Common use of Interest Period Selection/Continuation Clause in Contracts

Interest Period Selection/Continuation. Conversion Elections. (a) By delivering an Interest Period Selection/Continuation/Conversion Notice to the Agent Certificate Holder and Administrative Agent with respect to Certificate Holder Amounts and Loans, respectively, the Lessee may from time to time during the Lease Term irrevocably select, on not less than three (3) nor more than five (5) Business Days' notice, that all or any portion of the outstanding Loans and Certificate Holder Amounts be, in the case of Base Rate Loans/Certificate Holder Amounts, converted into Eurodollar Loans/Certificate Holder Amounts or, in the case of Eurodollar Loans/Certificate Holder Amounts, converted into Base Rate Loans/Certificate Holder Amounts or continued as Eurodollar Loans/Certificate Holder Amounts and, with respect to Eurodollar Loans/Certificate Holder Amounts, select the duration for the next succeeding Interest Period; provided, however, that (a) in the absence of a delivery of an Interest Period Selection/Continuation/Conversion Notice with respect to any Eurodollar Loan/Certificate Holder Amount at least three (3) Business Days before the last day of the then current Interest Period with respect thereto, the Lessee shall be deemed to have selected that such Eurodollar Loan/Certificate Holder Amount be continued as a Eurodollar Loan/Certificate Holder Amount on such last day with an Interest Period of one (1) month, (b) each such conversion or continuation shall be pro rated among the applicable outstanding Loans and Certificate Holder Amounts of all Participants, (c) no portion of any Loan or Certificate Holder Amount may be continued as, or converted into, a Eurodollar Loan/Certificate Holder Amount when any Lease Default or Lease Event of Default has occurred and is continuing, (d) the outstanding Loans and Certificate Holder Amounts may not be apportioned into more than six (6) separate Loans and Certificate Holder Amounts pursuant to this Section 3.6 at any one time and each such Eurodollar Loan/Certificateholder Amount shall be in a minimum amount of $500,000, and (e) during the Construction Period, Eurodollar Loans/Certificate Holder Amounts will be limited to one (1) month Interest Periods. (b) The Lessee, with respect to any Loans and Certificate Holder Amounts outstanding during the Interim Lease Term, shall be deemed to have (i) converted Base Rate Loans/Certificate Holder Amounts into Eurodollar Loans/Certificate Holder Amounts at the end of the Initial Interest Period, (ii) as of each Scheduled Payment Date (other than the Interim Termination Date), continued all outstanding Eurodollar Loans/Certificate Holder Amounts as Eurodollar Loans/Certificate Holder Amounts and (iii) as of each Scheduled Payment Date (other than the Interim Termination Date) selected an Interest Period ending on the earlier of the next succeeding Scheduled Payment Date and the Interim Termination Date. Each Interest Period Selection/Continuation/Conversion Notice so delivered or deemed delivered by the Lessee shall be deemed an effective election by the Certificate Holders of the method for computing interest on the Loans under the Loan Agreement.

