Selection of Interest Option. Upon making a Request for Borrowing under Section 2.02(a) hereof, Borrower shall advise Agent as to whether the Borrowing shall be (i) a Eurodollar Borrowing, in which case Borrower shall specify the applicable Interest Period therefor, or (ii) a CD Borrowing, in which case the Borrower shall specify the applicable Interest Period therefor, or (iii) a Floating Base Borrowing. At least two (2) Eurodollar Business Days prior to the termination of each Interest Period with respect to a Eurodollar Borrowing and at least one (1) Business Day prior to the termination of each Interest Period with respect to a CD Advance, (unless such termination occurs on the Termination Date) Borrower shall give Agent written notice (the "Rollover Notice") of the interest option which shall be applicable to such Borrowing upon the expiration of such Interest Period. If Borrower shall specify that such Borrowing shall be a Eurodollar Borrowing or a CD Borrowing, such Rollover Notice shall also specify the length of the succeeding Interest Period selected by Borrower with respect to such Borrowing. Each Rollover Notice shall be irrevocable and effective upon notification thereof to Agent. If the required Rollover Notice shall not have been timely received by Agent prior to the expiration of the then-relevant Interest Period, then Borrower shall be deemed to have elected to have such Borrowing be a Floating Base Borrowing. With respect to any Floating Base Borrowing, Borrower shall have the right, on any Business Day or Eurodollar Business Day, as the case may be (a "Conversion Date") to convert such Floating Base Borrowing to a Eurodollar Borrowing or to a CD Borrowing by giving Agent a Rollover Notice of such selection at least two (2) Eurodollar Business Days (with respect to a Eurodollar Borrowing) and at least one (1) Business Day (with respect to a CD Borrowing), prior to such Conversion Date. Notwithstanding anything to the contrary contained herein, Borrower shall have no right to request a Eurodollar Borrowing or a CD Borrowing if the interest rate applicable thereto under Section 3.02 hereof would exceed the Maximum Rate in effect on the first day of the Interest Period applicable to such Eurodollar Borrowing or CD Borrowing.
Selection of Interest Option. On making a Notice of Borrowing under Section 2.3, the Borrower shall advise the Agent as to whether the Advance shall be (a) a Eurodollar Borrowing, in which case the Borrower shall specify the applicable Interest Period therefor or (b) an Alternate Base Borrowing. Notwithstanding anything to the contrary contained herein, no more than seven (7) Interest Periods shall be in effect at any one time with respect to Eurodollar Borrowings.
Selection of Interest Option. Upon making a Request for Borrowing under Section 2.02(a) hereof, Company shall advise Agent as to whether the Borrowing shall be (i) a LIBOR Borrowing, in which case Company shall specify the applicable Interest Period therefor, or (ii) a Base Rate Borrowing. At any time any portion of a Revolving Credit Loan bears interest determined in relation to LIBOR, it may be continued by Company at the end of the Interest Period applicable thereto so that all or a portion thereof bears interest determined in relation to the Base Rate or to LIBOR for a new Interest Period designated by Company. At any time any portion of a Revolving Credit Loan bears interest determined in relation to the Base Rate, Company may convert all or a portion thereof so that it bears interest determined in relation to LIBOR for an Interest Period designated by Company. At such time as Company requests an Advance or wishes to select a LIBOR option for all or a portion of the outstanding principal balance of the Revolving Credit Loans, and at the end of each Interest Period, Company shall give Agent notice specifying: (i) the interest rate option selected by Company; (ii) the principal amount subject thereto; and (iii) for each LIBOR selection, the length of the applicable Interest Period. Any such notice may be given by telephone so long as, with respect to each LIBOR selection, Agent receives written confirmation from Company not later than 11:00 a.m., Fort Worth time, on the earlier of the day of the Advance or the first day of the Interest Period. For each LIBOR option requested hereunder, Agent will quote the applicable LIBOR interest rate to Company at approximately 10:00 a.m., Fort Worth time, on the first day of the Interest Period. If Company does not immediately accept the rate quoted by Agent, any subsequent acceptance by Company shall be subject to a redetermination by Agent of the applicable LIBOR interest rate; provided however, if Company fails to accept any such rate by 11:00 a.m., Fort Worth time, on the Business Day such quotation is given, then the quoted rate shall expire and Agent shall have no obligation to permit a LIBOR option to be selected on such day. If no specific designation of interest is made at the time any Advance is requested hereunder or at the end of any Interest Period, Company shall be deemed to have made a Base Rate interest selection for such Advance or for the principal amount to which such Interest Period applied. Notwithstanding anything to the co...
Selection of Interest Option. (a) When Borrower requests any Eurodollar Borrowing, Borrower shall elect the applicable interest period (each an "INTEREST PERIOD"), which may be, at Borrower's option, one (1), two (2), or three (3) months during the period of time from the date hereof to the Scheduled Maturity Date, and one (1), two (2), three (3), or six (6) months during the period of time from the Scheduled Maturity Date to the Extended Maturity Date, if applicable, subject to the following conditions: (i) each Interest Period applicable to any Borrowing commences on the day on or after the day when the next preceding applicable Interest Period expires; (ii) if any Interest Period for a Eurodollar Borrowing begins on a day for which there exists no numerically corresponding Business Day in the calendar month at the end of the Interest Period ("ENDING CALENDAR MONTH"), then the Interest Period ends on the next succeeding Business Day of the Ending Calendar Month, unless there is no succeeding Business Day in the Ending Calendar Month in which case the Interest Period ends on the next preceding Business Day of the Ending Calendar Month; and (iii) no Interest Period for any portion of Term Loans may extend beyond the scheduled repayment date for that portion of the Term Loans.
