Common use of Rate Elections Clause in Contracts

Rate Elections. Borrower may from time to time designate all or any portion of the Loan (including any yet-to-be-made Advances which are to be made prior to or at the beginning of the designated Interest Period but excluding any portion of the Loan which is required to be repaid prior to the end of the designated Interest Period) as a Fixed Rate Portion; provided that, without the consent of Lenders, Borrower may make no such election during the continuance of a Default and Borrower may make such an election with respect to an already existing Fixed Rate Portion only if such election will take effect at or after the termination of the Interest Period applicable to such already existing Fixed Rate Portion. Each election by Borrower of a Fixed Rate Portion shall:

Rate Elections. Borrower may from time to time designate all or any portion of the Loan (including any yet-to-be-yet to be made Advances which are to be made prior to or at the beginning of the designated Interest Period but excluding any portion of the Loan which is required to be repaid prior to the end of the designated Interest Period) as a Fixed Rate Portion; provided that, that without the consent of Lenders, Bank One Borrower may make no such election during the continuance of a Default and that Borrower may make such an election with respect to an already existing Fixed Rate Portion only if such election will take effect at or after the termination of the Interest Period applicable to such already existing Fixed Rate Portion. Each election by Borrower of a Fixed Rate Portion shall:

Rate Elections. Borrower may from time to time designate all or any portion of the Loan (including any yet-to-be-yet to be made Advances which are to be made prior to or at the beginning of the designated Interest Period but excluding any portion of the Loan which is required to be repaid prior to the end of the designated Interest Period) as a Fixed Rate Portion; provided that, that without the consent of Lenders, Lender Borrower may make no such election during the continuance of a Default and that Borrower may make such an election with respect to an already existing Fixed Rate Portion only if such election will take effect at or after the termination of the Interest Period applicable to such already existing Fixed Rate Portion. Each election by Borrower of a Fixed Rate Portion shall:

Rate Elections. Borrower may from time to time designate all or any -------------- portion of the Loan (including any yet-to-be-yet to be made Advances which are to be made prior to or at the beginning of the designated Interest Period but excluding any portion of the Loan which is required to be repaid prior to the end of the designated Interest Period) as a Fixed Rate Eurodollar Portion; provided that, that without the consent of Lenders, Lender Borrower may make no such election during the continuance of a Default and that Borrower may make such an election with respect to an already existing Fixed Rate Eurodollar Portion only if such election will take effect at or after the termination of the Interest Period applicable to such already existing Fixed Rate Eurodollar Portion. Each election by Borrower of a Fixed Rate Eurodollar Portion shall: