Common use of Conversions and Continuations of Loans Clause in Contracts

Conversions and Continuations of Loans. (a) Each conversion of the Loans from one Type to the other, and each continuation of Eurodollar Rate Loans shall be made upon the Borrower’s irrevocable written notice to the Administrative Agent. Each such notice must be received by the Administrative Agent not later than (i) 1:00 p.m. three Business Days prior to the requested date of any conversion to or continuation of Eurodollar Rate Loans or (ii) 1:00 p.m. one Business Day prior to the requested date of any conversion of Eurodollar Rate Loans to Base Rate Loans; provided, however, that if the Borrower wishes to request Eurodollar Rate Loans having an Interest Period other than one (1), two (2), three (3) or six (6) months in duration as provided in the definition of “Interest Period,” the applicable notice must be received by the Administrative Agent not later than 11:00 a.m. four (4) Business Days prior to the requested date of such conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 11:00 a.m., three (3) Business Days before the requested date of such conversion or continuation of a Eurodollar Rate Loan, the Administrative Agent shall notify the Borrower in writing whether or not the requested Interest Period has been consented to by all the Lenders. Each notice by the Borrower pursuant to this Section 2.02(a) must be made by delivery to the Administrative Agent of a written Committed Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower. Each Borrowing of, conversion to or continuation of Eurodollar Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof. Each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. The initial Borrowing of the Loans shall automatically be deemed made on the Closing Date and shall be in the principal amount of Closing Date Loan Amount. Each Committed Loan Notice shall specify, as applicable, (i) whether the Borrower is requesting a conversion of Loans from one Type to the other, or a continuation of Eurodollar Rate Loans, (ii) the requested date of the conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Loans to be converted or continued, (iv) the Type of Loans to be continued or to which existing applicable Loans are to be converted, and (v) if applicable, the duration of the Interest Period with respect thereto. If the Borrower fails to give a timely notice requesting a conversion or continuation, then the Loans shall be converted to Base Rate Loans. Any such automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurodollar Rate Loans. If the Borrower requests conversion to, or continuation of Eurodollar Rate Loans in any such Committed Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one (1) month.

Conversions and Continuations of Loans. (a) Each Borrowing, each conversion of the Loans from one Type to the other, and each continuation of Eurodollar Rate SOFR Loans or CXXXX Loans shall be made upon the applicable Borrower’s irrevocable written notice to the Administrative Agent, which may be given by (A) telephone or (B) a Loan Notice; provided, that, each telephonic notice by any Borrower pursuant to this Section 2.02(a) must be confirmed promptly by delivery to the Administrative Agent of a written Loan Notice, appropriately completed and signed by a Responsible Officer of such Borrower. Each such notice Loan Notice must be received by the Administrative Agent not later than 11:00 a.m. (i) 1:00 p.m. three (3) Business Days prior to the requested date of any Borrowing or continuation of Daily Simple CXXXX Loans, any Borrowing of, conversion to or continuation of Eurodollar Rate of, SOFR Loans or CXXXX Loans or of any conversion of SOFR Loans to Base Rate Loans, Daily SFOR Loans or Daily Simple CXXXX Loans and (ii) 1:00 p.m. one Business Day prior to on the requested date of any conversion Borrowing of Eurodollar Base Rate Loans to Base Rate or Daily SOFR Loans; provided, however, that if the any Borrower wishes to request Eurodollar Rate SOFR Loans having an Interest Period other than one (1), two (2), three (3) or six (6) months in duration or CXXXX Loans having an Interest Period other than one (1) or three (3) months in duration, in each case, as provided in the definition of “Interest Period,” ”, (x) the applicable notice must be received by the Administrative Agent not later than 11:00 a.m. four (4) Business Days prior to the requested date of such Borrowing, conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not them and (y) not later than 11:00 a.m., three (3) Business Days before the requested date of such Borrowing, conversion or continuation of a Eurodollar Rate Loancontinuation, the Administrative Agent shall notify the applicable Borrower in writing (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the Lenders. Each notice by the Borrower pursuant to this Section 2.02(a) must be made by delivery to the Administrative Agent of a written Committed Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower. Each Borrowing of, conversion to or continuation of Eurodollar Rate SOFR Loans shall be denominated in a principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof. Each Borrowing of or conversion to Base Rate Loans Dollars shall be in a principal amount of $500,000 or a whole multiple of $500,000 in excess thereof. Each Borrowing of, conversion to or continuation of CXXXX Loans or Borrowing or continuation of Daily Simple CXXXX Loans shall be in a principal amount of CAD$500,000 or a whole multiple of CAD$500,000 in excess thereof. Except as provided in Sections 2.03(c) and 2.04(c), each Borrowing of or