Common use of Loan Types Clause in Contracts

Loan Types. The Revolving Loan shall consist of either Base Rate Advances or LIBOR Rate Advances (the “Loan Types”), as duly requested by Borrowers’ Agent or any one or more of Borrowers pursuant to this Agreement. In addition, at any time other than after the occurrence and during the continuance of an Event of Default, Borrowers’ Agent or any one or more of Borrowers may request the conversion of any portion of the Revolving Loan from one Loan Type to another pursuant to this Agreement; provided, however, that conversions of all or any portion of a LIBOR Rate Advance may be made only as of the last date of the Interest Period applicable thereto; provided, further, that such conversion would not violate any other provisions of this Agreement. LIBOR Rate Advances, and any conversions to LIBOR Rate Advances, shall be in a minimum aggregate principal amount of $50,000 and in integral multiples of $10,000 in excess thereof (or such other amount as Bank may agree in its discretion).