Failure to Elect Type. If no election as to the Type of a Borrowing is specified in the applicable Borrowing Request, then the requested Borrowing shall be a SOFR Borrowing. If no Interest Period is specified with respect to any requested SOFR Borrowing, the Parent Borrower shall be deemed to have selected an Interest Period of one month’s duration.
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Samples: Credit and Guaranty Agreement (Varex Imaging Corp), Revolving Credit and Guaranty Agreement (Varex Imaging Corp)
Failure to Elect Type. If no election as to the Type of a Borrowing is specified in the applicable Borrowing Request, then the requested Borrowing shall be a SOFR Base Rate Borrowing. If no Interest Period is specified with respect to any requested SOFR Borrowing, the Parent applicable Borrower shall be deemed to have selected an Interest Period of one month’s duration.
Appears in 1 contract
Samples: Credit Agreement (Pricesmart Inc)
Failure to Elect Type. If no election as to the Type of a Borrowing is specified in the applicable Borrowing Request, then the requested Borrowing shall be a SOFR Borrowing. If no Interest Period is specified with respect to any requested SOFR Borrowing, the Parent Borrower shall be deemed to have selected an Interest Period of one month’s duration.
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