Common use of Election of LIBOR Pricing Options Clause in Contracts

Election of LIBOR Pricing Options. Subject to all of the terms and conditions hereof and so long as no Default exists, the Company may from time to time, by irrevocable notice to the Agent actually received not less than three Banking Days prior to the commencement of the LIBOR Interest Period selected in such notice, elect to have such portion of the Revolving Loan as the Company may specify in such notice accrue and bear interest during the LIBOR Interest Period so selected at the Applicable Rate computed on the basis of the LIBOR Rate. No such election shall become effective:

Election of LIBOR Pricing Options. Subject to all of the terms and conditions hereof and so long as no Default exists, the Company Borrower may from time to time, by irrevocable notice to the Agent actually received not less than three Banking Days prior to the commencement of the LIBOR Interest Period selected in such notice, elect to have such portion of the Revolving Loan as the Company Borrower may specify in such notice accrue and bear interest during the LIBOR Interest Period so selected at the Applicable Rate computed on the basis of the LIBOR Rate. No such election shall become effective:

Election of LIBOR Pricing Options. Subject to all of the ---------------------------------- terms and conditions hereof and so long as no Default exists, the Company Borrower may from time to time, by irrevocable notice to the Agent actually received not less than three Banking Days prior to the commencement of the LIBOR Interest Period selected in such notice, elect to have such portion of the Revolving Loan as the Company Borrower may specify in such notice accrue and bear interest during the LIBOR Interest Period so selected at the Applicable Rate computed on the basis of the LIBOR Rate. No such election shall become effective: