Choice of Interest Rate. Any Revolving Loan shall, at the option of Borrower, be made either as a Base Rate Loan or as a LIBOR Loan; provided, that if a Default or Event of Default has occurred and is continuing, all Loans shall be made as Base Rate Loans. If Borrower fails to give notice to Agent specifying whether any LIBOR Loan is to be repaid or reborrowed on a Payment Date, such LIBOR Loan shall be repaid and then reborrowed as a Base Rate Loan on the Payment Date. Each request for a Revolving Loan shall, among other things, specify (1) the date of the proposed Revolving Loan, which shall be a Business Day, (2) the amount of the Revolving Loan, (3) whether it is to be a Base Rate Loan or a LIBOR Loan, and (4) the LIBOR Loan Period, if applicable.
Choice of Interest Rate. Each Advance shall, at the option of the Borrowers, be made as a Prime Rate Advance or a LIBOR Advance. Any notice given to the Lenders in connection with a requested Advance hereunder shall be given prior to 12:00 noon in order for such Business Day to count toward the minimum number of Business Days required. If the Borrowers fail to give the Lender timely notice of their selection of a LIBOR Advance, or if for any reason a determination of LIBOR for any advance is not timely concluded, the Prime Rate shall apply to such Advance.
Choice of Interest Rate. Any Advance under the Commitment shall, at the option of the Borrower, be made as a Base Rate Advance or a Eurodollar Advance; provided, however, that at such time as there shall have occurred and be continuing a Default hereunder, the Borrower shall not have the right to borrow or to re-borrow any Eurodollar Advances, and all subsequent Advances shall be made as Base Rate Advances. Any notice given to the Administrative Agent in connection with a requested Advance hereunder shall be given to the Administrative Agent prior to 11:00 a.m. (Houston time) in order for such Business Day to count toward the minimum number of Business Days required.
Choice of Interest Rate. Any Revolving Loan shall, at the option of Borrower, be made either as a Base Rate Loan or as a LIBOR Loan; provided that if a Default or Event of Default has occurred and is continuing, all Loans shall be made as Base Rate Loans. If Borrower fails to give notice to Agent specifying whether any LIBOR Loan is to be repaid, continued as a LIBOR Loan or converted to a Base Rate Loan on the last day of the applicable LIBOR Loan Period, such LIBOR Loan shall be continued as a LIBOR Loan on the last day of such LIBOR Loan Period for a LIBOR Loan Period of equal duration, unless a Default or Event of Default has occurred and is continuing in which case such LIBOR Loan shall be converted to a Base Rate Loan. Each request for a Revolving Loan shall, among other things, specify (a) the date of the proposed Revolving Loan, which shall be a Business Day, (b) the amount of the Revolving Loan, (c) whether it is to be a Base Rate Loan or a LIBOR Loan, and (d) the LIBOR Loan Period, if applicable.
Choice of Interest Rate. Any Advance shall, at the option of the Administrative Borrower, be made either as a Base Rate Advance or as a Eurodollar Advance (except for the first three (3) Business Days after the Agreement Date, during which period the Loans shall bear interest as a Base Rate Advance); provided that (i) if the Administrative Borrower fails to give the Administrative Agent written notice specifying whether a Eurodollar Advance is to be repaid, continued or converted on a Payment Date, such Advance shall be converted to a Base Rate Advance on the Payment Date in accordance with Section 2.3(a)(iii), (ii) the Administrative Borrower may not select a Eurodollar Advance (A) with respect to Swing Loans, (B) with respect to an Advance, the proceeds of which are to reimburse the Issuing Bank pursuant to Section 2.15, or (C) if, at the time of such Advance or at the time of the continuation of, or conversion to, a Eurodollar Advance pursuant to Section 2.2(c), a Default exists, and (iii) all Agent Advances and Overadvances shall be made as Base Rate Advances. Any notice given to the Administrative Agent in connection with a requested Advance hereunder shall be given to the Administrative Agent prior to (i) 1:00 p.m. (Atlanta, Georgia time) with respect to Base Rate Advances and Eurodollar Advances and (ii) 2:00 p.m. (Atlanta, Georgia time) with respect to Swing Loans in order for such Business Day to count toward the minimum number of Business Days required.
