Common use of No Successor Rate Clause in Contracts

No Successor Rate. If, at the end of any Interest Period, relevant interest payment date or payment period for interest calculated, no Term SOFR Successor Rate or Successor Rate has been determined in accordance with clauses (c), (d) or (e) of this Section 3.03 and the circumstances under clauses (c)(i) or (c)(iii) above exist or the Scheduled Unavailability Date has occurred (as applicable), the Administrative Agent will promptly so notify the Company and each Lender. Thereafter, (x) the obligation of the Lenders to make or maintain Eurocurrency Rate Loans, Term SOFR Loans and XXXXX Rate Loans shall be suspended, (to the extent of the affected Eurocurrency Rate Loans, Term SOFR Loans and XXXXX Rate Loans, Interest Periods, interest payment dates or payment periods), and (y) the Term SOFR component shall no longer be utilized in determining the Base Rate, until the applicable Term SOFR Successor Rate has been determined in accordance with clauses (c), (d) or (e). Upon receipt of such notice with respect to Term SOFR Loans, the applicable Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of Term SOFR Loans (to the extent of the affected Term SOFR Loans, Interest Periods, interest payment dates or payment periods) or, failing that, will be deemed to have converted such request into a request for a Borrowing of Base Rate Loans (subject to the foregoing clause (y)) in the amount specified therein. Upon receipt of such notice with respect to Eurocurrency Rate Loans or XXXXX Rate Loans, (i) the applicable Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of Eurocurrency Rate Loans or XXXXX Rate Loans in each such affected Alternative Currency (to the extent of the affected Eurocurrency Rate Loans, XXXXX Rate Loans or Interest Periods) or, failing that, will be deemed to have converted each such request into a request for a Borrowing of Base Rate Loans denominated in Dollars in the Dollar Equivalent of the amount specified therein and (ii) any outstanding affected XXXXX Rate Loans or Eurocurrency Rate Loans denominated in an Alternative Currency, at the Company’s election, shall either (1) be converted into a Borrowing of Base Rate Loans denominated in Dollars in the Dollar Equivalent of the amount of such outstanding XXXXX Rate Loan or Eurocurrency Rate Loan at the end of the applicable Interest Period or (2) be prepaid at the end of the applicable Interest Period in full; provided that if no election is made by the Company by the earlier of (x) the date that is three Business Days after receipt by the Company of such notice and (y) the last day of the current Interest Period for the applicable XXXXX Rate Loan or Eurocurrency Rate Loan, the Company shall be deemed to have elected clause (1) above.

No Successor Rate. If, at the end of any Interest Period, relevant interest payment date or payment period for interest calculated, no Term SOFR LIBOR Successor Rate or Successor Rate has been determined in accordance with clauses (c), (d) or (e) of this Section 3.03 and the circumstances under clauses (c)(i) or (c)(iii) above exist or the Scheduled Unavailability Date has occurred (as applicable), the Administrative Agent will promptly so notify the Company and each Lender. Thereafter, (x) the obligation of the Lenders to make or maintain Eurocurrency Rate Loans, Term SOFR XXXXX Rate Loans and XXXXX LIBOR Daily Floating Rate Loans shall be suspended, (to the extent of the affected Eurocurrency Rate Loans, Term SOFR Loans and XXXXX Rate Loans, LIBOR Daily Floating Rate Loans, Interest Periods, interest payment dates or payment periods), and (y) the Term SOFR Eurocurrency Rate component shall no longer be utilized in determining the Base Rate, until the applicable Term SOFR LIBOR Successor Rate or Successor Rate has been determined in accordance with clauses (c), (d) or (e). ) Upon receipt of such notice with respect to Term SOFR Dollar denominated Eurocurrency Rate Loans, the applicable Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of Term SOFR Eurocurrency Rate Loans and LIBOR Daily Floating Rate Loans (to the extent of the affected Term SOFR Eurocurrency Rate Loans, Interest Periods, interest payment dates or payment periods) or, failing that, will be deemed to have converted such request into a request for a Borrowing of Base Rate Loans (subject to the foregoing clause (y)) in the amount specified therein. Upon receipt of such notice with respect to non-Dollar denominated Eurocurrency Rate Loans or XXXXX Rate Loans, (i) the applicable Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of Eurocurrency Rate Loans or XXXXX Rate Loans in each such affected Alternative Currency (to the extent of the affected Eurocurrency Rate Loans, XXXXX Rate Loans or Interest Periods) or, failing that, will be deemed to have converted each such request into a request for a Borrowing of Base Rate Loans denominated in Dollars in the Dollar Equivalent of the amount specified therein and (ii) (A) any outstanding affected Eurocurrency Rate Loans denominated in Dollars will be deemed to have been converted into Base Rate Loans at the end of the applicable Interest Period and (B) any outstanding affected XXXXX Rate Loans or Eurocurrency Rate Loans denominated in an Alternative Currency, at the Company’s election, shall either (1) be converted into a Borrowing of Base Rate Loans denominated in Dollars in the Dollar Equivalent of the amount of such outstanding XXXXX Rate Loan or Eurocurrency Rate Loan at the end of the applicable Interest Period or (2) be prepaid at the end of the applicable Interest Period in full; provided that if no election is made by the Company by the earlier of (x) the date that is three Business Days after receipt by the Company of such notice and (y) the last day of the current Interest Period for the applicable XXXXX Rate Loan or Eurocurrency Rate Loan, the Company shall be deemed to have elected clause (1) above.

