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

Notice of Election to Adjust Interest Rate. 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) That interest on a Variable Rate Advance shall be adjusted to accrue at the Fixed Rate; provided, however, that such notice shall be received by the Bank no later than 2:00 p.m. on the Business Day on which the Borrower requests that interest be adjusted to accrue at the Fixed Rate. (ii) 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 Business Day on which the Borrower requests that interest be adjusted to accrue at the LIBOR Rate. (iii) That interest on a Fixed Rate Advance shall continue to accrue at a newly quoted 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 2:00 p.m. on the last day of the Interest Period pertaining to such Fixed Rate Advance. If the Bank shall not have received notice (as prescribed herein) of the Borrower's election that interest on any Fixed Rate Advance shall continue to accrue at the newly quoted Fixed 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 relevant Interest Period pertaining to such Advance. (iv) That interest on a Fixed Rate Advance shall accrue at a newly quoted LIBOR Rate or interest on a LIBOR Advance shall continue to accrue at a newly quoted Fixed Rate or 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 relevant Interest Period or LIBOR Interest Period, as applicable. If the Bank shall not have received notice as prescribed herein of the Borrower's election that interest on any Fixed Rate Advance shall accrue interest at a newly quoted LIBOR Rate or at a newly quoted Fixed Rate pursuant to subparagraph (iii) hereinabove; or any LIBOR Advance shall continue to accrue at the newly quoted Fixed Rate or LIBOR 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 relevant Interest Period or LIBOR Interest Period pertaining to such Advance.

Notice of Election to Adjust Interest Rate. Upon telephonic notice which shall be received by the Bank at or before 2:00 p.m. (California time) on a Business Daybusiness day, the Borrower may elect: (i1) That interest on a Variable Rate Advance Balance shall be adjusted to accrue accrued at the Fixed Rate; provided, however, that such notice shall be received by Rate or the Bank no later than 2:00 p.m. on the Business Day on which the Borrower requests that interest be adjusted to accrue at the Fixed Rate. (ii) 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 Business Day day (which shall be a business day) on which the Borrower requests that interest be adjusted to accrue at the LIBOR Fixed Rate or Eurodollar Rate. (iii2) That interest on a Fixed Rate Advance Balance or Eurodollar Rate Balance shall continue to accrue at a newly quoted 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 2:00 p.m. on the last day of the Interest Period pertaining to such Fixed Rate Advance. If the Bank shall not have received notice (as prescribed herein) of the Borrower's election that interest on any Fixed Rate Advance shall continue to accrue at the newly quoted Fixed 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 relevant Interest Period pertaining to such Advance. (iv) That interest on a Fixed Rate Advance shall accrue at a newly quoted LIBOR Rate or interest on a LIBOR Advance shall continue to accrue at a newly quoted Fixed Rate or LIBOR 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 relevant Interest Period or LIBOR Eurodollar Interest Period, Period pertaining to such Fixed Rate Balance or Eurodollar Rate Balance as applicablethe case may. If the Bank shall not have received notice as prescribed herein of the Borrower's election that interest on any Fixed Rate Advance shall accrue interest at a newly quoted LIBOR Balance or Eurodollar Rate or at a newly quoted Fixed Rate pursuant to subparagraph (iii) hereinabove; or any LIBOR Advance Balance shall continue to accrue at the newly quoted Fixed Rate or LIBOR Rate as the case may beEurodollar 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 Interest Period or LIBOR Eurodollar Interest Period pertaining to such AdvanceTerm Balance.

