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Commencement of Interest Period. In the case of any borrowing of, conversion to or continuation of any LIBOR Rate Loan, the Interest Period shall commence on the date of advance or continuation of, or conversion to, any LIBOR Rate Loan and, in the case of immediately successive Interest Periods, each successive Interest Period shall commence on the date on which the immediately preceding Interest Period expires. Upon a conversion from a LIBOR Rate Loan to a Base Rate Loan, interest at the Base Rate Option shall commence on the last day of the existing Interest Period.

Commencement of Interest Period. In the case of any borrowing of, conversion to or continuation of any LIBOR Rate Loan, the Interest Period shall commence on the date of advance or continuation of,of or conversion to,to any LIBOR Rate Loan and, in the case of immediately successive Interest Periods, each successive Interest Period shall commence on the date on which the immediately preceding Interest Period expires. Upon a conversion from a LIBOR Rate Loan to a Base Rate Loan, interest at the Base Rate Option shall commence on the last day of the existing Interest Period.expires;

Commencementthe initial Interest Period for any Borrowing of Interest Period. In the case of any borrowing of, conversion to or continuation of any LIBOR Rate Loan, the Interest PeriodLoans shall commence on the date of advance or continuation of, orsuch Borrowing (including the date of any conversion to, any LIBOR Rate Loan and,from a Borrowing of ABR Loans) and each Interest Period occurring thereafter in the caserespect of immediately successive Interest Periods, each successive Interest Periodsuch Borrowing shall commence on the dateday on which the immediatelynext preceding Interest Period expires. Upon a conversion from a LIBOR Rate Loan to a Base Rate Loan, interest at the Base Rate Option shall commence on the last day of the existing Interest Period.expires;

Commencement of Interest Period. In the case of any borrowing of, conversionPeriod” means, as to or continuation of anyeach LIBOR Rate Loan, the Interest Period shall commenceperiod commencing on the date of advance or continuation of, or conversion to, anysuch LIBOR Rate Loan and, in the case of immediately successive Interest Periods, each successive Interest Period shall commence on the date on which the immediately preceding Interest Period expires. Upon a conversion fromis disbursed or converted to or continued as a LIBOR Rate Loan to a Base Rate Loan, interest at the Base Rate Option shall commenceand ending on the last daydate one (1), two (2), three (3), or six (6) months thereafter, in each case as selected by the Borrower in its Notice of the existing Interest Period.Borrowing or Notice of Conversion/Continuation and subject to availability; provided that:

Commencement“Interest Period” means, with respect to each LIBOR Rate Loan, a period commencing on the date of Interest Period. In the casemaking of any borrowing of, conversion to orsuch LIBOR Rate Loan (or the continuation of anya LIBOR Rate Loan,Loan or the conversion of a Base Rate Loan to a LIBOR Rate Loan) and ending 1, 2, 3 or 6 months thereafter; provided, that # interest shall accrue at the applicable rate based upon the LIBOR Rate from and including the first day of each Interest Period to, but excluding, the day on which any Interest Period expires, # any Interest Period that would end on a day that is not a Business Day shall be extended to the next succeeding Business Day unless such Business Day falls in another calendar month, in which case such Interest Period shall end on the next preceding Business Day, # with respect to an Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period), the Interest Period shall commenceend on the datelast Business Day of advancethe calendar month that is 1, 2, 3 or continuation of, or conversion to, any LIBOR Rate Loan and, in the case of immediately successive Interest Periods, each successive Interest Period shall commence on6 months after the date on which the immediately preceding Interest Period expires. Upon a conversion from a LIBOR Rate Loan to a Base Rate Loan, interest atbegan, as applicable, and # Borrowers may not elect an Interest Period which will end after the Base Rate Option shall commence on the last day of the existing Interest Period.Maturity Date.

Commencement of Interest Period. In the case of any borrowing of, conversionWith respect to or continuation of any LIBOR Rate Loan, the Interest Period shall commence on the date of advance or continuation of, or conversion to, anyeach LIBOR Rate Loan and, in# initially, the case of immediately successive Interest Periods, each successive Interest Period shall commenceperiod commencing on the dateDrawdown Date of such LIBOR Rate Loan and ending one, two, three, or six months thereafter and # thereafter, each period commencing on which the immediatelyday following the last day of the next preceding Interest Period expires. Upon a conversion from a LIBOR Rateapplicable to such Loan to a Base Rate Loan, interest at the Base Rate Option shall commenceand ending on the last day of one of the existingperiods set forth above, as selected by the Borrower in a Loan Request or Conversion/Continuation Request; provided that all of the foregoing provisions relating to Interest Period.Periods are subject to the following:

Commencement"Interest Period" means, with respect to each LIBOR Rate Loan, a period commencing on the date of Interest Period. In the casemaking of any borrowing of, conversion to orsuch LIBOR Rate Loan (or the continuation of anya LIBOR Rate Loan,Loan or the conversion of a Base Rate Loan to a LIBOR Rate Loan) and ending 1, 2 or 3 months thereafter; provided, that # interest shall accrue at the applicable rate based upon the LIBOR Rate from and including the first day of each Interest Period to, but excluding, the day on which any Interest Period expires, # any Interest Period that would end on a day that is not a Business Day shall be extended to the next succeeding Business Day unless such Business Day falls in another calendar month, in which case such Interest Period shall end on the next preceding Business Day, # with respect to an Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period), the Interest Period shall commenceend on the datelast Business Day of advancethe calendar month that is 1, 2 or continuation of, or conversion to, any LIBOR Rate Loan and, in the case of immediately successive Interest Periods, each successive Interest Period shall commence on3 months after the date on which the immediately preceding Interest Period expires. Upon a conversion from a LIBOR Rate Loan to a Base Rate Loan, interest atbegan, as applicable, and # Borrower may not elect an Interest Period which will end after the Base Rate Option shall commence on the last day of the existing Interest Period.Maturity Date.

CommencementSelection of Interest Period. InRate Options. If the case of any borrowing of, conversionBorrower elects to orcontinue a LIBOR Rate Loan but fails to select a new Interest Period to apply thereto, then a one month Interest Period automatically shall apply. If the Borrower fails to duly request the continuation of any Borrowing consisting of LIBOR Rate Loan, the Interest Period shall commenceLoans on or before the date specified and otherwise in accordance with the provisions of advance or continuation of, or conversion to, anythis [Section 2.3], then such LIBOR Rate Loan and, in the case of immediately successive Interest Periods, each successive Interest Periodautomatically shall commence on the date on which the immediately preceding Interest Period expires. Upon a conversion from a LIBOR Rate Loanbe converted to a Base Rate Loan, interest at the Base Rate Option shall commencecommencing on the last day of the existing Interest Period.Period then in effect.

Commencement of Interest Period. In the case of any borrowing of, conversionWith respect to or continuation of any LIBOR Rate Loan, the Interest Period shall commence on the date of advance or continuation of, or conversion to, anyeach LIBOR Rate Loan and, in# initially, the case of immediately successive Interest Periods, each successive Interest Period shall commenceperiod commencing on the dateDrawdown Date of such LIBOR Rate Loan and ending one or three months thereafter and # thereafter, each period commencing on which the immediatelyday following the last day of the next preceding Interest Period expires. Upon a conversion from a LIBOR Rateapplicable to such Loan to a Base Rate Loan, interest at the Base Rate Option shall commenceand ending on the last day of one of the existingperiods set forth above, as selected by the Borrower in a Loan Request or Conversion/Continuation Request; provided that all of the foregoing provisions relating to Interest Period.Periods are subject to the following:

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