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Content of Interest Election Requests
Content of Interest Election Requests contract clause examples

then the Administrative Agent shall give notice thereof to the Borrower and through an Approved Electronic Platform as provided in [Section 9.2by] telephone, telecopy or electronic mail as promptly as practicable thereafter and, until # the Administrative Agent notifies the Borrower and that the circumstances giving rise to such notice no longer exist with respect to the relevant Benchmark and # the Borrower delivers a new Interest Election Request in accordance with the terms of Section 2.13 or a new Borrowing Request in accordance with the terms of Section 2.5, # any Interest Election Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a LIBOR Loan shall be ineffective and any such LIBOR Loan shall be repaid or converted into an ABR Borrowing on the last day of the then current Interest Period applicable thereto,Term Benchmark Borrowing and # if any Borrowing Request that requests a LIBOR Loan, suchTerm Benchmark Borrowing shall be made as an ABR Borrowing.

then the Administrative Agent shall give notice thereof to the Borrowers and the Lenders by telephone, telecopy or electronic mail as promptly as practicable thereafter and, until # the Administrative Agent notifies the Borrowers and the Lenders that the circumstances giving rise to such notice no longer exist with respect to the relevant Revolving Credit Facility Benchmark and # the Borrowers deliver a new Interest Election Request in accordance with the terms of [Section 2.07], any Interest Election Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a Term Benchmark Borrowing shall instead be deemed to be an Interest Election Request for an ABR Borrowing; provided that if the circumstances giving rise to such notice affect only one Type of Borrowings, then all other Types of Borrowings shall be permitted. Furthermore, if any Term Benchmark Loan is outstanding on the date of the Borrowers’ receipt of the notice from the Administrative Agent referred to in this ‎[Section 2.14(b)] with respect to Adjusted Term SOFR, then until # the Administrative Agent notifies the Borrowers and the Lenders that the circumstances giving rise to such notice no longer exist with respect to the relevant Revolving Credit Facility Benchmark and # the Borrowers deliver a new Interest Election Request in accordance with the terms of [Section 2.07], any Term Benchmark Loan shall on the last day of the Interest Period applicable to such Loan, be converted by the Administrative Agent to, and shall constitute an ABR Loan.

then the Administrative Agent shall give notice thereof to the applicable Borrower and the applicable Lenders by telephone or telecopy as promptly as practicable thereafter and, subject to paragraph # of this Section, until the Administrative Agent notifies the applicable Borrower and the applicable Lenders that the circumstances giving rise to such notice no longer exist (it being agreed that the Administrative Agent will so notify the Company promptly after it becomes aware that such circumstances no longer exist), # any Interest Election Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as, an affected LIBOR Borrowing, EURIBOR Borrowing or CDOR Borrowing, as the case may be, shall be ineffective, # any affected LIBOR Borrowing, EURIBOR Borrowing or CDOR Borrowing that is requested to be continued shall # if denominated in US Dollars, be continued as an ABR Borrowing or # otherwise, be repaid on the last day of the then current Interest Period applicable thereto and # any Borrowing Request for an affected LIBOR Borrowing, EURIBOR Borrowing or CDOR Borrowing shall # if denominated in US Dollars, be deemed a request for an ABR Borrowing or # otherwise, be ineffective.

then the Administrative Agent shall give notice thereof to the Borrower and the Lenders by telephone, telecopy or other electronic transmission as promptly as practicable thereafter and, until the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, # any Interest Election Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a Eurodollar Borrowing, EURIBOR Borrowing, Australian Bank Bill Rate Borrowing, or Canadian BA Rate Borrowing, as the case may be, shall be ineffective, and # if any Borrowing Request requests a Eurodollar Borrowing, EURIBOR Borrowing, Australian Bank Bill Rate Borrowing, or Canadian BA Rate Borrowing, as the case may be, such Borrowing # if denominated in dollars, shall be made as an ABR Borrowing or # in all other cases, shall be ineffective (and no [[Organization C:Organization]] shall be obligated to make a Loan on account thereof).

then the Administrative Agent shall promptly give notice thereof to the Borrower and the by telephone or facsimile as promptly as practicable thereafter and, until the Administrative Agent notifies the Borrower and the that the circumstances giving rise to such notice no longer exist, which the Administrative Agent agrees promptly to do, # any Interest Election Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a LIBO RateTerm SOFR Borrowing shall be ineffective and such Borrowing shall be converted to an ABR Borrowing on the last day of the Interest Period applicable thereto, and # if any Borrowing Request requests a LIBO RateTerm SOFR Borrowing, such Borrowing shall be made as an ABR Borrowing.