Choice of Interest Rate. Any Advance shall, at the option of the Borrower, be made either as a Base Rate Advance or as a Eurodollar Advance (except for the first two (2) Business Days after the Agreement Date, during which period the Loans shall bear interest as a Base Rate Advance); provided, however, that (i) if the Borrower fails to give the Agent written notice specifying whether an Advance is to be repaid or reborrowed on a Payment Date, such Advance shall be repaid and then reborrowed as a Base Rate Advance on the Payment Date, and (ii) the Borrower may not select a Eurodollar Advance (A) with respect to Swing Loans, (B) with respect to an Advance, the proceeds of which are to reimburse an Issuing Bank pursuant to Section 2.15 hereof, or (C) if, at the time of such Advance, a Default or an Event of Default has occurred and is continuing. Any notice given to the Agent in connection with a requested Advance hereunder shall be given to the Agent prior to 1:00 p.m. (Atlanta, Georgia time) in order for such Business Day to count toward the minimum number of Business Days required.
Choice of Interest Rate etc. Any Advance shall, at the option of Borrower, be made either as a Base Rate Advance or as a Eurodollar Advance or a Daily Eurodollar Advance; provided, however, that (i) if Borrower fails to give the Agent notice in writing or by electronic transmission through systems established by the Agent specifying whether an Advance is to be repaid or reborrowed on a Payment Date, such Advance shall be repaid and then reborrowed as a Base Rate Advance on the Payment Date, and (ii) Borrower may not select a Eurodollar Advance or a Daily Eurodollar Advance (A) with respect to an Advance, the proceeds of which are to reimburse the Agent pursuant to ss.2.2 hereof, or (B) if, at the time of such Advance, a Default or Event of Default has occurred and is continuing. Any notice given to the Agent in connection with a requested Advance hereunder shall be given to the Agent prior to 11:00 a.m. (Boston time) in order for such Business Day to count toward the minimum number of Business Days required. The Agent shall, upon reasonable request of Borrower from time to time, provide to Borrower such information with regard to the Eurodollar Rate as may be so requested.
Choice of Interest Rate. Each Advance shall, at the option of the Borrower, be made as a Prime Rate Advance or a Eurodollar Rate Advance. Eurodollar Rate Advances shall in all cases be subject to SECTION 4.1(C) hereof. Any notice given to the Agent in connection with a requested Advance hereunder shall be given prior to 12:00 noon (Atlanta time) in order for such Business Day to count toward the minimum number of Business Days required. If the Borrower fails to give the Agent timely notice of its selection of a Eurodollar Rate Basis, or if for any reason a determination of a Eurodollar Rate Basis for any Advance is not timely concluded, the Prime Rate Basis shall apply to such Advance.
Choice of Interest Rate. Any Revolving Loan shall, at the option of Borrower, be made either as a Base Rate Loan or as a SOFR Loan; provided that if a Default or Event of Default has occurred and is continuing, all Loans shall be made as Base Rate Loans. If Xxxxxxxx fails to give notice to Administrative Agent specifying whether any SOFR Loan is to -59- Xxxxxx Lease Finance Corporation Fourth Amended and Restated Credit Agreement be repaid or reborrowed on a Payment Date, such SOFR Loan shall be repaid and then reborrowed as a Base Rate Loan on the Payment Date. Each request for a Revolving Loan shall, among other things, specify (1) the date of the proposed Revolving Loan, which shall be a Business Day, (2) the amount of the Revolving Loan, (3) whether it is to be a Base Rate Loan or a SOFR Loan, and (4) the Interest Period, if applicable.
Choice of Interest Rate. Any Advance shall, at the option of the Borrower and pursuant to the terms and conditions of this Agreement, be made either as a Base Rate Advance or a Eurodollar Advance.