Notice of Election to Adjust Interest Rate. Upon telephonic notice which shall be received by the Bank at or before 2:00 p.m. (California time) on a Business Day, the The Borrower may elect: (i) That interest on a Variable an Alternate Base Rate Advance shall be adjusted to accrue at the Fixed RateLIBOR Rate or Applicable Floating Rate Advance; provided, however, that such notice shall be received by the Bank no later than 2:00 p.m. on two Business Days prior to the day (which shall be a Business Day Day) on which the Borrower requests Borrowers request that interest be adjusted to accrue at the Fixed LIBOR Rate or One Month LIBOR Rate. (ii) That interest on a Variable an Applicable Floating Rate Advance shall be adjusted to accrue at the LIBOR Rate or Alternate Base 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 Day) on which the Borrower requests that interest be adjusted to accrue at the LIBOR Rate or Alternate Base Rate. (iii) That interest on a Fixed Rate Advance shall continue to accrue at a newly quoted 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 2:00 p.m. on the last day of the Interest Period pertaining to such Fixed Rate Advance. If the Bank shall not have received notice (as prescribed herein) of the Borrower's election that interest on any Fixed Rate Advance shall continue to accrue at the newly quoted Fixed 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 relevant Interest Period pertaining to such Advance. (iv) That interest on a Fixed Rate Advance shall accrue at a newly quoted LIBOR Rate or interest on a LIBOR Advance shall continue to accrue at a newly quoted Fixed Rate or LIBOR Rate or shall be adjusted to commence to accrue at the Variable Alternate Base Rate or Applicable Floating 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 relevant LIBOR Interest Period or pertaining to such LIBOR Interest Period, as applicableAdvance. If the Bank shall not have received notice (as prescribed herein herein) of the Borrower's Borrowers’ election that interest on any Fixed Rate Advance shall accrue interest at a newly quoted LIBOR Rate or at a newly quoted Fixed Rate pursuant to subparagraph (iii) hereinabove; or any LIBOR Advance shall continue to accrue at the newly quoted Fixed Rate or LIBOR Rate as the case may befor such new interest period, 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 relevant Interest Period or then existing LIBOR Interest Period pertaining to such LIBOR Advance.

Notice of Election to Adjust Interest Rate. Upon telephonic written notice which shall be received by to the Bank at or before 2:00 p.m. (California time) on a Business DayBank, the Borrower may elect: (i1) Conversion of a Variable Rate Advance. That interest on a Variable Rate Advance shall be adjusted to accrue at the Fixed Rate by requesting the Bank to provide a quote as to the rate which would apply for a designated Interest Period (the "Fixed Rate; provided") and, howeverconcurrently with receiving such quote, that give the Bank irrevocable notice of the Borrower's acceptance of the rate quoted provided such notice shall be received by given to the Bank no not more than two (2) Business Days prior to but not later than 2:00 p.m. 10:00 a.m. (California time) on the day (which shall be a Business Day Day) on which the Borrower requests that interest such Variable Rate Advance be adjusted converted to accrue at the a Fixed RateRate Advance. (ii2) That interest on Conversion or Continuation of a Variable Fixed 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 Business Day on which the Borrower requests that interest be adjusted to accrue at the LIBOR Rate. (iii) Advance. That interest on a Fixed Rate Advance shall Advance, effective on the last day of the current Interest Period pertaining to such Fixed Rate Advance, (i) continue to accrue at a newly quoted Fixed Rate or by requesting the Bank to provide a quote as to the Fixed Rate which would apply for a designated Interest Period and, concurrently with receiving such quote, give the Bank irrevocable notice of the Borrower's acceptance of the rate quoted provided such notice shall be given to the Bank not more than two (2) Business Days prior to but not later than 10:00 a.m. (California time) on the last day of the then expiring Interest Period, (ii) be adjusted to commence to accrue at the Variable Rate; provided, however, that such notice shall be received by the Bank no later than 2:00 p.m. on the last day of the Interest Period pertaining to such Fixed Rate Advance. If the Bank shall not have received notice (as prescribed herein) of the Borrower's election that interest on any Fixed Rate Advance shall continue to accrue at the newly quoted Fixed 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 relevant Interest Period pertaining to such Advance. (iv) That interest on a Fixed Rate Advance shall accrue at a newly quoted LIBOR Rate or interest on a LIBOR Advance shall continue to accrue at a newly quoted Fixed Rate or 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 relevant Interest Period or LIBOR Interest Period, as applicable. If the Bank shall not have received notice as prescribed herein of the Borrower's election that interest on any Fixed Rate Advance shall accrue interest at a newly quoted LIBOR Rate or at a newly quoted Fixed Rate pursuant to subparagraph (iii) hereinabove; or any LIBOR Advance shall continue to accrue at the newly quoted Fixed Rate or LIBOR Rate as the case may beRate, 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 Interest Period or LIBOR Interest Period pertaining to such Fixed Rate Advance.

Notice of Election to Adjust Interest Rate. 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 Borrowers may elect: (i) That interest on a Variable Rate Advance shall be adjusted to accrue at the Fixed Rate; provided, however, that such notice shall be received by the Bank no later than 2:00 p.m. on the Business Day on which the Borrower requests Borrowers request that interest be adjusted to accrue at the Fixed Rate. (ii) 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 Business Day on which the Borrower requests Borrowers request that interest be adjusted to accrue at the LIBOR Rate. (iii) That interest on a Fixed Rate Advance shall continue to accrue at a newly quoted 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 2:00 p.m. on the last day of the Interest Period pertaining to such Fixed Rate Advance. If the Bank shall not have received notice (as prescribed herein) of the Borrower's Borrowers' election that interest on any Fixed Rate Advance shall continue to accrue at the newly quoted Fixed Rate as the case may be 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 relevant Interest Period pertaining to such Advance. (iv) That (i) interest on a Fixed Rate Advance shall accrue at a newly quoted LIBOR Rate or (ii) interest on a LIBOR Advance shall continue to accrue at a newly quoted Fixed Rate or 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 relevant Interest Period or LIBOR Interest Period, as applicable. If the Bank shall not have received notice as prescribed herein of the Borrower's Borrowers' election that interest on (x) any Fixed Rate Advance shall accrue interest at a newly quoted LIBOR Rate or at a newly quoted Fixed Rate pursuant to subparagraph (iiic) hereinabove; or (y) any LIBOR Advance shall continue to accrue at the newly quoted Fixed Rate or LIBOR Rate as the case may be, 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 relevant Interest Period or LIBOR Interest Period pertaining to such Advance.

Notice of Election to Adjust Interest Rate. Upon telephonic notice which shall be received by the Bank at or before 2:00 p.m. (California time) on a Business Day, the The Borrower may elect: (i) That interest on a Variable Rate Advance shall be adjusted to accrue at the Fixed Rate; provided, however, that such notice shall be received by the Bank no later than 2:00 p.m. on the Business Day on which the Borrower requests that interest be adjusted to accrue at the Fixed Rate. (ii) That interest on a Variable an Alternate Base Rate Advance shall be adjusted to accrue at the LIBOR Rate or the Applicable Floating Rate; provided, however, that such notice shall be received by the Bank no later than two (2) 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 Applicable Floating Rate. (iiiii) That interest on a Fixed an Applicable Floating Rate Advance shall continue to accrue at a newly quoted 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 2:00 p.m. on the last day of the Interest Period pertaining to such Fixed Rate Advance. If the Bank shall not have received notice (as prescribed herein) of the Borrower's election that interest on any Fixed Rate Advance shall continue to accrue at the newly quoted Fixed 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 relevant Interest Period pertaining to such Advance. (iv) That interest on a Fixed Rate Advance shall accrue at a newly quoted LIBOR Rate or interest on a LIBOR Advance shall continue to accrue at a newly quoted Fixed Rate or 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 (2) 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 or Alternate Base Rate. (iii) 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 Alternate Base Rate or Applicable Floating Rate; provided, however, that such notice shall be received by the Bank no later than two (2) Business Days prior to the last day of the relevant LIBOR Interest Period or pertaining to such LIBOR Interest Period, as applicableAdvance. If the Bank shall not have received notice (as prescribed herein herein) of the Borrower's ’s election that interest on any Fixed Rate Advance shall accrue interest at a newly quoted LIBOR Rate or at a newly quoted Fixed Rate pursuant to subparagraph (iii) hereinabove; or any LIBOR Advance shall continue to accrue at the newly quoted Fixed Rate or LIBOR Rate as the case may beRate, the Borrower 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 relevant Interest Period or LIBOR Interest Period pertaining to such Advance.

