At Expiration of Interest Periods. At least two (2) LIBOR Business Days prior to the termination of any Interest Period, Borrower shall give Bank an Interest Notice indicating the Interest Option to be applicable to the corresponding LIBOR Balance upon the expiration of such Interest Period. If the required Interest Notice shall not have been timely received by Bank prior to the expiration of the then-relevant Interest Period, Borrower shall be deemed to have selected a rate based upon the Adjusted Prime Rate to be applicable to such LIBOR Balance upon the expiration of such Interest Period and to have given Bank notice of such selection.
At Expiration of Interest Periods. Prior to the termination of --------------------------------- each Interest Period with respect to each LIBOR Tranche, Borrower shall give written notice (a "Rollover Notice") to Lender of the Interest Option which --------------- shall be applicable to such portion of the Loan upon the expiration of such Interest Period. Such Rollover Notice shall be given to Lender at least two (2) LIBOR Business Days prior to the termination of such Interest Period if a LIBOR Tranche is requested. Each Rollover Notice shall be irrevocable and effective upon notification thereof to Lender. If the required Rollover Notice shall not have been timely received by Lender (in accordance with the above provisions of this Section 2.6) prior to the expiration of the then relevant Interest Period ----------- in effect when such notice was required to be given, Borrower shall be deemed to have selected the Base Rate to be applicable to such portion of the outstanding balance of the Note upon expiration of such Interest Period and to have given Lender notice of such selection.
At Expiration of Interest Periods. On or before the day of termination of any Interest Period, Borrower shall give Bank an Interest Notice indicating the Interest Option to be applicable to the corresponding LIBOR Balance upon the expiration of such Interest Period. If the required Interest Notice shall not have been timely received by Bank prior to the expiration of the then relevant Interest Period, Borrower shall be deemed to have selected a rate based upon the Adjusted Base Rate to be applicable to such LIBOR Balance upon the expiration of such Interest Period and to have given Bank notice of such selection.
At Expiration of Interest Periods. At least two (2) Business Days prior to the end of any Interest Period, Borrowers shall give Lender an Interest Notice indicating the Interest Option to be applicable to the corresponding LIBOR Balance upon the expiration of such Interest Period. If no such Interest Notice is timely given to Lender, Borrowers shall be deemed to have designated that such LIBOR Balance shall be converted to a Prime Rate Balance upon the expiration of such Interest Period and to have given Lender notice of such designation. Notwithstanding the foregoing, Borrowers shall have no right to designate the Adjusted LIBOR Rate or the Floating LIBOR Rate in any Interest Notice delivered at any time when any Event of Default is in existence.
At Expiration of Interest Periods. Before the termination of each Interest Period for each Eurodollar Loan, Borrower shall give written notice (a "ROLLOVER NOTICE"), in substantially the form of EXHIBIT C-2, to Lender of the Interest Option for that portion of the Loan upon the expiration of that Interest Period. That Rollover Notice must be given to Lender at least (i) one Business Day, in the case of a Base Rate selection, or (ii) three Eurodollar-Business Days, in the case of a LIBOR selection, before the termination of that Interest Period. If Borrower specifies LIBOR, the Rollover Notice must also specify the length of the succeeding Interest Period selected by Borrower. Each Rollover Notice is irrevocable and effective upon notification to Lender. If the required Rollover Notice is not timely received by Lender before the expiration of the then relevant Interest Period in effect when such notice was required to be given, Borrower is deemed to have selected the rate set forth in SECTION 3.2(A) to be applicable to that portion of the Loan upon expiration of that Interest Period and to have given Lender notice of that selection.
At Expiration of Interest Periods. At least two (2) LIBOR Business Days prior to the termination of each Interest Period, Bank shall receive from Borrower an Interest Notice indicating the Interest Option to be applicable to the corresponding LIBOR Balance upon the expiration of such Interest Period. If the required Interest Notice shall not have been timely received by Bank, Borrower shall be deemed to have selected the Stated Rate to be applicable to the LIBOR Balance upon the expiration of the Interest Period and to have given Bank notice of such selection. INTEREST RECAPTURE. If on each Interest Payment Date or any other date on which interest payments are required hereunder, Bank does not receive interest on this Note computed at the Stated Rate or Adjusted LIBOR Rate because such Contract Rate exceeds or has exceeded the Maximum Rate, then Borrower shall, upon the written demand of Bank, pay to Bank in addition to the interest otherwise required to be paid hereunder, on each Interest Payment Date thereafter, the Excess Interest Amount (calculated as of such later Interest Payment Date); provided that in no event shall Borrower be required to pay, for any Interest Period, interest at a rate exceeding the Maximum Rate effective during such period.
