loans shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may be given by telephone or in the form of a written Conversion or Continuation Notice. Each such notice must be received by the Administrative Agent not later than 12:00 noon three (3) Business Days prior to the requested date of any conversion to or continuation of Eurodollar Rate Loans or of any conversion of Eurodollar Rate Loans to Base Rate Loans. Each telephonic notice by the Borrower pursuant to this Section 2.06(a) must be confirmed promptly by delivery to the Administrative Agent of a written Conversion or Continuation Notice appropriately completed and signed by an Authorized Officer of the Borrower. Each conversion to or continuation of Eurodollar Rate Loans shall be in a principal amount of Ten Million and 00/100 Dollars ($10,000,000.00) or a whole multiple of One Million and 00/100 Dollars ($1,000,000.00) in excess thereof. Each conversion to Base Rate Loans shall be in a principal amount of Five Hundred Thousand and 00/100 Dollars ($500,000.00) or a whole multiple of One Hundred Thousand and 00/100 Dollars ($100,000.00) in excess thereof. Each Conversion or Continuation Notice (whether telephonic or written) shall specify (i) whether the Borrower is requesting a conversion of Loans from one Type to the other or a continuation of Eurodollar Rate Loans, (ii) the requested date of the conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Loans to be converted or continued, (iv) the Type of Loans to which existing Loans are to be converted, and (v) if applicable, the duration of the Interest Period with respect thereto. If the Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Loans shall be made as, or converted to, Base Rate Loans. Any such automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurodollar Rate Loans. If the Borrower requests a conversion to, or continuation of Eurodollar Rate Loans in any such Conversion or Continuation Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month.
(b) Except as otherwise provided herein, a Eurodollar Rate Loan may be continued or converted only on the last ...
Conversions or Continuations. (a) Subject to the other provisions hereof, the Borrower shall have the option (i) to convert pro rata on any Business Day all or a portion equal to at least $100,000,000 (or if greater, an integral multiple of $20,000,000) of the outstanding principal amount of any Revolving Loan or Revolving Loans made pursuant to one or more Borrowings from one or more Types of Loans into one Borrowing of another Type, or (ii) to continue all or any part of the outstanding Eurodollar Loans made pursuant to one Borrowing; provided that (x) except as otherwise provided in Section 2.11, Eurodollar Loans may be converted into Loans of another Type only on the last day of an Interest Period applicable thereto and (y) Loans of any Type may only be converted into or continued as Eurodollar Loans if no Default or Event of Default has occurred and is continuing.
(b) In order to select to convert or continue a Revolving Loan under this Section 2.10, the Borrower shall deliver an irrevocable notice thereof by telephone (confirmed promptly in writing) or in writing (a "Notice of Continuation or Conversion") to the Administrative Agent at the Payment Office prior to 11:00 a.m. (New York City time) at least three Business Days prior to the date of such conversion or continuation specifying whether a continuation or conversion is requested, the Loans to be so converted or continued and, if to be converted into or continued as Eurodollar Loans, the Interest Period to be initially applicable thereto. Notwithstanding the foregoing, if a Default or Event of Default is in existence at the time any Interest Period in respect of any Borrowing of Eurodollar Loans is to expire, such Loans may not be continued as Eurodollar Loans but instead shall be automatically converted on the expiration date of such Interest Period into a Borrowing of Base Rate Loans. If upon the expiration of any Interest Period, the Borrower has failed to elect a new Interest Period to be applicable to the respective Borrowing of Eurodollar Loans as provided above, the Borrower shall be deemed to have elected to convert the Borrowing into a Borrowing of Base Rate Loans effective as of the expiration date of such current Interest Period.
Conversions or Continuations. Conversions or continuations will be reinsured by the Reinsurer only if the original policy was reinsured by the Reinsurer. The amount of reinsurance will not exceed the amount of the reinsurance on the original policy with the Reinsurer immediately prior to the conversion or continuation. Premiums and allowances will be determined at the rates covering the new plan at point in scale based on the original policy that is being converted or continued. A continuation is defined as a policy not meeting all of the following conditions:
1) complete new underwriting 2) new suicide clause and incontestible period 3) full first year commissions paid.
Conversions or Continuations. Provided that no Potential Default or Event of Default has occurred and is continuing, Borrower shall have the right to convert all or a part of one type of Loan into another type of Loan or to continue all or any part of a Fixed Rate Loan, at any time or from time to time, provided that (1) Borrower shall give Administrative Agent (a) written or facsimile notice of each such conversion into a Variable Rate Loan by no later than 11:00 A.M. (Pacific Time) on the date of such conversion and (b) written or facsimile notice of each conversion into and continuation of a Fixed Rate Loan by no later than 11:00 A.M. (Pacific Time) three Banking Days prior to such conversion or continuation, (2) Fixed Rate Loans may be converted or continued only on the last day of an Interest Period for such Loans and (3) after giving effect to such continuation or conversion the minimum principal amount of the outstanding Fixed Rate Loans with the same Interest Period will be One Million Dollars ($1,000,000) and integral multiples of One Hundred Thousand Dollars ($100,000). All notices given under this Section shall be irrevocable. Each such notice of conversion or continuation shall specify the Advance to be converted or continued and the amount thereof and the date of conversion or continuation (which shall be a Banking Day) and, in respect of a Fixed Rate Loan, the duration of an Interest Period. Each such notice of the duration of an Interest Period shall specify the Fixed Rate Loan to which such Interest Period is to relate. In the event that Borrower fails to select the type of Loan, or the duration of any Interest Period for any Fixed Rate Loan, within the time period and otherwise as provided in this Section, such Loan (if outstanding as a Fixed Rate Loan) will be automatically converted into a Variable Rate Loan on the last day of the then current Interest Period for such Fixed Rate Loan.
Conversions or Continuations. Any Canadian Loan to Libbey Canada may be converted from Canadian Loans bearing interest at a rate determined by reference to one basis to Canadian Loans bearing interest at a rate determined by reference to an alternative basis, or any Canadian Eurodollar Rate Loan may be continued as such upon the expiration of an Interest Period with respect thereto, by the giving of a Notice of Conversion/Continuation to Canadian Agent by Company and Libbey Canada in compliance with the notice provisions contained in subsection 2.8B; PROVIDED, HOWEVER, that no Canadian Loan may be continued as, or be converted into, a Canadian Eurodollar Rate Loan when any Potential Event of Default or Event of Default has occurred and is continuing, but shall be automatically converted to a Canadian Prime Rate Loan on the last day of the Interest Period in effect for such Canadian Eurodollar Rate Loan during which such Potential Event of Default or Event of Default occurs; and PROVIDED FURTHER that (subject to the preceding proviso) if Libbey Canada shall not have complied with such notice provisions, Libbey Canada shall be deemed irrevocably to have requested that such Canadian Eurodollar Rate Loan be continued as a Canadian Eurodollar Rate Loan having an Interest Period of one month and in the same principal amount, unless such time is less than one month from the Revolving Loan