Notice of Election to Adjust Interest Rate. 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) That interest on a Variable Rate Advance Balance shall be adjusted to accrue at the Fixed Rate; provided, however, that such notice shall be received by the Bank no later than 2:00 p.m. on the Business Day on which the Borrower requests that interest be adjusted to accrue at the Fixed Rate. (ii) 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 Business Days prior to the Business Day on which the Borrower requests that interest be adjusted to accrue at the LIBOR Rate. (iii) That interest on a Fed Funds Balance shall be adjusted to accrue at the Fixed Rate; provided, however, that such notice shall be received by the Bank no later than 2:00 p.m. on the Business Day on which the Borrower requests that interest be adjusted to accrue at the Fixed Rate. (iv) That interest on a Fed Funds 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 Business Days prior to the Business Day on which the Borrower requests that interest be adjusted to accrue at the LIBOR Rate. (v) That interest on a Fixed Rate Advance shall continue to accrue at a newly quoted Fixed Rate or shall be adjusted to commence to accrue at the Variable Rate or the Fed Funds Rate; provided, however, that such notice shall be received by the Bank no later than 2:00 p.m. on the last day of the Interest Period pertaining to such Fixed Rate AdvanceBalance. If the Bank shall not have received notice (as prescribed herein) of the Borrower's election that interest on any Fixed Rate Advance Balance shall continue to accrue at the newly quoted Fixed 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 relevant Interest Period pertaining to such AdvancePeriod. (ivvi) That interest on a Fixed Rate Advance shall accrue at a newly quoted LIBOR Rate or interest on a LIBOR Advance Balance shall continue to accrue at a newly quoted Fixed Rate or LIBOR Rate or shall be adjusted to commence to accrue at the Variable Rate or Fed Funds 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 relevant Interest Period or LIBOR Interest Period, as applicable. If the Bank shall not have received notice as prescribed herein of the Borrower's election that interest on any Fixed Rate Advance Balance shall accrue interest at a newly quoted LIBOR Rate or at a newly quoted Fixed Rate pursuant to subparagraph (iii) hereinabove; or any LIBOR Advance Balance shall continue to accrue at the newly quoted Fixed Rate or LIBOR 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 relevant Interest Period or LIBOR Interest Period pertaining to such AdvancePeriod.

Notice of Election to Adjust Interest Rate. 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 Borrowers may elect: (i) That interest on a Variable Rate Advance Balance shall be adjusted to accrue at the Fixed Rate; provided, however, that such notice shall be received by the Bank no later than 2:00 p.m. on the Business Day on which the Borrower requests Borrowers request that interest be adjusted to accrue at the Fixed Rate. (ii) 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 Business Days prior to the Business Day on which the Borrower requests Borrowers request that interest be adjusted to accrue at the LIBOR Rate. (iii) That interest on a Fixed Rate Advance Balance shall continue to accrue at a newly quoted 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 2:00 p.m. on the last day of the Interest Period pertaining to such Fixed Rate AdvanceBalance. If the Bank shall not have received notice (as prescribed herein) of the Borrower's Borrowers' election that interest on any Fixed Rate Advance Balance shall continue to accrue at the newly quoted Fixed Rate as the case may be 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 relevant Interest Period pertaining to such AdvanceBalance. (iv) That (i) interest on a Fixed Rate Advance Balance shall accrue at a newly quoted LIBOR Rate or (ii) interest on a LIBOR Advance Balance shall continue to accrue at a newly quoted Fixed Rate or 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 relevant Interest Period or LIBOR Interest Period, as applicable. If the Bank shall not have received notice as prescribed herein of the Borrower's Borrowers' election that interest on any Fixed Rate Advance Balance shall accrue interest at a newly quoted LIBOR Rate or at a newly quoted Fixed Rate pursuant to subparagraph (iiic) hereinabove; or any LIBOR Advance Balance shall continue to accrue at the newly quoted Fixed Rate or LIBOR Rate as the case may be, 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 relevant Interest Period or LIBOR Interest Period pertaining to such AdvanceBalance.

