Common use of Type; Interest Elections Clause in Contracts

Type; Interest Elections. (a) Loans shall initially be of the Type specified in the applicable Borrowing Request and, in the case of a LIBO Rate Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to convert all or any portion of any Borrowing (subject to the minimum amounts for Borrowings of the applicable Type specified in Section 2.02(c)) to a different Type or to continue such Borrowing and, in the case of a LIBO Rate Borrowing, may elect Interest Periods therefor, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing.

Appears in 3 contracts

Samples: Credit Agreement (TransDigm Group INC), Credit Agreement (TransDigm Group INC), Credit Agreement (TransDigm Group INC)

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Type; Interest Elections. (a) Loans Each Borrowing shall initially be of the Type specified in the applicable Borrowing Request and, in the case of a any LIBO Rate Borrowing or Term Benchmark Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, subject to the first sentence of Section 2.02(b), the Borrower may elect to convert all or any portion of any Borrowing (subject to the minimum amounts for Borrowings a Borrowing of the applicable Type specified in Section 2.02(c)) to a different Type or to continue such Borrowing and, in the case of a LIBO Rate Borrowing or Term Benchmark Borrowing, may elect Interest Periods therefor, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, based upon their Applicable Percentages and the Loans comprising each such portion shall be considered a separate Borrowing.

Appears in 2 contracts

Samples: Term Loan Credit Agreement (Blackstone Mortgage Trust, Inc.), Term Loan Credit Agreement (Blackstone Mortgage Trust, Inc.)

Type; Interest Elections. (a) Loans Each Borrowing initially shall initially be of the Class and Type specified in the applicable Borrowing Request (except with respect to a Swing Line Loan, which can be made and maintained as an ABR Borrowing only) and, in the case of a LIBO Rate Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower Borrowers may elect to convert all or any portion of any such Borrowing (subject to the minimum amounts for Borrowings of the applicable Type specified in Section 2.02(c)) to a different Type or to continue such Borrowing and, in the case of a LIBO Rate Borrowing, may elect Interest Periods therefor, all as provided in this SectionSection 2.09. The Borrower Borrowers may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such BorrowingLenders, based upon their Applicable Percentages and the Loans comprising each such portion shall be considered a separate Borrowing.

Appears in 2 contracts

Samples: Credit Agreement, Credit Agreement (Allscripts Healthcare Solutions, Inc.)

Type; Interest Elections. (a) Loans Each Borrowing initially shall initially be of the Type specified in the applicable Borrowing Request and, in the case of a LIBO SOFR Borrowing or Eurocurrency Rate Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to convert all or any portion of any Borrowing (subject to the minimum amounts for Borrowings a Borrowing of the applicable Type specified in Section 2.02(c)) to a different Type available in such currency or to continue such Borrowing and, in the case of a LIBO SOFR Borrowing or Eurocurrency Rate Borrowing, may elect Interest Periods therefor, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, based upon their Applicable Percentages and the Loans comprising each such portion shall be considered a separate Borrowing.

Appears in 2 contracts

Samples: First Lien Credit Agreement (Ranpak Holdings Corp.), First Lien Credit Agreement (Ranpak Holdings Corp.)

Type; Interest Elections. (a) Loans shall initially be of the Type specified in the applicable Borrowing Request and, in the case of a LIBO Rate Eurocurrency Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to convert all or any portion of any Borrowing (subject to the minimum amounts for Borrowings of the applicable Type specified in Section 2.02(c)) to a different Type or to continue such Borrowing and, in the case of a LIBO Rate Eurocurrency Borrowing, may elect Interest Periods therefor, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing.

Appears in 2 contracts

Samples: Credit Agreement (TransDigm Group INC), Credit Agreement (TransDigm Group INC)

Type; Interest Elections. (a) Loans Each Borrowing initially shall initially be of the Type specified in the applicable Borrowing Request and, in the case of a LIBO Rate Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to convert all or any portion of any Borrowing (subject to the minimum amounts for Borrowings a Borrowing of the applicable Type specified in Section 2.02(c)) to a different Type or to continue such Borrowing and, in the case of a LIBO Rate Borrowing, may elect Interest Periods therefor, all as provided in this SectionSection 2.08; provided that Tranche B-2 Term Loans shall be LIBO Rate Borrowings at all times. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, based upon their Applicable Percentages and the Loans comprising each such portion shall be considered a separate Borrowing.

Appears in 1 contract

Samples: Patent Security Agreement (PQ Group Holdings Inc.)

Type; Interest Elections. (a) Loans shall initially be of the Type specified in the applicable Borrowing Request and, in the case of a LIBO Rate Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to convert all or any portion of any Borrowing (subject to the minimum amounts for Borrowings of the applicable Type specified in Section 2.02(c)) to a different Type or to continue such Borrowing and, in the case of a LIBO Rate Borrowing, may elect Interest Periods therefor, all as provided in this SectionSection 2.05. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing.

Appears in 1 contract

Samples: Revolving Credit Agreement (Sunpower Corp)

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Type; Interest Elections. (a) Loans shall initially be of the Type specified in the applicable Borrowing Request and, in the case of a LIBO LIBOR Rate Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to convert all or any portion of any Borrowing (subject to the minimum amounts for Borrowings of the applicable Type specified in Section 2.02(c)) to a different Type or to continue such Borrowing and, in the case of a LIBO LIBOR Rate Borrowing, may elect Interest Periods therefor, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Transdigm Inc)

Type; Interest Elections. (aab) Loans Each Borrowing shall initially be of the Type specified in the applicable Borrowing Request and, in the case of a any LIBO Rate Borrowing or Term Benchmark Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, subject to the first sentence of Section 2.02(b), the Borrower may elect to convert all or any portion of any Borrowing (subject to the minimum amounts for Borrowings a Borrowing of the applicable Type specified in Section 2.02(c)) to a different Type or to continue such Borrowing and, in the case of a LIBO Rate Borrowing or Term Benchmark Borrowing, may elect Interest Periods therefor, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, based upon their Applicable Percentages and the Loans comprising each such portion shall be considered a separate Borrowing.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Blackstone Mortgage Trust, Inc.)

Type; Interest Elections. (a) Loans Each Borrowing initially shall initially be of the Type specified in the applicable Borrowing Request and, in the case of a LIBO Rate Borrowing or a Term SOFR Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to convert all or any portion of any Borrowing (subject to the minimum amounts for Borrowings a Borrowing of the applicable Type specified in Section 2.02(c)) to a different Type or to continue such Borrowing and, in the case of a LIBO Rate Borrowing or a Term SOFR Borrowing, may elect Interest Periods therefor, all as provided in this SectionSection 2.08. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding for the Loans comprising relevant Class based upon their Applicable Percentages for such Borrowing, Class and the Loans of such Class comprising each such portion shall be considered a separate Borrowing.

Appears in 1 contract

Samples: First Lien Credit Agreement (Hayward Holdings, Inc.)

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