Common use of Subsequent Elections as to Borrowings Clause in Contracts

Subsequent Elections as to Borrowings. The Borrower may elect (a) to continue a Eurodollar Rate Borrowing, or a portion thereof, as a Eurodollar Rate Borrowing, or (b) may elect to convert a Eurodollar 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 Eurodollar Rate Borrowing, in each case by giving notice thereof to the Administrative Agent (with sufficient executed copies for each Lender) in substantially the form of Exhibit E hereto not later than 10:00 a.m. Chicago time (i) three Eurodollar Business Days prior to the date any such continuation of or conversion to a Eurodollar 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 Eurodollar Rate Borrowing may only be converted on the last day of the then current Eurodollar 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 Eurodollar Rate Borrowing is requested, such notice shall also specify the Eurodollar Interest Period to be applicable thereto upon such continuation or conversion. The Administrative Agent, on the day such notice is given in the event of an election to convert or continue a Floating Rate Borrowing, and not later than the Business Day next succeeding the day such notice is given in all other cases, shall provide notice of such election to the Lenders. If the Borrower shall not timely deliver such a notice with respect to any outstanding Eurodollar Rate Borrowing, the Borrower shall be deemed to have elected to convert such Eurodollar Rate Borrowing to a Floating Rate Borrowing on the last day of the then current Eurodollar Interest Period with respect to such Borrowing.

Subsequent Elections as to Borrowings. The Borrower may elect (a) to Each Revolving Credit Loan outstanding as a Floating Rate Loan shall continue as a Floating Rate Loan until the end of the then-applicable Floating Rate Interest Period therefor, at which time such Floating Rate Loan shall be automatically converted into a Floating Rate Loan with a Floating Rate Interest Period of five (5) days unless the Company shall have given the Agent irrevocable notice substantially in the form of EXHIBIT C hereto (a "Conversion/Continuation Notice") requesting that, at the end of such Floating Rate Interest Period, such Floating Rate Loan either continue as a Floating Rate Loan for the same or another Floating Rate Interest Period or be converted into a Eurodollar Rate Borrowing, or Loan for a portion thereof, specified Eurodollar Interest Period. (b) Each Revolving Credit Loan outstanding as a Eurodollar Rate Borrowing, or (b) may elect to convert Loan shall continue as a Eurodollar Rate BorrowingLoan until the end of the then-applicable Eurodollar Interest Period therefor, or a portion thereof, to at which time such Eurodollar Rate Loan shall be automatically converted into a Floating Rate BorrowingLoan with a Floating Rate Interest Period of five (5) days unless the Company shall have given the Agent a Conversion/Continuation Notice requesting that, at the end of such Eurodollar Interest Period, such Eurodollar Rate Loan either continue as a Eurodollar Rate Loan for the same or another Eurodollar Interest Period or be converted into a Floating Rate Loan for a specified Floating Rate Interest Period. (c) Subject to the terms of Sections 2.8 and 3.2, the Company may elect from time to time to convert a Floating Rate Borrowing, all or a portion thereof, to a Eurodollar Rate Borrowing, in each case by giving notice thereof to the Administrative Agent (with sufficient executed copies for each Lender) in substantially the form any part of Exhibit E hereto not later than 10:00 a.m. Chicago time (i) three Eurodollar Business Days prior to the date any such continuation Revolving Credit Loan of any type into any other type or types of Loan; provided that any conversion to a Eurodollar Rate Borrowing is to of any Revolving Credit Loan shall be effective, (ii) the date such continuation or conversion is to be effective in all other cases, PROVIDED that an outstanding Eurodollar Rate Borrowing may made only be converted on the last day of the then current Interest Period applicable thereto. (d) Each Term Loan outstanding as a Eurodollar Rate Loan shall continue as a Eurodollar Rate Loan until the end of the then-applicable Eurodollar Interest Period therefor, at which time such Eurodollar Rate Loan shall be automatically converted into a Eurodollar Rate Loan with respect to a Eurodollar Interest Period of one (1) month unless the Company shall have given the Agent a Conversion/Continuation Notice requesting that, at the end of such BorrowingEurodollar Interest Period, and PROVIDED, FURTHER, if such Eurodollar Rate Loan continue as a Eurodollar Rate Loan for the same or another Eurodollar Interest Period. (e) The Company shall give the Agent a Conversion/Continuation Notice of each conversion or continuation of a Borrowing asLoan not later than 10:00 a.m. (Indianapolis time) at least one Business Day, in the case of a conversion into or continuation of a Floating Rate Loan, or three Eurodollar Business Days, in the case of a conversion into or continuation of a Borrowing to, a Eurodollar Rate Borrowing Loan, prior to the date of the requested conversion or continuation, specifying (i) the requested date, which shall be a Business Day, of such conversion or continuation; (ii) the aggregate amount and type of the Loan which is requested, to be converted or continued; and (iii) the amount and type(s) of Loan(s) into which such notice shall also specify Loan is to be converted or continued and the Eurodollar duration of the Interest Period to be applicable thereto upon such continuation or conversionthereto. The Administrative Agent, on the day such notice is given in the event Agent shall notify each Bank of an election to convert (i) each requested conversion into or continue continuation of a Floating Eurodollar Rate Borrowing, and Loan not later than the Business Day next succeeding the day such notice is given in all other cases, shall provide notice and (ii) each requested conversion into or continuation of such election to the Lenders. If the Borrower shall not timely deliver such a notice with respect to any outstanding Eurodollar Rate Borrowing, the Borrower shall be deemed to have elected to convert such Eurodollar Rate Borrowing to a Floating Rate Borrowing Loan not later than Noon Indianapolis time on the last day of Business Day the then current Eurodollar Interest Period with respect to such BorrowingAgent receives the request.