No Successor Rate. If, at the end of any Interest Period, relevant interest payment date or payment period for interest calculated, no Term SOFR Successor Rate or Successor Rate has been determined in accordance with clauses (c), (d) or (e) of this Section 3.03 and the circumstances under clauses (c)(i) or (c)(iii) above exist or the Scheduled Unavailability Date has occurred (as applicable), the Administrative Agent will promptly so notify the Company and each Lender. Thereafter, (x) the obligation of the Lenders to make or maintain Eurocurrency Rate Loans, Term SOFR Loans and XXXXX Rate Loans shall be suspended, (to the extent of the affected Eurocurrency Rate Loans, Term SOFR Loans and XXXXX Rate Loans, Interest Periods, interest payment dates or payment periods), and (y) the Term SOFR component shall no longer be utilized in determining the Base Rate, until the applicable Term SOFR Successor Rate has been determined in accordance with clauses (c), (d) or (e). Upon receipt of such notice with respect to Term SOFR Loans, the applicable Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of Term SOFR Loans (to the extent of the affected Term SOFR Loans, Interest Periods, interest payment dates or payment periods) or, failing that, will be deemed to have converted such request into a request for a Borrowing of Base Rate Loans (subject to the foregoing clause (y)) in the amount specified therein. Upon receipt of such notice with respect to Eurocurrency Rate Loans or XXXXX Rate Loans, (i) the applicable Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of Eurocurrency Rate Loans or XXXXX Rate Loans in each such affected Alternative Currency (to the extent of the affected Eurocurrency Rate Loans, XXXXX Rate Loans or Interest Periods) or, failing that, will be deemed to have converted each such request into a request for a Borrowing of Base Rate Loans denominated in Dollars in the Dollar Equivalent of the amount specified therein and (ii) any outstanding affected XXXXX Rate Loans or Eurocurrency Rate Loans denominated in an Alternative Currency, at the Company’s election, shall either (1) be converted into a Borrowing of Base Rate Loans denominated in Dollars in the Dollar Equivalent of the amount of such outstanding XXXXX Rate Loan or Eurocurrency Rate Loan at the end of the applicable Interest Period or (2) be prepaid at the end of the applicable Interest Period in full; provided that if no election is made by the Company by the earlier of (x) the date that is three Business Days after receipt by the Company of such notice and (y) the last day of the current Interest Period for 118 the applicable XXXXX Rate Loan or Eurocurrency Rate Loan, the Company shall be deemed to have elected clause (1) above.

