Section # Certain Notices Regarding Elections, Conversions and Continuations of Loans. Notices by [[Organization A:Organization]] to [[administrative agent for the Banks:Organization]] of Elections, Conversions and Continuations of LIBOR Loans shall be irrevocable and shall be effective only if received by [[administrative agent for the Banks:Organization]] not later than 11:00 a.m. (New York time) on the number of Banking Days prior to the date of the relevant Election, Conversion or Continuation specified below:

Promptly following its receipt of any such notice, [[administrative agent for the Banks:Organization]] shall so advise [[Organization B:Organization]] by facsimile. Each such notice of Election shall specify the portion of the amount of the advance that is to be LIBOR Loans (subject to [Section 2.13]) and the duration of the Interest Period applicable thereto (subject to [Section 2.06]); each such notice of Conversion shall specify the LIBOR Loans or Base Rate Loans to be Converted; and each such notice of Conversion or Continuation shall specify the date of Conversion or Continuation (which shall be a Banking Day), the amount thereof (subject to [Section 2.13]) and the duration of the Interest Period applicable thereto (subject to [Section 2.06]). In the event that [[Organization A:Organization]] fails to Elect to have any portion of an advance of the Loans be LIBOR Loans, the portion of such advance for which a LIBOR Loan Election is not made shall constitute Base Rate Loans. In the event that [[Organization A:Organization]] fails to Continue LIBOR Loans within the time period and as otherwise provided in this Section, such LIBOR Loans will be automatically Converted into Base Rate Loans on the last day of the then current applicable Interest Period for such LIBOR Loans.