Failure to Elect. If no election as to the Type of a Borrowing is specified in the applicable Borrowing Request, then the requested Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any requested LIBO Rate Borrowing, the Borrower shall be deemed to have selected an Interest Period of one month’s duration.
Appears in 3 contracts
Samples: Uncommitted Revolving Credit Agreement (Power Solutions International, Inc.), Credit Agreement (Power Solutions International, Inc.), Credit Agreement (Power Solutions International, Inc.)
Failure to Elect. If no election as to the Type of a Borrowing is specified in the applicable Borrowing Request, then the requested Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any requested LIBO Rate SOFR Borrowing, the Borrower shall be deemed to have selected an Interest Period of one month’s duration.
Appears in 3 contracts
Samples: Uncommitted Revolving Credit Agreement (Power Solutions International, Inc.), Uncommitted Revolving Credit Agreement (Power Solutions International, Inc.), Agreement (Power Solutions International, Inc.)
Failure to Elect. If no election as to the Type of a Revolving Borrowing is specified in the applicable Borrowing Requestspecified, then the requested Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any requested LIBO Rate Borrowing, then the Borrower requested Borrowing shall be deemed to have selected made instead as an Interest Period of one month’s durationABR Borrowing.
Appears in 1 contract
Samples: Credit Agreement (Chugach Electric Association Inc)
