Common use of Voluntary Conversion of A Advances Clause in Contracts

Voluntary Conversion of A Advances. Subject to the applicable conditions set forth in Section 3.02, the Borrower may on any Business Day, by delivering a notice of Conversion (a "Notice of Conversion") to the Administrative Agent not later than 12:00 noon (i) on the third Business Day prior to the date of the proposed Conversion, in the case of a Conversion to or in respect of Eurodollar Rate Advances and (ii) on the date of the proposed Conversion, in the case of a Conversion to or in respect of Base Rate Advances, and subject to the provisions of Sections 2.09 and 2.13, Convert all A Advances of one Type comprising the same A Borrowing into Advances of another Type; provided, however, that, in the case of any Conversion of any Eurodollar Rate Advances into Advances of another Type on a day other than the last day of an Interest Period for such Eurodollar Rate Advances, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(b). Each such Notice of Conversion shall be in substantially the form of Exhibit 2.10 and shall, within the restrictions specified above, specify (A) the date of such Conversion, (B) the A Advances to be Converted, (C) if such Conversion is into Eurodollar Rate Advances, the duration of the Interest Period for each such A Advance, and (D) the aggregate amount of A Advances proposed to be Converted.

Appears in 4 contracts

Samples: Credit Agreement (Commonwealth Edison Co), Credit Agreement (Commonwealth Edison Co), Credit Agreement (Commonwealth Edison Co)

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Voluntary Conversion of A Advances. Subject to the applicable conditions set forth in Section 3.02, the The Borrower may on any Business Day, by delivering a upon notice of Conversion (a "Notice of Conversion") given to the Administrative Agent not later than 12:00 noon 11:00 A.M. (iNew York City time) on the third Business Day prior to the date of the proposed Conversion, in the case of a Conversion to or in respect of Eurodollar Rate Advances and (ii) on the date of the proposed Conversion, in the case of a Conversion to or in respect of Base Rate Advances, and subject to the provisions of Sections 2.09 2.11 and 2.132.15, Convert all A Advances of one Type comprising the same A Borrowing into A Advances of another the other Type; , provided, however, that, in the case of however that any Conversion of any Eurodollar LIBOR Advances into Base Rate Advances into Advances of another Type on a day other than shall be made on, and only on, the last day of an Interest Period for such Eurodollar LIBOR Advances and any Conversion of Base Rate AdvancesAdvances into LIBOR Advances shall be in an amount not less than $20,000,000, and provided further that the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(b)not convert any Base Rate Advances into LIBOR Advances if a Default has occurred and is continuing. Each such Notice notice of a Conversion shall be in substantially the form of Exhibit 2.10 and shall, within the restrictions specified above, specify (Ai) the date of such Conversion, (Bii) the A Advances to be Converted, Converted and (Ciii) if such Conversion is into Eurodollar Rate LIBOR Advances, the duration of the initial Interest Period for each such A Advance, . Each notice of Conversion shall be irrevocable and (D) binding on the aggregate amount of A Advances proposed to be ConvertedBorrower.

Appears in 2 contracts

Samples: Credit Agreement (Supervalu Inc), Credit Agreement (Supervalu Inc)

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Voluntary Conversion of A Advances. Subject to the applicable conditions set forth in Section 3.02, the Borrower may on any Business Day, by delivering a notice of Conversion (a "Notice of ConversionNOTICE OF CONVERSION") to the Administrative Agent not later than 12:00 noon (i) on the third Business Day prior to the date of the proposed Conversion, in the case of a Conversion to or in respect of Eurodollar Rate Advances and (ii) on the date of the proposed Conversion, in the case of a Conversion to or in respect of Base Rate Advances, and subject to the provisions of Sections 2.09 and 2.13, Convert all A Advances of one Type comprising the same A Borrowing into Advances of another Type; provided, however, that, in the case of any Conversion of any Eurodollar Rate Advances into Advances of another Type on a day other than the last day of an Interest Period for such Eurodollar Rate Advances, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(b). Each such Notice of Conversion shall be in substantially the form of Exhibit 2.10 and shall, within the restrictions specified above, specify (A) the date of such Conversion, (B) the A Advances to be Converted, (C) if such Conversion is into Eurodollar Rate Advances, the duration of the Interest Period for each such A Advance, and (D) the aggregate amount of A Advances proposed to be Converted.

Appears in 1 contract

Samples: Credit Agreement (Commonwealth Edison Co)

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