Common use of Conversion and Continuation Options Clause in Contracts

Conversion and Continuation Options. (a) The Borrower may elect from time to time to convert Eurocurrency Loans denominated in Dollars to ABR Loans by giving the Administrative Agent irrevocable notice of such election not later than 11:00 A.M., New York City time, one Business Day prior to the date of conversion, provided that any such conversion of Eurocurrency Loans may only be made on the last day of an Interest Period with respect thereto. The Borrower may elect from time to time to convert its ABR Loans to Eurocurrency Loans denominated in Dollars by giving the Administrative Agent irrevocable notice of such election (which notice shall specify the length of the initial Interest Period therefor) not later than 11:00 A.M., New York City time, three Business Days prior to the date of conversion, provided that no ABR Loan may be converted into a Eurocurrency Loan when any Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof.

Appears in 4 contracts

Samples: Credit Agreement (Thermo Electron Corp), Credit Agreement (Thermo Electron Corp), Day Credit Agreement (Thermo Electron Corp)

AutoNDA by SimpleDocs

Conversion and Continuation Options. (a) The Borrower may elect from time to time to convert Eurocurrency Eurodollar Loans denominated in Dollars to ABR Loans by giving the Administrative Agent prior irrevocable notice notice, substantially in the form of Exhibit E, of such election not no later than 11:00 A.M.1:00 P.M., New York City time, one on the Business Day prior to preceding the date of conversion, proposed conversion date; provided that any such conversion of Eurocurrency Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto. The Borrower may elect from time to time to convert its ABR Loans to Eurocurrency Eurodollar Loans denominated in Dollars by giving the Administrative Agent prior irrevocable notice of such election no later than 12:00 Noon, New York City time, on the third Business Day preceding the proposed conversion date (which notice shall specify the length of the initial Interest Period therefor) not later than 11:00 A.M.); and provided, New York City timefurther, three Business Days prior to the date of conversion, provided that no ABR Loan may be converted into a Eurocurrency Eurodollar Loan when any Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined in its or their sole discretion not to permit such conversionscontinuing. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.

Appears in 3 contracts

Samples: Pledge and Security Agreement, Credit Agreement (TMS International Corp.), Pledge and Security Agreement (TMS International Corp.)

Conversion and Continuation Options. (a) The Borrower Representative may elect from time to time to convert Eurocurrency Eurodollar Loans denominated in Dollars to ABR Loans by giving the Administrative Agent prior irrevocable notice of such election not substantially in the form of Exhibit H no later than 11:00 10:00 A.M., New York City time, one time three Business Day Days prior to the date of conversion, proposed conversion date; provided that any such conversion of Eurocurrency Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto. The Borrower Representative may elect from time to time to convert its ABR Loans to Eurocurrency Eurodollar Loans denominated in Dollars by giving the Administrative Agent prior irrevocable notice of such election no later than 11:00 A.M., New York City time, on the third Business Day preceding the proposed conversion date (which notice shall specify the length of the initial Interest Period therefor) not later than 11:00 A.M., New York City time, three Business Days prior to the date of conversion, ); provided that no ABR Loan may be converted into a Eurocurrency Eurodollar Loan when any Event of Default or Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.

Appears in 3 contracts

Samples: Credit Agreement (Aspen Insurance Holdings LTD), Credit Agreement (Aspen Insurance Holdings LTD), Credit Agreement (Aspen Insurance Holdings LTD)

Conversion and Continuation Options. (a) The A Borrower may elect from time to time to convert Eurocurrency Eurodollar Loans denominated in Dollars made to ABR it to Federal Funds Rate Loans by giving the Administrative Agent prior irrevocable notice of such election not no later than 11:00 A.M., New York City time, one Business Day prior to on the date of conversionproposed conversion date, provided that any such conversion of Eurocurrency Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto. The Any Borrower may elect from time to time to convert its ABR Federal Funds Rate Loans made to Eurocurrency it to Eurodollar Loans denominated in Dollars by giving the Administrative Agent prior irrevocable notice of such election no later than 11:00 A.M., New York City time, on the third Business Day preceding the proposed conversion date (which notice shall specify the length of the initial Interest Period therefor) not later than 11:00 A.M., New York City time, three Business Days prior to the date of conversion), provided that no ABR Federal Funds Rate Loan may be converted into a Eurocurrency Eurodollar Loan when any Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.

