IN EFFECT OF ALL REVOLVING CREDIT LENDERS IN RESPECT OF SUCH
FACILITY (OTHER THAN ANY INCREMENTAL COMMITMENTS OF INCREASING LENDERS) MINUS
(Y) THE AVAILABILITY REDUCTION AMOUNT ATTRIBUTABLE TO SUCH FACILITY.
2.11.
Conversion and Continuation Options.
(h)Each Borrower may elect from
time to time to convert Eurocurrency Loans denominated in Dollars to Base Rate
Loans by giving the Agent at least one Business Day's prior irrevocable notice
of such election; provided that any such conversion of Eurocurrency Loans may
only be made on the last day of an Interest Period with respect thereto.
Each
Borrower may elect from time to time to convert Base Rate Loans to Eurocurrency
Loans denominated in Dollars by giving the Agent at least three Business Days'
prior irrevocable notice of such election.
Any such notice of conversion to
Eurocurrency Loans shall specify the length of the initial Interest Period or
Interest Periods therefor.
Upon receipt of any such notice the Agent shall
promptly notify each relevant Lender thereof.
All or any part of outstanding
Eurocurrency Loans denominated in Dollars and Base Rate Loans may be converted
as provided herein; provided that (i) no Loan may be converted into a
Eurocurrency Loan when any Event of Default has occurred and is continuing and
the Agent has or the Majority Lenders have determined that such conversion is
not appropriate and (ii) no Loan may be converted into a Eurocurrency Loan after
the date that is one month prior to the Termination Date.
(A)
ANY EUROCURRENCY LOANS MAY BE CONTINUED AS EUROCURRENCY LOANS IN THE SAME
CURRENCY UPON THE EXPIRATION OF THE THEN CURRENT INTEREST PERIOD WITH RESPECT
THERETO BY THE APPLICABLE BORROWER GIVING NOTICE TO THE AGENT, IN ACCORDANCE
WITH THE APPLICABLE PROVISIONS OF THE TERM "INTEREST PERIOD" SET FORTH IN
SUBSECTION 1.1, OF THE LENGTH OF THE NEXT INTEREST PERIOD TO BE APPLICABLE TO
SUCH LOANS; PROVIDED THAT (I) NO EUROCURRENCY LOAN MAY BE CONTINUED AS SUCH WHEN
ANY EVENT OF DEFAULT HAS OCCURRED AND IS CONTINUING AND THE AGENT HAS OR THE
MAJORITY LENDERS HAVE DETERMINED THAT SUCH CONTINUATION IS NOT APPROPRIATE AND
(II) NO EUROCURRENCY LOAN MAY BE CONTINUED AS SUCH AFTER THE DATE THAT IS ONE
MONTH PRIOR TO THE TERMINATION DATE AND PROVIDED, FURTHER, THAT IF (A) THE
APPLICABLE BORROWER SHALL FAIL TO GIVE ANY REQUIRED NOTICE AS DESCRIBED ABOVE IN
THIS PARAGRAPH, SUCH EUROCURRENCY LOANS SHALL BE CONTINUED ON THE LAST DAY OF
THE THEN CURRENT INTEREST PERIOD AS EUROCURRENCY LOANS WITH AN INTEREST PERIOD
OF ONE MONTH AND (B) IF SUCH CONTINUATION IS NOT PERMITTED PURSUANT TO THE
PRECEDING PROVISO (I) ANY SUCH EUROCURRENCY LOANS DENOMINATED IN DOLLARS SHALL
BE AUTOMATICALLY CONVERTED TO BASE RATE LOANS AND (II) ANY SUCH EUROCURRENCY
LOANS DENOMINATED IN AN AVAILABLE FOREIGN CURRENCY SHALL BE DEEMED TO BE
EXCHANGED FOR THE EQUIVALENT AMOUNT THEREOF IN DOLLARS AND AUTOMATICALLY
CONVERTED TO BASE RATE LOANS, IN EACH CASE ON THE LAST DAY OF SUCH THEN EXPIRING
INTEREST PERIOD.
2.12.
Minimum Amounts of Eurocurrency Borrowings; Interest Periods.
All
Revolving