Notice of Election to Adjust Interest Rate. 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 The Borrowers may elect: (i) That elect that interest on a Variable Fixed Rate Advance shall be adjusted continue to accrue at the Fixed a newly quoted Eurocurrency Rate or Cost of Funds Rate; provided, however, that such notice shall be received by the Bank no later than 2:00 11:00 a.m. two business days prior to the last day of the Eurocurrency Interest Period for a Eurocurrency Advance and 1:00 p.m. one business day prior to the last day of a Cost of Funds Interest Period for a Cost of Funds Advance. Such notice may be by telephone if confirmed in writing by telecopy with the original of such writing deposited in the US mail or with an air courier on the Business Day same day. The Bank shall not incur any liability to any Borrower in acting upon any telephonic notice referred to above that the Bank believes in good faith to have been given by a duly authorized officer or other person authorized to act on which the behalf of any Borrower requests that interest be adjusted to accrue at the Fixed Rate. (ii) That interest on a Variable Rate Advance shall be adjusted to accrue at the LIBOR Rate; providedand upon any borrowing, however, that such notice shall be received Redenomination or continuation by the Bank no later than two Business Days prior in accordance with this Agreement pursuant to any telephonic notice, each Borrower shall have effected the Business Day on which the Borrower requests borrowing, redenomination or continuation of Advances hereunder. The Borrowers may elect that interest be adjusted to accrue at the LIBOR Rate. (iii) That interest on a Fixed Rate Advance shall continue to accrue at a newly quoted 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 2:00 p.m. on one business day prior to the last day of the Interest Period pertaining to such Fixed Rate Advance, and provided further, however, that such Fixed Rate Advance shall be in Dollars or Redenominated in Dollars pursuant to the terms hereinbelow. If the Bank shall not have received notice (as prescribed herein) of the Borrower's Borrowers' election that interest on any Fixed Rate Advance shall continue to accrue at the newly quoted Fixed Eurocurrency Rate or Cost of Funds Rate or Variable Rate as the case may be be, 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 relevant Interest Period pertaining to such Advance. (iv) That interest on a Fixed Rate Advance shall accrue at a newly quoted LIBOR Rate or interest on a LIBOR Advance shall continue to accrue at a newly quoted Fixed Rate or LIBOR Rate or then in effect and any Alternate Currency 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 relevant Interest Period or LIBOR Interest Period, as applicable. If the Bank shall not have received notice as prescribed herein of the Borrower's election that interest on any Fixed Rate Advance shall accrue interest at a newly quoted LIBOR Rate or at a newly quoted Fixed Rate pursuant to subparagraph (iii) hereinabove; or any LIBOR Advance shall continue to accrue at the newly quoted Fixed Rate or LIBOR 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 relevant Interest Period or LIBOR Interest Period pertaining to such AdvanceRedenominated in Dollars.

Notice of Election to Adjust Interest Rate. Upon telephonic written notice which shall be received by to the Bank at or before 2:00 p.m. (California time) on a Business DayBank, the Borrower may elect: (i1) Conversion of a Variable Rate Term Advance. That interest on a Variable Rate Term Advance shall be adjusted to accrue at the Fixed Rate by requesting the Bank to provide a quote as to the rate which would apply for a designated Interest Period (the "Fixed Rate; provided") and, howeverconcurrently with receiving such quote, that give the Bank irrevocable notice of the Borrower's acceptance of the rate quoted provided such notice shall be received by given to the Bank no not more than two (2) Business Days prior to but not later than 2:00 p.m. 10:00 a.m. (California time) on the day (which shall be a Business Day Day) on which the Borrower requests that interest such Variable Rate Term Advance be adjusted converted to accrue at the a Fixed RateRate Term Advance. (ii2) That interest on Conversion or Continuation of a Variable Fixed 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 Business Day on which the Borrower requests that interest be adjusted to accrue at the LIBOR Rate. (iii) Term Advance. That interest on a Fixed Rate Advance shall Term Advance, effective on the last day of the current Interest Period pertaining to such Fixed Rate Term Advance, (i) continue to accrue at a newly quoted Fixed Rate or by requesting the Bank to provide a quote as to the Fixed Rate which would apply for a designated Interest Period and, concurrently with receiving such quote, give the Bank irrevocable notice of the Borrower's acceptance of the rate quoted provided such notice shall be given to the Bank not more than two (2) Business Days prior to but not later than 10:00 a.m. (California time) on the last day of the then expiring Interest Period, (ii) be adjusted to commence to accrue at the Variable Rate; provided, however, that such notice shall be received by the Bank no later than 2:00 p.m. on the last day of the Interest Period pertaining to such Fixed Rate Advance. If the Bank shall not have received notice (as prescribed herein) of the Borrower's election that interest on any Fixed Rate Advance shall continue to accrue at the newly quoted Fixed 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 relevant Interest Period pertaining to such Advance. (iv) That interest on a Fixed Rate Advance shall accrue at a newly quoted LIBOR Rate or interest on a LIBOR Advance shall continue to accrue at a newly quoted Fixed Rate or 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 relevant Interest Period or LIBOR Interest Period, as applicable. If the Bank shall not have received notice as prescribed herein of the Borrower's election that interest on any Fixed Rate Advance shall accrue interest at a newly quoted LIBOR Rate or at a newly quoted Fixed Rate pursuant to subparagraph (iii) hereinabove; or any LIBOR Term Advance shall continue to accrue at the newly quoted Fixed Rate or LIBOR Rate as the case may beRate, 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 Interest Period or LIBOR Interest Period pertaining to such Fixed Rate Term Advance.

