Common use of Failure to Elect; Events of Default Clause in Contracts

Failure to Elect; Events of Default. If the Borrower fails to deliver a timely and complete Interest Election Request with respect to a Borrowing of LIBO Loans prior to the end of the Interest Period therefor, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period, such Borrowing shall be continued as a Borrowing of LIBO Loans. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as an Event of Default is continuing, (A) no outstanding Borrowing may be converted to or continued as a Borrowing of LIBO Loans and (B) unless repaid, each Borrowing of LIBO Loans shall be converted to a Borrowing of Base Rate Loans at the end of the Interest Period therefor.

Failure to Elect; Events of Default. If the a Borrower fails to deliver a timely and complete Interest Election Request with respect to a Syndicated Eurocurrency Borrowing of LIBO Loans prior to the end of the Interest Period therefor, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period, Period such Borrowing shall be continued as a Borrowing of LIBO Loansconverted to an ABR Borrowing. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the BorrowerBorrowers, then, so long as an Event of Default is continuing, continuing (A) no outstanding Syndicated Borrowing may be converted to or continued as a Syndicated Eurocurrency Borrowing of LIBO Loans and (B) unless repaid, each Syndicated Eurocurrency Borrowing of LIBO Loans shall be converted to a an ABR Borrowing of Base Rate Loans at the end of the Interest Period therefor.

Failure to Elect; Events of Default. If the relevant Borrower fails to deliver a timely and complete Interest Election Request with respect to a Syndicated Eurodollar Borrowing of LIBO Loans prior to the end of the Interest Period therefor, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period, Period such Borrowing shall be continued as a Borrowing of LIBO Loansconverted to an ABR Borrowing. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the relevant Borrower, then, so long as an Event of Default is continuing, continuing (Ai) no outstanding Syndicated Borrowing may be converted to or continued as a Syndicated Eurodollar Borrowing of LIBO Loans and (Bii) unless repaid, each Syndicated Eurodollar Borrowing of LIBO Loans shall be converted to a an ABR Borrowing of Base Rate Loans at the end of the Interest Period therefor.

Failure to Elect; Events of Default. If the Borrower fails ----------------------------------- to deliver a timely and complete Interest Election Request with respect to a Eurodollar Borrowing of LIBO Loans prior to the end of the Interest Period thereforapplicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period, Period such Borrowing shall be continued as a Borrowing of LIBO Loansconverted to an ABR Borrowing. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as an Event of Default is continuing, continuing (Ai) no outstanding Borrowing may be converted to or continued as a Eurodollar Borrowing of LIBO Loans and (Bii) unless repaid, each Eurodollar Borrowing of LIBO Loans shall be converted to a an ABR Borrowing of Base Rate Loans at the end of the Interest Period thereforapplicable thereto.

Failure to Elect; Events of Default. If the Borrower fails to deliver a timely and complete Interest Election Request with respect to a Eurodollar Revolving Borrowing of LIBO Loans prior to the end of the Interest Period therefor, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period, Period such Borrowing shall be continued as a Borrowing of LIBO Loansconverted to an ABR Revolving Borrowing. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as an such Event of Default is continuing, continuing (A) no outstanding Revolving Borrowing may be converted to or continued as a Eurodollar Borrowing of LIBO Loans and (B) unless repaid, each Eurodollar Borrowing of LIBO Loans shall be converted to a an ABR Borrowing of Base Rate Loans at the end of the Interest Period therefor.

Failure to Elect; Events of Default. If the a Borrower fails to deliver a timely and complete Interest Election Request with respect to a Syndicated Eurodollar Borrowing of LIBO Loans prior to the end of the Interest Period therefor, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period, Period such Borrowing shall be continued as a Borrowing of LIBO Loansconverted to an ABR Borrowing. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the relevant Borrower, then, so long as an Event of Default is continuing, continuing (Ai) no outstanding Syndicated Borrowing may be converted to or continued as a Syndicated Eurodollar Borrowing of LIBO Loans and (Bii) unless repaid, each Syndicated Eurodollar Borrowing of LIBO Loans shall be converted to a an ABR Borrowing of Base Rate Loans at the end of the Interest Period therefor.

Failure to Elect; Events of Default. If the Borrower fails to deliver a timely and complete Interest Election Request with respect to a Term Benchmark Borrowing of LIBO Loans prior to the end of the Interest Period thereforapplicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period, Period such Borrowing shall be continued as a Term Benchmark Borrowing of LIBO Loanswith a one-month Interest Period. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as an Event of Default is continuing, continuing (Ai) no outstanding Borrowing by Borrower may be converted to or continued as a Term Benchmark Borrowing of LIBO Loans and (Bii) unless repaid, each Term Benchmark Borrowing of LIBO Loans Borrower shall be converted to a an ABR Borrowing of Base Rate Loans at the end of the Interest Period thereforapplicable thereto.