Appears in 2 contracts

Samples: Credit Agreement (Knight Capital Group, Inc.), Credit Agreement (Knight Capital Group, Inc.)

Conversion and Continuation Options. (a) The Borrower may elect from time to time to convert Eurocurrency Eurodollar Loans denominated in Dollars to ABR Base Rate Loans by giving the Administrative Agent prior irrevocable notice notice, in substantially the form attached hereto as Exhibit G, of such election not no later than 11:00 A.M.12:00 Noon, New York City time, one on the Business Day prior to preceding the date of conversionproposed conversion date, provided that any such conversion of Eurocurrency Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto. The Borrower may elect from time to time to convert its ABR Base Rate Loans to Eurocurrency Eurodollar Loans denominated in Dollars by giving the Administrative Agent prior irrevocable notice of such election no later than 12:00 Noon, New York City time, on the third (3rd) Business Day preceding the proposed conversion date (which notice shall specify the length of the initial Interest Period therefor) not later than 11:00 A.M., New York City time, three Business Days prior to the date of conversion), provided that no ABR Base Rate Loan may be converted into a Eurocurrency Eurodollar Loan when any Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice notice, the Administrative Agent shall promptly notify each relevant Lender thereof.

Appears in 2 contracts

Samples: Credit Agreement (Micron Technology Inc), Credit Agreement (Micron Technology Inc)

Conversion and Continuation Options. (a) The Borrower may elect from time to time to convert Eurocurrency Eurodollar Loans denominated in Dollars to ABR Loans by giving the Administrative Agent prior irrevocable notice of such election not pursuant to an Interest Election Request no later than 11:00 A.M.2:00 P.M., New York City time, one on the Business Day prior to preceding the date of conversionproposed conversion date, provided that any such conversion of Eurocurrency Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto. The Borrower may elect from time to time to convert its ABR Loans to Eurocurrency Eurodollar Loans denominated in Dollars by giving the Administrative Agent prior irrevocable notice of such election no later than 2:00 P.M., New York City time, on the third Business Day preceding the proposed conversion date (which notice shall specify the length of the initial Interest Period therefor) not later than 11:00 A.M., New York City time, three Business Days prior to the date of conversion), provided that no ABR Loan under a particular Facility may be converted into a Eurocurrency Eurodollar Loan when any Event of Default has occurred and is continuing and the Administrative Agent or the Required Majority Facility Lenders in respect of such Facility have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.

Appears in 2 contracts

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

Conversion and Continuation Options. (a) The Borrower may elect from time to time to convert Eurocurrency Eurodollar Loans denominated in Dollars to ABR Loans by giving the Administrative Agent prior irrevocable notice of such election not no later than 11:00 A.M., New York City time, one on the Business Day prior to preceding the date of conversionproposed conversion date, provided that any such conversion of Eurocurrency Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto. The Borrower may elect from time to time to convert its ABR Loans to Eurocurrency Eurodollar Loans denominated in Dollars by giving the Administrative Agent prior irrevocable notice of such election no later than 11:00 A.M., New York City time, on the third Business Day preceding the proposed conversion date (which notice shall specify the length of the initial Interest Period therefor) not later than 11:00 A.M., New York City time, three Business Days prior to the date of conversion), provided that no ABR Loan under a particular Facility may be converted into a Eurocurrency Eurodollar Loan when any Event of Default has occurred and is continuing and the Administrative Agent or the Required Majority Facility Lenders in respect of such Facility have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.

