Interest Election Notice. To make an election pursuant to this Section, the Borrower shall deliver, by hand delivery or facsimile or other electronic transmission if arrangements for doing so have been approved in writing (including via email) by the Administrative Agent, a duly completed and executed Interest Election Request to the Administrative Agent not later than the time that a Borrowing Request would be required under Section 2.03 if the Borrower were requesting a Revolving Borrowing or Term Loan Borrowing of the Type resulting from such election to be made on the effective date of such election. Each Interest Election Request shall be irrevocable. Each Interest Election Request shall specify the following information in compliance with Section 2.02:
(i) the Borrowing to which such Interest Election Request applies and, if different options are being elected with respect to different portions thereof, or if outstanding Borrowings are being combined, allocation to each resulting Borrowing (in which case the information to be specified pursuant to clauses (iii) and (iv) below, as applicable, shall be specified for each resulting Borrowing);
(ii) the effective date of the election made pursuant to such Interest Election Request, which shall be a Business Day;
(iii) whether the resulting Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing; and
(iv) if the resulting Borrowing is a Eurodollar Borrowing, the Interest Period to be applicable thereto after giving effect to such election, which shall be a period contemplated by the definition of the term “Interest Period.” If any such Interest Election Request requests a Eurodollar Borrowing but does not specify an Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one (1) month’s duration. Promptly following receipt of an Interest Election Request, the Administrative Agent shall advise each Lender of the details thereof and of such Lender’s portion of each resulting Borrowing.
Interest Election Notice. To make an election pursuant to this Section, the Borrower shall deliver, by hand delivery, telecopier, or, to the extent separately agreed by the Administrative Agent, by an electronic communication in accordance with the second sentence of Section 11.01(b) and the second paragraph of Section 11.01(d), a duly completed and executed Interest Election Request to the Administrative Agent not later than 10:00 a.m., India Standard Time, four (4) Business Days before the effective date of such election. Each Interest Election Request shall be irrevocable. Each Interest Election Request shall specify the following information in compliance with Section 2.02:
(i) the Borrowing to which such Interest Election Request applies and, if different options are being elected with respect to different portions thereof, or if outstanding Borrowings are being combined, allocation to each resulting Borrowing (in which case the information to be specified pursuant to clause (iii) below shall be specified for each resulting Borrowing);
(ii) the effective date of the election made pursuant to such Interest Election Request, which shall be a Business Day; and
(iii) the Interest Period to be applicable thereto after giving effect to such election, which shall be a period contemplated, as applicable, by the definition of the term “Interest Period”. If any such Interest Election Request requests a SOFR Borrowing but does not specify an Interest Period, then the Borrower shall be deemed to have selected an Interest Period of three month’s duration. Promptly following receipt of an Interest Election Request, the Administrative Agent shall advise each Lender of the details thereof and of such Lender’s portion of each resulting Borrowing.
Interest Election Notice. To make an election pursuant to this Section, the Borrower shall deliver a duly completed and executed Interest Election Request to (x) in the case of any Revolving Credit Loans, the Revolving Administrative Agent and (y) in the case of any Term Loans, the Administrative Agent, in each case, no later than 1:00 p.m., (a) at least 3 Business Days prior to the proposed date, to convert all or any portion of ABR Loans to Term SOFR Loans, or the proposed date, to continue any Term SOFR Loans; and (b) on the proposed date, to convert all or any portion of Term SOFR Loans to ABR Loans. Each Interest Election Request shall be irrevocable. Each Interest Election Request shall specify the following information:
(A) the effective date of the election made pursuant to such Interest Election Request, which shall be a Business Day;
(B) whether the Loans will be converted to ABR Loans or Term SOFR Loans, and the amount to be so converted, or continued as Term SOFR Loans; and
(C) if the resulting Loans are Term SOFR Loans, the Interest Period to be applicable thereto after giving effect to such election, which shall be a period contemplated by the definition of “Interest Period.” If any such Interest Election Request requests Term SOFR Loans but does not specify an Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of an Interest Election Request, the Administrativeapplicable Agent shall advise each applicable Lender of the details thereof.
Interest Election Notice. To make an election pursuant to this Section, Borrowers shall notify the Administrative Agent of such election by telephone or by email of a scanned and duly executed Interest Election Request by the time that a Borrowing Request would be required under Section 2.03 if Borrowers were requesting a Term Borrowing of the Type resulting from such election to be made on the effective date of such election. Each such telephonic Interest Election Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Interest Election Request substantially in the form of Exhibit D.
