Continuations. No later than 11:00 a12:00 p.m. (x) at least three (3) Business Days prior to the termination of each Interest Period related to a LIBOR RateTerm SOFR Loan, the applicable Borrower shall give Administrative Agent a Notice of Continuation in the form of Exhibit J hereto (a “Notice of Continuation”) setting forth whether it desires to renew such LIBOR RateTerm SOFR Loan. 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 LIBOR RateTerm SOFR Loan, such Borrower shall be deemed to have elected the Prime Rate as the Interest Option with respect to such Loan.
Appears in 3 contracts
Samples: Revolving Credit and Security Agreement (Golub Capital BDC 3, Inc.), Revolving Credit and Security Agreement (Golub Capital BDC 3, Inc.), Revolving Credit and Security Agreement (Golub Capital BDC 3, Inc.)
Continuations. No later than 11:00 a12:00 p.m. a.m. (x) at least three (3) Business Days prior to the termination of each Interest Period related to a LIBOR RateTerm SOFR Rate Loan, the applicable Borrower shall give Administrative Agent a Notice of Continuation in the form of Exhibit J hereto (a “Notice of Continuation”) setting forth whether it desires to renew such LIBOR RateTerm SOFR Rate Loan. 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 LIBOR RateTerm SOFR Rate Loan, such Borrower shall be deemed to have elected the Prime Rate as the Interest Option with respect to such Loan.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Golub Capital BDC 3, Inc.)
Continuations. No later than 11:00 a12:00 p.m. (x) a.m. at least three (3) Business Days prior to the termination of each Interest Period related to a LIBOR RateTerm SOFR Rate Loan, the applicable Borrower shall give Administrative Agent a Notice of Continuation in the form of Exhibit J hereto (a “Notice of Continuation”) setting forth whether it desires to renew such LIBOR RateTerm SOFR Rate Loan. 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 LIBOR RateTerm SOFR Rate Loan, such Borrower shall be deemed to have elected the Prime Rate as the Interest Option with respect to such Loan.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Golub Capital BDC 3, Inc.)
