Common use of Continuations Clause in Contracts

Continuations. The applicable Borrower(s) may from time to time prior to the Stated Maturity Date request the Lenders to renew the Interest Rate Option applicable to existing Loans by delivering to Administrative Agent a Notice of Continuation in the form of Exhibit J hereto (a “Notice of Continuation”) not later than 12 noon (New York time): (i) three (3) Business Days prior to the proposed Continuation with respect to Loans denominated in Dollars to which the Term SOFR or Daily Simple SOFR Option applies; (ii) three (3) Business Days prior to the proposed Continuation with respect to Loans denominated in Alternative Currencies to which the Eurocurrency Rate Option applies; or (iii) three (3) Business Days prior to the proposed Continuation with respect Loans denominated in Alternative Currencies to which the Daily Simple RFR Option applies. The Notice of Continuation shall also specify the length of the Interest Period selected by such Borrower with respect to such Continuation. Each Notice of Continuation shall be irrevocable and effective upon notification thereof to Administrative Agent. If the applicable Borrower fails to timely give Administrative Agent the Notice of Continuation with respect to any Loan, such Borrower shall be deemed to have elected the Base Rate as the Interest Rate Option with respect to such Loan.

Continuations. The applicable Borrower(s) may from time to time prior to the Stated Maturity Date request the Lenders to renew the Interest Rate Option applicable to existing Loans by delivering to Administrative Agent a Notice of Continuation in the form of Exhibit J hereto (a “Notice of Continuation”) not later than 12 noon (New York time): (i) three threeone (331) Business Days DaysDay prior to the proposed Continuation with respect to Loans denominated in Dollars to which the Term SOFR or Daily Simple SOFR SOFRRate Option applies; (ii) [reserved]; (iii) (ii) three (3) Business Days prior to the proposed Continuation with respect to Loans denominated in Alternative Currencies (other than Canadian Dollars) to which the Eurocurrency Rate RateDaily Simple RFR Option applies; or (iv) (iii) three (3) Business Days prior to the proposed Continuation with respect Loans denominated in Alternative Currencies to which the Daily Simple RFR Option appliesappliesCanadian Dollars. The Notice of Continuation shall also specify the length of the Interest Period selected by such Borrower with respect to such Continuation. Each Notice of Continuation shall be irrevocable and effective upon notification thereof to Administrative Agent. If the applicable Borrower fails to timely give Administrative Agent the Notice of Continuation with respect to any Loan, such Borrower shall be deemed to have elected the Base Rate as the Interest Rate Option with respect to such Loan.