Common use of Failure to Make an Interest Election Request; Events of Default Clause in Contracts

Failure to Make an Interest Election Request; Events of Default. If the applicable Borrower fails to deliver a timely and complete Interest Election Request with respect to a SOFR Borrowing prior to the end of the Interest Period therefor, then, unless such SOFR Borrowing is repaid as provided herein, such Borrower shall be deemed to have selected that such SOFR Borrowing shall automatically be converted to a Base Rate Borrowing at the end of such 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 Company, then, so long as such Event of Default is continuing (i) no outstanding Borrowing may be converted to or continued as a SOFR Borrowing and (ii) unless repaid as provided herein, each SOFR Borrowing shall automatically be converted to a Base Rate Borrowing at the end of the Interest Period therefor.

Failure to Make an Interest Election Request; Events of Default. If the applicable Parent Borrower fails to deliver a timely and complete Interest Election Request with respect to a SOFR Borrowing prior to the end of the Interest Period therefor, then, unless such SOFR Borrowing is repaid as provided herein, such the Parent Borrower shall be deemed to have selected that such SOFR Borrowing shall automatically be converted to continued as a Base Rate SOFR Borrowing with an Interest Period of one month at the end of such 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 CompanyParent Borrower, then, so long as such Event of Default is continuing (i) no outstanding Borrowing may be converted to or continued as a SOFR Borrowing and (ii) unless repaid as provided herein, each SOFR Borrowing shall automatically be converted to a Base Rate Borrowing at the end of the Interest Period therefor.

Failure to Make an Interest Election Request; Events of Default. If the applicable Parent Borrower fails to deliver a timely and complete Interest Election Request with respect to a SOFR Borrowing prior to the end of the Interest Period therefor, then, unless such SOFR Borrowing is repaid as provided herein, such the Parent Borrower shall be deemed to have selected that such SOFR Borrowing shall automatically be converted to continued as a Base Rate SOFR Borrowing with an Interest Period of one month at the end of such 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, Lender so notifies the CompanyParent Borrower, then, so long as such Event of Default is continuing (i) no outstanding Borrowing may be converted to or continued as a SOFR Borrowing and (ii) unless repaid as provided herein, each SOFR Borrowing shall automatically be converted to a Base Rate Borrowing at the end of the Interest Period therefor.

Failure to Make an Interest Election Request; Events of Default. If the applicable Borrower fails to deliver a timely and complete Interest Election Request with respect to a SOFR Borrowing prior to the end of the Interest Period therefor, then, unless such SOFR Borrowing is repaid as provided herein, such the Borrower shall be deemed to have selected that such SOFR Borrowing shall automatically be converted to continued as a Base Rate SOFR Borrowing with an Interest Period of one month at the end of such 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 CompanyBorrower, then, so long as such Event of Default is continuing (i) no outstanding Borrowing may be converted to or continued as a SOFR Borrowing and (ii) unless repaid as provided herein, each SOFR Borrowing shall automatically be converted to a Base Rate Borrowing at the end of the Interest Period therefor.

Failure to Make an Interest Election Request; Events of Default. If the applicable Borrower fails to deliver a timely and complete Interest Election Request with respect to a Term SOFR Borrowing Loan prior to the end of the Interest Period therefor, then, unless such Term SOFR Borrowing Loan is repaid as provided herein, such Borrower shall be deemed to have selected that such Term SOFR Borrowing Loan shall automatically be converted to a an Alternate Base Rate Borrowing Loan at the end of such 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 Majority Lenders, so notifies the CompanyBorrower, then, so long as such Event of Default is continuing (i) no outstanding Borrowing Loans may be converted to or continued as a Term SOFR Borrowing Loan and (ii) unless repaid as provided herein, each Term SOFR Borrowing Loan shall automatically be converted to a an Alternate Base Rate Borrowing Loan at the end of the Interest Period therefor.