conversion to Base Rate Loans or Daily SOFR Loans shall be in a principal amount of the Dollar Equivalent of $500,000 or a whole multiple of the Dollar Equivalent of $100,000 in excess thereof. The initial Borrowing of the Loans shall automatically be deemed made on the Closing Date and shall be in the principal amount of Closing Date Loan Amount. Each Committed Loan Notice (whether telephonic or written) shall specify, as applicable, specify (i) whether the applicable Borrower is requesting a Borrowing, a conversion of Loans from one Type to the other, or a continuation of Eurodollar Rate SOFR Loans, CXXXX Loans Daily SOFR Loans or Daily Simple CXXXX Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Loans to be borrowed, converted or continued, (iv) the Type of Loans to be continued borrowed or to which existing applicable Loans are to be converted, and (v) if applicable, the duration of the Interest Period with respect thereto, (vi) the currency of the Loans to be borrowed, and (vii) the applicable Borrower. If the applicable Borrower fails to specify a currency in a Loan Notice requesting a Borrowing, then the Loans so requested shall be made in Dollars. If the applicable Borrower fails to specify a Type of a Loan in a Loan Notice or if such Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Loans shall be made as, or converted to, Daily SOFR Loans; provided, however, that in the case of a failure to Base Rate Loanstimely request a continuation of Loans denominated in Canadian Dollars (or other Alternative Currency, to the extent applicable, and subject to Section 1.09) such Loans shall be continued as SOFR Loans or CXXXX Loans (in the case of Loans denominated in Canadian Dollars) in such respective Alternative Currency with an Interest Period of one (1) month. Any such automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurodollar Rate SOFR Loans. If the applicable Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar Rate SOFR Loans or CXXXX Loans in any such Committed Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one (1) month. Notwithstanding anything to the contrary herein, a Swing Line Loan may not be converted to a SOFR Loan or a CXXXX Loan. Except as provided pursuant to Section 2.02(c), no Loan may be converted into or continued as a Loan denominated in a different currency, but instead must be repaid in the original currency of such Loan and reborrowed in the other currency.

Conversions and Continuations of Loans. (a) Each Borrowing, each conversion of the Loans from one Type to the other, and each continuation of Eurodollar Eurocurrency Rate Loans shall be made upon the Borrower’s irrevocable written notice to the Administrative Agent, which may be given by (A) telephone or (B) a Committed Loan Notice; provided that any telephonic notice must be confirmed promptly by delivery to the Administrative Agent of a Committed Loan Notice. Each such notice must be received by the Administrative Agent not later than 1:00 p.m. (i) 1:00 p.m. (x) three Business Days prior to the requested date of any Revolving Credit Borrowing or Term Loan Borrowing of, conversion to or continuation of Eurodollar Eurocurrency Rate Loans or of any conversion of Eurocurrency Rate Loans to Base Rate Loans or, (y) on any date prior to the termination of the Availability Period with respect to the Term Loans, eight Business Days prior to such requested date of any such Revolving Credit Borrowing or Term Loan Borrowing and (ii) (x) on the requested date of any Revolving Credit Borrowing or Term Loan Borrowing of Base Rate Loans or (iiy) on any date prior to the termination of the Availability Period with respect to the Term Loans, three Business Days prior to such requested date of any such Revolving Credit Borrowing or Term Loan Borrowing; provided however that such notice with respect to the Initial Tranche A Term Loan Funding must be received by the Administrative Agent not later than 1:00 p.m. one Business Day prior to the requested date of any conversion of Eurodollar Rate Loans to Base Rate Loanssuch Term Loan Borrowing; provided, however, provided further that if the Borrower wishes to request Eurodollar Eurocurrency Rate Loans having an Interest Period other than one (1)one, two (2)two, three (3) or six (6) months in duration as provided in the definition of “Interest Period,” the applicable notice must be received by the Administrative Agent not later than 11:00 a.m. 1:00 p.m. four (4) Business Days prior to the requested date of such Borrowing, conversion or continuationcontinuation of Eurocurrency Rate Loans, whereupon the Administrative Agent shall give prompt notice to the Lenders under the applicable Facility of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 11:00 a.m.1:00 p.m., three (3) Business Days before the requested date of such Borrowing, conversion or continuation of a Eurodollar Eurocurrency Rate LoanLoans having an Interest period other than one, two, three or six months in duration as provided in the definition of “Interest Period”, the Administrative Agent shall notify the Borrower in writing (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the such Lenders. Each notice by the Borrower pursuant to this Section 2.02(a) must be made by delivery to the Administrative Agent of a written Committed Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower. Each Revolving Credit Borrowing of, conversion to or continuation of Eurodollar Eurocurrency Rate Loans shall be in a principal amount of $1,000,000 5,000,000 or a whole multiple of $500,000 1,000,000 in excess thereof. Each Except as provided in Sections 2.03(c) and 