Common use of Failure to Elect Clause in Contracts

Failure to Elect. If no election as to the Currency of a Revolving Credit Borrowing is specified, then the requested Revolving Credit Borrowing shall be denominated in Dollars. If no election as to the Type of a Borrowing is specified, then the requested Borrowing shall be an ABR Borrowing unless such Borrowing is a Revolving Credit Borrowing as to which an Agreed Foreign Currency has been specified, in which case the requested Revolving Credit Borrowing shall be a Eurocurrency Borrowing denominated in such Agreed Foreign Currency. If no Interest Period is specified with respect to any requested Eurocurrency Borrowing, the Borrowers shall be deemed to have selected an Interest Period of one month’s duration.

Failure to Elect. If no election as to the Class of a Revolving Borrowing is specified, then the requested Borrowing shall be a Dollar Revolving Loan. If no election as to the Currency of a Revolving Credit Borrowing is specified, then the requested Revolving Credit Borrowing shall be denominated in Dollars. If no election as to the Type of a Borrowing is specified, then the requested Borrowing shall be an ABR Borrowing unless such a Eurocurrency Borrowing. If a Eurocurrency Borrowing is requested (or a Revolving Credit Borrowing as to which an Agreed Foreign Currency has been specified, in which case the requested Revolving Credit Borrowing shall will be a Eurocurrency Borrowing denominated in such Agreed Foreign Currency. If pursuant to the preceding sentence), but no Interest Period is specified with respect to any requested Eurocurrency Borrowingspecified, the Borrowers Borrower shall be deemed to have selected an Interest Period of one month’s duration.

Failure to Elect. If no election as to the Currency currency of a Revolving Credit Borrowing is specified, then the requested Revolving Credit Borrowing shall be denominated in Dollars. If no election as to the Type of a Borrowing is specifiedspecified in the applicable Borrowing Request, then the requested Borrowing shall be an ABR be, (i) in the case of a Borrowing unless such in Dollars, a Term SOFR Borrowing, (ii) in the case of a Borrowing is a Revolving Credit Borrowing as to which an Agreed Foreign Currency has been specifiedin Euros, in which case the requested Revolving Credit Borrowing shall be a Eurocurrency Rate Borrowing, and (iii) in the case of a Borrowing denominated in such Agreed Foreign CurrencySterling, a XXXXX Borrowing. If no Interest Period is specified with respect to any requested Term SOFR Borrowing or Eurocurrency Rate Borrowing, the Borrowers applicable Borrower shall be deemed to have selected an Interest Period of one month’s duration.

Failure to Elect. If no election as to the Currency of a Revolving Credit Syndicated Borrowing is specified, then the requested Revolving Credit Syndicated Borrowing shall be denominated in Dollars. If no election as to the Type of a Syndicated Borrowing is specified, then the requested Borrowing shall be an ABR Borrowing unless such Borrowing is a Revolving Credit Borrowing as to which an Agreed Foreign Currency has been specified, in which case the requested Revolving Credit Syndicated Borrowing shall be a Eurocurrency Borrowing denominated in such Agreed Foreign Currency. If no Interest Period is specified with respect to any requested Syndicated Eurocurrency Borrowing, the Borrowers Borrower shall be deemed to have selected an Interest Period of one month’s duration.