Common use of Subsequent Elections as to Borrowings Clause in Contracts

Subsequent Elections as to Borrowings. A Borrower may elect (a) to continue a Eurocurrency Rate Borrowing, or a portion thereof, as a Eurocurrency Rate Borrowing, or (b) may elect to convert a Eurocurrency Rate Borrowing, or a portion thereof, to a Floating Rate Borrowing or (c) elect to convert a Floating Rate Borrowing, or a portion thereof, to a Eurocurrency Rate Borrowing, in each case by giving notice thereof to the Agent in substantially the form of Exhibit G hereto at the principal office of the Agent and at the Applicable Administrative Office with respect to such Loan not later than 11:00 a.m. local time of the Applicable Administrative Office (i) three Eurocurrency Business Days prior to the date any such continuation of or conversion to a Eurocurrency Rate Borrowing is to be effective, (ii) the date such continuation or conversion is to be effective in all other cases, provided that an outstanding Eurocurrency Rate Borrowing may only be converted on the last day of the then current Interest Period with respect to such Borrowing, and provided, further, if a continuation of a Borrowing as, or a conversion of a Borrowing to, a Eurocurrency Rate Borrowing is requested, such notice shall also specify the Interest Period to be applicable thereto upon such continuation or conversion. The Agent, on the day any such notice is given, shall promptly provide notice of such election to the Banks. If a Borrower shall not timely deliver such a notice with respect to any outstanding Eurocurrency Rate Borrowing, the Borrower shall be deemed to have elected to convert such Eurocurrency Rate Borrowing to a Floating Rate Borrowing on the last day of the then current Interest Period with respect to such Borrowing.

Subsequent Elections as to Borrowings. A Borrower The Company may elect (a) to continue a Eurocurrency Rate LIBOR Borrowing, or a portion thereof, as a Eurocurrency Rate LIBOR Borrowing, or (b) may elect to convert a Eurocurrency LIBOR Borrowing of one type, or a portion thereof, to an Adjusted Corporate Base Rate Borrowing, or (c) elect to convert an Adjusted Corporate Base Rate Borrowing, or a portion thereof, to a Floating Rate Borrowing or (c) elect to convert a Floating Rate Borrowing, or a portion thereof, to a Eurocurrency Rate LIBOR Borrowing, in each case by giving notice thereof to the Agent in substantially the form of Exhibit G I hereto at the principal office of the Agent and at the Applicable Administrative Office with respect to such Loan not later than 11:00 a.m. local Chicago time of the Applicable Administrative Office (i) three Eurocurrency LIBOR Business Days prior to the date any such continuation of or conversion to a Eurocurrency Rate LIBOR Borrowing is to be effective, (ii) effective and not later than noon Chicago time on the date Business Day such continuation or conversion is to be effective in all other cases, provided that an outstanding Eurocurrency Rate LIBOR Borrowing may only be continued or converted on the last day of the then current LIBOR Interest Period with respect to such Borrowing, and provided, further, if a continuation of a Borrowing as, or a conversion of a Borrowing to, a Eurocurrency Rate LIBOR Borrowing is requested, such notice shall also specify the LIBOR Interest Period to be applicable thereto upon such continuation or conversion. The Agent, reasonably promptly on the day any Business Day such notice is given, shall promptly provide notice of such election to the BanksRevolving Lenders. If a Borrower the Company shall not timely deliver such a notice with respect to any outstanding Eurocurrency Rate LIBOR Borrowing, the Borrower Company shall be deemed to have elected to convert such Eurocurrency Rate LIBOR Borrowing to a Floating an Adjusted Corporate Base Rate Borrowing on the last day of the then current LIBOR Interest Period with respect to such Borrowing.

