Common use of Notice of Election to Adjust Interest Rate Clause in Contracts

Notice of Election to Adjust Interest Rate. The Borrower may elect: (i) That interest on a Variable Rate Advance shall be adjusted to accrue at the LIBOR Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days prior to the day (which shall be a Business Day) on which the Borrower requests that interest be adjusted to accrue at the LIBOR Rate. (ii) That interest on a LIBOR Advance shall continue to accrue at a newly quoted LIBOR Rate or shall be adjusted to commence to accrue at the Variable Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days prior to the last day of the LIBOR Interest Period pertaining to such LIBOR Advance. If the Bank shall not have received notice (as prescribed herein) of the Borrower’s election that interest on any LIBOR Advance shall continue to accrue at the newly quoted LIBOR Rate, the Borrower shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Variable Rate upon the expiration of the LIBOR Interest Period pertaining to such Advance.

Notice of Election to Adjust Interest Rate. The Borrower may elect: (i) That interest on a Variable Rate Advance shall be adjusted to accrue at the LIBOR Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days prior to the day (which shall be a Business Day) on which the Borrower requests that interest be adjusted to accrue at the LIBOR Rate. (ii) That interest on a LIBOR Advance shall continue to accrue at a newly quoted LIBOR Rate or shall be adjusted to commence to accrue at the Variable Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days prior to the last day of the LIBOR Interest Period pertaining to such LIBOR Advance. If the Bank shall not have received notice (as prescribed herein) of the Borrower’s 's election that interest on any LIBOR Advance shall continue to accrue at the newly quoted LIBOR Rate, the Borrower shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Variable Rate upon the expiration of the LIBOR Interest Period pertaining to such Advance.

Notice of Election to Adjust Interest Rate. The Borrower may elect: (i) That interest on a Variable Rate Advance shall be adjusted to accrue at the LIBOR Rate; provided, however, that such notice to continue to accrue at the LIBOR Rate shall be received by the Bank no later than two (2) LIBOR Business Days prior to the day (which shall be a Business Day) on which the Borrower requests that interest be adjusted to accrue at the LIBOR Rate. (ii) That interest on a LIBOR Advance shall continue to accrue at a newly quoted LIBOR Rate or shall be adjusted to commence to accrue at the Variable Rate; provided, however, that such notice shall be received by the Bank no later than two (2) LIBOR Business Days prior to the last day of the LIBOR Interest Period pertaining to such LIBOR Advance. If the Bank shall not have received notice (as prescribed herein) of the Borrower’s 's election that interest on any LIBOR Advance shall continue to accrue at the newly quoted LIBOR Rate, the Borrower shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Variable Rate upon the expiration of the LIBOR Interest Period pertaining to such Advance.

Notice of Election to Adjust Interest Rate. The Borrower may elect: (i) That interest on a Variable Rate Advance shall be adjusted to accrue at the LIBOR Rate; provided, however, that such notice shall be received by the Bank no later than two (2) LIBOR Business Days prior to the day (which shall be a Business Day) on which the Borrower requests that interest be adjusted to accrue at the LIBOR Rate. (ii) That interest on a LIBOR Advance shall continue to accrue at a newly quoted LIBOR Rate or shall be adjusted to commence to accrue at the Variable Rate; provided, however, that such notice to continue to accrue at the LIBOR Rate shall be received by the Bank no later than two (2) LIBOR Business Days prior to the last day of the LIBOR Interest Period pertaining to such LIBOR Advance. If the Bank shall not have received notice (as prescribed herein) of the Borrower’s 's election that interest on any LIBOR Advance shall continue to accrue at the newly quoted LIBOR Rate, the Borrower shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Variable Rate upon the expiration of the LIBOR Interest Period pertaining to such Advance.

Notice of Election to Adjust Interest Rate. The Upon telephonic notice which shall be received by the Bank at or before 2:00 p.m. (California time) on a Business Day, the Borrower may elect: (ia) That interest on a Variable Rate Advance shall be adjusted to accrue at the LIBOR Fixed Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days business days prior to the day (which shall be a Business Daybusiness day) on which the Borrower requests that interest be adjusted to accrue at the LIBOR Fixed Rate. (iib) That interest on a LIBOR Fixed Rate Advance shall continue to accrue at a newly quoted LIBOR Fixed Rate or shall be adjusted to commence to accrue at the Variable Rate; provided, provided however, that such notice shall be received by the Bank no later than two Business Days business days prior to the last day of the LIBOR Interest Period pertaining to such LIBOR Fixed Rate Advance. If the Bank shall not have received notice (as prescribed herein) herein of the Borrower’s 's election that interest on any LIBOR Fixed Rate Advance shall continue to accrue at the newly quoted LIBOR Fixed Rate, the Borrower shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Variable Rate upon the expiration of the LIBOR Interest Period pertaining to such Advance.

Notice of Election to Adjust Interest Rate. The Borrower may elect: (i) That interest on a Variable Rate Advance shall be adjusted to accrue at the LIBOR Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days prior to the day (which shall be a Business Day) on which the Borrower requests that interest be adjusted to accrue at the LIBOR Rate. (ii) That interest on a LIBOR Advance shall continue to accrue at a newly quoted LIBOR Rate or shall be adjusted to commence to accrue at the Variable Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days prior to the last day of the LIBOR Interest Period pertaining to such LIBOR Advance. If the Bank shall not have received notice (as prescribed herein) of the Borrower’s Borrowers election that interest on any LIBOR Advance shall continue to accrue at the newly quoted LIBOR Rate, the Borrower shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Variable Rate upon the expiration of the LIBOR Interest Period pertaining to such Advance.

Notice of Election to Adjust Interest Rate. The Upon telephonic notice which shall be received by the Bank at or before 11:00 a.m. (California time) on a business day, any Borrower may elect: (i) 1. That interest on a Variable Rate Advance shall be adjusted to accrue at the LIBOR Fixed Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days business days prior to the day (which shall be a Business Daybusiness day) on which the such Borrower requests that interest be adjusted to accrue at the LIBOR Fixed Rate. (ii) 2. That interest on a LIBOR Fixed Rate Advance shall continue to accrue at a newly quoted LIBOR Fixed Rate or shall be adjusted to commence to accrue at the Variable Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days prior to the last day of the LIBOR Interest Period pertaining to such LIBOR Fixed Rate Advance. If the Bank shall not have received notice (as prescribed herein) of the such Borrower’s 's election that interest on any LIBOR Fixed Rate Advance shall continue to accrue at the newly quoted LIBOR Fixed Rate, the relevant Borrower shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Variable Rate upon the expiration of the LIBOR Interest Period pertaining to such Advance.

Notice of Election to Adjust Interest Rate. The Upon telephonic notice which shall be received by the Bank at or before 11:00 a.m. (California time) on a business day, the Borrower may elect: (i1) That interest on a Variable Rate Advance Balance shall be adjusted to accrue at the LIBOR Fixed Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days business days prior to the day (which shall be a Business Daybusiness day) on which the Borrower requests that interest be adjusted to accrue at the LIBOR Fixed Rate. (ii2) That interest on a LIBOR Advance Fixed Rate Balance shall continue to accrue at a newly quoted LIBOR Fixed Rate or shall be adjusted to commence to accrue at the Variable Rate; provided, however, however that such notice shall be received by the Bank no later than two Business Days business days prior to the last day of the LIBOR Interest Period pertaining to such LIBOR AdvanceFixed Rate Balance. If the Bank shall not have received notice (as prescribed herein) herein of the Borrower’s 's election that interest on any LIBOR Advance Fixed Rate Balance shall continue to accrue at the newly quoted LIBOR Fixed Rate, the Borrower shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Variable Rate upon the expiration of the LIBOR Interest Period pertaining to such AdvanceTerm Balance.