Interest Period Selection/Continuation. Conversion Elections. (a) By delivering an Interest Period Selection/Continuation/Conversion Notice to the Agent Certificate Holder and Administrative Agent with respect to Certificate Holder Amounts and Loans, respectively, the Lessee may from time to time during the Lease Term irrevocably select, on not less than three (3) nor more than five (5) Business Days' notice, that all or any portion of the outstanding Loans and Certificate Holder Amounts be, in the case of Base Rate Loans/Certificate Holder Amounts, converted into Eurodollar Loans/Certificate Holder Amounts or, in the case of Eurodollar Loans/Certificate Holder Amounts, converted into Base Rate Loans/Certificate Holder Amounts or continued as Eurodollar Loans/Certificate Holder Amounts and, with respect to Eurodollar Loans/Certificate Holder Amounts, select the duration for the next succeeding Interest Period; provided, however, that (a) in the absence of a delivery of an Interest Period Selection/Continuation/Conversion Notice with respect to any Eurodollar Loan/Certificate Holder Amount at least three (3) Business Days before the last day of the then current Interest Period with respect thereto, the Lessee shall be deemed to have selected that such Eurodollar Loan/Certificate Holder Amount be continued as a Eurodollar Loan/Certificate Holder Amount on such last day with an Interest Period of one (1) month, (b) each such conversion or continuation shall be pro rated among the applicable outstanding Loans and Certificate Holder Amounts of all Participants, (c) no portion of any Loan or Certificate Holder Amount may be continued as, or converted into, a Eurodollar Loan/Certificate Holder Amount when any Lease Default or Lease Event of Default has occurred and is continuing, (d) the outstanding Loans and Certificate Holder Amounts may not be apportioned into more than six four (64) separate Loans and Certificate Holder Amounts pursuant to this Section 3.6 at any one time and each such Eurodollar Loan/Certificateholder Amount shall be in a minimum amount of $500,000, and (e) during the Construction Period, Eurodollar Loans/Certificate Holder Amounts will be limited to one (1) month Interest Periods. (b) The Lessee, with respect to any Loans and Certificate Holder Amounts outstanding during the Interim Lease Term, shall be deemed to have (i) converted Base Rate Loans/Certificate Holder Amounts into Eurodollar Loans/Certificate Holder Amounts at the end of the Initial Interest Period, (ii) as of each Scheduled Payment Date (other than the Interim Termination Date), continued all outstanding Eurodollar Loans/Certificate Holder Amounts as Eurodollar Loans/Certificate Holder Amounts and (iii) as of each Scheduled Payment Date (other than the Interim Termination Date) selected an Interest Period ending on the earlier of the next succeeding Scheduled Payment Date and the Interim Termination Date. Each Interest Period Selection/Continuation/Conversion Notice so delivered or deemed delivered by the Lessee shall be deemed an effective election by the Certificate Holders of the method for computing interest on the Loans under the Loan Agreement.

Interest Period Selection/Continuation. Conversion Elections. (a) By delivering an Interest Period Selection/Continuation/Conversion Notice to the Agent Certificate Holder and Administrative Agent with respect to Certificate Holder Amounts and Loans, respectively, the Lessee Agent may from time to time during the Lease Term irrevocably select, on not less than three (3) nor more than five (5) Business Days' notice, that all or any portion of the outstanding Loans and Certificate Holder Amounts be, in the case of Base Rate Loans/Certificate Holder Amounts, converted into Eurodollar Loans/Certificate Holder Amounts or, in the case of Eurodollar Loans/Certificate Holder Amounts, converted into Base Rate Loans/Certificate Holder Amounts or continued as Eurodollar Rate Loans/Certificate Holder Amounts and, with respect to Eurodollar Loans/Certificate Holder Amounts, select the duration for the next succeeding Interest Period; provided, however, that (a) in the absence of a delivery of an Interest Period Selection/Continuation/Conversion Notice with respect to any Eurodollar Loan/Certificate Holder Amount at least three (3) Business Days before the last day of the then current Interest Period with respect thereto, the Lessee Agent shall be deemed to have selected that such Eurodollar Loan/Certificate Holder Amount be continued as a Eurodollar Loan/Certificate Holder Amount on such last day with an Interest Period of one (1) month, (b) each such conversion or continuation shall be pro rated among the applicable outstanding Loans and Certificate Holder Amounts of all Participants, (c) no portion of any Loan or Certificate Holder Amount may be continued as, or converted into, a Eurodollar Loan/Certificate Holder Amount when any Lease Default or Lease Event of Default has occurred and is continuing, and (d) the outstanding Loans and Certificate Holder Amounts may not be apportioned into more than six (6) separate Loans and Certificate Holder Amounts pursuant to this Section 3.6 at any one time and each such Eurodollar Loan/Certificateholder Amount shall be in a minimum amount of $500,000, and (e) during the Construction Period, Eurodollar Loans/Certificate Holder Amounts will be limited to one (1) month Interest Periods. (b) The Lesseethe Lessee Agent, with respect to any Loans and Certificate Holder Amounts outstanding during the Interim Lease Term, shall be deemed to have (i) converted Base Rate Loans/Certificate Holder Amounts into Eurodollar Loans/Certificate Holder Amounts at the end of the Initial initial Interest Period, (ii) as of each Scheduled Payment Date (other than the Interim Termination Date), continued all outstanding Eurodollar Loans/Certificate Holder Amounts as Eurodollar Loans/Certificate Holder Amounts and (iii) as of each Scheduled Payment Date (other than the Interim Termination Date) selected an Interest Period ending on the earlier of the next succeeding Scheduled Payment Date and the Interim Termination Date. Each Interest Period Selection/Continuation/Conversion Notice so delivered or deemed delivered by the Lessee Agent shall be deemed an effective election by the Certificate Holders of the method for computing interest on the Loans under the Loan Agreement.