Subsequent Elections as to Borrowings. A Borrower The Treasury Manager may elect (a) to continue a Eurocurrency Fixed Rate BorrowingRevolving Credit Borrowing of one type, or a portion thereof, as a Eurocurrency Fixed Rate BorrowingRevolving Credit Borrowing of the then existing type, or (b) may elect to convert a Eurocurrency Fixed Rate Revolving Credit Borrowing, or a portion thereof, to a Floating Rate Borrowing of another type or (c) elect to convert a Floating Rate Borrowing, or a portion thereof, to a Eurocurrency Fixed Rate Revolving Credit Borrowing, in each case by giving notice thereof to the Agent in substantially the form of Exhibit G K hereto at the principal office of the Agent and at the Applicable Administrative Lending Office of the Agent with respect to such Loan not later than 11:00 10:00 a.m. local time of the Applicable Administrative Lending Office (i) three Eurocurrency (3) Interbank Business Days prior to the date any such continuation of or conversion to a Eurocurrency Interbank Offered Rate Revolving Credit Borrowing is to be effective, effective and (ii) the date such continuation or conversion is to be effective in all other cases, provided that an outstanding Eurocurrency Fixed Rate Revolving Credit Borrowing may only be converted on the last day of the then current Interest Period with respect to such Borrowing, and provided, further, if a continuation of a Borrowing as, or a conversion of a Borrowing to, a Eurocurrency Fixed Rate Revolving Credit Borrowing is requested, such notice shall also specify the Interest Period to be applicable thereto upon such continuation or conversion. The Agent, on the day any such notice is given, shall promptly provide notice of such election to the Banks. If a Borrower the Treasury Manager shall not timely deliver such a notice with respect to any outstanding Eurocurrency Fixed Rate Revolving Credit Borrowing, the Borrower shall be deemed to have elected to convert such Eurocurrency Fixed Rate Revolving Credit Borrowing to a Floating Rate Borrowing on the last day of the then current Interest Period with respect to such Borrowing.

Subsequent Elections as to Borrowings. A The applicable Borrower may elect (a) to continue a Eurocurrency Rate LIBOR Borrowing, or a portion thereof, as a Eurocurrency Rate Borrowing, LIBOR Borrowing or (b) may elect to convert a Eurocurrency LIBOR Borrowing or a portion thereof to a Floating Rate Borrowing, (c) to convert a Floating Rate Borrowing to a LIBOR Borrowing, (d) to continue an Acceptance or a portion thereof, as an Acceptance or (e) to convert an Acceptance or a portion thereof to a Floating Rate Borrowing or (c) elect to convert a Floating Rate Borrowing, or a portion thereof, to a Eurocurrency Rate Borrowing, in each case by giving notice thereof to the Agent (with sufficient executed copies for each Lender) in substantially the form of Exhibit G L hereto at the principal office of the Agent and at the Applicable Administrative Office with respect to such Loan not later than 11:00 a.m. local 1:00 p.m. Detroit time of the Applicable Administrative Office (i) three Eurocurrency LIBOR Business Days prior to the date any such continuation of or conversion to a Eurocurrency Rate LIBOR Borrowing is to be effective, (ii) not later than 1:00 p.m. Toronto time three Business Days prior to the date any such continuation of or conversion to an Acceptance is to be effective and not later than 1:00 p.m. Detroit time one Business Day prior to the date of any such continuation or conversion is to be effective in all other cases, provided that an outstanding Eurocurrency Rate LIBOR Borrowing or Acceptance Borrowing may only be converted on the last day of the then current Interest Period with respect to such Borrowing, and provided, further, if a continuation of a Borrowing as, or a conversion of a Borrowing to, a Eurocurrency Rate LIBOR Borrowing or Acceptance Borrowing is requested, such notice shall also specify the Interest Period to be applicable thereto upon such continuation or conversion. The Agent, on not later than the Business Day next succeeding the day any such notice is given, shall promptly provide notice of such election to the BanksLenders. If a the applicable Borrower shall not timely deliver such a notice with respect to any outstanding Eurocurrency Rate LIBOR Borrowing or Acceptance Borrowing, the such Borrower shall be deemed to have elected to convert such Eurocurrency Rate LIBOR Borrowing or Acceptance Borrowing to a Floating Rate Borrowing on the last day of the then current Interest Period with respect to such Borrowing.

Subsequent Elections as to Borrowings. A Borrower may elect (a) to continue a Eurocurrency Rate Borrowing, or a portion thereof, as a Eurocurrency Rate Borrowing, or (b) may elect to convert a Eurocurrency Rate Borrowing, or a portion thereof, to a Floating Rate Borrowing or (c) elect to convert a Floating Rate Borrowing, or a portion thereof, to a Eurocurrency Rate Borrowing, or (d) elect to convert a Loan denominated in a Permitted Currency to a Loan denominated in another Permitted Currency, in each case by giving notice thereof to the Agent in substantially the form of Exhibit G hereto at the principal office of the Agent and at the Applicable Administrative Office with respect to such Loan not later than 11:00 a.m. local time of the Applicable Administrative Office (i) three Eurocurrency Business Days prior to the date any such continuation of or conversion to a Eurocurrency Rate Borrowing is to be effective, effective and (ii) the date such continuation or conversion is to be effective in all other cases, provided that an outstanding Eurocurrency Rate Borrowing may only be converted on the last day of the then current Interest Period with respect to such Borrowing, and provided, further, if a continuation of a Borrowing as, or a conversion of a Borrowing to, a Eurocurrency Rate Borrowing is requested, such notice shall also specify the Interest Period to be applicable thereto upon such continuation or conversion. The Agent, on the day any such notice is given, shall promptly provide notice of such election to the Banks. If a Borrower shall not timely deliver such a notice with respect to any outstanding Eurocurrency Rate Borrowing, the Borrower shall be deemed to have elected to convert such Eurocurrency Rate Borrowing to a Floating Rate Borrowing on the last day of the then current Interest Period with respect to such Borrowing.

Subsequent Elections as to Borrowings. A Borrower The Treasury Manager may elect (a) to continue a Eurocurrency Fixed Rate BorrowingRevolving Credit Borrowing of one type, or a portion thereof, as a Eurocurrency Fixed Rate BorrowingRevolving Credit Borrowing of the then existing type, or (b) may elect to convert a Eurocurrency Fixed Rate Revolving Credit Borrowing, or a portion thereof, to a Floating Rate Borrowing of another type or (c) elect to convert a Floating Rate Borrowing, or a portion thereof, to a Eurocurrency Fixed Rate Revolving Credit Borrowing, in each case by giving notice thereof to the Agent in substantially the form of Exhibit G K hereto at the principal office of the Agent and at the Applicable Administrative Office Lending Installation of the Agent with respect to such Loan not later than 11:00 10:00 a.m. local time of the Applicable Administrative Office Lending Installation (i) three (3) Eurocurrency Business Days prior to the date any such continuation of or conversion to a Eurocurrency Rate Revolving Credit Borrowing is to be effective, effective and (ii) the date such continuation or conversion is to be effective in all other cases, provided that an outstanding Eurocurrency Fixed Rate Revolving Credit Borrowing may only be converted on the last day of the then current Interest Period with respect to such Borrowing, and provided, further, if a continuation of a Borrowing as, or a conversion of a Borrowing to, a Eurocurrency Fixed Rate Revolving Credit Borrowing is requested, such notice shall also specify the Interest Period to be applicable thereto upon such continuation or conversion. The Agent, on the day any such notice is given, shall promptly provide notice of such election to the Banks. If a Borrower the Treasury Manager shall not timely deliver such a notice with respect to any outstanding Eurocurrency Fixed Rate Revolving Credit Borrowing, the Borrower shall be deemed to have elected with respect to any Loan denominated in Dollars, to convert such Eurocurrency Fixed Rate Revolving Credit Borrowing to a Floating Rate Borrowing on the last day of the then current Interest Period with respect to such Borrowing and, with respect to any other Loan, to continue such Loan as a Fixed Rate Borrowing of the same type with an Interest Period of one month on the last day of the then current Interest Period with respect to such Borrowing.

Subsequent Elections as to Borrowings. A As to Revolving Credit Loans, a Borrower may elect (a) to continue a Eurocurrency Fixed Rate Borrowing, or a portion thereof, as a Eurocurrency Fixed Rate Borrowing, Borrowing or (b) may elect to convert a Eurocurrency Eurodollar Rate Borrowing, or a portion thereof, to a Floating Rate Borrowing or and (c) elect to convert a Floating Rate Borrowing, or a portion thereof, to a Eurocurrency Eurodollar Rate Borrowing, in each case by giving notice thereof to the Agent in substantially the form of Exhibit G K hereto at the principal office of the Agent and at the Applicable Administrative Office with respect to such Loan not later than 11:00 10:00 a.m. Detroit time three LIBOR Business Days prior to the date any such continuation of or conversion to a Eurodollar Borrowing is to be effective, 10:00 a.m. local time of the Applicable Administrative Office (i) three Eurocurrency five LIBOR Business Days prior to the date any such continuation of or conversion to a Eurocurrency Rate Borrowing is to be effective, (ii) effective and not later than 10:00 a.m. Detroit time one Business Day prior to the date such continuation or conversion is to be effective in all other cases, provided that an outstanding Eurocurrency Rate Eurodollar Borrowing may only be converted on the last day of the then current Interest Period with respect to such Borrowing, and provided, further, if a continuation of a Borrowing as, or a conversion of a Borrowing to, a Eurocurrency Rate Eurodollar Borrowing is requested, such notice shall also specify the Interest Period to be applicable thereto upon such continuation or conversionconversion and no Event of Default or Unmatured Event shall have occurred and be continuing. The Agent, on the day any such notice is given, Agent shall promptly provide notice of such election to the BanksLenders. If a Borrower the Company shall not timely deliver such a notice with respect to any outstanding Eurocurrency Rate Eurodollar Borrowing, the Borrower Company shall be deemed to have elected to convert such Eurocurrency Rate Eurodollar Borrowing to a an Floating Rate Borrowing on the last day of the then current Interest Period with respect to such Borrowing. If a Borrowing Subsidiary shall not timely deliver such notice with respect to any outstanding Eurocurrency Borrowing, such Borrower shall be deemed to have elected to convert such Eurocurrency Borrowing to a Eurocurrency Borrowing with an Interest Period of one month on the last day of the then current Interest Period with respect to such Borrowing.

