Common use of Continuation of LIBOR Advances Clause in Contracts

Continuation of LIBOR Advances. Each Borrower may from time to time, by delivering a Borrowing Notice, elect to continue a Libor Advance for an additional Interest Period beginning on the last day of the then current Interest Period applicable to such Libor Advance. Each such election shall be made on at least three Business Days’ prior written notice given not later than 9:00 a.m. (Vancouver time) by such Borrower to the Administration Agent. Each Borrowing Notice delivered pursuant to this Section shall specify the duration of the additional Interest Period and the date on which such Interest Period is to begin.

Continuation of LIBOR Advances. Each Borrower may from time to time, by delivering a Borrowing Notice, elect to continue a Libor Advance for an additional Interest Period beginning on the last day of the then current Interest Period applicable to such Libor Advance. Each such election shall be made on at least three Business Days’ ' prior written notice given not later than 9:00 a.m. (Vancouver time) by such Borrower to the Administration Agent. Each Borrowing Notice delivered pursuant to this Section shall specify the duration of the additional Interest Period and the date on which such Interest Period is to begin.