Appears in 2 contracts

Samples: Revolving Credit and Term Loan Agreement (MPT Operating Partnership, L.P.), Guarantee Agreement (MPT Operating Partnership, L.P.)

Conversion and Continuation Options. (a) The Borrower may elect from time to time to convert Eurocurrency Loans that are denominated in Dollars to ABR Loans by giving the Administrative Agent prior irrevocable notice of such election not no later than 11:00 A.M., New York City time, one on the Business Day prior to preceding the date of conversionproposed conversion date, provided that any such conversion of Eurocurrency Loans may only be made on the last day of an Interest Period with respect thereto. The Borrower may elect from time to time to convert its ABR Loans to Eurocurrency Loans denominated in Dollars by giving the Administrative Agent prior irrevocable notice of such election no later than 1:00 P.M., New York City time, on the third Business Day preceding the proposed conversion date (which notice shall specify the length of the initial Interest Period therefor) not later than 11:00 A.M., New York City time, three Business Days prior to the date of conversion), provided that no ABR Loan under a particular Facility may be converted into a Eurocurrency Loan when any Event of Default has occurred and is continuing and the Administrative Agent or the Required Majority Facility Lenders in respect of such Facility have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.

Appears in 2 contracts

Samples: Credit Agreement (Wolverine World Wide Inc /De/), Credit Agreement (Wolverine World Wide Inc /De/)

Conversion and Continuation Options. (a) The Borrower may elect from time to time to convert Eurocurrency Eurodollar Loans denominated in Dollars to ABR Loans by giving the Administrative Agent prior irrevocable notice in the form of Exhibit J of such election not no later than 11:00 A.M., New York City time, one on the Business Day prior to preceding the date of conversionproposed conversion date, provided provided, that any such conversion of Eurocurrency Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto. The Borrower may elect from time to time to convert its ABR Loans to Eurocurrency Eurodollar Loans denominated in Dollars by giving the Administrative Agent prior irrevocable notice in the form of Exhibit J of such election no later than 11:00 A.M., New York City time, on the third Business Day preceding the proposed conversion date (which notice shall specify the length of the initial Interest Period therefor) not later than 11:00 A.M.), New York City timeprovided, three Business Days prior to the date of conversion, provided that no ABR Loan may be converted into a Eurocurrency Eurodollar Loan when any Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.

Appears in 2 contracts

Samples: Second Lien Credit Agreement (Bioventus Inc.), Credit Agreement (Bioventus Inc.)

Conversion and Continuation Options. (a) The Borrower may elect from time to time to convert Eurocurrency Loans denominated in Dollars to ABR Loans by giving the Administrative Agent irrevocable notice of such election not later than 11:00 A.M., New York City time, one Business Day prior to the date of conversion, provided that any such conversion of Eurocurrency Loans may only be made on the last day of an Interest Period with respect thereto. The Borrower may elect from time to time to convert its ABR Loans to Eurocurrency Loans denominated in Dollars by giving the Administrative Agent irrevocable notice of such election (which notice shall specify the length of the initial Interest Period therefor) not later than 11:00 A.M., New York City time, three Business Days prior to the date of conversion, provided that no ABR Loan may be converted into a Eurocurrency Loan when any Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.

Appears in 2 contracts

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

Conversion and Continuation Options. (a) The Borrower Each of the Borrowers may elect from time to time to convert Eurocurrency Loans denominated in Dollars to ABR Loans by giving the Administrative Agent irrevocable notice of such election not later than 11:00 A.M., New York City time, one Business Day prior to the date of conversion, provided that any such conversion of Eurocurrency Loans may only be made on the last day of an Interest Period with respect thereto. The Borrower Each of the Borrowers may elect from time to time to convert its ABR Loans to Eurocurrency Loans denominated in Dollars by giving the Administrative Agent irrevocable notice of such election (which notice shall specify the length of the initial Interest Period therefor) not later than 11:00 A.M., New York City time, three Business Days prior to the date of conversion, provided that no ABR Loan may be converted into a Eurocurrency Loan when any Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.