Interest Period Selection/Continuation. Conversion Elections. (a) By delivering an Interest Period Selection/Continuation/Conversion Notice to the Agent Certificate Holder Lessor and Administrative Agent with respect to Certificate Holder Amounts Loans and Loans, respectivelyLessor Amounts, the Lessee Representative may from time to time during the Basic Lease Term irrevocably select, on not less than three (3) nor more than five (5) Business Days' notice, that all or any portion of the outstanding Loans and Certificate Holder Lessor Amounts be, in the case of Base Rate Loans/Certificate Holder Lessor Amounts, converted into Eurodollar Loans/Certificate Holder Lessor Amounts or, in the case of Eurodollar Loans/Certificate Holder Lessor Amounts, converted into Base Rate Loans/Certificate Holder Lessor Amounts or continued as Eurodollar Rate Loans/Certificate Holder Lessor Amounts and, with respect to Eurodollar Loans/Certificate Holder Lessor Amounts, select the duration for the next succeeding Interest Period; provided, however, that (a) in the absence of a delivery of an Interest Period Selection/Continuation/Conversion Notice with respect to any Eurodollar Loan/Certificate Holder Lessor Amount at least three (3) Business Days before the last day of the then current Interest Period with respect thereto, the Lessee Representative (on behalf of all Lessees) shall be deemed to have selected that such Eurodollar Loan/Certificate Holder Lessor Amount be continued as converted into a Eurodollar Base Rate Loan/Certificate Holder Lessor Amount on such last day with an Interest Period of one (1) monthday, (b) each such conversion or continuation shall be pro rated among the applicable outstanding Loans and Certificate Holder Lessor Amounts of all Participants, (c) no portion of any Loan or Certificate Holder Lessor Amount may be continued as, or converted into, a Eurodollar Loan/Certificate Holder Lessor Amount when any Lease Default or Lease Event of Default has occurred and is continuing, and (d) the outstanding Loans and Certificate Holder Lessor Amounts may not be apportioned into more than six three (63) separate Loans and Certificate Holder Lessor Amounts pursuant to this Section 3.6 3.6(a) at any one time and each such Eurodollar Loan/Certificateholder Amount shall be in a minimum amount of $500,000, and (e) during the Construction Period, Eurodollar Loans/Certificate Holder Amounts will be limited to one (1) month Interest Periodstime. (b) The Lesseethe Representative, with respect to any Loans and Certificate Holder Lessor Amounts outstanding during the Interim Lease Term, shall be deemed to have (i) converted Base Rate Loans/Certificate Holder Lessor Amounts into Eurodollar Loans/Certificate Holder Lessor Amounts at the end of the Initial Interest Period, (ii) as of each Scheduled Payment Date (other than the Interim Termination Date), continued all outstanding Eurodollar Loans/Certificate Holder Lessor Amounts as Eurodollar Loans/Certificate Holder Lessor Amounts and (iii) as of each Scheduled Payment Date (other than the Interim Termination Date) selected an Interest Period ending on the earlier of the next succeeding Scheduled Payment Date and the Interim Termination Date. Each Interest Period Selection/Continuation/Conversion Notice so delivered or deemed delivered by the Lessee Representative shall be deemed an effective election by the Certificate Holders Lessors of the method for computing interest on the Loans under the Loan Agreement.