Common use of Continuance of LIBOR Loan Clause in Contracts

Continuance of LIBOR Loan. The Borrowers may elect to continue any LIBOR Loan as such upon the expiration of the then current Interest Period with respect thereto by delivering to the Agent an irrevocable notice (or by providing telephonic notice thereof, promptly confirmed in writing) of such election, at least two (2) LIBOR Business Days prior to the expiration of the then current Interest Period with respect thereto. Such notice shall also specify the desired Interest Period for the Loan so continued. No continuance shall be permitted under this Section 2.08(b) at any time during which an Event of Default has occurred and is continuing. In no event shall the Borrower be permitted to continue any LIBOR Loan if such continuance would result in an Interest Period with respect to such Loan expiring after the Revolving Credit Maturity Date. The Agent shall give each Lender notice as promptly as practicable of any such proposed continuance affecting any of its Loans.

Continuance of LIBOR Loan. The Borrowers Borrower may elect to continue any LIBOR Loan as such upon the expiration of the then current Interest Period with respect thereto by delivering to the Agent an irrevocable notice (or by providing telephonic telephone notice thereof, promptly confirmed in writing) of such election, at least two (2) LIBOR Business Days prior to the expiration of the then current Interest Period with respect thereto. Such notice shall also specify the desired Interest Period for the Loan so continued. No continuance shall be permitted under this Section 2.08(b) at any time during which an Event of Default has occurred and is continuing. In no event shall the Borrower be permitted to continue any LIBOR Loan if such continuance would result in an Interest Period with respect to such Loan expiring after the Revolving Credit Maturity Date, in the case of a continuance of a Revolving Credit Loan or after the Term Loan Maturity Date in the case of a continuance of the Term Loans. The Agent shall give each Lender notice as promptly as practicable of any such proposed continuance affecting any of its Loans.

Continuance of LIBOR Loan. The Borrowers Borrower may elect to continue any LIBOR Loan as such upon the expiration of the then current Interest Period with respect thereto by delivering to the Agent an irrevocable notice (or by providing telephonic telephone notice thereof, promptly confirmed in writing) of such election, at least two (2) LIBOR Business Days prior to the expiration of the then current Interest Period with respect thereto. Such notice shall also specify the desired Interest Period for the Loan so continued. No continuance shall be permitted under this Section 2.08(b2.06(b), (i) at any time during which an Event of Default has occurred and is continuing. In no event shall continuing or (ii) if the Borrower be permitted to continue any LIBOR Loan if effective date (i.e., the value date) of such continuance would result in an Interest Period with respect were to such Loan expiring occur after a date that is one (1) month prior to the Revolving Credit Maturity Expiration Date. The Agent shall give each Lender notice as promptly as practicable of any such proposed continuance affecting any of its Revolving Credit Loans.