Appears in 2 contracts

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

Conversion and Continuation Options. (a) The Any Borrower may elect from time to time to convert Eurocurrency Eurodollar Loans denominated in Dollars made to it to ABR Loans by giving the Administrative Agent prior irrevocable notice of such election not no later than 11:00 A.M., New York City time, one on the Business Day prior to preceding the date of conversionproposed conversion date, provided that any such conversion of Eurocurrency Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto. The Any Borrower may elect from time to time to convert its ABR Loans made to Eurocurrency it to Eurodollar Loans denominated in Dollars by giving the Administrative Agent prior irrevocable notice of such election no later than 11:00 A.M., New York City time, on the third Business Day preceding the proposed conversion date (which notice shall specify the length of the initial Interest Period therefor) not later than 11:00 A.M., New York City time, three Business Days prior to the date of conversion), provided that no ABR Loan under a particular Facility may be converted into a Eurocurrency Eurodollar Loan when any Event of Default has occurred and is continuing and the Administrative Agent or the Required Majority Facility Lenders in respect of such Facility have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.

Appears in 2 contracts

Samples: Credit Agreement (Essent Group Ltd.), Credit Agreement (Essent Group Ltd.)

Conversion and Continuation Options. (a) The Borrower may elect from time to time to convert Eurocurrency Eurodollar Loans denominated in Dollars to ABR Loans by giving the Administrative Agent prior irrevocable notice of such election not no later than 11:00 A.M.1:00 P.M., New York City time, one on the Business Day prior to preceding the date of conversionproposed conversion date, provided that any such conversion of Eurocurrency Eurodollar Loans may only be made other than on the last day of an Interest Period with respect theretothereto shall be subject to Section 2.15. The Borrower may elect from time to time to convert its ABR Loans to Eurocurrency Eurodollar Loans denominated in Dollars by giving the Administrative Agent prior irrevocable notice of such election no later than 1:00 P.M., New York City time, on the third Business Day preceding the proposed conversion date (which notice shall specify the length of the initial Interest Period therefor) not later than 11:00 A.M., New York City time, three Business Days prior to the date of conversion), provided that no ABR Loan may be converted into a Eurocurrency Eurodollar Loan when any Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof.

Appears in 1 contract

Samples: Term Loan Agreement (Eddie Bauer Holdings, Inc.)

Conversion and Continuation Options. (a) The Borrower may elect from time to time to convert Eurocurrency Eurodollar Loans denominated in Dollars to ABR Base Rate Loans by giving the Administrative Agent prior irrevocable notice (signed by a Responsible Officer) of such election not later than by 11:00 A.M., New York City time, one three Business Day prior Days preceding the day on which such conversion is to the date of conversionoccur, provided that any such conversion of Eurocurrency Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto. The Borrower may elect from time to time to convert its ABR Base Rate Loans to Eurocurrency Eurodollar Loans denominated in Dollars by giving prior irrevocable notice (signed by a Responsible Officer) to the Administrative Agent irrevocable notice of by 11:00 A.M., New York City time, three Business Days prior to such election conversion (which notice shall specify the length of the initial Interest Period therefor) not later than 11:00 A.M., New York City time, three Business Days prior to the date of conversion), provided that no ABR Base Rate Loan may be converted into a Eurocurrency Eurodollar Loan when any Event of Default has occurred and is continuing and the Administrative Agent or the Required Majority Lenders have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof.

