Common use of Selection of Interest Option Clause in Contracts

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. Upon making a Request for Borrowing Advance under Section 2.02(a) hereof, Borrower Company shall advise Agent Bank as to whether the Borrowing Advance shall be (i) a Eurodollar BorrowingAdvance, in which case Borrower Company 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 BorrowingPrime Advance. At least two three (23) Eurodollar Business Days prior to the termination of each Interest Period with respect to a Eurodollar Borrowing and at least one Advance (1) Business Day prior to the termination of each Interest Period with respect to a CD Advance, (unless whether such termination occurs on before or after the Termination Date) Borrower Company shall give Agent Bank written notice (the "Rollover Notice") of the interest option which shall be applicable to such Borrowing Advance to be rolled over upon the expiration of such Interest Period. If Borrower Company shall specify that such Borrowing Advance shall be a Eurodollar Borrowing or a CD BorrowingAdvance, such Rollover Notice shall also specify the length of the succeeding Interest Period selected by Borrower Company with respect to such BorrowingAdvance. Each Rollover Notice shall be irrevocable and effective upon notification thereof to AgentBank. If the required Rollover Notice shall not have been timely received by Agent Bank prior to the expiration of the then-then relevant Interest Period, then Borrower Company shall be deemed to have elected to have such Borrowing Advance be a Floating Base BorrowingPrime Advance. With respect to any Floating Base BorrowingPrime Advance, Borrower Company shall have the right, on any Eurodollar Business Day or Eurodollar Business Day, as the case may be (a "Conversion Date") to convert such Floating Base Borrowing Prime Advance to a Eurodollar Borrowing or to a CD Borrowing Advance by giving Agent Bank a Rollover Notice of such selection at least two three (23) 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 DateDate if at such time twelve (12) months trailing EBITDA exceeds four million five hundred thousand dollars ($4,500,000). Notwithstanding anything to the contrary contained herein, Borrower Company shall have no right to request a Eurodollar Borrowing or a CD Borrowing Advance if (a) the interest rate applicable thereto under Section 3.02 2.03 hereof would exceed the Maximum Rate in effect on the first day of the Interest Period applicable to such Eurodollar Borrowing Advance, (b) at such time twelve (12) months trailing EBITDA is equal to or CD Borrowingless than four million five hundred thousand dollars ($4,500,000), or (c) if an Event of Default has occurred and is continuing.

