Common use of Elections by the Borrower Clause in Contracts

Elections by the Borrower. The Loans comprising each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar Borrowing, shall have the Interest Period specified in such Borrowing Request. Thereafter, the Borrower may elect to convert such Borrowing to a Borrowing of a different Type or to continue such Borrowing as a Borrowing of the same Type and, in the case of a Eurodollar Borrowing, may elect the Interest Period therefor, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing.

Appears in 11 contracts

Samples: Credit Agreement (Frontier Communications Corp), Credit Agreement (Frontier Communications Corp), Credit Agreement (Frontier Communications Corp)

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Elections by the Borrower. The Loans comprising constituting each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar Borrowing, shall have the Interest Period specified in such Borrowing Request. Thereafter, the Borrower may elect to convert such Borrowing to a Borrowing of a different Type or to continue such Borrowing as a Borrowing of the same Type and, in the case of a Eurodollar Borrowing, may elect the Interest Period therefor, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising constituting such Borrowing, and the Loans comprising constituting each such portion shall be considered a separate Borrowing.

Appears in 10 contracts

Samples: Credit Agreement (Oak Ridger LLC), Credit Agreement (Morris Publishing Group LLC), Credit Agreement (Morris Publishing Group LLC)

Elections by the Borrower. The Loans comprising constituting each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar Borrowing, shall have the an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to convert such Borrowing to a Borrowing of a different Type or to continue such Borrowing as a Borrowing of the same Type and, in the case of a Eurodollar Borrowing, may elect the Interest Period thereforPeriods, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising of the respective Class constituting such Borrowing, and the Loans comprising of such Class constituting each such portion shall be considered a separate Borrowing.

Appears in 3 contracts

Samples: Credit Agreement (Cars.com Inc.), Credit Agreement (Eventbrite, Inc.), Credit Agreement (Cars.com Inc.)

Elections by the Borrower. The Loans comprising each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar LIBOR Borrowing, shall have the Interest Period specified in such Borrowing Request. Thereafter, the Borrower may elect to convert such Borrowing to a Borrowing of a different Type or to continue such Borrowing as a Borrowing of the same Type and, in the case of a Eurodollar LIBOR Borrowing, may elect the Interest Period therefor, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising constituting such Borrowing, and the Loans comprising constituting each such portion shall be considered a separate Borrowing.

Appears in 3 contracts

Samples: Credit Agreement (International Paper Co /New/), Credit Agreement (International Paper Co /New/), Loan Agreement (International Paper Co /New/)

Elections by the Borrower. The Loans comprising constituting each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar Borrowing, shall have the an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to convert such Borrowing to a Borrowing of a different Type or to continue such Borrowing as a Borrowing of the same Type and, in the case of a Eurodollar Borrowing, may elect the Interest Period thereforPeriods, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising of the respective Class constituting such Borrowing, and the Loans comprising of such Class constituting each such portion shall be considered a separate Borrowing. This Section shall not apply to Swingline Borrowings, which may not be converted or continued and which shall accrue interest based only at the Alternate Base Rate.

Appears in 3 contracts

Samples: Credit Agreement (HMS Holdings Corp), Security Agreement (HMS Holdings Corp), Credit Agreement (HMS Holdings Corp)

Elections by the Borrower. The Loans comprising each Each Borrowing initially shall be of the Type specified in the applicable Borrowing Request Request, and, in the case of a Eurodollar Borrowing, shall have the an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to convert such Borrowing to a Borrowing of Loans of any Class to a different Type of Loans of such Class or to continue such Borrowing as a Borrowing of the same Type and, in the case of a Eurodollar Borrowing, may elect the Interest Period Periods therefor, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing. This Section shall not apply to Swingline Loans, which may not be converted or continued as Eurodollar Loans.

Appears in 3 contracts

Samples: Second Amendment Agreement (Alaska Communications Systems Group Inc), Credit Agreement (Alaska Communications Systems Group Inc), Credit Agreement (Alaska Communications Systems Group Inc)

Elections by the Borrower. The Loans comprising each Each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar Rate Borrowing, shall have the Interest Period specified in such Borrowing Request. Thereafter, the Borrower may elect to convert such Borrowing to a Borrowing of a different Type or to continue such Borrowing as a Borrowing of the same Type and, in the case of a Eurodollar Rate Borrowing, may elect the Interest Period therefor, all as provided in this SectionSection 2.06. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising constituting such Borrowing, and the Loans comprising constituting each such portion shall be considered a separate Borrowing.