Appears in 1 contract

Samples: Credit Agreement (Chesapeake Energy Corp)

Conversion and Continuation Options. (a) The Borrower may elect from time to time to convert Eurocurrency Eurodollar Loans denominated in Dollars to ABR Loans by giving the Administrative Agent prior irrevocable notice of such election not no later than 11:00 A.M.12:00 Noon, New York City time, one on the Business Day prior to preceding the date of conversionproposed conversion date, provided that any such conversion of Eurocurrency Eurodollar Loans may only be made on the last day of an Interest Period with respect theretothereto unless the Borrower shall pay all amounts due under Section 2.15. The Borrower may elect from time to time to convert its ABR Loans to Eurocurrency Eurodollar Loans denominated in Dollars by giving the Administrative Agent prior irrevocable notice of such election no later than 12:00 Noon, New York City time, on the third Business Day preceding the proposed conversion date (which notice shall specify the length of the initial Interest Period therefor) not later than 11:00 A.M., New York City time, three Business Days prior to the date of conversion), provided that no ABR Loan may be converted into a Eurocurrency Eurodollar Loan when any Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.

Appears in 1 contract

Samples: Credit Agreement (Super MergerSub Inc.)

Conversion and Continuation Options. (a) The Borrower Representative may elect from time to time to convert Eurocurrency Eurodollar Loans denominated in Dollars to ABR Loans by giving the Administrative Agent prior irrevocable notice of such election not substantially in the form of Exhibit H no later than 11:00 10:00 A.M., New York City time, one time three Business Day Days prior to the date of conversion, proposed conversion date; provided that any such conversion of Eurocurrency Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto. The Borrower Representative may elect from time to time to convert its ABR Loans to Eurocurrency Eurodollar Loans denominated in Dollars by giving the Administrative Agent prior irrevocable notice of such election no later than 11:00 A.M., New York City time, on the third Business Day preceding the proposed conversion date (which notice shall specify the length of the initial Interest Period therefor) not later than 11:00 A.M., New York City time, three Business Days prior to the date of conversion, ); provided that no ABR Loan may be converted into a Eurocurrency Eurodollar Loan when any Event of Default or Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.

Appears in 1 contract

Samples: Credit Agreement (Aspen Insurance Holdings LTD)

Conversion and Continuation Options. (a) The Borrower may elect from time to time to convert Eurocurrency Eurodollar Loans denominated in Dollars to ABR Base Rate Loans by giving the Administrative Agent prior irrevocable notice notice, in substantially the form attached hereto as Exhibit G, of such election not no later than 11:00 A.M.12:00 Noon, New York City time, one on the Business Day prior to preceding the date of conversionproposed conversion date, provided that any such conversion of Eurocurrency Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto. The Borrower may elect from time to time to convert its ABR Base Rate Loans to Eurocurrency Eurodollar Loans denominated in Dollars by giving the Administrative Agent prior irrevocable notice of such election no later than 12:00 Noon, New York City time, on the third (3rd) Business Day preceding the proposed conversion date (which notice shall specify the length of the initial Interest Period therefor) not later than 11:00 A.M., New York City time, three Business Days prior to the date of conversion), provided that no ABR Base Rate Loan may be converted into a Eurocurrency Eurodollar Loan when any Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof.

Appears in 1 contract

Samples: Bridge Loan Agreement (Calpine Corp)

Conversion and Continuation Options. (a) The Borrower may elect from time to time to convert Eurocurrency Eurodollar Loans denominated in Dollars to ABR Loans by giving the Administrative Agent prior irrevocable notice of such election not no later than 11:00 10:00 A.M., New York City time, one on the Business Day prior to preceding the date of conversionproposed conversion date, provided PROVIDED that any such conversion of Eurocurrency Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto. The Borrower may elect from time to time to convert its ABR Loans to Eurocurrency Eurodollar Loans denominated in Dollars by giving the Administrative Agent prior irrevocable notice of such election no later than 10:00 A.M., New York City time, on the third Business Day preceding the proposed conversion date (which notice shall specify the length of the initial Interest Period therefor) not later than 11:00 A.M.), New York City time, three Business Days prior to the date of conversion, provided PROVIDED that no ABR Loan may be converted into a Eurocurrency Eurodollar Loan when any Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.