Notice of Election to Adjust Interest Rate. The Upon telephonic notice which shall be received by the Bank at or before 2:00 p.m. (California time) on a business day, the Borrower may elect: (i1) That interest on a Variable Rate Advance Balance shall be adjusted to accrue accrued at the LIBOR Fixed Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days business days prior to the day (which shall be a Business Daybusiness day) on which the Borrower requests that interest be adjusted to accrue at the LIBOR Fixed Rate. (ii2) That interest on a LIBOR Advance Fixed Rate Balance shall continue to accrue at a newly quoted LIBOR Fixed Rate or shall be adjusted to commence to accrue at the Variable Rate; provided, however, however that such notice shall be received by the Bank no later than two Business Days business days prior to the last day of the LIBOR Interest Period pertaining to such LIBOR AdvanceFixed Rate Balance. If the Bank shall not have received notice (as prescribed herein) herein of the Borrower’s 's election that interest on any LIBOR Advance Fixed Rate Balance shall continue to accrue at the newly quoted LIBOR Fixed Rate, the Borrower shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Variable Rate upon the expiration of the LIBOR Interest Period pertaining to such AdvanceTerm Balance.

Notice of Election to Adjust Interest Rate. The Borrower may elect: (i) 1. That interest on a Variable Rate Advance shall be adjusted to accrue at the LIBOR Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days business days prior to the day (which shall be a Business Daybusiness day) on which the Borrower requests that interest be adjusted to accrue at the LIBOR Rate. (ii) 2. That interest on a LIBOR Advance shall continue to accrue at a newly quoted LIBOR Rate or shall be adjusted to commence to accrue at the Variable Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days business days prior to the last day of the LIBOR Interest Period pertaining to such LIBOR Advance. If the Bank shall not have received notice (as prescribed herein) of the Borrower’s 's election that interest on any LIBOR Advance shall continue to accrue at the newly quoted LIBOR Rate, the Borrower shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Variable Rate upon the expiration of the LIBOR Interest Period pertaining to such Advance.

Notice of Election to Adjust Interest Rate. The Borrower Borrowers may elect: (i) 1. That interest on a Stock Variable Rate Advance shall be adjusted to accrue at the LIBOR Stock Fixed Rate; , provided, however, that such notice shall be received by the Bank no later than two 2:00 p.m. on the Business Days prior to the day (which shall be a Business Day) Day on which the such Borrower requests that interest be adjusted to accrue at the LIBOR Stock Fixed Rate. (ii) 2. That interest on a LIBOR Stock Fixed Rate Advance shall continue to accrue at a newly quoted LIBOR Stock Fixed Rate or shall be adjusted to commence to accrue at the Stock Variable Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days prior to 2:00 p.m. on the last day of the LIBOR Stock Interest Period pertaining to such LIBOR Stock Fixed Rate Advance. If the Bank shall not have received notice (as prescribed herein) of the any Borrower’s 's election that interest on any LIBOR Stock Fixed Rate Advance shall continue to accrue at the newly quoted LIBOR Rate, the Stock Fixed Rate such Borrower shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Stock Variable Rate upon the expiration of the LIBOR Stock Interest Period pertaining to such Advance.

Notice of Election to Adjust Interest Rate. The Borrower may elect: (i) That interest on a Variable Rate Advance shall be adjusted to accrue at the LIBOR Rate; provided, however, that such notice shall be received by the Bank no later than two (2) LIBOR Business Days prior to the day (which shall be a Business Day) on which the Borrower requests that interest be adjusted to accrue at the LIBOR Rate. (ii) That interest on a LIBOR Advance shall continue to accrue at a newly quoted LIBOR Rate or shall be adjusted to commence to accrue at the Variable Rate; provided, however, that such notice to continue to accrue at the LIBOR Rate shall be received by the Bank no later than two two(2) LIBOR Business Days prior to the last day of the LIBOR Interest Period pertaining to such LIBOR Advance. If the Bank shall not have received notice (as prescribed herein) of the Borrower’s 's election that interest on any LIBOR Advance shall continue to accrue at the newly quoted LIBOR Rate, the Borrower shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Variable Rate upon the expiration of the LIBOR Interest Period pertaining to such Advance.