Appears in 2 contracts

Samples: Credit Agreement (International Paper Co /New/), Assignment and Assumption (International Paper Co /New/)

Elections by the Borrower. The Loans comprising constituting each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar EurodollarTerm Benchmark Borrowing, shall have the an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to convert such Borrowing to a Borrowing of a different Type or to continue such Borrowing as a Borrowing of the same Type and, in the case of a Eurodollar EurodollarTerm Benchmark Borrowing, may elect the Interest Period thereforPeriods, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising of the respective Class constituting such Borrowing, and the Loans comprising of such Class constituting each such portion shall be considered a separate Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Cars.com Inc.)

Elections by the Borrower. The Loans comprising constituting each Borrowing initially shall be of the Type specified in the applicable Borrowing Request for Loan and, in the case of a Eurodollar Borrowing, shall have the Interest Period specified in such Borrowing RequestRequest for Loan. Thereafter, the Borrower may elect to convert such Borrowing to a Borrowing of a different Type or to continue such Borrowing as a Borrowing of the same Type and, in the case of a Eurodollar Borrowing, may elect the Interest Period therefor, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing, Borrowing (in which case in the case of Tranche B Loans, each such portion shall be allocated ratably among the Lenders holding the Loans comprising such BorrowingLenders), and the Loans comprising constituting each such portion shall be considered a separate Borrowing.

Appears in 1 contract

Samples: Second Lien Credit Agreement (Krispy Kreme Doughnuts Inc)

Elections by the Borrower. The Loans comprising constituting each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar Rate Borrowing, shall have the Interest Period specified in such Borrowing Request. Thereafter, the Borrower may elect to convert such Borrowing to a Borrowing of a different Type or to continue such Borrowing as a Borrowing of the same Type and, in the case of a Eurodollar Rate Borrowing, may elect the Interest Period therefor, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising constituting such Borrowing, and the Loans comprising constituting each such portion shall be considered a separate Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Intelsat LTD)

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Elections by the Borrower. The Loans comprising constituting each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar Borrowing, shall have the Interest Period specified in such Borrowing Request. Thereafter, the Borrower may elect to convert such Borrowing to a Borrowing of a different Type or to continue such Borrowing as a Borrowing of the same Type and, in the case of a Eurodollar Borrowing, may Annex 29 Annex Table of Contents elect the Interest Period therefor, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising constituting such Borrowing, and the Loans comprising constituting each such portion shall be considered a separate Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Morris Publishing Finance Co)

Elections by the Borrower. The Loans comprising constituting each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar Borrowing, shall have the an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to convert such Borrowing to a Borrowing of a different Type or to continue such Borrowing as a Borrowing of the same Type and, in the case of a Eurodollar Borrowing, may elect the Interest Period thereforPeriods, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising of the respective Class constituting such Borrowing, and the Loans comprising of such Class constituting each such portion shall be considered a separate Borrowing. This Section shall not apply to Swingline Borrowings, which may not be converted or continued.

Appears in 1 contract

Samples: Credit Agreement (HMS Holdings Corp)

Elections by the Borrower. The Loans comprising constituting each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar Borrowing, shall have the an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to convert such Borrowing to a Borrowing of a different Type or to continue such Borrowing as a Borrowing of the same Type and, in the case of a Eurodollar Borrowing, may elect the Interest Period thereforPeriods, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising of the respective Class constituting such Borrowing, and the Loans comprising of such Class constituting each such portion shall be considered a separate Borrowing. This Section shall not apply to Swingline Loans, which may not be converted or continued and which shall accrue interest based only at the Alternate Base Rate.

Appears in 1 contract

Samples: Credit Agreement (HMS Holdings Corp)

Elections by the Borrower. The Loans comprising constituting each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar Term Benchmark Borrowing, shall have the an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to convert such Borrowing to a Borrowing of a different Type or to continue such Borrowing as a Borrowing of the same Type and, in the case of a Eurodollar Term Benchmark Borrowing, may elect the Interest Period thereforPeriods, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising of the respective Class constituting such Borrowing, and the Loans comprising of such Class constituting each such portion shall be considered a separate Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Cars.com Inc.)

Elections by the Borrower. The Loans comprising each Each Borrowing initially shall be of the Type specified in the applicable Borrowing Request Request, and, in the case of a Eurodollar Borrowing or a Fixed Rate Borrowing, shall have the an Interest Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to convert such Borrowing to a Borrowing of Loans of any Class to a different Type of Loans of such Class or to continue such Borrowing as a Borrowing of the same Type and, in the case of a Eurodollar Borrowing or a Fixed Rate Borrowing, may elect the Interest Period Periods therefor, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Iowa Telecommunications Services Inc)

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