Appears in 1 contract

Samples: Revolving Credit Agreement (Bunge LTD)

AutoNDA by SimpleDocs

Conversion and Continuation Options. (a) The Borrower Company may elect from time to time to convert Eurocurrency Loans denominated in Dollars to ABR Loans by giving the Administrative Agent prior irrevocable notice of such election not no later than 11:00 A.M., New York City time, one on the third Business Day prior to preceding the date of conversionproposed conversion date, provided that any such conversion of Eurocurrency Loans may only be that is not made on the last day of an Interest Period with respect theretothereto shall be subject to Section 2.15(g). The Borrower Company may elect from time to time to convert its ABR Loans to Eurocurrency Loans denominated in Dollars by giving the Administrative Agent prior irrevocable notice of such election no later than 12:00 Noon, New York City time, on the third Business Day preceding the proposed conversion date (which notice shall specify the length of the initial Interest Period therefor) not later than 11:00 A.M., New York City time, three Business Days prior to the date of conversion, ); provided that no ABR Loan may be converted into a Eurocurrency Loan when any Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereofand the Company.

Appears in 1 contract

Samples: Revolving Credit Agreement (Ford Motor Co)

Conversion and Continuation Options. (a) The Borrower may elect from time to time to convert Eurocurrency SOFR Loans denominated in Dollars to ABR Base Rate Loans by giving the Administrative Agent prior irrevocable notice notice, in substantially the form attached hereto as Exhibit F, of such election not no later than 11:00 A.M.12:00 Noon, New York City time, one on the Business Day prior to preceding the date of conversionproposed conversion date, provided that any such conversion of Eurocurrency SOFR Loans may only be made on the last day of an Interest Period with respect thereto. The Borrower may elect from time to time to convert its ABR Base Rate Loans to Eurocurrency SOFR Loans denominated in Dollars by giving the Administrative Agent prior irrevocable notice of such election no later than 12:00 Noon, New York City time, on the third (3rd) Business Day preceding the proposed conversion date (which notice shall specify the length of the initial Interest Period therefor) not later than 11:00 A.M., New York City time, three Business Days prior to the date of conversion), provided that no ABR Base Rate Loan may be converted into a Eurocurrency SOFR Loan when any Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice notice, the Administrative Agent shall promptly notify each relevant Lender thereof.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Micron Technology Inc)

Conversion and Continuation Options. (a) The Borrower may elect from time to time to convert Eurocurrency Eurodollar Loans denominated in Dollars to ABR Loans by giving the Administrative Agent prior irrevocable notice of such election not no later than 11:00 A.M., New York City time, one on the third Business Day prior to preceding the date of conversionproposed conversion date, provided that any such conversion of Eurocurrency Eurodollar Loans may only be made on the last day of an Interest Period with respect theretothereto unless the Borrower pays applicable breakage costs. The Borrower may elect from time to time to convert its ABR Loans to Eurocurrency Eurodollar Loans denominated in Dollars by giving the Administrative Agent prior irrevocable notice of such election no later than 11:00 A.M., New York City time, on the third Business Day preceding the proposed conversion date (which notice shall specify the length of the initial Interest Period therefor) not later than 11:00 A.M., New York City time, three Business Days prior to the date of conversion), provided that no ABR Loan under a particular Facility may be converted into a Eurocurrency Eurodollar Loan when any Event of Default has occurred and is continuing and the Administrative Agent or the Required Majority Facility Lenders in respect of such Facility have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.

Appears in 1 contract

Samples: Term Loan Agreement (Wheeling Pittsburgh Corp /De/)

Conversion and Continuation Options. (a) The applicable Borrower may elect from time to time to convert Eurocurrency Loans that are denominated in Dollars to ABR Loans by giving the Administrative Agent prior irrevocable notice of such election not no later than 11:00 A.M.12:00 P.M., New York City time, one on the Business Day prior to preceding the date of conversionproposed conversion date, provided that any such conversion of Eurocurrency Loans may only be made on the last day of an Interest Period with respect thereto. The applicable Borrower may elect from time to time to convert its ABR Loans to Eurocurrency Loans denominated in Dollars by giving the Administrative Agent prior irrevocable notice of such election no later than 12:00 P.M., New York City time, on the third Business Day preceding the proposed conversion date (which notice shall specify the length of the initial Interest Period therefor) not later than 11:00 A.M., New York City time, three Business Days prior to the date of conversion), provided that no ABR Loan under a particular Facility may be converted into a Eurocurrency Loan when any Event of Default has occurred and is continuing and the Administrative Agent or the Required Majority Facility Lenders in respect of such Facility have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.