Selection of Interest Option. Upon making a Request for Borrowing under Section 2.02(a) hereof, Borrower Company shall advise Administrative Agent as to whether the Borrowing shall be (i) a Eurodollar Borrowing, in which case Borrower Company shall specify the applicable Interest Period therefor, or (ii) a CD Borrowing, in which case the Borrower Company shall specify the applicable Interest Period therefor, or (iii) a Floating Base Borrowing. At least two (2) Business Days or Eurodollar Business Days Days, as the case may be, 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 or a CD Advance, Borrowing (unless whether such termination occurs on before or after the Termination Maturity Date) Borrower Company shall give Administrative 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 Company 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 Company with respect to such BorrowingAdvance. Each Rollover Notice shall be irrevocable and effective upon notification thereof to Administrative Agent. If the required Rollover Notice shall not have been timely received by Administrative Agent prior to the expiration of the then-relevant Interest Period, then Borrower Company shall be deemed to have elected to have such Borrowing be a Floating Base Borrowing. With respect to any Floating Base Borrowing, Borrower Company shall have the right, on any Business Day or Eurodollar Business Day, Day as the case may be (a "Conversion Date") to convert such Floating Base Borrowing to a Eurodollar Borrowing or to a CD Borrowing Borrowing, by giving Administrative Agent a Rollover Notice of such selection at least two (2) Business Days or Eurodollar Business Days (with respect to a Eurodollar Borrowing) and at least one (1) Business Day (with respect to a CD Borrowing)Days, as the case may be, prior to such Conversion Date. Notwithstanding anything to the contrary contained herein, Borrower Company shall have no right to request a Eurodollar Borrowing or a CD Borrowing if the interest rate applicable thereto under Section 3.02 2.03 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. Upon making a Request for Revolving Borrowing under Section 2.02(a) hereof, Borrower Company shall advise Agent as to whether the Borrowing shall be (i) a Eurodollar Borrowing, in which case Borrower Company 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 three (23) 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 whether such termination occurs on before or after the Revolving Credit Termination Date) Borrower Company 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 Company 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 Company 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-then relevant Interest Period, then Borrower Borrowers shall be deemed to have elected to have such Borrowing be a Floating Base Borrowing. With respect to any Floating Base Borrowing, Borrower Borrowers shall have the right, on any Eurodollar 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 three (23) 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 Company shall have no right to request a Eurodollar Borrowing if (1) an Event of Default has occurred and is continuing or a CD Borrowing if (2) the interest rate applicable thereto under Section 3.02 2.03 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. Upon making a Request for Borrowing under Section 2.02(a) hereof, Borrower Borrowers shall advise Agent as to whether the Borrowing shall be (i) a Eurodollar Borrowing, in which case Borrower Borrowers 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 three (23) 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 AdvanceBorrowing, (unless such termination occurs on the Termination Date) Borrower Borrowers 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 Borrowers 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 Borrowers 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-then relevant Interest Period, then Borrower Borrowers shall be deemed to have elected to have such Borrowing be a Floating Base Borrowing. With respect to any Floating Base Borrowing, Borrower Borrowers shall have the right, on any Eurodollar 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 three (23) 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 Borrowers shall have no right to request a Eurodollar Borrowing if (1) an Event of Default has occurred and is continuing or a CD Borrowing if (2) the interest rate applicable thereto under Section 3.02 2.03 hereof would exceed the Maximum Rate in effect on the first day of the Interest Period applicable to such Eurodollar Borrowing Borrowing. Each Rollover Notice shall be irrevocable and binding upon Borrowers, and in respect of the Borrowing, conversion or CD Borrowingextension specified in such Rollover Notice, Borrowers shall indemnify and hold harmless each Bank against any cost, loss or expense incurred by such Bank as a result of any failure to convert or extend as specified in such Rollover Notice, including without limitation, any loss, cost or expense incurred by reason of the liquidation or redeployment of deposits or other funds required by any Bank to fund, convert or extend the Advance specified in such Rollover Notice.

Selection of Interest Option. Upon Subject to Section 2.03(d), on making a proper Request for Borrowing For Advance under Section 2.02(a) hereof2.03(a), Borrower the Company shall advise Administrative Agent as to whether the Borrowing Advance shall be (i) a Eurodollar BorrowingAdvance, in which case Borrower the Company 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 Prime Rate Advance. By 10:00 a.m. (iiicentral standard time) a Floating Base Borrowing. At at least two three (23) Eurodollar Business Days prior to before the termination of each Interest Period with respect to a an outstanding 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 Company shall give Administrative Agent written notice (the "Rollover Notice") of the interest option which that shall be applicable to such Borrowing upon the that Advance on expiration of such the Interest Period. The Rollover Notice shall be given either in writing or by telephone, immediately followed by written notice. If Borrower shall specify the Company specifies that such Borrowing the Advance shall be a Eurodollar Borrowing or a CD BorrowingAdvance, such then the Rollover Notice shall also specify the length of the succeeding Interest Period selected by Borrower with respect to such Borrowingthe Company for the Advance, and if none is selected, the Interest Period shall be one (1) month. Each Rollover Notice shall be is irrevocable and effective upon on notification thereof to Administrative Agent. If the required Rollover Notice shall is not have been timely received by Administrative Agent prior to before the expiration of the then-relevant then‑relevant Interest Period, then Borrower Company shall be deemed to have elected to have such Borrowing that the Advance be a Floating Base BorrowingPrime Rate Advance. With respect to any Floating Base BorrowingPrime Rate Advance, Borrower shall have Company has the right, on any Business Day or Eurodollar Business Day, as the case may be (a "Interest Rate Conversion Date") ), to convert such Floating Base Borrowing a Prime Rate Advance to a Eurodollar Borrowing or to a CD Borrowing Advance, by giving Administrative Agent a Rollover Notice of such selection at least two three (23) Eurodollar Business Days (with respect before the Interest Rate Conversion Date. Each conversion from a Prime Rate Advance to a Eurodollar Borrowing) and at least one (1) Business Day (with respect 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 CD Borrowing)greater time in advance of expiration of an Interest Period than is stated above, prior to such Conversion Dateby notifying the Company in writing of the new advanced notice time period. AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT Notwithstanding anything to the contrary contained herein, Borrower shall have no right to the Company may not request a Eurodollar Borrowing or a CD Borrowing Advance if the interest rate applicable thereto under Section 3.02 hereof 2.05 would exceed the Maximum Rate in effect on the first day of the Interest Period applicable to such the Advance, but may give notice of the rate that it would have selected, which notice shall be controlling for purposes of Section 4.05(c). Each Request For Advance is irrevocable and binding on the Company and, with respect to any Eurodollar Borrowing Advance specified in the Request For Advance, the Company shall indemnify Lenders against any Consequential Loss incurred by Lenders as a result of (i) any failure by the Company to fulfill, on or CD Borrowingbefore the date specified for the Advance, the conditions to the Advance set forth herein, or (ii) the Company's requesting that an Advance not be made on the date specified in the Request For Advance. A certificate of each Lender establishing the amount due from the Company according to the preceding sentence, together with a description in reasonable detail of the manner in which the amount has been computed, is conclusive in the absence of manifest error.

