Common use of Selection of Interest Rate Options Clause in Contracts

Selection of Interest Rate Options. If the Borrower elects to continue a LIBOR Rate Loan but fails to select a new Interest Period to apply thereto, then a one month Interest Period automatically shall apply. If the Borrower fails to duly request the continuation of any Borrowing consisting of LIBOR Rate Loans on or before the date specified and otherwise in accordance with the provisions of this Section 2.3, then such LIBOR Rate Loan automatically shall be converted to a Base Rate Loan, commencing on the last day of the Interest Period then in effect.

Selection of Interest Rate Options. If the Borrower elects to continue a LIBOR Rate Loan but fails to select a new Interest Period to apply thereto, then a one month Interest Period automatically shall apply. If the Borrower fails to duly request the continuation of any Borrowing consisting of LIBOR Rate Loans on or before the date specified and otherwise in accordance with the provisions of this Section 2.32.5, then such LIBOR Rate Loan automatically shall be converted to a Base Rate Loan, commencing interest at the Base Rate Option shall commence on the last day of the existing Interest Period then in effectPeriod.

Selection of Interest Rate Options. If the Borrower elects to continue a the Term Loan under the LIBOR Rate Loan Option but fails to select a new Interest Period to apply thereto, then a one month Interest Period automatically shall apply. If the Borrower fails to duly request the continuation of any Borrowing consisting of under the LIBOR Rate Loans Option or the Quoted Rate Option on or before the date specified and otherwise in accordance with the provisions of this Section 2.3, then such LIBOR the Interest Rate Loan Option automatically shall be converted to a the Base Rate Loan, commencing on the last day of the Interest Period then in effectOption.

Selection of Interest Rate Options. If the Borrower elects to continue a LIBOR Rate Loan but fails to select a new Interest Period to apply thereto, then a one (1) month Interest Period automatically shall apply. If the Borrower fails to duly request the continuation of any Borrowing consisting of LIBOR Rate Loans on or before the date specified and otherwise in accordance with the provisions of this Section 2.32.5, then such LIBOR Rate Loan automatically shall be converted to a Base Rate Loan, commencing interest at the Base Rate Option shall commence on the last day of the existing Interest Period then in effectPeriod.

Selection of Interest Rate Options. If the Borrower elects to continue a LIBOR Rate Loan but fails to select a new Interest Period to apply thereto, then a one month Interest Period automatically shall apply. If the Borrower fails to duly request the continuation of any Borrowing consisting of LIBOR Rate Loans on or before the date specified and otherwise in accordance with the provisions of this Section 2.3, then such LIBOR Rate Loan automatically shall be converted to a Base Rate Loan, commencing interest at the Base Rate Option shall commence on the last day of the existing Interest Period then in effectPeriod.

Selection of Interest Rate Options. If the Borrower elects to continue a the Term Loan under the LIBOR Rate Loan Option but fails to select a new Interest Period to apply thereto, then a one month Interest Period automatically shall apply. If the Borrower fails to duly request the continuation of any Borrowing consisting of under the LIBOR Rate Loans Option on or before the date specified and otherwise in accordance with the provisions of this Section 2.3, then such LIBOR the Interest Rate Loan Option automatically shall be converted to a the Base Rate Loan, commencing on the last day of the Interest Period then in effectOption.

Selection of Interest Rate Options. If the Borrower elects to continue a LIBOR Rate Loan but fails to select a new Interest Period to apply thereto, then a one month Interest Period automatically shall apply. If the Borrower fails to duly request the continuation of any Borrowing consisting of LIBOR Rate Loans on or before the date specified and otherwise in accordance with the provisions of this Section 2.32.5, then such LIBOR Rate Loan automatically shall be converted to continued as a Base LIBOR Rate Loan, commencing on the last day of the Loan with a one month Interest Period then in effectPeriod.

Selection of Interest Rate Options. If the Borrower elects to continue a LIBOR Rate Loan but fails to select a new Interest Period to apply thereto, then a one one-month Interest Period automatically shall apply. If the Borrower fails to duly request the continuation of any Borrowing consisting of LIBOR Rate Loans on or before the date specified and otherwise in accordance with the provisions of this Section 2.32.4, then such LIBOR Rate Loan Loans automatically shall be converted to a Base Floating Rate Loan, commencing on the last day of the Interest Period then in effectLoans.