Subsequent Elections as to Borrowings. A Borrower The Company may elect (a) to continue a Eurocurrency Rate Borrowing, or a portion thereof, as a Eurocurrency Rate Borrowing, Borrowing or (b) may elect to convert a Eurocurrency Rate Borrowing, or a portion thereof, to a Floating Rate Borrowing or (c) elect to convert a Floating Rate Borrowing, or a portion thereof, to a Eurocurrency Rate Borrowing, or (d) elect to convert a Borrowing denominated in a Permitted Currency to a Borrowing denominated in another Permitted Currency, in each case by giving notice thereof to the Administrative Agent in substantially the form of Exhibit G hereto at the principal office of the Agent and at the Applicable Administrative Office with respect to such Loan not later than 11:00 a.m. local New York City time of the Applicable Administrative Office (i) three Eurocurrency Business Days prior to the date any such continuation of or conversion to a Eurocurrency Rate Borrowing is to be effective, (ii) effective and not later than 11:00 a.m. New York City time one Business Day prior to the date such continuation or conversion is to be effective in all other cases, provided that an outstanding Eurocurrency Rate Borrowing may only be converted on the last day of the then current Eurocurrency Interest Period with respect to such Borrowing, and provided, further, if that a Revolving Credit Loan may not be converted to a Swing Line Loan or a Competitive Loan. If a continuation of a Borrowing as, or a conversion of a Borrowing to, a Eurocurrency Rate Borrowing is requested, such notice shall also specify the Eurocurrency Interest Period to be applicable thereto upon such continuation or conversion. The Agent, on the day any such notice is given, Administrative Agent shall promptly provide notice of such election to the Banks. If a Borrower the Company shall not timely deliver such a notice with respect to any outstanding Eurocurrency Rate Borrowing, the Borrower Company shall be deemed to have elected to convert such Eurocurrency Credit Agreement 32 - 27 - Rate Borrowing to a Floating Rate Borrowing on the last day of the then current Eurocurrency Interest Period with respect to such Borrowing.

Subsequent Elections as to Borrowings. A Borrower The Company may elect (a) to continue a Eurocurrency Rate BorrowingLIBOR Borrowing of one type, or a portion thereof, as a Eurocurrency Rate Borrowing, LIBOR Borrowing of the then existing type or (b) may elect to convert a Eurocurrency LIBOR Borrowing of one type, or a portion thereof, to a Borrowing of another type or (c) elect to convert an Adjusted Corporate Base Rate Borrowing, or a portion thereof, to a Floating Rate Borrowing or (c) elect to convert a Floating Rate Borrowing, or a portion thereof, to a Eurocurrency Rate LIBOR Borrowing, in each case by giving notice thereof to the Agent in substantially the form of Exhibit G H hereto at the principal office of the Agent and at the Applicable Administrative Office with respect to such Loan not later than 11:00 a.m. local Chicago time of the Applicable Administrative Office (i) three Eurocurrency LIBOR Business Days prior to the date any such continuation of or conversion to a Eurocurrency Rate LIBOR Borrowing is to be effective, (ii) effective and not later than noon Chicago time on the Business Day date such continuation or conversion is to be effective in all other cases, provided that an outstanding Eurocurrency Rate LIBOR Borrowing may only be converted on the last day of the then current LIBOR Interest Period with respect to such Borrowing, and provided, further, if a continuation of a Borrowing as, or a conversion of a Borrowing to, a Eurocurrency Rate LIBOR Borrowing is requested, such notice shall also specify the LIBOR Interest Period to be applicable thereto upon such continuation or conversion. The Agent, reasonably promptly on the day any Business Day such notice is given, shall promptly provide notice of such election to the Banksrelevant Lenders. If a Borrower the Company shall not timely deliver such a notice with respect to any outstanding Eurocurrency Rate LIBOR Borrowing, the Borrower Company shall be deemed to have elected to convert such Eurocurrency Rate LIBOR Borrowing to a Floating an Adjusted Corporate Base Rate Borrowing on the last day of the then current LIBOR Interest Period with respect to such Borrowing.