Common use of Continuation Elections Clause in Contracts

Continuation Elections. An authorized Person may, upon irrevocable Request to the Lender in accordance with Section 7.1(e) below, elect to continue, as of the last day of the applicable Interest Period, any portion (subject to the Minimum Borrowing Amount limitation) or all of any LIBOR Loan with the same or a different Interest Period, provided no partial continuation of a LIBOR Loan with a different Interest Period shall reduce the outstanding principal amount of the remaining LIBOR Loan with the same Interest Period to less than the Minimum Borrowing Amount.

Appears in 2 contracts

Samples: Credit Facility Agreement (Iec Electronics Corp), Credit Facility Agreement (Iec Electronics Corp)

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Continuation Elections. An authorized Person may, upon irrevocable Request to the Lender in accordance with Section 7.1(e8.1(e) below, elect to continue, as of the last day of the applicable Interest Period, any or a portion (subject to the Minimum Borrowing Amount limitation) or all of any LIBOR Loan with the same or a different Interest Period, provided no partial continuation of a LIBOR Loan with a different Interest Period shall reduce the outstanding principal amount of the remaining LIBOR Loan with the same Interest Period to less than the Minimum Borrowing Amount.

Appears in 1 contract

Samples: Credit Facility Agreement (Iec Electronics Corp)

Continuation Elections. An authorized Person may, upon irrevocable Request to the Lender in accordance with Section 7.1(e3.1(f) below, elect to continue, as of the last day of the applicable Interest Period, any or a portion (subject to the Minimum Borrowing Amount limitation) or all of any LIBOR Loan with the same or a different Interest Period, provided no partial continuation of a LIBOR Loan with a different Interest Period shall reduce the outstanding principal amount of the remaining LIBOR Loan with the same Interest Period to less than the Minimum Borrowing Amount.

Appears in 1 contract

Samples: Credit Facility Agreement (Transcat Inc)

Continuation Elections. An authorized Person may, upon irrevocable Request to the Lender in accordance with Section 7.1(e3.1(e) below, elect to continue, as of the last day of the applicable Interest Period, any portion (subject to the Minimum Borrowing Amount limitation) or all of any LIBOR Loan with the same or a different Interest Period, provided no partial continuation of a LIBOR Loan with a different Interest Period shall reduce the outstanding principal amount of the remaining LIBOR Loan with the same Interest Period to less than the Minimum Borrowing Amount.

Appears in 1 contract

Samples: Credit Facility Agreement (Iec Electronics Corp)

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Continuation Elections. An authorized Person may, upon irrevocable Request to the Lender in accordance with Section 7.1(e10.1(e) below, elect to continue, as of the last day of the applicable Interest Period, any portion (subject to the Minimum Borrowing Amount limitation) or all of any LIBOR Loan with the same or a different Interest Period, provided no partial continuation of a LIBOR Loan with a different Interest Period shall reduce the outstanding principal amount of the remaining LIBOR Loan with the same Interest Period to less than the Minimum Borrowing Amount.

Appears in 1 contract

Samples: Credit Facility Agreement (Iec Electronics Corp)

Continuation Elections. An authorized Person may, upon irrevocable Request to the Lender in accordance with Section 7.1(e9.1(e) below, elect to continue, as of the last day of the applicable Interest Period, any portion (subject to the Minimum Borrowing Amount limitation) or all of any LIBOR Loan with the same or a different Interest Period, provided no partial continuation of a LIBOR Loan with a different Interest Period shall reduce the outstanding principal amount of the remaining LIBOR Loan with the same Interest Period to less than the Minimum Borrowing Amount.

Appears in 1 contract

Samples: Credit Facility Agreement (Iec Electronics Corp)

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