Common use of If No Notice Clause in Contracts

If No Notice. If Borrower fails to select an interest rate option in accordance with the foregoing prior to a Loan, or prior to the last day of the applicable Interest Period of an outstanding Libor Advance, or if a Libor Advance is not available, any new Loan made shall be deemed to be a Variable Rate Advance, and on the last day of the applicable Interest Period all outstanding principal amounts shall be deemed converted to a Variable Rate Advance.

If No Notice. If a Borrower fails to select an interest rate option in accordance with the foregoing prior to a LoanWarehousing Advance, or prior to the last day of the applicable Interest Period of an outstanding Libor LIBOR Advance, or if a Libor LIBOR Advance is not available, any new Loan Warehousing Advance made shall be deemed to be a Variable Rate Advance, and on the last day of the applicable Interest Period all outstanding principal amounts of such Warehousing Advance shall be deemed converted to a Variable Rate Advance.

If No Notice. If Borrower BORROWER fails to select an interest rate option in accordance with the foregoing prior to a LoanLoan Advance, or prior to the last day of the applicable Interest Period of an outstanding Libor LIBOR Advance, or if a Libor LIBOR Advance is selected but is not available, any new Loan Advance made shall be deemed to be a Variable Prime Rate Advance, and on the last day of the applicable Interest Period all outstanding principal amounts shall be deemed converted to a Variable Prime Rate Advance.

If No Notice. If Borrower fails to select an interest rate option in accordance with the foregoing prior to a LoanLoan Advance, or prior to the last day of the applicable Interest Period of an outstanding Libor LIBOR Based Advance, or if a Libor LIBOR Based Advance is not available, any new Loan Advance made shall be deemed to be a Variable Rate Advance, and on the last day of the applicable Interest Period all outstanding principal amounts shall be deemed converted to a Variable Rate Advance.