Notice of Election to Adjust Interest Rate. The Upon telephonic notice which shall be received by the Bank at or before 12:00 p.m. (California time) on a business day, the Borrower may elect: (ia) That interest on a Variable Rate Advance shall be adjusted to accrue at the LIBOR Eurodollar Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days business days prior to the day (which shall be a Business Daybusiness day) on which the Borrower requests that interest be adjusted to accrue at the LIBOR Eurodollar Rate. (iib) That interest on a LIBOR Eurodollar Advance shall continue to accrue at a newly quoted LIBOR Eurodollar Rate or shall be adjusted to commence commerce to accrue at the Variable Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days business days prior to the last day of the LIBOR Interest Period pertaining to such LIBOR Eurodollar Advance. If the Bank shall not have received notice (as prescribed herein) of the Borrower’s 's election that interest on any LIBOR Eurodollar Advance shall continue to accrue at the newly quoted LIBOR Eurodollar Rate, the Borrower shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Variable Rate upon the expiration of the LIBOR Interest Period pertaining to such Advance.

Notice of Election to Adjust Interest Rate. The Borrower may elect: (i) 1. That interest on a Variable Rate Advance shall be adjusted to accrue at the LIBOR Fixed Rate or the Eurodollar Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days prior to the same business day as the day (which shall be a Business Daybusiness day) on which the Borrower requests that interest be adjusted to accrue at the LIBOR Fixed Rate. (ii) 2. That interest on a LIBOR Fixed Rate Advance or Eurodollar Advance shall continue to accrue at a newly quoted LIBOR Fixed Rate or Eurodollar Rate or shall be adjusted to commence to accrue at the Variable Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days business days prior to the last day of the LIBOR Interest Period pertaining to such LIBOR Fixed Rate Advance. If the Bank shall not have received notice (as prescribed herein) of the Borrower’s 's election that interest on any LIBOR Fixed Rate Advance or Eurodollar Rate shall continue to accrue at the newly quoted LIBOR Rate, Fixed Rate or Eurodollar Rate as the case may be the Borrower shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Variable Rate upon the expiration of the LIBOR relevant Interest Period or Eurodollar Interest Period 4 - pertaining to such Advance.

Notice of Election to Adjust Interest Rate. The Upon telephonic notice which shall be received by the Bank at or before 2:00 p.m. (California time) on a business day, the Borrower may elect: (ia) That interest on a Variable Rate Advance shall be adjusted to accrue accrued at the LIBOR Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days business days prior to the day (which shall be a Business Daybusiness day) on which the Borrower requests that interest be adjusted to accrue at the LIBOR Rate. (iib) That interest on a LIBOR Rate Advance shall continue to accrue at a newly quoted LIBOR Rate as the case may be or shall be adjusted to commence to accrue at the Variable Rate; provided, --------- however, that such notice shall be received by the Bank no later --------- than two Business Days business days prior to the last day of the LIBOR Interest Period pertaining to such LIBOR Rate Advance, as applicable. If the Bank shall not have received notice (as prescribed herein) herein of the Borrower’s 's election that interest on any LIBOR Rate Advance shall continue to accrue at the newly quoted LIBOR Rate, the Borrower shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Variable Rate upon the expiration of the LIBOR Interest Period pertaining to such Advancethereto.

Notice of Election to Adjust Interest Rate. The Borrower may elect: (i) That interest on a Variable Rate Advance shall be adjusted to accrue at the LIBOR Fixed Rate; provided, however, that such notice shall be received by the Bank no later than two 2:00 p.m. on the Business Days prior to the day (which shall be a Business Day) Day on which the Borrower requests that interest be adjusted to accrue at the LIBOR Fixed Rate. (ii) That interest on a LIBOR Fixed Rate Advance shall continue to accrue at a newly quoted LIBOR Fixed Rate or shall be adjusted to commence to accrue at the Variable Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days prior to 2:00 p.m. on the last day of the LIBOR Interest Period pertaining to such LIBOR Fixed Rate Advance. If the Bank shall not have received notice (as prescribed herein) of the Borrower’s 's election that interest on any LIBOR Fixed Rate Advance shall continue to accrue at the newly quoted LIBOR Rate, Fixed Rate the Borrower shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Variable Rate upon the expiration of the LIBOR Interest Period pertaining to such Advance.

