Common use of LIBOR Rate Election Clause in Contracts

LIBOR Rate Election. All Loans made on the ------------------- Closing Date shall be Base Rate Loans and shall remain so for three (3) days. Thereafter, subject to the provisions of subsection 1.2(A), Borrower Representative shall have the option ---------- ------ to (1) convert at any time all or any part of outstanding Loans equal to $2,500,000 and integral multiples of $250,000 in excess of that amount from Base Rate Loans to LIBOR Loans or (2) upon the expiration of any Interest Period applicable to a LIBOR Loan, to (a) continue all or any portion of such LIBOR Loan equal to $2,500,000 and integral multiplies of $250,000 in excess of that amount as a LIBOR Loan or (b) convert all or any portion of such LIBOR Loan to a Base Rate Loan. Borrower Representative shall deliver a LIBOR Loan request no later than noon Chicago, Illinois time at least three (3) Business Days in advance of the proposed conversion/continuation date. A LIBOR Loan request shall state and certify: (1) the proposed conversion/continuation date (which shall be a Business Day); (2) the amount of the Loan to be converted/continued; (3) the nature of the proposed conversion/continuation; (4) in the case of conversion to, or a continuation of, a LIBOR Loan, the requested Interest Period; and (5) that no Default or Event of Default has occurred and is continuing or would result from the proposed conversion/continuation. Once given, a LIBOR Loan request shall be irrevocable and Borrowers shall be bound thereby. Upon the expiration of an Interest Period, in the absence of a new LIBOR Loan request submitted to Agent not less than three (3) Business Days prior to the end of such Interest Period, the LIBOR Loan then maturing shall be automatically converted to a Base Rate Loan. There may be no more than nine (9) LIBOR Loans outstanding at any one time. Loans which are not the subject of a LIBOR Loan request shall be Base Rate Loans. Agent will notify Lenders, by telephonic or facsimile notice, of each LIBOR Loan request received by Agent not less than two (2) Business Days prior to the first day of the Interest Period of the LIBOR Loan requested thereby.

LIBOR Rate Election. All Loans made on On the ------------------- Closing Date shall be Restatement Effective Date, Borrower may request Base Rate Loans and shall remain so for three (3) daysor LIBOR Loans. ThereafterBorrower may request that Revolving Loans to be made be LIBOR Loans, subject to that outstanding portions of the provisions of subsection 1.2(A), Borrower Representative shall have the option ---------- ------ to (1) convert at any time all or any part of outstanding Term Loans equal to $2,500,000 and integral multiples of $250,000 in excess of that amount from Base Rate Loans be converted to LIBOR Loans or (2) upon the expiration of any Interest Period applicable to a LIBOR Loan, to (a) continue and that all or any portion of such a LIBOR Loan equal to $2,500,000 and integral multiplies of $250,000 in excess of that amount be continued as a LIBOR Loan or (b) convert all or any portion upon expiration of the applicable Interest Period. Any such LIBOR Loan to a Base Rate Loan. Borrower Representative shall deliver request will be made by submitting a LIBOR Loan request no later than noon Chicago, Illinois time at least three (3) Business Days in advance of the proposed conversion/continuation date. A LIBOR Loan request shall state and certify: (1) the proposed conversion/continuation date (which shall be a Business Day); (2) the amount of the Loan to be converted/continued; (3) the nature of the proposed conversion/continuation; (4) in the case form of conversion to, or a continuation of, a LIBOR Loan, the requested Interest Period; and (5) that no Default or Event of Default has occurred and is continuing or would result from the proposed conversion/continuationExhibit 1.2(G). Once given, a LIBOR Loan request shall be irrevocable and Borrowers Borrower shall be bound thereby. Upon the expiration of an Interest Period, in the absence of a new LIBOR Loan request submitted to Agent not less than three (3) Business Days prior to the end of such Interest PeriodPeriod (provided such prior notice may be less than three (3) Business Days with respect to LIBOR Loans borrowed on the Restatement Effective Date), the LIBOR Loan then maturing shall be automatically converted to a Base Rate Loan. There may be no more than nine six (96) LIBOR Loans outstanding at any one time. Loans which are not the subject of a LIBOR Loan request shall be Base Rate Loans. Agent will notify Lenders, by telephonic or facsimile notice, of each LIBOR Loan request received by Agent not less than two (2) Business Days prior to the first (1st) day of the Interest Period of the LIBOR Loan requested thereby.