2.04(c), each Revolving Credit Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. The initial Borrowing of the Loans shall automatically be deemed made on the Closing Date and shall be in the principal amount of Closing Date Loan Amount. Each Committed Loan Notice shall specify, as applicable, specify (i) whether the Borrower is requesting a Revolving Credit Borrowing and/or a Term Loan Borrowing, a conversion of Loans from one Type to the other, or a continuation of Eurodollar Eurocurrency Rate Loans, (ii) the requested date of the Borrowing(s), conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Revolving Credit Loans and/or Term Loans to be borrowed, converted or continued, (iv) the Type of Loans to be continued borrowed or to which existing applicable Loans are to be converted, and (v) if applicable, the duration of the Interest Period with respect thereto. If the Borrower fails to specify a Type of Loan in a Committed Loan Notice or if the Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Loans shall be made as, or converted to to, Base Rate Loans. Any such automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurodollar Eurocurrency Rate Loans. If the Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar Eurocurrency Rate Loans in any such Committed Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one (1) month. Notwithstanding anything to the contrary herein, a Swing Line Loan may not be converted to a Eurocurrency Rate Loan. Notwithstanding the above, all Term Loans shall automatically be converted into Fixed Rate Loans on the Amendment No. 16 Effective Date.

Conversions and Continuations of Loans. (a) Each Borrowing, each conversion of the Loans from one Type to the other, and each continuation of Eurodollar Rate Eurocurrency RateSOFR Loans or CDOR Loans shall be made upon the applicable Borrower’s irrevocable written notice to the Administrative Agent, which may be given by (A) telephone or (B) a Loan Notice; provided, that, each telephonic notice by any Borrower pursuant to this Section 2.02(a) must be confirmed promptly by delivery to the Administrative Agent of a written Loan Notice, appropriately completed and signed by a Responsible Officer of such Borrower. Each such notice Loan Notice must be received by the Administrative Agent not later than 11:00 a.m. (i) 1:00 p.m. three (3) Business Days (and, in the case of Australian Dollars, four (4) Business Days) prior to the requested date of any Borrowing of, conversion to or continuation of, Eurocurrency RateSOFR Loans or CDOR Loans or of Eurodollar any conversion of Eurocurrency RateSOFR Loans to Base Rate Loans or and (ii) 1:00 p.m. one on the requested date of any Borrowing of Base Rate Loans (except for any Borrowing of Base Rate Loans in Canadian Dollars, Euros, Pounds Sterling or other Alternative Currency, which must be received by the Administrative Agent not later than 11:00 a.m. three (3) Business Day Days (and, in the case of Australian Dollars, four (4) Business Days) prior to the requested date of any conversion of Eurodollar Rate Loans to Base Rate Loanssuch Borrowing); provided, however, that if the any Borrower wishes to request Eurodollar Rate Eurocurrency RateSOFR Loans having an Interest Period other than one (1), two (2), three (3) or six (6) months in duration or CDOR Loans having an Interest Period other than one (1) or three (3) months in duration, in each case, as provided in the definition of “Interest Period,” ”, (x) the applicable notice must be received by the Administrative Agent not later than 11:00 a.m. four (4) Business Days prior to the requested date of such Borrowing, conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not them and (y) not later than 11:00 a.m., three (3) Business Days before the requested date of such Borrowing, conversion or continuation of a Eurodollar Rate Loancontinuation, the Administrative Agent shall notify the applicable Borrower in writing (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the Lenders. Each notice by the Borrower pursuant to this Section 2.02(a) must be made by delivery to the Administrative Agent of a written Committed Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower. Each Borrowing of, conversion to or continuation of Eurodollar Rate Eurocurrency RateSOFR Loans denominated in Dollars shall be in a principal amount of $1,000,000 500,000 or a whole multiple of $500,000 in excess thereof. Each Borrowing of, conversion to or continuation of Eurocurrency RateCDOR Loans denominated in Canadian Dollars shall be in a principal amount of CAD$500,000 or a whole multiple of CAD$500,000 in excess thereof. Each Borrowing of, conversion to or continuation of Eurocurrency Rate Loans denominated in Euros shall be in a principal amount of Euro$500,000 or a whole multiple of Euro$500,000 in excess thereof. Each Borrowing of, conversion to or continuation of Eurocurrency Rate Loans denominated in Pounds Sterling shall be in a principal amount of £500,000 or a whole multiple of £500,000 in excess thereof. Each Borrowing of, conversion to or continuation of Eurocurrency Rate Loans denominated in Australian Dollars shall be in a principal amount of AU$500,000 or a whole multiple of AU$500,000 in excess thereof. Except as provided in Sections 2.03(c) and 2.04(c), each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of the Dollar Equivalent of $500,000 or a whole multiple of the Dollar Equivalent of $100,000 in excess thereof. The initial Borrowing of the Loans shall automatically be deemed made on the Closing Date and shall be in the principal amount of Closing Date Loan Amount. Each Committed Loan