Common use of Conversion of Loans Clause in Contracts

Conversion of Loans. The Borrower may from time to time Convert any Loan (or portion thereof) of any Type to one or more Loans of the same or any other Type by delivering a notice of such Conversion (a “Notice of Conversion”) to the Administrative Agent no later than 1:00 p.m. on (x) the third Business Day prior to the date of any proposed Conversion into a LIBOR Rate Loan and (y) the same Business Day as to the date of any proposed Conversion into a Base Rate Loan. The Administrative Agent shall give each Lender prompt notice of each Notice of Conversion. Each Notice of Conversion shall be in substantially the form of Exhibit B and shall specify (i) the requested date of such Conversion, (ii) the Type of, and Interest Period, if any, applicable to, the Loans (or portions thereof) proposed to be Converted, (iii) the requested Type of Loans to which such Loans (or portions thereof) are proposed to be Converted, (iv) the requested initial Interest Period, if any, to be applicable to the Loans resulting from such Conversion and (v) the aggregate amount of Loans (or portions thereof) proposed to be Converted. Each proposed Conversion shall be subject to the provisions of Sections 3.3 and 3.4.

Appears in 6 contracts

Samples: Credit Agreement (Nv Energy, Inc.), Credit Agreement (Nv Energy, Inc.), Credit Agreement (Nv Energy, Inc.)

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Conversion of Loans. The Borrower may from time to time Convert any Loan (or portion thereof) of any Type to one or more Loans of the same or any other Type by delivering a notice of such Conversion (a “Notice of Conversion”"NOTICE OF CONVERSION") to the Administrative Agent no later than 1:00 p.m. 12:00 noon on (x) the third Business Day prior to the date of any proposed Conversion into a LIBOR Eurodollar Rate Loan and (y) the same first Business Day as prior to the date of any proposed Conversion into a Base Rate an ABR Loan. The Administrative Agent shall give each Lender prompt notice of each Notice of Conversion. Each Notice of Conversion shall be in substantially the form of Exhibit B and shall specify (i) the requested date of such Conversion, (ii) the Type of, and Interest Period, if any, applicable to, the Loans (or portions thereof) proposed to be Converted, (iii) the requested Type of Loans to which such Loans (or portions thereof) are proposed to be Converted, (iv) the requested initial Interest Period, if any, to be applicable to the Loans resulting from such Conversion and (v) the aggregate amount of Loans (or portions thereof) proposed to be Converted. Each proposed Conversion shall be subject to the provisions of Sections 3.3 3.03 and 3.43.04.

Appears in 5 contracts

Samples: Credit Agreement (Consumers Energy Co), Credit Agreement (Consumers Energy Co), Credit Agreement (Consumers Energy Co)

Conversion of Loans. The Borrower may from time to time Convert any Loan (or portion thereof) of any Type to one or more Loans of the same or any other Type by delivering a notice of such Conversion (a “Notice of Conversion”"NOTICE OF CONVERSION") to the Administrative Agent no later than 1:00 p.m. 12:00 noon (New York City time) on (x) the third Business Day prior to the date of any proposed Conversion into a LIBOR Eurodollar Rate Loan and (y) the same first Business Day as prior to the date of any proposed Conversion into a Base Rate an ABR Loan. The Administrative Agent shall give each Lender prompt notice of each Notice of Conversion. Each Notice of Conversion shall be in substantially the form of Exhibit B and shall specify (i) the requested date of such Conversion, (ii) the Type of, and Interest Period, if any, applicable to, the Loans (or portions thereof) proposed to be Converted, (iii) the requested Type of Loans to which such Loans (or portions thereof) are proposed to be Converted, (iv) the requested initial Interest Period, if any, to be applicable to the Loans resulting from such Conversion and (v) the aggregate amount of Loans (or portions thereof) proposed to be Converted. Each proposed Conversion shall be subject to the provisions of Sections 3.3 3.03 and 3.43.04.