Notice of Election to Adjust Interest Rate. The Borrower Borrowers may elect: (i) 1. That interest on a Variable Rate Advance shall be adjusted to accrue at the LIBOR Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days prior to the day (which shall be a Business Day) on which the any Borrower requests that interest be adjusted to accrue at the LIBOR Rate. (ii) 2. That interest on a LIBOR Advance shall continue to accrue at a newly quoted LIBOR Rate or shall be adjusted to commence to accrue at the Variable Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days prior to the last day of the LIBOR Interest Period pertaining to such LIBOR Advance. If the Bank shall not have received notice (as prescribed herein) of the any Borrower’s 's election that interest on any LIBOR Advance shall continue to accrue at the newly quoted LIBOR Rate, the such Borrower shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Variable Rate upon the expiration of the LIBOR Interest Period pertaining to such Advance.

Notice of Election to Adjust Interest Rate. The Borrower may elect: (i) That interest on a Variable an Alternate Base Rate Advance shall be adjusted to accrue at the a LIBOR Advance Rate; provided, however, that such notice shall be received by the Bank Agent no later than two 11:00 a.m. (Pacific Time) three (3) Business Days prior to the day (which shall be a Business Day) on which the Borrower requests that interest be adjusted to accrue at the as a LIBOR RateAdvance. Promptly after receiving any such notice, Agent shall notify each Lender thereof. (ii) That interest on a LIBOR Advance shall continue to accrue at based on a newly quoted LIBOR Rate or shall be adjusted to commence to accrue at the Variable Rateas an Alternate Base Rate Advance; provided, however, that such notice shall be received by the Bank Agent no later than two 11:00 a.m. (Pacific Time) three (3) Business Days prior to the last day of the LIBOR Interest Period pertaining to such LIBOR Advance. If the Bank Agent shall not have received notice (as prescribed herein) of the Borrower’s election that interest on any LIBOR Advance shall continue to accrue at based on the newly quoted LIBOR Rate, the Borrower shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Variable as an Alternate Base Rate Advance upon the expiration of the LIBOR Interest Period pertaining to such LIBOR Advance. Promptly after receiving any such notice, Agent shall notify each Lender thereof.

Notice of Election to Adjust Interest Rate. The Upon telephonic notice which shall be received by the Bank at or before 2:00 p.m. (California time) on a business day, the Borrower may elect: (i) 1. That interest on a Variable Rate Advance shall be adjusted to accrue at the LIBOR Eurodollar Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days business days prior to the day (which shall be a Business Daybusiness day) on which the Borrower requests that interest be adjusted to accrue at the LIBOR Eurodollar Rate. (ii) 2. That interest on a LIBOR Eurodollar Advance shall continue to accrue at a newly quoted LIBOR Eurodollar Rate or shall be adjusted to commence to accrue at the Variable Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days business days prior to the last day of the LIBOR Eurodollar Interest Period pertaining to such LIBOR Eurodollar Advance. If the Bank shall not have received notice (as prescribed herein) of the Borrower’s 's election that interest on any LIBOR Eurodollar Advance shall continue to accrue at the newly quoted LIBOR Eurodollar Rate, the Borrower shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Variable Rate upon the expiration of the LIBOR Interest Period pertaining to such Advance.

Notice of Election to Adjust Interest Rate. The Borrower may elect: (i) That interest on a Variable Rate Advance shall be adjusted to accrue at the LIBOR Fixed Rate; provided, however, that such notice shall be received by the Bank no later than two 2:00 p.m. on the Business Days prior to the day (which shall be a Business Day) Day on which the Borrower requests that interest be adjusted to accrue at the LIBOR Fixed Rate. (ii) That interest on a LIBOR Fixed Rate Advance shall continue to accrue at a newly quoted LIBOR Fixed Rate or shall be adjusted to commence to accrue at the Variable Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days prior to 2:00 p.m. on the last day of the LIBOR Interest Period pertaining to such LIBOR Fixed Rate Advance. If the Bank shall not have received notice (as prescribed herein) of the Borrower’s 's election that interest on any LIBOR Fixed Rate Advance shall continue to accrue at the newly quoted LIBOR Rate, Fixed Rate the Borrower shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Variable Rate upon the expiration of the LIBOR Interest Period pertaining to such Advance.

