Option to Convert or Continue Sample Clauses

Option to Convert or Continue. Borrower shall have the option to: (i) convert, at any time, all or any part of the outstanding Loans equal to One Million Dollars ($1,000,000), and integral multiples of $100,000 in excess of such amount, from a Prime Rate Loan to a Eurodollar Rate Loan and vice-versa; or (ii) upon the expiration of any Interest Period applicable to a Eurodollar Rate Loan, to continue all or any portion of the Eurodollar Rate Loan as a Eurodollar Rate Loan, with the succeeding Interest Period(s) of such continued Eurodollar Rate Loan commencing on the expiration date of the Interest Period previously applicable thereto; provided, however, that a Eurodollar Rate Loan may only be converted into a Prime Rate Loan or continued as a Eurodollar Rate Loan on the expiration date of the Interest Period applicable thereto; provided further, however, that no outstanding Loan may be continued as, or be converted into, a Eurodollar Rate Loan in the event that, on the earlier of the date of the delivery of the Notice of Conversion or Continuation or the telephonic notice in respect thereof, any Default has occurred and is continuing; provided further, however, that if Borrower fails to deliver the appropriate Notice of Conversion or Continuation or the telephonic notice in respect thereof, pursuant to the required notice period, before the expiration of the Interest Period of a Eurodollar Rate Loan, such Eurodollar Rate Loan shall automatically be converted to a Prime Rate Loan.

Option to Convert or Continue. Subject to the provisions of Section 2.15, the Borrower shall have the option (a) at any time to convert all or any part of any outstanding Base Rate Loans in an aggregate minimum amount of $2,500,000 and integral multiples of $500,000 in excess of that amount from Base Rate Loans to Eurodollar Loans, and (b) upon the expiration of any Interest Period applicable to a specific Borrowing of Eurodollar Loans, (i) to convert all or any portion of such Loans to Base Rate Loans, or (ii) to continue all or any portion of such Loans in an aggregate minimum amount of $2,500,000 and integral multiples of $500,000 in excess of that amount as Eurodollar Loans, and the succeeding Interest Period of such continued Eurodollar Loans shall commence on the expiration date of the Interest Period previously applicable thereto.

Option to Convert or Continue. Borrower shall have the option (a) at any time to convert all or any part of any outstanding Prime Rate Loans from Prime Rate Loans to LIBOR Loans, and (b) at any time to continue all or any portion of LIBOR Loans as LIBOR Loans, and the succeeding Interest Period of such continued LIBOR Loans shall commence on the expiration date of the Interest Period previously applicable thereto.

Option to Convert or Continue. (a) Subject to the provisions of Section 2.11, the Domestic Borrower shall have the option with respect to Revolving Loans and Domestic Term Loans (i) at any time to convert all or any part of any outstanding Base Rate Loans in an aggregate minimum amount of $500,000 and integral multiples of $100,000 in excess of that amount from Base Rate Loans to LIBOR Loans and (ii) upon the expiration of any Interest Period applicable to a specific Borrowing of LIBOR Loans, to continue all or any portion of such Loans in an aggregate minimum amount of $500,000 and integral multiples of $100,000 in excess of that amount as LIBOR Loans, and the succeeding Interest Period of such continued LIBOR Loans shall commence on the expiration date of the Interest Period previously applicable thereto. (b) Subject to the provisions of Section 2.11, the Euro Borrower shall have the option with respect to Euro Term Loans (i) at any time to convert all or any part of any outstanding Base Rate Loans in an aggregate minimum amount of (euro)500,000 and integral multiples of (euro)100,000 in excess of that amount from Base Rate Loans to LIBOR Loans and (ii) upon the expiration of any Interest Period applicable to a specific Borrowing of LIBOR Loans, to continue all or any portion of such Loans in an aggregate minimum amount of (euro)500,000 and integral multiples of (euro)100,000 in excess of that amount as LIBOR Loans, and the succeeding Interest Period of such continued LIBOR Loans shall commence on the expiration date of the Interest Period previously applicable thereto.