Common use of Limitations on Interest Election Requests Clause in Contracts

Limitations on Interest Election Requests. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as an Event of Default is continuing (i) no outstanding Borrowing may be converted to or continued as a Fixed Rate Borrowing (except Fixed Rate Borrowings denominated in any Available Currency other than dollars may be continued as Fixed Rate Borrowings with Interest Periods of seven days’ duration) and (ii) unless repaid, each dollar denominated Fixed Rate Borrowing shall be converted to an ABR Borrowing at the end of the Interest Period applicable thereto. A Borrowing denominated in one Available Currency may not be converted into another Available Currency.

Limitations on Interest Election Requests. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as an Event of Default is continuing (i) no outstanding Borrowing may be converted to or continued as a Fixed Rate Borrowing (except Fixed Rate Swingline Borrowings denominated in any Available Currency other than dollars may be continued as Fixed Rate Swingline Borrowings with Interest Periods of seven days’ duration) and (ii) unless repaid, each dollar denominated Fixed Rate Revolving Borrowing shall be converted to an ABR Borrowing at the end of the Interest Period applicable thereto. A Borrowing denominated in one Available Currency may not be converted into another Available Currency.

Limitations on Interest Election Requests. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as an Event of Default is continuing (i) no outstanding Borrowing may be converted to or continued as a Fixed Rate Borrowing (except Fixed Rate Borrowings denominated in any Available Major Currency other than dollars may be continued as Fixed Rate Borrowings with Interest Periods of seven days’ duration) and (ii) unless repaid, each dollar denominated Fixed Rate Borrowing shall be converted to an ABR Borrowing at the end of the Interest Period applicable thereto. A Borrowing denominated in one Available Major Currency may not be converted into another Available Major Currency.

Limitations on Interest Election Requests. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as an Event of Default is continuing (i) no outstanding Borrowing may be converted to or continued as a Fixed Rate Borrowing (except Fixed Rate Borrowings denominated in any Available Major Currency other than dollars Dollars may be continued as Fixed Rate Borrowings with Interest Periods of seven days’ duration) and (ii) unless repaid, each dollar Dollar denominated Fixed Rate Borrowing shall be converted to an ABR Borrowing at the end of the Interest Period applicable thereto. A Borrowing denominated in one Available Major Currency may not be converted into another Available Major Currency.