Notice of Election to Adjust Interest Rate. Upon telephonic notice which shall be received by the Bank at or before 2:00 p.m. (California timea) on a Business Day, the The Borrower may elect: (i) That interest on a Variable Rate Advance shall be adjusted to accrue at the Fixed Rate; provided, however, elect that such notice shall be received by the Bank no later than 2:00 p.m. on the Business Day on which the Borrower requests that interest be adjusted to accrue at the Fixed Rate. (ii) 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 Business Day on which the Borrower requests that interest be adjusted to accrue at the LIBOR Rate. (iii) That interest on a Fixed Rate Advance Balance shall continue to accrue at a newly quoted and offered Fixed Rate or shall be adjusted to commence to accrue at the Variable Rate; providedRate by telephonic notice to the Bank, however, provided that such notice shall be received by the Bank no later than 2:00 p.m. on the last day of the Interest Period pertaining to such Fixed Rate Advance. If the Bank shall not have received notice at or before 11:00 am (as prescribed hereinCalifornia time) of the Borrower's election that interest on any Fixed Rate Advance shall continue to accrue at the newly quoted Fixed 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 relevant Interest Period pertaining to such Advance. (iv) That interest on a Fixed Rate Advance shall accrue at a newly quoted LIBOR Rate or interest on a LIBOR Advance shall continue to accrue at a newly quoted Fixed Rate or 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 Business Day which is two Business Days prior to the last day of the relevant Interest Period Period. (b) The Borrower may elect that interest on a Variable Rate Balance shall continue to accrue at the Variable Rate or LIBOR Interest Periodcommence to accrue at a quoted and offered Fixed Rate by telephonic notice to the Bank, as applicableprovided that such notice shall be received at or before 11:00 am (California time) on a Business Day which is two Business Days prior to the date on which the elected interest rate shall be effective. If the Bank shall not have received notice as prescribed herein of the Borrower's election that interest on any the Term Balance shall commence to accrue at the Fixed Rate Advance shall or continue to accrue interest at a newly quoted LIBOR Rate or at a newly quoted Fixed Rate pursuant to subparagraph (iii) hereinabove; or any LIBOR Advance shall continue to accrue at the newly quoted Fixed Rate or LIBOR Rate as the case may beRate, then the Borrower shall be deemed to have elected that interest shall accrue thereon shall be adjusted to accrue at the Variable Rate. In the event the Bank determines that accrual of interest on the basis of the Fixed Rate upon is infeasible because the expiration Bank is unable to determine the Fixed Rate due to the unavailability of U.S. dollar deposits, contracts or certificates of deposit in any amount approximately equal to the amount of the Term Balance and for a period of time approximately equal to the relevant Interest Period, the Bank shall give the Borrower prompt notice thereof and the Borrower may select another available Interest Period (as quoted and offered by the Bank), subject to the terms and conditions herein. If the Borrower does not select another available Interest Period or LIBOR if no other Interest Period pertaining is available, then the Term Balance shall be deemed to such Advancebe a Variable Rate Balance and shall accrue interest on the basis of the Variable Rate.