Appears in 3 contracts

Samples: Credit Agreement (Panhandle Eastern Pipe Line Co), Credit Agreement (Panhandle Eastern Pipe Line Co), Credit Agreement (Panhandle Eastern Pipe Line Co)

Conversion of Loans. The Each Borrower may from time to time Convert any Loan of its Loans (or portion portions thereof) of any Type to one or more Loans of the same or any other Type by delivering a notice of such Conversion (a “Notice of Conversion”"NOTICE OF CONVERSION") to the Administrative Agent (x) no later than 1:00 p.m. 12:00 noon (New York City time) on (x) the third Business Day prior to the date of any proposed Conversion into a LIBOR Eurodollar Rate Loan and (y) the same Business Day as to no later than 11:00 a.m. (New York City time) on the date of any proposed Conversion into a Base Rate an ABR Loan. The Administrative Agent shall give each Lender prompt notice of each Notice of Conversion. Each Notice of Conversion shall be in substantially the form of Exhibit B and shall specify (i) the requested date of such Conversion, (ii) the Type of, and Interest Period, if any, applicable to, the Loans (or portions thereof) proposed to be Converted, (iii) the requested Type of Loans to which such Loans (or portions thereof) are proposed to be Converted, (iv) the requested initial Interest Period, if any, to be applicable to the Loans resulting from such Conversion and Conversion, (v) the aggregate amount of Loans (or portions thereof) proposed to be ConvertedConverted and (vi) the identity of the applicable Borrower. Each proposed Conversion shall be subject to the provisions of Sections 3.3 3.03 and 3.43.04.

Appears in 3 contracts

Samples: Credit Agreement (CMS Energy Corp), Credit Agreement (CMS Energy Corp), Credit Agreement (CMS Energy Corp)

Conversion of Loans. The Borrower may from time to time Convert any Loan of the Loans (or portion portions thereof) of any Type to one or more Loans of the same or any other Type by delivering a notice of such Conversion (a “Notice of Conversion”) to the Administrative Agent (x) no later than 1:00 p.m. 12:00 noon (New York City time) on (x) the third Business Day prior to the date of any proposed Conversion into a LIBOR Eurodollar Rate Loan and (y) the same Business Day as to no later than 11:00 a.m. (New York City time) on the date of any proposed Conversion into a Base Rate an ABR Loan. The Administrative Agent shall give each Lender prompt notice of each Notice of Conversion. Each Notice of Conversion shall be in substantially the form of Exhibit B and shall specify (i) the requested date of such Conversion, (ii) the Type of, and Interest Period, if any, applicable to, the Loans (or portions thereof) proposed to be Converted, (iii) the requested Type of Loans to which such Loans (or portions thereof) are proposed to be Converted, (iv) the requested initial Interest Period, if any, to be applicable to the Loans resulting from such Conversion and (v) the aggregate amount of Loans (or portions thereof) proposed to be Converted. Each proposed Conversion shall be subject to the provisions of Sections 3.3 3.03 and 3.43.04.

Appears in 2 contracts

Samples: Credit Agreement (Consumers Energy Co), Credit Agreement (CMS Energy Corp)

Conversion of Loans. The Borrower may from time to time Convert any Loan (or portion thereof) of any Type to one or more Loans of the same or any other Type by delivering a notice of such Conversion (a “Notice of Conversion”"NOTICE OF CONVERSION") to the Administrative Agent no later than 1:00 p.m. 3:00 P.M. on (x) the third Business Day prior to the date of any proposed Conversion into a LIBOR Eurodollar Rate Loan and (y) the same first Business Day as prior to the date of any proposed Conversion into a Base Rate an ABR Loan. The Administrative Agent shall give each Lender prompt notice of each Notice of Conversion. Each Notice of Conversion shall be in substantially the form of Exhibit B and shall specify (i) the requested date of such Conversion, (ii) the Type of, and Interest Period, if any, applicable to, the Loans (or portions thereof) proposed to be Converted, (iii) the requested Type of Loans to which such Loans (or portions thereof) are proposed to be Converted, (iv) the requested initial Interest Period, if any, to be applicable to the Loans resulting from such Conversion and (v) the aggregate amount of Loans (or portions thereof) proposed to be Converted. Each proposed Conversion shall be subject to the provisions of Sections 3.3 3.03 and 3.43.04.