Failure to Elect; Events of Default. If the Borrower fails to deliver a timely and complete Interest Election Request with respect to a LIBOR Borrowing of LIBO Loans prior to the end of the Interest Period thereforapplicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period, Period such Borrowing shall be continued as a Borrowing of LIBO Loansconverted to an ABR Borrowing. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as an Event of Default is continuing, continuing (Ai) no outstanding Borrowing may be converted to or continued as a LIBOR Borrowing of LIBO Loans and (Bii) unless repaid, each LIBOR Borrowing of LIBO Loans shall be converted to a an ABR Borrowing of Base Rate Loans at the end of the Interest Period thereforapplicable thereto.

Failure to Elect; Events of Default. If the Borrower fails to deliver a timely and complete Interest Election Request with respect to a Term Benchmark Borrowing of LIBO Loans prior to the end of the Interest Period thereforapplicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period, Period such Borrowing shall be continued as a Borrowing of LIBO Loansdeemed to have an Interest Period that is one month. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as an Event of Default is continuing, continuing (Ai) no outstanding Borrowing may be converted to or continued as a Term Benchmark Borrowing of LIBO Loans and (Bii) unless repaid, each Term Benchmark Borrowing of LIBO Loans shall be converted to a an ABR Borrowing of Base Rate Loans at the end of the Interest Period thereforapplicable thereto.

Failure to Elect; Events of Default. If the Borrower fails to deliver a timely and complete Interest Election Request with respect to a Eurodollar Rate Borrowing of LIBO Loans prior to the end of the Interest Period therefor, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period, Period such Borrowing shall be continued as a Eurodollar Rate Borrowing of LIBO Loanswith a one-week Interest Period. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as an Event of Default is continuing, continuing (A) no outstanding Borrowing may be converted to or continued as a Eurodollar Rate Borrowing of LIBO Loans and (B) unless repaid, each Eurodollar Rate Borrowing of LIBO Loans shall be converted to a an ABR Borrowing of Base Rate Loans at the end of the Interest Period therefor.

Failure to Elect; Events of Default. If the Borrower fails to deliver a timely and complete Interest Election Request with respect to a LIBOR Borrowing of LIBO Loans prior to the end of the Interest Period therefor, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period, Period such Borrowing shall be continued as a LIBOR Borrowing of LIBO Loanswith a 1-month Interest Period. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as an Event of Default is continuing, (A) no outstanding Borrowing may be converted to or continued as a LIBOR Borrowing of LIBO Loans and (B) unless repaid, each LIBOR Borrowing of LIBO Loans shall be converted to a an ABR Borrowing of Base Rate Loans at the end of the Interest Period therefor.

Failure to Elect; Events of Default. If the Borrower fails to ----------------------------------- deliver a timely and complete Interest Election Request with respect to a Eurodollar Revolving Borrowing of LIBO Loans prior to the end of the Interest Period thereforapplicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period, Period such Borrowing shall be continued as a Borrowing of LIBO Loansconverted to an ABR Borrowing. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as an Event of Default is continuing, continuing (Ai) no outstanding Revolving Borrowing may be converted to or continued as a Eurodollar Borrowing of LIBO Loans and (Bii) unless repaid, each Eurodollar Revolving Borrowing of LIBO Loans shall be converted to a an ABR Borrowing of Base Rate Loans at the end of the Interest Period thereforapplicable thereto.

Failure to Elect; Events of Default. If the respective Borrower fails to deliver a timely and complete Interest Election Request with respect to a Syndicated Eurodollar Borrowing of LIBO Loans prior to the end of the Interest Period therefor, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period, Period such Borrowing shall be continued as a Borrowing of LIBO Loansconverted to an ABR Borrowing. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the respective Borrower, then, so long as an Event of Default is continuing, continuing (Ai) no outstanding Syndicated Borrowing may be converted to or continued as a Syndicated Eurodollar Borrowing of LIBO Loans and (Bii) unless repaid, each Syndicated Eurodollar Borrowing of LIBO Loans shall be converted to a an ABR Borrowing of Base Rate Loans at the end of the Interest Period therefor.

Failure to Elect; Events of Default. If the Borrower fails to deliver a timely and complete Interest Election Request with respect to a LIBOR Borrowing of LIBO Loans prior to the end of the Interest Period therefor, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period, Period such Borrowing shall be converted to or continued as a LIBOR Borrowing of LIBO Loanswith a 3-month Interest Period. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as an Event of Default is continuing, (A) no outstanding Borrowing may be converted to or continued as a LIBOR Borrowing of LIBO Loans and (B) unless repaid, each LIBOR Borrowing of LIBO Loans shall be converted to a an ABR Borrowing of Base Rate Loans at the end of the Interest Period therefor.