Selection of Interest Option. Upon making a Request for Borrowing under Section 2.02(a) hereof, Borrower Borrowers shall advise Agent as to whether the Borrowing shall be (i) a Eurodollar Borrowing, in which case Borrower Borrowers 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 three (23) 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 AdvanceBorrowing, (unless such termination occurs on the Termination Date) Borrower Borrowers 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 Borrowers 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 Borrowers 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-then relevant Interest Period, then Borrower Borrowers shall be deemed to have elected to have such Borrowing be a Floating Base Borrowing. With respect to any Floating Base Borrowing, Borrower Borrowers shall have the right, on any Eurodollar 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 three (23) 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 Borrowers shall have no right to request a Eurodollar Borrowing or a CD Borrowing if (1) an Event of Default has occurred and is continuing, (2) the interest rate applicable thereto under Section 3.02 2.04 hereof would exceed the Maximum Rate in effect on the first day of the Interest Period applicable to such Eurodollar Borrowing Borrowing, or CD (3) either of the circumstances described in Section 4.01 exist. Each Rollover Notice shall be irrevocable and binding upon Borrowers, and in respect of the Borrowing, conversion or extension specified in such Rollover Notice, Borrowers shall indemnify and hold harmless each Bank against any cost, loss or expense incurred by such Bank as a result of any failure to convert or extend as specified in such Rollover Notice, including without limitation, any loss, cost or expense incurred by reason of the liquidation or redeployment of deposits or other funds required by any Bank to fund, convert or extend the Advance specified in such Rollover Notice.

Selection of Interest Option. Upon making a Request for Borrowing under Section 2.02(a) hereof, Borrower Company shall advise Administrative Agent as to whether the Borrowing shall be (i) a Eurodollar Borrowing, in which case Borrower Company 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 whether such termination occurs on before or after the Termination Maturity Date) Borrower Company shall give Administrative 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 Company 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 Company with respect to such BorrowingAdvance. Each Rollover Notice shall be irrevocable and effective upon notification thereof to Administrative Agent. If the required Rollover Notice shall not have been timely received by Administrative Agent prior to the expiration of the then-relevant Interest Period, then Borrower Company shall be deemed to have elected to have such Borrowing be a Floating Base Borrowing. With respect to any Floating Base Borrowing, Borrower Company shall have the right, on any Eurodollar 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 Borrowing, by giving Administrative 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 Company shall have no right to request a Eurodollar Borrowing or a CD Borrowing if the interest rate applicable thereto under Section 3.02 2.03 hereof would exceed the Maximum Rate in effect on the first day of the Interest Period applicable to such Eurodollar Borrowing or CD Borrowing.