Delayed Draw Term Loan Requests; Conversions and Renewals. Except as otherwise provided herein, the Borrowing Agent may from time to time during the Delayed Draw Term Availability Period request the Lenders to make Delayed Draw Term Loans, or renew or convert the Interest Rate Option applicable to existing Delayed Draw Term Loans pursuant to Section 4.2, by delivering to the Administrative Agent, not later than 10:00 a.m. Eastern Time, (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Delayed Draw Term Loans to which the Term SOFR Rate Option applies or the conversion to or the renewal of the Term SOFR Rate Option for any Delayed Draw Term Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of a Delayed Draw Term Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Delayed Draw Term Loan, of a Loan Request therefor, it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify the aggregate amount of the proposed Loans comprising each Borrowing Tranche, and, if applicable, the Interest Period, which amounts shall be (x) $500,000 or a whole multiple of $100,000 in excess thereof for each Borrowing Tranche under the Term SOFR Rate Option and (y) $500,000 or a whole multiple of $100,000 in excess thereof for each Borrowing Tranche under the Base Rate Option.