Interest Election Notice. To make an election pursuant to this Section, Borrower shall deliver, by hand delivery or telecopier, a duly completed and executed Interest Election Request to Administrative Agent not later than 11:00 a.m., New York City time, (i) three (3) Business Days before the proposed date of conversion or continuation, in the case of Eurodollar Loans, and (ii) not later than 11:00 a.m. New York City time, on the proposed date of conversion or continuation, in the case of ABR Loans. Each Interest Election Request shall be irrevocable. Each Interest Election Request shall specify the following information in compliance with Section 2.02:
(i) the effective date of the election made pursuant to such Interest Election Request, which shall be a Business Day;
(ii) whether the resulting Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing; and
(iii) if the resulting Borrowing is a Eurodollar Borrowing, the Interest Period to be applicable thereto after giving effect to such election, which shall be a period contemplated by the definition of the term “Interest Period”. Promptly following receipt of an Interest Election Request, Administrative Agent shall advise each Lender of the details thereof and of such Lender’s portion of each resulting Borrowing.
Interest Election Notice. To make an election pursuant to this Section 2.08, Administrative Borrower shall deliver, by hand delivery or telecopier, a duly completed and executed Interest Election Request to the Administrative Agent not later than the time that a Borrowing Request would be required under Section 2.03 if Administrative Borrower were requesting a Borrowing of the Type resulting from such election to be made on the effective date of such election. Each Interest Election Request shall be irrevocable. The Administrative Borrower shall not select any tenor that has been removed from the definition of “Interest Period” (or its constituent definitions) pursuant to Section 2.11(d) or otherwise as a result of any Benchmark Replacement Conforming Changes. Each Interest Election Request shall specify the following information in compliance with Section 2.02: (i1) the Borrowing to which such Interest Election Request applies and, if different options are being elected with respect to different portions thereof, or if outstanding Borrowings are being combined, allocation to each resulting Borrowing (in which case the information to be specified pursuant to clauses (iii) and (v) below shall be specified for each resulting Borrowing);
Interest Election Notice. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (an “Interest Election Notice”) of each conversion of a Base Rate Advance into a Eurodollar Rate Advance or continuation of a Eurodollar Rate Advance not later than 12:00 noon (New York time) three (3) Business Days prior to the date of the requested conversion or continuation, specifying: (i) the requested date (which shall be a Business Day) of such conversion or continuation; (ii) the amount and Type of the Advance to be converted or continued; and (iii) the amount of Eurodollar Rate Advance(s) into which such Advance is to be converted or continued.
Interest Election Notice. To make an election pursuant to this Section, the Borrower shall deliver, by hand delivery or facsimile or other electronic transmission if
Interest Election Notice. 12 2.9 Company to Indemnify Trustee and Debenture Holders................................................... 14 2.10
Interest Election Notice. 2.8.1 The Company may elect to pay any or all of the Interest Amount payable on any Interest Payment Date by the application of the proceeds of sale of Common Shares in accordance herewith (the "INTEREST PAYMENT ELECTION"). The Company may make such election, unless an event of default has occurred and is continuing, by providing to the Trustee, a written notice (an "INTEREST ELECTION NOTICE") no later than the earlier of (i) the date required by applicable law or the rules of any stock exchange on which the Debentures are then listed; or (ii) 15 days prior to the applicable Interest Payment Date to which the Interest Election Notice relates. The Interest Election Notice shall specify:
(a) the Interest Amount to which the election relates and the Interest Payment Date;
(b) the amount of the payment due to the Debenture holders on the Interest Payment Date that the Company proposes to satisfy by the application of the proceeds of sale of Common Shares;
(c) the specific Persons from whom the Trustee shall request bids to purchase the Common Shares and the parameters of such bids, which may include minimum number of Common Shares, minimum price per Common Share, timing of settlement for trades resulting from such bids and such other matters as the Company may specify;
(d) that the Trustee shall accept only those bids which comply with such notice; and
(e) that such notice has been delivered to the Trustee by the time required by this subsection 2.8.
1. In connection with the Interest Payment Election, the Trustee shall have the power on behalf of the Company to (i) accept bids with respect to Common Shares on behalf of the Company as the Company shall direct in its absolute discretion; (ii) accept delivery of Common Shares from the Company required to consummate sales contemplated by bids so accepted (and consummate such sales as the Company shall direct in its sole discretion), plus cash in an amount equal to the value of any fractional Common Share; (iii) at the direction of the Company and subject to subsections 2.8.3 and 13.6.1, invest the proceeds of such sales (together with any cash received from the Company in respect of any fractional Common Share) in Government Obligations specified by the Company which mature prior to the applicable Interest Payment Date and in accordance with subsection 2.8.3, and use the proceeds from the Government Obligations to pay such Interest Amount on the Interest Payment Date; and (iv) perform any other action necessarily...
