Common use of Limitation of Requests and Elections Clause in Contracts

Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, if, upon receiving a request for a Eurodollar Rate Borrowing pursuant to Section 2.4, or A request for a continuation of a Eurodollar Rate Borrowing as a Eurodollar Rate Borrowing or a request for a conversion of a Floating Rate Loan to a Eurodollar Rate Loan pursuant to Section 2.7 or a request for a conversion of a Loan denominated in a Permitted Currency to a Loan denominated in another Permitted Currency, (a) (i) deposits in the relevant Permitted Currency for periods comparable to the Eurodollar Interest Period elected by the Company are not available to any Bank in the relevant interbank market, or (ii) the Eurodollar Rate will not adequately and fairly reflect the cost to any Bank of making, funding or maintaining the related Eurodollar Rate Borrowing or (iii) by reason of national or (b) except with respect to Eurocurrency Loans denominated in a Permitted Currency other than Dollars, the Adjusted Tangible Net Worth does not exceed $30,000,000 and the Interest Coverage Ratio, as calculated for the period consisting of the four most recently ended consecutive fiscal quarters of the Company, is not greater than 5.0 to 1.0, then the Company shall not be entitled, so long as such circumstances continue, to request a Eurodollar Rate Borrowing of the affected type pursuant to Section 2.4 or a continuation of or conversion to a Eurodollar Rate Borrowing of the affected type pursuant to Section 2.7. In the event that such circumstances no longer exist, the Banks shall again consider requests for Eurodollar Rate Borrowings of the affected type pursuant to Section 2.4, and requests for continuations of and conversions to Eurodollar Rate Borrowings of the affected type pursuant to Section 2.7.