Common use of Prime-based Advance in Absence of Election or Upon Default Clause in Contracts

Prime-based Advance in Absence of Election or Upon Default. In the event Borrowers shall fail with respect to any Eurodollar-based Advance of the Term Loan to timely exercise their option to refund or convert such Advance in accordance with Section 4.4 hereof (and such Advance has not been paid in full on the last day of the Eurodollar-Interest Period applicable thereto according to the terms hereof), or, if on the last day of the applicable Eurodollar-Interest Period, a Default or Event of Default shall exist, then, on the last day of the applicable Eurodollar-Interest Period, the principal amount of such Advance which has not been prepaid shall be automatically converted to a Prime-based Advance and the Agent shall thereafter promptly notify Borrowers thereof. All accrued and unpaid interest on any Advance converted to a Prime-based Advance under this Section 4.5 shall be due and payable in full on the date such Advance is converted.

Prime-based Advance in Absence of Election or Upon Default. In the event Borrowers Borrower shall fail with respect to any EurodollarEurocurrency-based Advance of the Term Loan to timely exercise their its option to refund or convert such Advance in accordance with Section 4.4 3A.4 hereof (and such Advance has not been paid in full on the last day of the Eurodollar-Interest Period applicable thereto according to the terms hereof), or, subject to Section 3A.9 hereof, if on the last day of the applicable Eurodollar-Interest Period, a Default or Event of Default shall exist, then, on the last day of the applicable Eurodollar-Interest Period, the principal amount of such Advance which has not been prepaid shall be automatically converted to a Prime-based Advance and the Agent shall thereafter promptly notify Borrowers Borrower thereof. All accrued and unpaid interest on any Advance converted to a Prime-based Advance under this Section 4.5 shall be due and payable in full on the date such Advance is converted.

Prime-based Advance in Absence of Election or Upon Default. In the event Borrowers Borrower shall fail with respect to any Eurodollar-based Advance of the Term Loan to timely exercise their option to refund or convert such Advance in accordance with Section 4.4 hereof (and such Advance has not been paid in full on the last day of the Eurodollar-Interest Period applicable thereto according to the terms hereof), or, if on the last day of the applicable Eurodollar-Interest Period, a Default or Event of Default shall exist, then, on the last day of the applicable Eurodollar-Interest Period, the principal amount of such Advance which has not been prepaid shall be automatically converted to a Prime-based Advance and the Agent shall thereafter promptly notify Borrowers Borrower thereof. All accrued and unpaid interest on any Advance converted to a Prime-based Advance under this Section 4.5 shall be due and payable in full on the date such Advance is converted.

Prime-based Advance in Absence of Election or Upon Default. In the event the Borrowers shall fail with respect to any EurodollarEurocurrency-based Advance of the Term Loan to timely exercise their its option to refund or convert such Advance in accordance with Section 4.4 4.6 hereof (and such Advance has not been paid in full on the last day of the Eurodollar-Interest Period applicable thereto according to the terms hereof), or, subject to Section 4.9 hereof, if on the last day of the applicable Eurodollar-Interest Period, a Default or Event of Default shall exist, then, on the last day of the applicable Eurodollar-Interest Period, the principal amount of such Advance which has not been prepaid shall be automatically converted to a Prime-based Advance and the Agent shall thereafter promptly notify the Borrowers thereof. All accrued and unpaid interest on any Advance converted to a Prime-based Advance under this Section 4.5 shall be due and payable in full on the date such Advance is converted.

Prime-based Advance in Absence of Election or Upon Default. In the event the Borrowers shall fail with respect to any EurodollarEurocurrency-based Advance of the Term Loan to timely exercise their option to refund or convert such Advance in accordance with Section 4.4 hereof (and such Advance has not been paid in full on the last day of the Eurodollar-Interest Period applicable thereto according to the terms hereof), or, subject to Section 4.9 hereof, if on the last day of the applicable Eurodollar-Interest Period, a Default or Event of Default shall exist, then, on the last day of the applicable Eurodollar-Interest Period, the principal amount of such Advance which has not been prepaid shall be automatically converted to a Prime-based Advance and the Agent shall thereafter promptly notify the Borrowers thereof. All accrued and unpaid interest on any Advance converted to a Prime-based Advance under this Section 4.5 shall be due and payable in full on the date such Advance is converted.

Prime-based Advance in Absence of Election or Upon Default. In the event Borrowers shall fail with respect to any EurodollarEurocurrency-based Advance of the a Term Loan to timely exercise their option to refund or convert such Advance in accordance with Section 4.4 2A.4 hereof (and such Advance has not been paid in full on the last day of the Eurodollar-Interest Period applicable thereto according to the terms hereof), or, subject to Section 2A.6 hereof, if on the last day of the applicable EurodollarEurocurrency-Interest Period, a Default or Event of Default shall exist, then, on the last day of the applicable Eurodollar-Interest Period, the principal amount of such Advance which has not been prepaid shall be automatically converted to a Prime-based Advance and the Agent shall thereafter promptly notify Borrowers thereof. All accrued and unpaid interest on any Advance converted to a Prime-based Advance under this Section 4.5 shall be due and payable in full on the date such Advance is converted.

Prime-based Advance in Absence of Election or Upon Default. In the event Borrowers Company shall fail with respect to any EurodollarEurocurrency-based Advance of the Term Loan to timely exercise their option to refund or convert such Advance in accordance with Section 4.4 hereof (and such Advance has not been paid in full on the last day of the EurodollarEurocurrency-Interest Period applicable thereto according to the terms hereof), or, if on the last day of the applicable EurodollarEurocurrency-Interest Period, a Default or Event of Default shall exist, then, on the last day of the applicable EurodollarEurocurrency-Interest Period, the principal amount of such Advance which has not been prepaid shall be automatically converted to a Prime-based Advance and the Agent shall thereafter promptly notify Borrowers Company thereof. All accrued and unpaid interest on any Advance converted to a Prime-based Advance under this Section 4.5 4.6 shall be due and payable in full on the date such Advance is converted.