Appears in 2 contracts

Samples: Credit Agreement (Sierra Pacific Resources /Nv/), Credit Agreement (Sierra Pacific Resources /Nv/)

Conversion of Loans. The Each Borrower may from time to time Convert any Loan (or portion thereof) of any Type made to such Borrower to one or more Loans of the same or any other Type by delivering a notice of such Conversion (a “Notice of Conversion”) to the Administrative Agent no later than 1:00 p.m. 11:00 A.M. on (x) the third Business Day prior to the date of any proposed Conversion into a LIBOR Eurodollar Rate Loan and (y) the same first Business Day as prior to the date of any proposed Conversion into a Base Rate an ABR Loan. The Administrative Agent shall give each Lender prompt notice of each Notice of Conversion. Each Notice of Conversion shall be in substantially the form of Exhibit B and shall specify (i) the requested date of such ConversionConversion (which shall be a Business Day), (ii) the Type of, and Interest Period, if any, applicable to, the Loans (or portions thereof) proposed to be Converted, (iii) the requested Type of Loans to which such Loans (or portions thereof) are proposed to be Converted, (iv) the requested initial Interest Period, if any, to be applicable to the Loans resulting from such Conversion and (v) the aggregate amount of Loans (or portions thereof) proposed to be Converted. Each proposed Conversion shall be subject to the provisions of Sections 3.3 3.03 and 3.43.04.

Appears in 2 contracts

Samples: Credit Agreement (Unisource Energy Corp), Credit Agreement (Tucson Electric Power Co)

Conversion of Loans. The Borrower may from time to time Convert any Loan (or portion thereof) of any Type to one or more Loans of the same or any other Type by delivering a notice of such Conversion (a “Notice of Conversion”) to the Administrative Agent no later than 1:00 p.m. 12:00 noon on (x) the third Business Day prior to the date of any proposed Conversion into a LIBOR Eurodollar Rate Loan and (y) the same first Business Day as prior to the date of any proposed Conversion into a Base Rate an ABR Loan. The Administrative Agent shall give each Lender prompt notice of each Notice of Conversion. Each Notice of Conversion shall be in substantially the form of Exhibit B and shall specify (i) the requested date of such Conversion, (ii) the Type of, and Interest Period, if any, applicable to, the Loans (or portions thereof) proposed to be Converted, (iii) the requested Type of Loans to which such Loans (or portions thereof) are proposed to be Converted, (iv) the requested initial Interest Period, if any, to be applicable to the Loans resulting from such Conversion and (v) the aggregate amount of Loans (or portions thereof) proposed to be Converted. Each proposed Conversion shall be subject to the provisions of Sections 3.3 3.03 and 3.43.04.

Appears in 2 contracts

Samples: Credit Agreement (Duquesne Light Holdings Inc), Credit Agreement (Duquesne Light Holdings Inc)

Conversion of Loans. The Borrower may from time to time Convert any Loan (or portion thereof) of any Type to one or more Loans of the same or any other Type by delivering a notice of such Conversion (a “Notice of Conversion”"NOTICE OF CONVERSION") to the Administrative Agent no later than 1:00 p.m. 12:00 noon on (x) the third Business Day prior to the date of any proposed Conversion into a LIBOR Eurodollar Rate Loan and (y) the same first Business Day as prior to the date of any proposed Conversion into a Base Rate an ABR Loan. The Administrative Agent shall give each Lender prompt notice of each Notice of Conversion. Each Notice of Conversion shall be in substantially the form of Exhibit B and shall specify (i) the requested date of such Conversion, (ii) the Type of, and Interest Period, if any, applicable to, the Loans (or portions thereof) proposed to be Converted, (iii) the requested Type of Loans to which such Loans (or portions thereof) are proposed to be Converted, (iv) the requested initial Interest Period, if any, to be applicable to the Loans resulting from such Conversion and (v) the aggregate amount of Loans (or portions thereof) proposed to be Converted. Each proposed Conversion shall be subject to the provisions of Sections 3.3 3.03 and 3.43.04. This Section shall not apply to Swingline Loans, which may not be Converted.

Appears in 1 contract

Samples: Credit Agreement (CMS Energy Corp)

Conversion of Loans. The Borrower may from time to time Convert any Loan (or portion thereof) of any Type to one or more Loans of the same or any other Type by delivering a notice of such Conversion (a "Notice of Conversion") to the Administrative Agent no later than 1:00 p.m. 2:00 P.M. on (x) the third Business Day prior to the date of any proposed Conversion into a LIBOR Rate Loan and (y) the same Business Day as to the date of any proposed Conversion into a Base Rate Loan. The Administrative Agent shall give each Lender prompt notice of each Notice of Conversion. Each Notice of Conversion shall be in substantially the form of Exhibit EXHIBIT B and shall specify (i) the requested date of such Conversion, (ii) the Type of, and Interest Period, if any, applicable to, the Loans (or portions thereof) proposed to be Converted, (iii) the requested Type of Loans to which such Loans (or portions thereof) are proposed to be Converted, (iv) the requested initial Interest Period, if any, to be applicable to the Loans resulting from such Conversion and (v) the aggregate amount of Loans (or portions thereof) proposed to be Converted. Each proposed Conversion shall be subject to the provisions of Sections 3.3 and 3.4.

Appears in 1 contract

Samples: Credit Agreement (Sierra Pacific Resources /Nv/)

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Conversion of Loans. The Borrower may from time to time Convert any Loan (or portion thereof) of any Type to one or more Loans of the same or any other Type by delivering a notice of such Conversion (a "Notice of Conversion") to the Administrative Agent no later than 1:00 p.m. 2:00 P.M. on (x) the third Business Day prior to the date of any proposed Conversion into a LIBOR Rate Loan and (y) the same Business Day as to the date of any proposed Conversion into a Base Rate Loan. The Administrative Agent shall give each Lender prompt notice of each Notice of Conversion. Each Notice of Conversion shall be in substantially the form of Exhibit EXHIBIT B and shall specify (i) the requested date of such Conversion, (ii) the Type of, and Interest Period, if any, applicable to, the Loans (or portions thereof) proposed to be Converted, (iii) the requested Type of Loans to which such Loans (or portions thereof) are proposed to be Converted, (iv) the requested initial Interest Period, if any, to be applicable to the Loans resulting from such Conversion and (v) the aggregate amount of Loans (or portions thereof) proposed to be Converted. Each proposed Conversion shall be subject to the provisions of Sections 3.3 and 3.4.3.4.Section 3.3

Appears in 1 contract

Samples: Credit Agreement (Sierra Pacific Resources /Nv/)

Conversion of Loans. The Borrower may from time to time Convert any Loan (or portion thereof) of any Type to into one or more Loans of the same or any other Type by delivering a notice of such Conversion (a "Notice of Conversion") to the Administrative Agent no later than 1:00 p.m. noon (Los Angeles time) on (x) the third Business Day prior to the date of any proposed Conversion into a LIBOR Eurodollar Rate Loan and (y) the same first Business Day as prior to the date of any proposed Conversion into a Base Rate an ABR Loan. The Administrative Agent NY3 - 402471.08 shall give each Lender prompt notice of each Notice of Conversion. Each Notice of Conversion shall be in substantially the form of Exhibit B and shall specify (i) the requested date of such Conversion, (ii) the Type of, and Interest Period, if any, applicable to, the Loans (or portions thereof) proposed to be Converted, (iii) the requested Type of Loans to which such Loans (or portions thereof) are proposed to be Converted, Converted and (iv) the requested initial Interest Period, if any, to be applicable to the Loans resulting from such Conversion and (v) the aggregate amount of Loans (or portions thereof) proposed to be Converted. Each proposed Conversion shall be subject to the provisions of Sections 3.3 3.03 and 3.43.04.

Appears in 1 contract

Samples: Credit Agreement (Aquila Inc)

Conversion of Loans. The Borrower may from time to time Convert any Loan (or portion thereof) of any Type to one or more Loans of the same or any other Type by delivering a notice of such Conversion (a "Notice of Conversion") to the Administrative Agent no later than 1:00 p.m. 12:00 noon on (x) the third Business Day prior to the date of any proposed Conversion into a LIBOR Eurodollar Rate Loan and (y) the same first Business Day as prior to the date of any proposed Conversion into a Base Rate an ABR Loan. The Administrative Agent shall give each Lender prompt notice of each Notice of Conversion. Each Notice of Conversion shall be in substantially the form of Exhibit B and shall specify (i) the requested date of such Conversion, (ii) the Tranche under which such Loan (or portion thereof) was made, (iii) the Type of, and Interest Period, if any, applicable to, the Loans (or portions thereof) proposed to be Converted, (iiiiv) the requested Type of Loans to which such Loans (or portions thereof) are proposed to be Converted, (ivv) the requested initial Interest Period, if any, to be applicable to the Loans resulting from such Conversion and (vvi) the aggregate amount of Loans (or portions thereof) proposed to be Converted. Each proposed Conversion shall be subject to the provisions of Sections 3.3 3.03 and 3.43.04.

