Common use of Conversion upon Absence of Interest Period Clause in Contracts

Conversion upon Absence of Interest Period. If any Borrower (or Mondelēz International on behalf of any other Borrower) shall fail to select the duration of any Interest Period for any Term SOFR Advance in accordance with the provisions contained in the definition of the term “Interest Period” or to give notice of a Conversion or Continuation under Section 2.06(c), the Administrative Agent will forthwith so notify such Borrower and the Lenders and such Advance will automatically, on the last day of the then existing Interest Period therefor, Convert to a Base Rate Advance.

Conversion upon Absence of Interest Period. If any Borrower (or Mondelēz Mondelez International on behalf of any other Borrower) shall fail to select the duration of any Interest Period for any Term SOFR Advance in accordance with the provisions contained in the definition of the term “Interest Period” or to give notice of a Conversion or Continuation under Section 2.06(c), the Administrative Agent will forthwith so notify such Borrower and the Lenders and such Advance will automatically, on the last day of the then existing Interest Period therefor, Convert to a Base Rate Advance.