Subsequent Elections as to Borrowings. The Borrower may elect (a) to continue a Eurodollar Rate Borrowing, or a portion thereof, as a Eurodollar Rate Borrowing, or (b) may elect to convert a Eurodollar 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 Eurodollar Rate Borrowing, in each case by giving notice thereof to the Administrative Agent (with sufficient executed copies for each Lender) in substantially the form of Exhibit E I hereto not later than 10:00 a.m. Chicago time (i) three Eurodollar Business Days prior to the date any such continuation of or conversion to a Eurodollar 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 Eurodollar Rate Borrowing may only be converted on the last day of the then current Eurodollar 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 Eurodollar Rate Borrowing is requested, such notice shall also specify the Eurodollar Interest Period to be applicable thereto upon such continuation or conversion. The Administrative Agent, on the day such notice is given in the event of an election to convert or continue a Floating Rate Borrowing, and not later than the Business Day next succeeding the day such notice is given in all other cases, shall provide notice of such election to the Lenders. If the Borrower shall not timely deliver such a notice with respect to any outstanding Eurodollar Rate Borrowing, the Borrower shall be deemed to have elected to convert such Eurodollar Rate Borrowing to a Floating Rate Borrowing on the last day of the then current Eurodollar Interest Period with respect to such Borrowing.

Subsequent Elections as to Borrowings. The Any Borrower may elect (a) to continue a Eurodollar Eurocurrency Rate BorrowingBorrowing of one type, or a portion thereof, as a Eurodollar Eurocurrency Rate BorrowingBorrowing of the then existing type, or (b) may elect to convert a Eurodollar Eurocurrency Rate Borrowing, or a portion thereof, to a Floating Rate Borrowing, Borrowing of another type or (c) elect to convert a Floating Rate Borrowing, or a portion thereof, to a Eurodollar Eurocurrency Rate Borrowing, in each case by giving notice thereof to the Administrative Agent (with sufficient executed copies for each Lender) in substantially the form of Exhibit E F hereto not later than 10:00 a.m. Chicago Detroit time (i) three Eurodollar Eurocurrency Business Days prior to the date any such continuation of or conversion to a Eurodollar Eurocurrency Rate Borrowing denominated in Dollars is to be effective, (ii) five Eurocurrency Business Days prior to the date any such continuation of or conversion to a Eurocurrency Rate Borrowing denominated in any Optional Currency is to be effective and (iii) the date such continuation or conversion is to be effective in all other cases, PROVIDED provided that an outstanding Eurodollar Eurocurrency Rate Borrowing may only be converted on the last day of the then current Eurodollar Interest Period with respect to such Borrowing, and PROVIDEDprovided, FURTHERfurther, if a continuation of a Borrowing as, or a conversion of a Borrowing to, a Eurodollar Eurocurrency Rate Borrowing is requested, such notice shall also specify the Eurodollar Interest Period to be applicable thereto upon such continuation or conversionconversion and provided, further, that Loans may not be converted from one Permitted Currency to a different Permitted Currency. The Administrative Agent, on the day any such notice is given in the event of an election to convert or continue a Floating Rate Borrowing, and not later than the Business Day next succeeding the day such notice is given in all other casesgiven, shall provide notice of such election to the LendersBanks. If the any Borrower shall not timely deliver such a notice with respect to any outstanding Eurodollar Eurocurrency Rate Borrowing, the Borrower shall be deemed to have elected to convert such Eurodollar Eurocurrency Rate Borrowing to a Floating Rate Borrowing on the last day of the then current Eurodollar Interest Period with respect to such Borrowing, provided that such Loans owing in any Optional Currency shall not be automatically converted but shall be due and payable at the end of the relevant Interest Period.

Subsequent Elections as to Borrowings. The Borrower Treasury Manager may elect (a) to continue a Eurodollar Fixed Rate Borrowing, Revolving Credit Borrowing or a portion thereof, as a Eurodollar Fixed Rate Borrowing, Revolving Credit Borrowing or (b) may elect to convert a Eurodollar 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 Eurodollar Fixed Rate Revolving Credit Borrowing, in each case by giving notice thereof to the Administrative Agent (with sufficient executed copies for each Lender) in substantially the form of Exhibit E K hereto at the principal office of the Agent and at the Applicable Lending Office of the Agent with respect to such Loan not later than 10:00 a.m. Chicago local time of the Applicable Lending Office (i) three Eurodollar (3) Eurocurrency Business Days prior to the date any such continuation of or conversion to a Eurodollar 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 provided that an outstanding Eurodollar Fixed Rate Revolving Credit Borrowing may only be converted on the last day of the then current Eurodollar Interest Period with respect to such Borrowing, and PROVIDEDprovided, FURTHERfurther, if a continuation of a Borrowing as, or a conversion of a Borrowing to, a Eurodollar Fixed Rate Revolving Credit Borrowing is requested, such notice shall also specify the Eurodollar Interest Period to be applicable thereto upon such continuation or conversion. The Administrative Agent, on the day any such notice is given in the event of an election to convert or continue a Floating Rate Borrowing, and not later than the Business Day next succeeding the day such notice is given in all other casesgiven, shall provide notice of such election to the LendersBanks. If the Borrower Treasury Manager shall not timely deliver such a notice with respect to any outstanding Eurodollar Fixed Rate Revolving Credit Borrowing, the Borrower shall be deemed to have elected with respect to any Loan denominated in Dollars, to convert such Eurodollar Fixed Rate Revolving Credit Borrowing to a Floating Rate Borrowing on the last day of the then current Eurodollar 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.