Notice (whether telephonic or written) shall specify, as applicable, specify (i) whether the applicable Borrower is requesting a Borrowing, a conversion of Loans from one Type to the other, or a continuation of Eurodollar Rate Eurocurrency RateSOFR Loans or CDOR Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Loans to be borrowed, converted or continued, (iv) the Type of Loans to be continued borrowed or to which existing applicable Loans are to be converted, and (v) if applicable, the duration of the Interest Period with respect thereto, (vi) the currency of the Loans to be borrowed, and (vii) the applicable Borrower. If the applicable Borrower fails to specify a currency in a Loan Notice requesting a Borrowing, then the Loans so requested shall be made in Dollars. If the applicable Borrower fails to specify a Type of a Loan in a Loan Notice or if such Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Loans shall be made as, or converted to to, Base Rate Loans; provided, however, that in the case of a failure to timely request a continuation of Loans denominated in Canadian Dollars, Euros, Pounds Sterling, Australian Dollars (or other Alternative Currency, to the extent applicable, and subject to Section 1.09) such Loans shall be continued as Eurocurrency Rate Loans SOFR Loans or CDOR Loans (in the case of Loans denominated in Canadian Dollars) in such respective Alternative Currency with an Interest Period of one (1) month. Any such automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurodollar Rate Eurocurrency RateSOFR Loans. If the applicable Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar Rate Eurocurrency RateSOFR Loans or CDOR Loans in any such Committed Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one (1) month. Notwithstanding anything to the contrary herein, a Swing Line Loan may not be converted to a Eurocurrency RateSOFR Loan or a CDOR Loan. Except as provided pursuant to Section 2.02(c), no Loan may be converted into or continued as a Loan denominated in a different currency, but instead must be repaid in the original currency of such Loan and reborrowed in the other currency.

Conversions and Continuations of Loans. (a) Each conversion of the Loans from one Type to the other, and each continuation of Eurodollar Rate Eurocurrency Loans shall be made upon the Borrower’s irrevocable written notice to the Administrative Agent, which may be given by: (A) telephone or (B) a Loan Notice; provided that any telephonic notice must Posting Version 12/7/17 be confirmed immediately by delivery to the Administrative Agent of a Loan Notice. Each such notice must be received by the Administrative Agent not later than (i) 1:00 p.m. three Business Days prior to the requested date of any conversion to or continuation of Eurodollar Rate Eurocurrency Loans or (ii) 1:00 p.m. one Business Day prior to the requested date of any conversion of Eurodollar Rate Eurocurrency Loans to Base Rate Loans; provided, however, that if the Borrower wishes to request Eurodollar Rate Eurocurrency Loans having an Interest Period other than one (1)one, two (2)two, three (3) or six (6) months in duration as provided in the definition of “Interest Period,” ”, the applicable notice must be received by the Administrative Agent not later than 11:00 a.m. 1:00 p.m. four (4) Business Days prior to the requested date of such conversion or continuationcontinuation of Eurocurrency Loans, whereupon the Administrative Agent shall give prompt notice to the Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 11:00 a.m., 1:00 p.m. three (3) Business Days before the requested date of such conversion or continuation of a Eurodollar Rate LoanEurocurrency Loans denominated in Dollars, the Administrative Agent shall notify the Borrower in writing (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the Lenders. Each notice by the Borrower pursuant to this Section 2.02(a) must be made by delivery to the Administrative Agent of a written Committed Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower. Each Borrowing of, conversion to or continuation of Eurodollar Eurocurrency Loans and each conversion to Base Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof. Each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. The initial Borrowing of the Loans shall automatically be deemed made on the Closing Date and shall be in the principal amount of Closing Date Loan Amount. Each Committed Loan Notice (whether telephonic or written) shall specify, as applicable, specify (i) whether the Borrower is requesting a conversion of Loans from one Type to the other, or a continuation of Eurodollar Rate Eurocurrency Loans, (ii) the requested date of the conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Loans to be converted or continued, (iv) the Type of Loans to be continued or to which existing applicable Loans are to be converted, converted and (v) if applicable, the duration of the Interest Period with respect thereto. If the Borrower fails to specify a Type of Loan in a Loan Notice or if the Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Loans shall be made or continued as, converted to Base Rate Loansto, Eurocurrency Loans with an Interest Period of one month. Any such automatic conversion to Base Rate to, or automatic continuation as, Eurocurrency Loans with an Interest Period of one month shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurodollar Rate Eurocurrency Loans. If the Borrower requests a conversion to, or continuation of Eurodollar Rate Eurocurrency Loans in any such Committed Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one (1) month.