then the Administrative Agent shall give notice thereof to the Borrower and the Lenders by telephone, telecopy or electronic mail as promptly as practicable thereafter and, until # the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, # with respect to the relevant Benchmark and # the Borrower delivers a new Interest Election Request in accordance with the terms of Section 2.08 or a new Borrowing Request in accordance with the terms of Section 2.03, any Interest Election Request that requests the conversion of any Revolving Borrowing to, or continuation of any Revolving Borrowing as, a Eurodollar Borrowing shall be ineffective and any such Eurodollar Borrowing shall be converted into an ABR BorrowingTerm Benchmark Borrowing and any Borrowing Request that requests a Term Benchmark Revolving Borrowing shall instead be deemed to be an Interest Election Request or a Borrowing Request, as applicable, for # an RFR Borrowing so long as the Adjusted Daily Simple SOFR is not also the subject of [Section 2.14(a)(i) or (ii)])] above or # an ABR Borrowing if the Adjusted Daily Simple SOFR also is the subject of [Section 2.14(a)(i) or (ii)])] above; provided that if the circumstances giving rise to such notice affect only one Type of Borrowing, then all other Types of Borrowings shall be permitted. Furthermore, if any Term Benchmark Loan or RFR Loan is outstanding on the date of the Borrower’s receipt of the notice from the Administrative Agent referred to in this [Section 2.14(a)] with respect to a Relevant Rate applicable to such Term Benchmark Loan or RFR Loan, then until # the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist with respect to the relevant Benchmark and # the Borrower delivers a new Interest Election Request in accordance with the terms of Section 2.08 or a new Borrowing Request in accordance with the terms of Section 2.03, # any Term Benchmark Loan shall on the last day of the then current Interest Period applicable thereto and # if any Borrowing Request requests a Eurodollar Borrowing, such Borrowing shall be made as an ABR Borrowing.to such Loan, be converted by the Administrative Agent to, and shall constitute, # an RFR Borrowing so long as the Adjusted Daily Simple SOFR is not also the subject of [Section 2.14(a)(i) or (ii)])] above or # an ABR Loan if the Adjusted Daily Simple SOFR also is the subject of [Section 2.14(a)(i) or (ii)])] above, on such day, and # any RFR Loan shall on and from such day be converted by the Administrative Agent to, and shall constitute an ABR Loan.

then the Administrative Agent shall give notice thereof to the Borrower and the Lenders as promptly as practicable thereafter and, until the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, # any Interest Election Request that requests the conversion of any Borrowing to, or the continuation of any Borrowing as, a Eurodollar Borrowing shall be ineffective and such Borrowing (unless prepaid) shall be continued as, or converted to, an ABR Borrowing upon the expiration of the Interest Period applicable thereto and, # if any Borrowing Request requests a Eurodollar Borrowing, such Borrowing shall be made as an ABR Borrowing.

then the Administrative Agent shall give notice thereof to the Borrower and the Lenders by telephone or fax or other electronic communications as promptly as practicable thereafter and, until # the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist with respect to the relevant Benchmark and # the Borrower delivers a new Interest Election Request in accordance with the terms of [Section 2.07] or a new Borrowing Request in accordance with the terms of [Section 2.03], any Interest Election Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a Term SOFR Borrowing and any Borrowing Request that requests a Term SOFR Borrowing shall instead be deemed to be an Interest Election Request or a Borrowing Request, as applicable, for an ABR Borrowing. Furthermore, if any Term SOFR Loan is outstanding on the date of the Borrower’s receipt of the notice from the Administrative Agent referred to in this [Section 2.14(a)] with respect to the Adjusted Term SOFR applicable to such Term SOFR Loan, then, until # the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist with respect to the relevant Benchmark and # such Borrower delivers a new Interest Election Request in accordance with the terms of [Section 2.07] or a new Borrowing Request in accordance with the terms of [Section 2.03], any Term SOFR Loan shall, on the last day of the Interest Period applicable to such Loan, convert to, and shall constitute, an ABR Loan.

then the Administrative Agent shall give notice thereof to the Borrower and the Lenders by telephone or facsimile transmission as promptly as practicable thereafter and, until the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, # any Interest Election Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a Eurodollar Borrowing shall be ineffective and any such Eurodollar Borrowing shall be repaid on the last day of the then current Interest Period applicable thereto and # if any Borrowing Request requests a Eurodollar Borrowing, such Borrowing shall be made as an ABR Borrowing.

then the Administrative Agent shall give notice (which may be telephonic) thereof to the Borrower and the Lenders of such Class as promptly as practicable and, until the Administrative Agent notifies the Borrower and the Lenders of such Class that the circumstances giving rise to such notice no longer exist, # any Interest Election Request that requests the conversion of any Borrowing of such Class to, or continuation of any Borrowing of such Class as, a EurocurrencyTerm Benchmark Borrowing shall be ineffective, and such Borrowing shall be continued as an ABR Borrowing, and # any Borrowing Request for a EurocurrencyTerm Benchmark Borrowing of such Class shall be treated as a request for an ABR Borrowing; provided, however, that, in each case, the Borrower may revoke any Borrowing Request that is pending when such notice is received.

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