Appears in 1 contract

Samples: Credit Agreement (Tempur Sealy International, Inc.)

Conversion and Continuation Options. (a) The Borrower Company may elect from time to time to convert Eurocurrency Loans denominated in Dollars to ABR Loans by giving the Administrative Agent prior irrevocable notice of such election not no later than 11:00 A.M., New York City time, one on the third Business Day prior to preceding the date of conversionproposed conversion date, provided that any such conversion of Eurocurrency Loans may only be that is not made on the last day of an Interest Period with respect theretothereto shall be subject to Section β€Ž2.15(g)2.16. The Borrower Company may elect from time to time to convert its ABR Loans to Eurocurrency Loans denominated in Dollars by giving the Administrative Agent prior irrevocable notice of such election no later than 12:00 Noon, New York City time, on the third Business Day preceding the proposed conversion date (which notice shall specify the length of the initial Interest Period therefor) not later than 11:00 A.M., New York City time, three Business Days prior to the date of conversion, ); provided that no ABR Loan under a particular Facility may be converted into a Eurocurrency Loan when any Event of Default has occurred and is continuing and the Administrative Agent or the Required RequiredMajority Facility Lenders in respect of such Facility have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereofand the Company.

Appears in 1 contract

Samples: Amendment Agreement (Ford Motor Co)

Conversion and Continuation Options. (a) The Borrower Company may elect from time to time to convert Eurocurrency Loans denominated in Dollars to ABR Loans by giving the Administrative Agent prior irrevocable notice of such election not no later than 11:00 A.M., New York City time, one on the third Business Day prior to preceding the date of conversionproposed conversion date, provided that any such conversion of Eurocurrency Loans may only be that is not made on the last day of an Interest Period with respect theretothereto shall be subject to Section 2.14(g). The Borrower Company may elect from time to time to convert its ABR Loans to Eurocurrency Loans denominated in Dollars by giving the Administrative Agent prior irrevocable notice of such election no later than 12:00 Noon, New York City time, on the third Business Day preceding the proposed conversion date (which notice shall specify the length of the initial Interest Period therefor) not later than 11:00 A.M., New York City time, three Business Days prior to the date of conversion, ); provided that no ABR Loan may be converted into a Eurocurrency Loan when any Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereofand the Company.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Ford Motor Co)

Conversion and Continuation Options. (a) The Borrower Company may elect from time to time to convert Eurocurrency Loans denominated in Dollars to ABR Loans by giving the Administrative Agent irrevocable notice of such election not later than 11:00 A.M., New York City time, one Business Day prior to the date of conversion, provided that any such conversion of Eurocurrency Loans may only be made on the last day of an Interest Period with respect thereto. The Borrower Company may elect from time to time to convert its ABR Loans to Eurocurrency Loans denominated in Dollars by giving the Administrative Agent irrevocable notice of such election (which notice shall specify the length of the initial Interest Period therefor) not later than 11:00 A.M., New York City time, three Business Days prior to the date of conversion, provided that no ABR Loan may be converted into a Eurocurrency Loan denominated in Dollars when any Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.

