Common use of Choice of Interest Rate, Etc Clause in Contracts

Choice of Interest Rate, Etc. Any Advance shall, at the option of the Borrowers, 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 Borrowers fail to give the Administrative Agent written notice specifying whether a Eurodollar Advance is to be repaid, continued or converted on a Payment Date, such Eurodollar Advance shall be converted to a Base Rate Advance on the Payment Date, and (ii) the Borrowers may not select a Eurodollar Advance (A) with respect to an Advance, the proceeds of which are to reimburse an Issuing Bank pursuant to Section 2.16 hereof, or (B) if, at the time of such Advance, a Default or an Event of Default has occurred and is continuing. 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. (Eastern time) in order for such Business Day to count toward the minimum number of Business Days required.

Choice of Interest Rate, Etc. Any Advance of the Revolving Loans shall, at the option of the BorrowersBorrower, 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 each Advance shall bear interest as a Base Rate Advance); provided, however, that (i) if the Borrowers fail 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 Eurodollar Advance shall be converted to a Base Rate Advance on the Payment Date, and (ii) the Borrowers Borrower may not select a Eurodollar Advance (A) with respect to an Advance, the proceeds of which are to reimburse an the Issuing Bank pursuant to Section 2.16 hereof2.14, or (B) if, at the time of such Advance, a Default or an Event of Default has occurred and is continuing. 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. (Eastern 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 the Borrowers, 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 Borrowers fail to give the Administrative Agent written notice specifying whether a Eurodollar Advance is to be repaid, continued or converted on a Payment Date, such Eurodollar Advance shall be converted to a Base Rate Advance on the Payment Date, and (ii) the Borrowers 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 2.16 hereof, or (BC) if, at the time of such Advance, a Default or an Event of Default has occurred and is continuing. 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. (Eastern time) in order for such Business Day to count toward the minimum number of Business Days required.

Choice of Interest Rate, Etc. Any Advance of the Revolving Loans shall, at the option of the BorrowersBorrower, 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 each Advance shall bear interest as a Base Rate Advance); provided, however, that (i) if the Borrowers fail 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 Eurodollar Advance shall be converted to a Base Rate Advance on the Payment Date, and (ii) the Borrowers Borrower may not select a Eurodollar Advance (A) with respect to an Advance, the proceeds of which are to reimburse an Issuing Bank pursuant to Section 2.16 hereof2.15, or (B) if, at the time of such Advance, a Default or an Event of Default has occurred and is continuing. 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. (Eastern 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 under the Revolving Loan Commitment or of the Term Loans shall, at the option of either of the Borrowers, 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), or, subject to Article 10, a Eurodollar Advance; provided, however, that (i) if the Borrowers fail a 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 Eurodollar Advance shall be converted to a Base Rate Advance on the such Payment Date, and (ii) the Borrowers a Borrower may not select a Eurodollar Advance (A) with respect to an Advance, the proceeds of which are to reimburse an Issuing Bank pursuant to Section 2.16 hereof, or (B) if, at the time of such Advanceselection, a Default or an Event of Default has occurred and is continuing, and (iii) in the event that for any reason Eurodollar Advances are not available, 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 11:30 a.m. (Eastern Houston time) in order for such Business Day to count toward the minimum number of Business Days required.