Appears in 1 contract

Samples: Credit Agreement (CMS Energy Corp)

Conversion of Loans. The Each Borrower may from time to time Convert any Loan (or portion thereof) of any Type made to such Borrower to one or more Loans of the same or any other Type by delivering a notice of such Conversion (a “Notice of Conversion”"NOTICE OF CONVERSION") to the Administrative Agent no later than 1:00 p.m. 11:00 A.M. on (x) the third Business Day prior to the date of any proposed Conversion into a LIBOR Eurodollar Rate Loan and (y) the same first Business Day as prior to the date of any proposed Conversion into a Base Rate an ABR Loan. The Administrative Agent shall give each Lender prompt notice of each Notice of Conversion. Each Notice of Conversion shall be in substantially the form of Exhibit B and shall specify (i) the requested date of such ConversionConversion (which shall be a Business Day), (ii) the Type of, and Interest Period, if any, applicable to, the Loans (or portions thereof) proposed to be Converted, (iii) the requested Type of Loans to which such Loans (or portions thereof) are proposed to be Converted, (iv) the requested initial Interest Period, if any, to be applicable to the Loans resulting from such Conversion and (v) the aggregate amount of Loans (or portions thereof) proposed to be Converted. Each proposed Conversion shall be subject to the provisions of Sections 3.3 3.03 and 3.43.04.

Appears in 1 contract

Samples: Credit Agreement (Tucson Electric Power Co)

Conversion of Loans. The Each Borrower may from time to time Convert any Loan of its Loans (or portion portions thereof) of any Type to one or more Loans of the same or any other Type by delivering a notice of such Conversion (a “Notice of Conversion”"NOTICE OF CONVERSION") to the Administrative Agent no later than 1:00 p.m. 12:00 noon (New York City time) on (x) the third Business Day prior to the date of any proposed Conversion into a LIBOR Eurodollar Rate Loan and (y) the same first Business Day as prior to the date of any proposed Conversion into a Base Rate an ABR Loan. The Administrative Agent shall give each Lender prompt notice of each Notice of Conversion. Each Notice of Conversion shall be in substantially the form of Exhibit B and shall specify (i) the requested date of such Conversion, (ii) the Type of, and Interest Period, if any, applicable to, the Loans (or portions thereof) proposed to be Converted, (iii) the requested Type of Loans to which such Loans (or portions thereof) are proposed to be Converted, (iv) the requested initial Interest Period, if any, to be applicable to the Loans resulting from such Conversion and Conversion, (v) the aggregate amount of Loans (or portions thereof) proposed to be ConvertedConverted and (vi) the identity of the applicable Borrower. Each proposed Conversion shall be subject to the provisions of Sections 3.3 3.03 and 3.43.04.

Appears in 1 contract

Samples: Credit Agreement (CMS Energy Corp)

Conversion of Loans. The Borrower may from time to time Convert any Loan (or portion thereof) of any Type to into one or more Loans of the same or any other Type by delivering a notice of such Conversion (a "Notice of Conversion") to the Administrative Agent no later than 1:00 p.m. noon (Los Angeles time) on (x) the third Business Day prior to the date of any proposed Conversion into a LIBOR Eurodollar Rate Loan and (y) the same first Business Day as prior to the date of any proposed Conversion into a Base Rate an ABR Loan. The Administrative Agent shall give each Lender prompt notice of each Notice of Conversion. Each Notice of Conversion shall be in substantially the form of Exhibit B and shall specify (i) the requested date of such Conversion, (ii) the Type of, and Interest Period, if any, applicable to, the Loans (or portions thereof) proposed to be Converted, (iii) the requested Type of Loans to which such Loans (or portions thereof) are proposed to be Converted, (iv) the requested initial Interest Period, if any, to be applicable to the Loans resulting from such Conversion and (v) the aggregate amount of Loans (or portions thereof) proposed to be Converted. Each proposed Conversion shall be subject to the provisions of Sections 3.3 3.03 and 3.43.04. For avoidance of doubt, the Borrower may not Convert a Tranche 1 Loan into a Tranche 2 Loan, or a Tranche 2 Loan into a Tranche 1 Loan.

Appears in 1 contract

Samples: Credit Agreement (Aquila Inc)

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