Common use of Conversion to SOFR Clause in Contracts

Conversion to SOFR. After the Effective Date and following delivery of a Loan Notice, each conversion of Loans from one Type to another, or a continuation of Loans, shall be a request for a new Loan bearing interest at the Term SOFR Rate or Daily SOFR Rate, as requested by Borrower; provided, that, in any case, to the extent any Eurodollar Rate Loan (as defined in the Loan Agreement immediately prior to the effectiveness of this Amendment) is outstanding on the Effective Date, such Loan shall continue to bear interest at the Eurodollar Rate (as defined in the Loan Agreement immediately prior to the effectiveness of this Amendment) until the end of the current Interest Period applicable to such Loan. If the Borrower fails to give a timely notice requesting a conversion or continuation of any such Eurodollar Rate Loan, then the applicable Loan shall be made as, or converted to, a Daily SOFR Rate Loan at the end of the current Interest Period applicable to such Loan.

Conversion to SOFR. After the Effective Date and following delivery of a Loan Notice, each conversion of Loans from one Type to another, or a continuation of Loans, shall be a request for a new Loan bearing interest at the Term SOFR Rate or Daily SOFR RateSOFR, as requested by Borrower; provided, that, in any case, to the extent any Eurodollar Rate Loan (as defined in the Loan Credit Agreement immediately prior to the effectiveness of this Amendment) is outstanding on the Effective Date, such Loan shall continue to bear interest at the Eurodollar Rate (as defined in the Loan Credit Agreement immediately prior to the effectiveness of this Amendment) until the end of the current Interest Period applicable to such Loan. If the Borrower fails to give a timely notice requesting a conversion or continuation of any such Eurodollar Rate Loan, then the Exhibit 10.37 4862-8611-2318 v.3 applicable Loan shall be made as, or converted to, a Daily SOFR Rate Loan at the end of the current Interest Period applicable to such Loan.

Conversion to SOFR. After the Effective Date and following delivery of a Committed Loan Notice, each conversion of Loans from one Type to another, or a continuation of Loans, shall be a request for a new Loan bearing interest at the Term SOFR Rate or Daily SOFR Rate, as requested by the applicable Borrower; provided, that, in any case, to the extent any Eurodollar Rate Loan (as defined in the Loan Credit Agreement immediately prior to the effectiveness of this Amendment) is outstanding on the Effective Date, such Loan shall continue to bear interest at the Eurodollar Rate (as defined in the Loan Credit Agreement immediately prior to the effectiveness of this Amendment) until the end of the current Interest Period applicable to such Loan. If the Borrower fails to give a timely notice requesting a conversion or continuation of any such Eurodollar Rate Loan, then the applicable Loan shall be made as, or converted to, a Daily SOFR Rate Loan at the end of the current Interest Period applicable to such Loan.

Conversion to SOFR. After the Effective Date and following delivery of a Loan Notice, each conversion of Loans from one Type to another, or a continuation of Loans, shall be a request for a new Loan bearing interest at the Term SOFR Rate or Daily SOFR Rate, as requested by Borrowerthe Company; provided, that, in any case, to the extent any Eurodollar Eurocurrency Rate Loan (as defined in the Loan Credit Agreement immediately prior to the effectiveness of this Amendment) is outstanding on the Effective Date, such Loan shall continue to bear interest at the Eurodollar Eurocurrency Rate (as defined in the Loan Credit Agreement immediately prior to the effectiveness of this Amendment) until the end of the current Interest Period applicable to such Loan. If the Borrower Company fails to give a timely notice requesting a conversion or continuation of any such Eurodollar Eurocurrency Rate Loan, then the applicable Loan shall be made as, or converted to, a Daily SOFR Rate Loan at the end of the current Interest Period applicable to such Loan.