Notice of Election to Adjust Interest Rate. Upon telephonic notice which shall be received by the Bank at or before 2:00 p.m. (California timea) on a Business Day, the The Borrower may elect: (i) That interest on a Variable Rate Advance shall be adjusted to accrue at the Fixed Rate; provided, however, elect that such notice shall be received by the Bank no later than 2:00 p.m. on the Business Day on which the Borrower requests that interest be adjusted to accrue at the Fixed Rate. (ii) 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 Business Day on which the Borrower requests that interest be adjusted to accrue at the LIBOR Rate. (iii) That interest on a Fixed Rate Advance Balance shall continue to accrue at a newly quoted and offered Fixed Rate or shall be adjusted to commence to accrue at the Variable Rate; providedRate by telephonic notice to the Bank, however, provided that such notice shall be received by the Bank no later than 2:00 p.m. on the last day of the Interest Period pertaining to such Fixed Rate Advance. If the Bank shall not have received notice at or before 11:00 am (as prescribed hereinCalifornia time) of the Borrower's election that interest on any Fixed Rate Advance shall continue to accrue at the newly quoted Fixed 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 relevant Interest Period pertaining to such Advance. (iv) That interest on a Fixed Rate Advance shall accrue at a newly quoted LIBOR Rate or interest on a LIBOR Advance shall continue to accrue at a newly quoted Fixed Rate or 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 Business Day which is two Business Days prior to the last day of the relevant Interest Period Period. (b) The Borrower may elect that interest on a Variable Rate Balance shall continue to accrue at the Variable Rate or LIBOR Interest Periodcommence to accrue at a quoted and offered Fixed Rate by telephonic notice to the Bank, as applicableprovided that such notice shall be received at or before 11:00 am (California time) on a Business Day which is two Business Days prior to the date on which the elected interest rate shall be effective. If the Bank shall not have received notice as prescribed herein of the Borrower's election that interest on any the Term Balance shall commence to accrue as the Fixed Rate Advance shall or continue to accrue interest at a newly quoted LIBOR Rate or at a newly quoted Fixed Rate pursuant to subparagraph (iii) hereinabove; or any LIBOR Advance shall continue to accrue at the newly quoted Fixed Rate or LIBOR Rate as the case may beRate, then the Borrower shall be deemed to have elected that interest shall accrue thereon shall be adjusted to accrue at the Variable Rate. In the event the Bank determines that accrual of interest on the basis of the Fixed Rate upon is infeasible because the expiration Bank is unable to determine the Fixed Rate due to the unavailability of U.S. dollar deposits, contracts or certificates of deposit in an amount approximately equal to the amount of the Term Balance and for a period of time approximately equal to the relevant Interest Period, the Bank shall give the Borrower prompt notice thereof and the Borrower may select another available Interest Period (as quoted and offered by the bank), subject to the terms and conditions herein. If the Borrower does not select another available Interest Period or LIBOR if no other Interest Period pertaining is available, then the Term Balance shall be deemed to such Advancebe a Variable Rate Balance and shall accrue interest on the basis of the Variable Rate.

Notice of Election to Adjust Interest Rate. Upon telephonic notice which shall be received by the Bank at or before 2:00 p.m. (California timea) on a Business Day, the The Borrower may elect: (i) That interest on a Variable Rate Advance shall be adjusted to accrue at the Fixed Rate; provided, however, elect that such notice shall be received by the Bank no later than 2:00 p.m. on the Business Day on which the Borrower requests that interest be adjusted to accrue at the Fixed Rate. (ii) 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 Business Day on which the Borrower requests that interest be adjusted to accrue at the LIBOR Rate. (iii) That interest on a Fixed Rate Advance Balance shall continue to accrue at a newly quoted and offered Fixed Rate or shall be adjusted to commence to accrue at the Variable Rate; providedRate by telephonic notice to the Bank, however, provided that such notice shall be received by the Bank no later than 2:00 p.m. on the last day of the Interest Period pertaining to such Fixed Rate Advance. If the Bank shall not have received notice at or before 11:00 am (as prescribed hereinCalifornia time) of the Borrower's election that interest on any Fixed Rate Advance shall continue to accrue at the newly quoted Fixed 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 relevant Interest Period pertaining to such Advance. (iv) That interest on a Fixed Rate Advance shall accrue at a newly quoted LIBOR Rate or interest on a LIBOR Advance shall continue to accrue at a newly quoted Fixed Rate or 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 Business Day which is two Business Days prior to the last day of the relevant Interest Period Period. (b) The Borrower may elect that interest on a Variable Rate Balance shall continue to accrue at the Variable Rate or LIBOR Interest Periodcommence to accrue at a quoted and offered Fixed Rate by telephonic notice to the Bank, as applicableprovided that such notice shall be received at or before 11:00 am (California time) on a Business Day which is two Business Days prior to the date on which the elected interest rate shall be effective. If the Bank shall not have received notice as prescribed herein of the Borrower's election that interest on any the Term Balance shall commence to accrue at the Fixed Rate Advance shall or continue to accrue interest at a newly quoted LIBOR Rate or at a newly quoted Fixed Rate pursuant to subparagraph (iii) hereinabove; or any LIBOR Advance shall continue to accrue at the newly quoted Fixed Rate or LIBOR Rate as the case may beRate, then the Borrower shall be deemed to have elected that interest shall accrue thereon shall be adjusted to accrue at the Variable Rate. In the event the Bank determines that accrual of interest on the basis of the Fixed Rate upon is infeasible because the expiration Bank is unable to determine the Fixed Rate due to the unavailability of U.S. dollar deposits, contracts or certificates of deposit in an amount approximately equal to the amount of the Term Balance and for a period of time approximately equal to the relevant Interest Period, the Bank shall give the Borrower prompt notice thereof and the Borrower may select another available Interest Period (as quoted and offered by the Bank), subject to the terms and conditions herein. If the Borrower does not select another available Interest Period or LIBOR if no other Interest Period pertaining is available, then the Term Balance shall be deemed to such Advancebe a Variable Rate Balance and shall accrue interest on the basis of the Variable Rate.