At Expiration of Interest Periods. At least three (3) Business Days prior to the termination of any LIBOR Interest Period, Maker shall give Payee an Interest Notice indicating the Interest Option to be applicable to the corresponding LIBOR Balance upon the expiration of such LIBOR Interest Period. If the required Interest Notice shall not have been timely received by Payee prior to the expiration of the then-relevant LIBOR Interest Period, Maker shall be deemed to have selected a rate based upon the Floating Base Rate to be applicable to such LIBOR Balance upon the expiration of such LIBOR Interest Period and to have given Payee notice of such selection.
At Expiration of Interest Periods. Prior to the end of each Interest Period, each Borrower of a Term Loan shall give written notice (a "Notice of Term Loan Rollover") in the form of Exhibit J to Administrative Agent of the Interest Option which shall be applicable to such Term Loan upon the expiration of such Interest Period. Such Term Loan Rollover Notice shall be given to Administrative Agent (1) not later than 11:00 a.m., New York, New York time on a Business Day that is at least two (2) Business Days, in the case of a Base Rate or CD Rate selection or (2) not later than 11:00 a.m., New York, New York time on a Eurocurrency Business Day that is at least three (3) Eurocurrency Business Days, in the case of a Eurodollar Rate selection, prior to the termination of such Interest Period. Such Term Loan Rollover Notice shall also specify the length of the succeeding Interest Period (subject to the provisions of the definition of such term), selected by the relevant Borrower with respect to each Term Loan. Each Notice of Term Loan Rollover shall be irrevocable and effective upon notification thereof to Administrative Agent. If the required Notice of Term Loan Rollover shall not have been timely received by Administrative Agent in accordance with this Section 2.5(c)(ii), each Borrower not providing such timely notice shall be deemed to have converted such Loan into a Base Rate Loan on the last day of the Applicable Interest Period and the Administrative Agent shall promptly notify the relevant Borrower of such conversion.
At Expiration of Interest Periods. Prior to the end of each Interest Period the Borrower in respect of a Term Loan shall give written notice (a "Notice of Term Loan Rollover") to the Agent of the Interest Option which shall be applicable to such Term Loan upon the expiration of such Interest Period. Such Notice of Term Loan Rollover shall be given to the Agent (y) in the case of a LIBOR Rate selection, as provided in Section 2.05(b)(ii)(A), and (z) in the case of a Base Rate selection, by telex notice to be received by the Agent not later than 11:00 A.M. New York time on a Business Day that is at least two (2) Business Days prior to the termination of such Interest Period. Such Term Loan Rollover Notice shall also specify the length of the succeeding Interest Period (subject to the provisions of the definition of such term), selected by the Borrower with respect to each Term Loan. Each Notice of Term Loan Rollover shall be irrevocable and effective upon notification thereof to the Agent. If the required Notice of Term Loan Rollover shall not have been timely received by the Agent in accordance with this paragraph, the Borrower shall be deemed to have converted such Loan into a Base Rate Advance on the last day of the applicable Interest Period and the Agent shall promptly notify the Borrower of such conversion.
At Expiration of Interest Periods. Prior to the termination of each Interest Period, Borrower shall give Bank an Interest Notice specifying the interest option which shall be applicable to such LIBOR Loan upon the expiration of such Interest Period. The Interest Notice shall be given to Bank at least two (2) LIBOR Business Days prior to the termination of such Interest Period. Such Interest Notice shall also specify the length of the succeeding Interest Period (subject to the provisions of the definitions of such terms) selected by Borrower with respect to such LIBOR Loan; provided, however, no Interest Period shall be selected that terminates after the Maturity Date and no Interest Period may be selected that extends beyond a date on which Borrower is required to make a scheduled payment of principal under this Amended and Restated Promissory Note, unless the sum of Prime Rate Loans equals or exceeds the principal amount required to be paid on such date. Each Interest Notice shall be irrevocable and effective upon notification thereof to Bank. Notwithstanding the foregoing, if the Interest Notice is not given by Borrower or if the required Interest Notice is not timely received by Bank. Borrower shall be deemed automatically to have requested that the Bank make a Prime Rate Loan on the last day of the Interest Period applicable to any LIBOR Loan in an amount necessary to pay the principal of the LIBOR Loan maturing on such date.