LIBOR Rate Election. All Loans made on the ------------------- Closing Date shall be Base ------------------- Rate Loans and shall remain so for three (3) days. Thereafterand, subject to the provisions of subsection 1.2(A)1.2 regarding seven day LIBOR, remain so until completion of the Primary Syndication. Thereafter, Borrower Representative shall have may request that Revolving Loans be made as LIBOR Loans, that outstanding portions of Revolving Loans and the option ---------- ------ to (1) convert at any time all or any part of outstanding Loans equal to $2,500,000 and integral multiples of $250,000 in excess of that amount from Base Rate Loans Term Loan be converted to LIBOR Loans or (2) upon the expiration of any Interest Period applicable to a LIBOR Loan, to (a) continue and that all or any portion of such a LIBOR Loan equal to $2,500,000 and integral multiplies of $250,000 in excess of that amount be continued as a LIBOR Loan or (b) convert all or any portion upon expiration of the applicable Interest Period. Any such LIBOR Loan to a Base Rate Loan. Borrower Representative shall deliver request will be made by submitting a LIBOR Loan request no later than noon Chicago, Illinois time at least three (3) Business Days in advance of the proposed conversion/continuation date. A LIBOR Loan request shall state and certify: (1) the proposed conversion/continuation date (which shall be a Business Day); (2) the amount of the Loan to be converted/continued; (3) the nature of the proposed conversion/continuation; (4) in the case form of conversion to, or a continuation of, a LIBOR Loan, the requested Interest Period; and (5) that no Default or Event of Default has occurred and is continuing or would result from the proposed conversion/continuationExhibit 1.2(F). Once given, a LIBOR Loan request shall be irrevocable and Borrowers Borrower shall be bound thereby. Upon the expiration of an Interest Period, in the absence of a new LIBOR Loan request submitted to Agent not less than three (3) Business Days prior to the end of such Interest Period, the LIBOR Loan then maturing shall be automatically converted to a Base Rate Loan. There may be no more than nine eight (9) 8) LIBOR Loans outstanding at any one time. Revolving Loans which are not the subject of a LIBOR Loan request shall be Base Rate Loans. Agent will notify Lenders, by telephonic or facsimile notice, of each LIBOR Loan request received by Agent not less than two (2) Business Days prior to the first day of the Interest Period of the LIBOR Loan requested thereby.

LIBOR Rate Election. All Loans made on the ------------------- Closing Date shall be ------------------- Base Rate Loans and shall remain so until the earlier of ten (10) days after the Closing Date or completion of the primary syndication of the credit facilities. If the primary syndication of the credit facilities is not complete by the tenth day after the Closing Date, then Parent, on behalf of Borrowers, may not select an Interest Period for three a LIBOR Loan which is longer than one month prior to the earlier of ninety (390) daysdays after the Closing Date or the date Agent notifies Borrowers, that it has completed such primary syndication. Thereafter, subject Parent, on behalf of Borrowers may request that Revolving Loans to be made be LIBOR Loans, that outstanding portions of Revolving Loans and the provisions of subsection 1.2(A), Borrower Representative shall have the option ---------- ------ to (1) convert at any time all or any part of outstanding Loans equal to $2,500,000 and integral multiples of $250,000 in excess of that amount from Base Rate Loans Term Loan be converted to LIBOR Loans or (2) upon the expiration of any Interest Period applicable to a LIBOR Loan, to (a) continue and that all or any portion of such a LIBOR Loan equal to $2,500,000 and integral multiplies of $250,000 in excess of that amount be continued as a LIBOR Loan or (b) convert all or any portion upon expiration of the applicable Interest Period. Any such LIBOR Loan to a Base Rate Loan. Borrower Representative shall deliver request will be made by Parent submitting a LIBOR Loan request no later than noon Chicago, Illinois time at least three (3) Business Days in advance of the proposed conversion/continuation date. A LIBOR Loan request shall state and certify: (1) the proposed conversion/continuation date (which shall be a Business Day); (2) the amount of the Loan to be converted/continued; (3) the nature of the proposed conversion/continuation; (4) in the case form of conversion to, or a continuation of, a LIBOR Loan, the requested Interest Period; and (5) that no Default or Event of Default has occurred and is continuing or would result from the proposed conversion/continuationExhibit 1.2(G). Once given, a LIBOR Loan request shall be irrevocable and Borrowers shall be bound thereby. Upon the expiration of an Interest Period, in the absence of a new LIBOR Loan request submitted to Agent not less than three (3) Business Days prior to the end of such Interest Period, the LIBOR Loan then maturing shall be automatically converted to a Base Rate Loan. There may be no more than nine six (96) LIBOR Loans outstanding at any one time. Loans which are not the subject of a LIBOR Loan request shall be Base Rate Loans. Agent will notify Lenders, by telephonic or facsimile notice, of each LIBOR Loan request received by Agent not less than two (2) Business Days prior to the first day of the Interest Period of the LIBOR Loan requested thereby.