Conversions and Continuations of Loans. (a) The Borrower may elect (i) at any time on any Business Day, to convert Base Rate Loans (other than Swing Loans) or any portion thereof to SOFR Rate Loans denominated in Dollars and (ii) at the end of any applicable Interest Period, to convert SOFR Rate Loans or any portion thereof to Base Rate Loans, or (iii) or to continue SOFR Rate Loans or any portion thereof for an additional Interest Period. Each conversion to or continuation of SOFR Rate Loans shall, in each case, be in an aggregate amount of not less than $1,000,000 or an integral multiple of $500,000 in excess thereof. Each conversion of the Loans from one Type to the other, and each continuation of Eurodollar SOFR Rate Loans shall be made upon the Borrower’s irrevocable written notice to the Administrative Agent, which may be given by (A) telephone or (B) an Interest Election Request; provided that any telephonic notice must be confirmed promptly by delivery to the Administrative Agent of an Interest Election Request. Each such notice Interest Election Request must be received by the Administrative Agent not later than 11:00 a.m. three (i3) 1:00 p.m. three Business Days prior to the requested date of any the proposed conversion or continuation, in the case of (i) a conversion to or continuation of Eurodollar SOFR Rate Loans Loans, or (ii) 1:00 p.m. one Business Day prior to the requested date of any a conversion of Eurodollar SOFR Rate Loans to Base Rate Loans; provided, however, that if the Borrower wishes to request Eurodollar a conversion to or continuation of SOFR Rate Loans having an Interest Period other than one (1), two (2)one, three (3) or six (6) months in duration as provided in the definition of “Interest Period,” the applicable notice Interest Election Request must be received by the Administrative Agent not later than 11:00 a.m. four (4) Business Days prior to the requested date of such the proposed conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 11:00 a.m., three (3) Business Days before prior to the requested date of such conversion or continuation of a Eurodollar SOFR Rate LoanLoans, the Administrative Agent shall notify the Borrower in writing (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all Lenders and the LendersAdministrative Agent. Each notice by the Borrower pursuant to this Section 2.02(a) must be made by delivery to the Administrative Agent of a written Committed Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower. Each Borrowing of, conversion to or continuation of Eurodollar Rate Loans Interest Election Request shall be in a principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof. Each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. The initial Borrowing of the Loans shall automatically be deemed made on the Closing Date and shall be in the principal amount of Closing Date Loan Amount. Each Committed Loan Notice shall specify, as applicable, specify (iA) whether the Borrower is requesting a conversion of Loans from one Type to the other, or a continuation of Eurodollar SOFR Rate Loans, (iiB) the requested date of the conversion such proposed continuation or continuationconversion, as the case may be (which shall be a Business Day), (iiiC) the principal aggregate amount of Loans to be converted or continued, (iv) the Type of Loans to be continued or to which existing applicable Loans are to be converted, converted and (vD) if applicablein the case of a conversion to or a continuation of SOFR Rate Loans, the duration of the requested Interest Period. The Administrative Agent shall promptly notify each Appropriate Lender of its receipt of an Interest Election Request and of the options selected therein. Each conversion or continuation shall be allocated ratably among the Revolving Loans (without regard to any separate Class or Classes of Loans or Commitments of any Lender) of each applicable Lender. If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive an Interest Election Request from the Borrower containing a permitted election to continue any SOFR Rate Loans for an additional Interest Period with respect thereto. If or to convert any such Loans, then, upon the Borrower fails to give a timely notice requesting a conversion or continuationexpiration of the applicable Interest Period, then the such Loans shall be automatically converted to Base Rate Loans. Any such automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurodollar Rate Loans. If the Borrower requests conversion to, or continuation of Eurodollar Rate Loans in any such Committed Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one (1) month.