Notice of Election to Adjust Interest Rate. The Upon telephonic notice which shall be received by the Bank at or before 2:00 p.m. (California time) on a Business Day, the Borrower may elect: (ia) That interest on a Variable Rate Advance shall be adjusted to accrue at the LIBOR a quoted and offered Fixed Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days business days prior to the day (which shall be a Business Daybusiness day) on which the Borrower requests that interest be adjusted to accrue at the LIBOR Fixed Rate. (iib) That interest on a LIBOR Fixed Rate Advance shall continue to accrue at a newly quoted LIBOR Fixed Rate or shall be adjusted to commence to accrue at the Variable Rate; provided, provided however, that such notice shall be received by the Bank no later than two Business Days business days prior to the last day of the LIBOR Interest Period pertaining to such LIBOR Fixed Rate Advance. If the Bank shall not have received notice (as prescribed herein) herein of the Borrower’s 's election that interest on any LIBOR Fixed Rate Advance shall continue to accrue at the newly quoted LIBOR Fixed Rate, the Borrower shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Variable Rate upon the expiration of the LIBOR Interest Period pertaining to such Advance.

Notice of Election to Adjust Interest Rate. The Upon telephonic notice which shall be received by the Bank at or before 11:00 am (California time) on a Business Day, the Borrower may elect: (ia) That interest on a Variable Rate Advance shall be adjusted to accrue at the LIBOR a quoted and offered Fixed Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days business days prior to the day (which shall be a Business Daybusiness day) on which the Borrower requests that interest be adjusted to accrue at the LIBOR Fixed Rate. (iib) That interest on a LIBOR Fixed Rate Advance shall continue to accrue at a newly quoted LIBOR Fixed Rate or shall be adjusted to commence to accrue at the Variable Rate; provided, provided however, that such notice shall be received by the Bank no later than two Business Days business days prior to the last day of the LIBOR Interest Period pertaining to such LIBOR Fixed Rate Advance. If the Bank shall not have received notice (as prescribed herein) herein of the Borrower’s 's election that interest on any LIBOR Fixed Rate Advance shall continue to accrue at the newly quoted LIBOR Fixed Rate, the Borrower shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Variable Rate upon the expiration of the LIBOR Interest Period pertaining to such Advance.

Notice of Election to Adjust Interest Rate. The Borrower Borrowers may elect: (i) That interest on a Variable an Alternate Base Rate Advance shall be adjusted to accrue at the LIBOR Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days prior to the day (which shall be a Business Day) on which the Borrower requests Borrowers request that interest be adjusted to accrue at the LIBOR Rate. (ii) That interest on a LIBOR Advance shall continue to accrue at a newly quoted LIBOR Rate or shall be adjusted to commence to accrue at the Variable Alternate Base Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days prior to the last day of the LIBOR Interest Period pertaining to such LIBOR Advance. If the Bank shall not have received notice (as prescribed herein) of the Borrower’s Borrowers’ election that interest on any LIBOR Advance shall continue to accrue at the newly quoted LIBOR Rate, the Borrower Borrowers shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Variable Alternate Base Rate upon the expiration of the LIBOR Interest Period pertaining to such Advance.