No Successor Rate. If, at the end of any Interest Period, relevant interest payment date or payment period for interest calculated, no Term SOFR LIBOR Successor Rate or Successor Rate has been determined in accordance with clauses (c), (db) or (ec) of this Section 3.03 and the circumstances under clauses (c)(ib)(i) or (c)(iiib)(iii) above exist or the Scheduled Unavailability Date has occurred (as applicable), the Administrative Agent will promptly so notify the Company Borrower and each Lender. Thereafter, (x) the obligation of the Lenders to make or maintain EurodollarEurocurrency Rate Loans or Floating Eurocurrency Rate Loans, Term SOFR Loans and XXXXX Rate Loans shall be suspended, (to the extent of the affected Eurocurrency EurodollarEurocurrency Rate Loans, Term SOFR Loans and XXXXX Floating Eurocurrency Rate Loans, Interest Periods, interest payment dates or payment periods), and (y) the Term SOFR EurodollarEurocurrency Rate component shall no longer be utilized in determining the Base Rate, until the applicable Term SOFR LIBOR Successor Rate or Successor Rate, as applicable, has been determined in accordance with clauses (c), (db) or (ec). Upon receipt of such notice with respect to Term SOFR Dollar-denominated Eurocurrency Rate Loans or Floating Eurocurrency Rate Loans, the applicable Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of Term SOFR EurodollarEurocurrency Rate Loans or Floating Eurocurrency Rate Loans (to the extent of the affected Term SOFR EurodollarEurocurrency Rate Loans, Floating Eurocurrency Rate Loans, Interest Periods, interest payment dates or payment periods) or, failing that, will be deemed to have converted such request into a request for a Borrowing of Base Rate Loans (subject to the foregoing clause (y)) in the amount specified therein. Upon receipt of such notice with respect to non-Dollar-denominated Eurocurrency Rate Loans or XXXXX Rate Loans, (i) the applicable Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of Eurocurrency Rate Loans or XXXXX Rate Loans in each such affected Alternative non-Dollar LIBOR Quoted Currency (to the extent of the affected Eurocurrency Rate Loans, XXXXX Rate Loans or Interest Periods) or, failing that, will be deemed to have converted each such request into a request for a Borrowing of Base Rate Loans denominated in Dollars in the Dollar Equivalent of the amount specified therein and (ii) (A) any outstanding affected XXXXX Eurocurrency Rate Loans or denominated in Dollars will be deemed to have been converted into Base Rate Loans at the end of the applicable Interest Period and (B) any outstanding affected Eurocurrency Rate Loans denominated in an Alternative Currency, at the CompanyBorrower’s election, shall either (1) be converted into a Borrowing of Base Rate Loans denominated in Dollars in the Dollar Equivalent of the amount of such outstanding XXXXX Rate Loan or Eurocurrency Rate Loan at the end of the applicable Interest Period or (2) be prepaid at the end of the applicable Interest Period in full; provided that if no election is made by the Company Borrower by the earlier of (x) the date that is three Business Days after receipt by the Company Borrower of such notice and (y) the last day of the current Interest Period for the applicable XXXXX Rate Loan or Eurocurrency Rate Loan, the Company Borrower shall be deemed to have elected clause (1) above.

No Successor Rate. If, at the end of any Interest Period, relevant interest payment date or payment period for interest calculated, no Term SOFR LIBOR Successor Rate or Successor Rate has been determined in accordance with clauses (c), (db) or (ec) of this Section 3.03 and the circumstances under clauses (c)(ib)(i) or (c)(iiib)(iii) above exist or the Scheduled Unavailability Date has occurred (as applicable), the Administrative Agent will promptly so notify the Company Borrower and each Lender. Thereafter, (x) the obligation of the Lenders to make or maintain Eurocurrency Rate Loans, Term SOFR Loans and XXXXX or Floating Eurocurrency Rate Loans shall be suspended, suspended (to the extent of the affected Eurocurrency Rate Loans, Term SOFR Loans and XXXXX Floating Eurocurrency Rate Loans, Interest Periods, interest payment dates or payment periods), and (y) the Term SOFR Eurocurrency Rate component shall no longer be utilized in determining the Base Rate, until the applicable Term SOFR LIBOR Successor Rate or Successor Rate, as applicable, has been determined in accordance with clauses (c), (db) or (ec). Upon receipt of such notice with respect to Term SOFR Dollar-denominated Eurocurrency Rate Loans or Floating Eurocurrency Rate Loans, the applicable Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of Term SOFR Eurocurrency Rate Loans or Floating Eurocurrency Rate Loans (to the extent of the affected Term SOFR Eurocurrency Rate Loans, Floating Eurocurrency Rate Loans, Interest Periods, interest payment dates or payment periods) or, failing that, will be deemed to have converted such request into a request for a Borrowing of Base Rate Loans (subject to the foregoing clause (y)) in the amount specified therein. Upon receipt of such notice with respect to non-Dollar-denominated Eurocurrency Rate Loans or XXXXX Rate Loans, (i) the applicable Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of Eurocurrency Rate Loans or XXXXX Rate Loans in each such affected Alternative non-Dollar LIBOR Quoted Currency (to the extent of the affected Eurocurrency Rate Loans, XXXXX Rate Loans or Interest Periods) or, failing that, will be deemed to have converted each such request into a request for a Borrowing of Base Rate Loans denominated in Dollars in the Dollar Equivalent of the amount specified therein and (ii) (A) any outstanding affected XXXXX Eurocurrency Rate Loans or denominated in Dollars will be deemed to have been converted into Base Rate Loans at the end of the applicable Interest Period and (B) any outstanding affected Eurocurrency Rate Loans denominated in an Alternative Currency, at the CompanyBorrower’s election, shall either (1) be converted into a Borrowing of Base Rate Loans denominated in Dollars in the Dollar Equivalent of the amount of such outstanding XXXXX Rate Loan or Eurocurrency Rate Loan at the end of the applicable Interest Period or (2) be prepaid at the end of the applicable Interest Period in full; provided that if no election is made by the Company Borrower by the earlier of (x) the date that is three Business Days after receipt by the Company Borrower of such notice and (y) the last day of the current Interest Period for the applicable XXXXX Rate Loan or Eurocurrency Rate Loan, the Company Borrower shall be deemed to have elected clause (1) above.