Notice of Election to Adjust Interest Rate. Upon (a) The Borrower may elect that interest on a Fixed Rate Balance shall continue to accrue at the Fixed Rate or commence to accrue at the Variable Rate by telephonic notice which to the Bank, provided that such notice shall be received by the Bank at or before 2:00 p.m. (California time) on a Business Day, the Borrower may elect: (i) That interest on a Variable Rate Advance shall be adjusted to accrue at the Fixed Rate; provided, however, that such notice shall be received by the Bank no later than 2:00 p.m. on the Business Day on which the Borrower requests that interest be adjusted to accrue at the Fixed Rate. (ii) 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 Business Day on which the Borrower requests that interest be adjusted to accrue at the LIBOR Rate. (iii) That interest on a Fixed Rate Advance shall continue to accrue at a newly quoted 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 2:00 p.m. on the last day of the Interest Period pertaining to such Fixed Rate Advance. If the Bank shall not have received notice (as prescribed herein) of the Borrower's election that interest on any Fixed Rate Advance shall continue to accrue at the newly quoted Fixed 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 relevant Interest Period pertaining to such Advance. (iv) That interest on a Fixed Rate Advance shall accrue at a newly quoted LIBOR Rate or interest on a LIBOR Advance shall continue to accrue at a newly quoted Fixed Rate or 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 is two Business Days prior to the last day of the relevant Interest Period Period. (b) The Borrower may elect that interest on a Variable Rate Balance shall continue to accrue at the Variable Rate or LIBOR Interest Periodcommence to accrue at the Fixed Rate by telephonic notice to the Bank, as applicableprovided that such notice shall be received at or before 2:00 p.m. (California time) on a Business Day which is two Business Days prior to the date on which the elected interest rate shall be effective. If the Bank shall not have received notice as prescribed herein of the Borrower's election that interest on any the Term Balance shall commence to accrue at the Fixed Rate Advance shall or continue to accrue interest at a newly quoted LIBOR Rate or at a newly quoted Fixed Rate pursuant to subparagraph (iii) hereinabove; or any LIBOR Advance shall continue to accrue at the newly quoted Fixed Rate or LIBOR Rate as the case may beRate, then the Borrower shall be deemed to have elected that interest shall accrue thereon shall be adjusted to accrue at the Variable Rate. In the event the Bank determines that accrual of interest on the basis of the Fixed Rate upon is infeasible because the expiration Bank is unable to determine the Fixed Rate due to the unavailability of U.S. dollar deposits, contracts or certificates of deposit in an amount approximately equal to the amount of the Term Balance and for a period of time approximately equal to the relevant Interest Period, the Bank shall give the Borrower prompt notice thereof and the Borrower may select another available Interest Period (as quoted and offered by the Bank), subject to the terms and conditions herein. If the Borrower does not select another available Interest Period or LIBOR if no other Interest Period pertaining is available, then the Term Balance shall be deemed to such Advancebe a Variable Rate Balance and shall accrue interest on the basis of the Variable Rate.

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

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