Appears in 1 contract

Samples: Credit Agreement (Grey Global Group Inc)

Conversion and Continuation Options. (a) The Borrower may elect from time to time to convert Eurocurrency Eurodollar Loans denominated in Dollars to ABR Base Rate Loans by giving the Administrative Agent prior irrevocable notice of such election not in the form of Exhibit M hereto no later than 11:00 A.M., New York City time, one on the Business Day prior to preceding the date of conversionproposed conversion date, provided that any such conversion of Eurocurrency Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto. The Borrower may elect from time to time to convert its ABR Base Rate Loans to Eurocurrency Eurodollar Loans denominated in Dollars by giving the Administrative Agent prior irrevocable notice of such election no later than 11:00 A.M., New York City time, on the Business Day preceding the proposed conversion date (which notice shall specify the length of the initial Interest Period therefor) not later than 11:00 A.M., New York City time, three Business Days prior to the date of conversion), provided that no ABR Base Rate Loan may be converted into a Eurocurrency Eurodollar Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.

Appears in 1 contract

Samples: Credit Agreement (Muzak Holdings LLC)

Conversion and Continuation Options. (a) The Borrower may elect from time to time to convert Eurocurrency Eurodollar Loans denominated in Dollars to ABR Base Rate Loans by giving the Administrative Agent prior irrevocable notice of such election not in the form of Exhibit M hereto no later than 11:00 A.M., New York City time, one on the Business Day prior to preceding the date of conversionproposed conversion date, provided that any such conversion of Eurocurrency Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto. The Borrower may elect from time to time to convert its ABR Base Rate Loans to Eurocurrency Eurodollar Loans denominated in Dollars by giving the Administrative Agent prior irrevocable notice of such election no later than 11:00 A.M., New York City time, on the Business Day preceding the proposed conversion date (which notice shall specify the length of the initial Interest Period therefor) not later than 11:00 A.M., New York City time, three Business Days prior to the date of conversion), provided that no ABR Base Rate Loan under a particular Facility may be converted into a Eurocurrency Eurodollar Loan when any Event of Default has occurred and is continuing and the Administrative Agent or the Required Majority Facility Lenders in respect of such Facility have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.

Appears in 1 contract

Samples: Credit Agreement (Muzak Holdings LLC)

Conversion and Continuation Options. (ae) The Any Borrower may elect from time to time to convert Eurocurrency Eurodollar Loans denominated in Dollars made to it to ABR Loans by giving the Administrative Agent prior irrevocable notice of such election not no later than 11:00 A.M., New York City time, one on the Business Day prior to preceding the date of conversionproposed conversion date, provided that any such conversion of Eurocurrency Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto. The Any Borrower may elect from time to time to convert its ABR Loans made to Eurocurrency it to Eurodollar Loans denominated in Dollars by giving the Administrative Agent prior irrevocable notice of such election no later than 11:00 A.M., New York City time, on the third Business Day preceding the proposed conversion date (which notice shall specify the length of the initial Interest Period therefor) not later than 11:00 A.M., New York City time, three Business Days prior to the date of conversion), provided that no ABR Loan under a particular Facility may be converted into a Eurocurrency Eurodollar Loan when any Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.

Appears in 1 contract

Samples: Credit Agreement (Essent Group Ltd.)

Conversion and Continuation Options. (a) The Borrower may elect from time to time to convert Eurocurrency Eurodollar Loans denominated in Dollars to ABR Base Rate Loans by giving the Administrative Agent prior irrevocable notice of such election not in the form of Exhibit M hereto no later than 11:00 A.M., New York City time, one on the Business Day prior to preceding the date of conversionproposed conversion date, provided that any such conversion of Eurocurrency Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto. The Borrower may elect from time to time to convert its ABR Base Rate Loans to Eurocurrency Eurodollar Loans denominated in Dollars by giving the Administrative Agent prior irrevocable notice of such election no later than 11:00 A.M., New York City time, on the Business Day preceding the proposed conversion date (which notice shall specify the length of the initial Interest Period therefor) not later than 11:00 A.M., New York City time, three Business Days prior to the date of conversion), provided that no ABR Base Rate Loan under the Facility may be converted into a Eurocurrency Eurodollar Loan when any Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.

Appears in 1 contract

Samples: Credit Agreement (Business Sound Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.