Selection of Interest Option. On making a Notice of Borrowing under SECTION 2.2(a), Borrowers shall advise Lender as to whether the Advance shall be (a) a Eurodollar Borrowing, in which case Borrowers shall specify the applicable Interest Period therefor, or (b) a Base Rate Borrowing. Notwithstanding anything to the contrary contained herein, (a) no more than three (3) Interest Periods shall be in effect at any one time with respect to Eurodollar Borrowings, (b) Borrowers shall have no right to request a Eurodollar Borrowing if the interest rate applicable thereto would exceed the Maximum Rate in effect on the first day of the Interest Period applicable to such Borrowing, and (c) each Eurodollar Borrowing shall be in the amount of $250,000.00 or a greater integral multiple of $50,000.00.
Selection of Interest Option. Aladdin Gaming shall select the applicable interest rate with respect to the Interim Funding Period not less than five (5) Business Days prior to the date on which the initial Funding is made with respect to the Facilities, by written notice to GE Capital. The interest rate option selected by Aladdin Gaming shall remain in effect during the Interim Funding Period.
Selection of Interest Option. (i) Subject to the provisions of this Note, Maker shall have the option to designate that all or any portion of the unpaid principal balance of this Note shall bear RENEWAL PROMISSORY NOTE 4 interest at (A) the Base Rate plus the Applicable Margin, or (B) the Adjusted Eurodollar Rate plus the Applicable Margin:
Selection of Interest Option. (a) When Borrower requests any Eurodollar Borrowing, Borrower shall elect the applicable interest period (each an "Interest Period"), which may be, at Borrower's option, one (1), two (2), three (3), or six (6) months or, if available from all Lenders, twelve (12) months, subject to the following conditions: (i) each Interest Period applicable to any Borrowing commences on the day on or after the day when the next preceding applicable Interest Period expires; (ii) if any Interest Period for a Eurodollar Borrowing begins on a day for which there exists no numerically corresponding Business Day in the calendar month at the end of the Interest Period ("Ending Calendar Month"), then the Interest Period ends on the next succeeding Business Day of the Ending Calendar Month, unless there is no succeeding Business Day in the Ending Calendar Month in which case the Interest Period ends on the next preceding Business Day of the Ending Calendar Month; and (iii) no Interest Period for any portion of Term Loans may extend beyond the scheduled repayment date for that portion of the Term Loans.
Selection of Interest Option. On making a Notice of Borrowing under SECTION 2.2(a), Borrowers shall advise Lender as to whether the Advance shall be (a) a Eurodollar Borrowing, in which case Borrowers shall specify the applicable Interest Period therefor, or (b) a Base Rate Borrowing. Notwithstanding anything to the contrary contained REVOLVING CREDIT AGREEMENT - PAGE 17 -------------------------- (GAINSCO/Bank One) 19 herein, (a) no more than three (3) Interest Periods shall be in effect at any one time with respect to Eurodollar Borrowings, (b) Borrowers shall have no right to request a Eurodollar Borrowing if the interest rate applicable thereto would exceed the Maximum Rate in effect on the first day of the Interest Period applicable to such Borrowing, and (c) each Eurodollar Borrowing shall be in the amount of $250,000.00 or a greater integral multiple of $50,000.00.
Selection of Interest Option. Subject to Section 2.03(d), on making a proper Request For Advance under Section 2.03(a), the Company shall advise Administrative Agent whether the Advance shall be (i) a Eurodollar Advance, in which case the Company shall specify the applicable Interest Period therefor, or (ii) a Prime Rate Advance. By 10:00 a.m. (central time) at least three (3) Business Days before the termination of each Interest Period with respect to an outstanding Eurodollar Advance, the Company shall give Administrative Agent notice in the form of a Request for Advance of the interest option that shall be applicable to that Advance on expiration of the Interest Period (such notice of an interest option as a “Rollover Notice”). The Rollover Notice may be given by: (A) telephone or (B) a form approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible Officer of the Company. If the Company specifies that the Advance shall be a Eurodollar Advance, then the Rollover Notice shall also specify the length of the succeeding Interest Period selected by the Company for the Advance, and if none is selected, the Interest Period shall be one (1) month. Each Rollover Notice is irrevocable and effective on notification thereof to Administrative Agent. If the required Rollover Notice is not timely received by Administrative Agent before the expiration of the then‑relevant Interest Period, then Company shall be deemed to have elected that the Advance be a Prime Rate Advance. With respect to any Prime Rate Advance, Company has the right, on any Business Day, as the case may be (a “Interest Rate Conversion Date”), to convert a Prime Rate Advance to a Eurodollar Advance, by giving Administrative Agent a Rollover Notice of such selection at least three (3) Business Days before the Interest Rate Conversion Date. Each conversion from a Prime Rate Advance to a Eurodollar Advance shall be in a minimum amount of $1,000,000, or any higher multiple of $500,000. Administrative Agent reserves the right to require that the Rollover Notice be given a greater time in advance of expiration of an Interest Period than is stated above, by notifying the Company in writing of the new advanced notice time period. Notwithstanding anything to the contrary contained herein, the Company may not request a Eurodollar Advance if the interest rate applicable thereto under...