Notice of Election to Adjust Interest Rate. The Borrower may elect: (i) That interest on a Variable Rate Advance shall be adjusted to accrue at the LIBOR Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days prior to the day (which shall be a Business Day) on which the Borrower requests that interest be adjusted to accrue at the LIBOR Rate. (ii) That interest on a LIBOR Advance shall continue to accrue at a newly quoted LIBOR Rate or shall be adjusted to commence to accrue at the Variable Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days prior to the last day of the LIBOR Interest Period pertaining to such LIBOR Advance. If the Bank shall not have received notice (as prescribed herein) of the Borrower’s 's election that interest on any LIBOR Advance shall continue commence to accrue at the newly quoted LIBOR Variable Rate, the Borrower shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Variable a newly quoted LIBOR Rate upon the expiration of the LIBOR Interest Period pertaining to such Advance.

Notice of Election to Adjust Interest Rate. The Upon telephonic notice which shall be received by the Bank at or before 2:00 p.m. (California time) on a Business Day, the Borrower may elect: (ia) That interest on a Variable Rate Advance shall be adjusted to accrue at the LIBOR Fixed Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days business days prior to the day (which shall be a Business Daybusiness day) on which the Borrower requests that interest be adjusted to accrue at the LIBOR Fixed Rate. (iib) That interest on a LIBOR Fixed Rate Advance shall continue to accrue at a newly quoted LIBOR Fixed Rate or shall be adjusted to commence to accrue at the Variable Rate; provided, provided however, that such notice shall be received by the Bank no later than two Business Days business day prior to the last day of the LIBOR Interest Period pertaining to such LIBOR Fixed Rate Advance. If the Bank shall not have received notice (as prescribed herein) herein of the Borrower’s 's election that interest on any LIBOR Fixed Rate Advance shall continue to accrue at the newly quoted LIBOR Fixed Rate, the Borrower shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Variable Rate upon the expiration of the LIBOR Interest Period pertaining to such Advance.

Notice of Election to Adjust Interest Rate. The Borrower may elect: (i) That interest on a Variable Rate Advance shall be adjusted to accrue at the LIBOR Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days prior to the day (which shall be a Business Day) on which the Borrower requests that interest be adjusted to accrue at the LIBOR Rate. (ii) That interest on a LIBOR Advance shall continue to accrue at a newly quoted LIBOR Rate or shall be adjusted to commence to accrue at the Variable Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days prior to the last day of the LIBOR Interest Period pertaining to such LIBOR Advance. If the Bank shall not have received notice (as prescribed herein) of the Borrower’s election that interest on any LIBOR Advance shall continue to accrue at the newly quoted LIBOR Rate, the Borrower shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Variable Rate upon the expiration of the LIBOR Interest Period pertaining to such Advance.

Notice of Election to Adjust Interest Rate. The Upon telephonic notice which shall be received by the Bank at or before 11:00 am (California time) on a Business Day, the Borrower may elect: (ia) That interest on a Variable Rate Advance shall be adjusted to accrue at the LIBOR a quoted and offered Fixed Rate; : provided, however, that such notice shall be received by the Bank no later than two Business Days business days prior to the day (which shall be a Business Daybusiness day) on which the Borrower requests that interest be adjusted to accrue at the LIBOR Fixed Rate. (iib) That interest on a LIBOR Fixed Rate Advance shall continue to accrue at a newly quoted LIBOR Fixed Rate or shall be adjusted to commence to accrue at the Variable Rate; provided, provided however, that such notice shall be received by the Bank no later than two Business Days business days prior to the last day of the LIBOR Interest Period pertaining to such LIBOR Fixed Rate Advance. If the Bank shall not have received notice (as prescribed herein) herein of the Borrower’s 's election that interest on any LIBOR Fixed Rate Advance shall continue to accrue at the newly quoted LIBOR Fixed Rate, the Borrower shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Variable Rate upon the expiration of the LIBOR Interest Period pertaining to such Advance.

Notice of Election to Adjust Interest Rate. The Upon telephonic notice which shall be received by the Bank at or before 11:00 a.m. (California time) on a business day, Borrower may elect: (i) 1. That interest on a Variable Rate Advance shall be adjusted to accrue at the LIBOR Fixed Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days business days prior to the day (which shall be a Business Daybusiness day) on which the Borrower requests that interest be adjusted to accrue at the LIBOR Fixed Rate. (ii) 2. That interest on a LIBOR Fixed Rate Advance shall continue to accrue at a newly quoted LIBOR Fixed Rate or shall be adjusted to commence to accrue at the Variable Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days prior to the last day of the LIBOR Interest Period pertaining to such LIBOR Fixed Rate Advance. If the Bank shall not have received notice (as prescribed herein) of the Borrower’s 's election that interest on any LIBOR Fixed Rate Advance shall continue to accrue at the newly quoted LIBOR Fixed Rate, the Borrower shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Variable Rate upon the expiration of the LIBOR Interest Period pertaining to such Advance.

Notice of Election to Adjust Interest Rate. The Borrower Upon telephonic notice which shall be received by the Bank at or before 2:00 p.m. (California time) on a Business Day, the Borrowers may elect: (i1) That interest on a Variable Rate Advance Balance shall be adjusted to accrue accrued at the LIBOR Fixed Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days prior to the day (which shall be a Business Day) on which the any Borrower requests that interest be adjusted to accrue at the LIBOR Fixed Rate. (ii2) That interest on a LIBOR Advance Fixed Rate Balance shall continue to accrue at a newly quoted LIBOR Fixed Rate or shall be adjusted to commence to accrue at the Equipment Variable Rate; provided, however, however that such notice shall be received by the Bank no later than two Business Days prior to the last day of the LIBOR Interest Period pertaining to such LIBOR AdvanceFixed Rate Balance. If the Bank shall not have received notice (as prescribed herein) herein of the such Borrower’s 's election that interest on any LIBOR Advance Fixed Rate Balance shall continue to accrue at the newly quoted LIBOR Fixed Rate, the such Borrower shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Equipment Variable Rate upon the expiration of the LIBOR Interest Period pertaining to such AdvanceTerm Balance.

Notice of Election to Adjust Interest Rate. The Borrower may elect: (ia) That interest on a Variable Rate Advance Balance shall be adjusted to accrue at the LIBOR Rate; provided, however, that such notice shall be received by the Bank no later than two LIBOR Business Days prior to the day (which shall be a Business Day) on which the Borrower requests that interest be adjusted to accrue at the LIBOR Rate. (iib) That interest on a LIBOR Advance Balance shall continue to accrue at a newly quoted LIBOR Rate or shall be adjusted to commence to accrue at the Variable Rate; provided, however, that such notice to continue to accrue at the LIBOR Rate shall be received by the Bank no later than two LIBOR Business Days prior to the last day of the relevant LIBOR Interest Period pertaining to such LIBOR AdvancePeriod. If the Bank shall not have received notice (as prescribed herein) of the Borrower’s 's election that interest on any LIBOR Advance Balance shall continue to accrue at the newly quoted LIBOR Rate, the Borrower shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Variable Rate upon the expiration of the relevant LIBOR Interest Period pertaining to such AdvancePeriod.

Notice of Election to Adjust Interest Rate. The Upon telephonic notice which shall be received by the Bank at or before 2:00 p.m. (California time) on a Business Day, the Borrower may elect: (ia) That interest on a Variable Rate Advance shall be adjusted to accrue at the LIBOR a Fixed Rate; provided, however, that such notice shall be received by the Bank no later than two Business Days prior to the day (which shall be a Business Day) on which the Borrower requests that interest be adjusted to accrue at the LIBOR Fixed Rate. (iib) That interest on a LIBOR Fixed Rate Advance shall continue to accrue at a newly quoted LIBOR Fixed Rate or shall be adjusted to commence to accrue at the Variable Rate; provided, provided however, that such notice shall be received by the Bank no later than two Business Days prior to the last day of the LIBOR Interest Period pertaining to such LIBOR Fixed Rate Advance. If the Bank shall not have received notice (as prescribed herein) herein of the Borrower’s 's election that interest on any LIBOR Fixed Rate Advance shall continue to accrue at the newly quoted LIBOR Fixed Rate, the Borrower Borrowers shall be deemed to have elected that interest thereon shall be adjusted to accrue at the Variable Rate upon the expiration of the LIBOR Interest Period pertaining to such Advance.