Common use of Procedure for Converting Floating Rate Advances to LIBOR Advances Clause in Contracts

Procedure for Converting Floating Rate Advances to LIBOR Advances. Company may request that all or any part of an outstanding Floating Rate Advance be converted to a LIBOR Advance, provided that no Default Period is in effect, and that Xxxxx Fargo receives the request no later than 9:00 a.m. Pasadena, California Time three (3) Business Days prior to the Business Day on which Company wishes the conversion to become effective. Each request shall (i) specify the principal amount of the Floating Rate Advance to be converted, (ii) the Business Day of conversion, and (iii) the Interest Period desired. The request shall be confirmed in an Authenticated Record if requested by Xxxxx Fargo. Each conversion to a LIBOR Advance shall be in multiples of $500,000 and in the minimum amount of at least $500,000.

Procedure for Converting Floating Rate Advances to LIBOR Advances. Subject to the LIBOR Limitation Amount, Company may request that all or any part of an outstanding Floating Rate Advance be converted to a LIBOR Advance, provided that no Default Period is in effect, and that Xxxxx Wxxxx Fargo receives the request no later than 9:00 9:30 a.m. Pasadena, California Time three (3) Business Days prior to preceding the Business Day on which Company wishes the conversion to become effective. Each request shall (i) specify the principal amount of the Floating Rate Advance to be converted, (ii) the Business Day of conversion, and (iii) the Interest Period desired. The request shall be confirmed in an Authenticated Record if requested by Xxxxx Wxxxx Fargo. Each conversion to a LIBOR Advance shall be in multiples of $500,000 1,000,000 and in the minimum amount of at least $500,0001,000,000.

Procedure for Converting Floating Rate Advances to LIBOR Advances. Company Funds Administrator may request that all or any part of an outstanding Floating Rate Advance be converted to a LIBOR Advance, provided that no Default Period is in effect, and that Xxxxx Fargo receives the request no later than 9:00 a.m. Pasadena, California Time three (3) Business Days prior to preceding the Business Day on which Company Funds Administrator wishes the conversion to become effective. Each request shall (i) specify the principal amount of the Floating Rate Advance to be converted, (ii) the Business Day of conversion, and (iii) the Interest Period desired. The request shall be confirmed in an Authenticated Record if requested by Xxxxx Fargo. Each conversion to a LIBOR Advance shall be in multiples of $500,000 1,000,000 and in the minimum amount of at least $500,0001,000,000.

Procedure for Converting Floating Rate Advances to LIBOR Advances. Company may request that all or any part of an outstanding Floating Rate Advance be converted to a LIBOR Advance, provided that no Default Period is in effect, and that Xxxxx Wxxxx Fargo receives the request no later than 9:00 11:59 a.m. Pasadena, California Central Time three (3) Business Days prior to the Business Day on which Company wishes the conversion to become effective. Each request shall (i) specify the principal amount of the Floating Rate Advance to be converted, (ii) the Business Day of conversion, and (iii) the Interest Period desired. The request shall be confirmed in an Authenticated Record if requested by Xxxxx Wxxxx Fargo. Each conversion to a LIBOR Advance shall be in multiples of $500,000 500,000.00 and in the minimum amount of at least $500,0001,000,000.00.