Common use of Type; Interest Elections Clause in Contracts

Type; Interest Elections. (a) Each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurocurrency Rate Borrowing or BA Rate Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the applicable Borrower may elect to convert any Borrowing to a Borrowing of a different Type available in such currency or to continue any Borrowing and, in the case of a Eurocurrency Rate Borrowing or BA Rate Borrowing, may elect Interest Periods therefor, all as provided in this Section. The applicable 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 based upon their Applicable Percentages and the Loans comprising each such portion shall be considered a separate Borrowing. This Section shall not apply to Swingline Loans, which may not be converted or continued.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Bausch Health Companies Inc.), Restatement Agreement (Valeant Pharmaceuticals International, Inc.)

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Type; Interest Elections. (a) Each Borrowing shall initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurocurrency any LIBO Rate Borrowing or BA CDOR Rate Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the applicable Borrower Representative may elect to convert any Borrowing to a Borrowing of a different Type available in such currency or to continue any such Borrowing and, in the case of a Eurocurrency LIBO Rate Borrowing or BA CDOR Rate Borrowing, may elect Interest Periods therefor, all as provided in this Section. The applicable Borrower Representative 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 based upon their Applicable Percentages and the Revolving Loans comprising each such portion shall be considered a separate Borrowing. This Section shall not apply to Swingline Loans, which may not be converted or continued.

Appears in 1 contract

Samples: Credit Agreement (iFit Health & Fitness Inc)

Type; Interest Elections. (a) Each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurocurrency LIBO Rate Borrowing or BA oran Adjusted Term SOFR Rate Borrowing, as applicable, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the applicable thea Borrower may elect to convert any Borrowing to a Borrowing of a different Type available in such currency or to continue any such Borrowing and, in the case of a Eurocurrency LIBO Rate Borrowing or BA oran Adjusted Term SOFR Rate Borrowing, may elect Interest Periods therefor, all as provided in this Section. The applicable TheA 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 based upon their Applicable Percentages and the Loans comprising each such portion shall be considered a separate Borrowing. This Section shall not apply to Swingline Loans, which may not be converted or continued.

Appears in 1 contract

Samples: Lease I Agreement (Bowlero Corp.)

Type; Interest Elections. (a) Each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurocurrency Rate Borrowing or BA Rate Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the applicable Borrower may elect to convert any Borrowing denominated in Dollars to a Borrowing of a different Type available in such currency or to continue any such Borrowing and, in the case of a Eurocurrency Rate Borrowing or BA Rate Borrowing, may elect Interest Periods therefor, all as provided in this Section. The applicable 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 Lenders, based upon their Applicable Percentages of the applicable Class, and the Loans comprising each such portion shall be considered a separate Borrowing. This Section shall not apply to Swingline Loans. Notwithstanding any other provision of this Section 2.07, which the Borrower may not be converted or continuedchange the currency of any Borrowing.

Appears in 1 contract

Samples: Assignment and Assumption (PSAV, Inc.)

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Type; Interest Elections. (a) Each Borrowing shall initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurocurrency Rate Borrowing or BA any LIBO Rate Borrowing, shall have an initial Interest Period as specified in such Borrowing Request; provided that any Revolving Loan Borrowing in a Revolving Alternative Currency shall be a LIBO Rate Borrowing. Thereafter, the applicable Borrower may elect to convert any Borrowing to a Borrowing of a different Type available in such currency or to continue any such Borrowing and, in the case of a Eurocurrency Rate Borrowing or BA LIBO Rate Borrowing, may elect Interest Periods therefor, all as provided in this Section. The applicable 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 based upon their Applicable Percentages and the Loans comprising each such portion shall be considered a separate Borrowing. This Section 2.08 shall not apply to Swingline Loans, which may not be converted or continued.

Appears in 1 contract

Samples: Credit Agreement (Dragoneer Growth Opportunities Corp.)

Type; Interest Elections. (a) Each Borrowing shall initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a any Adjusted Eurocurrency Rate Borrowing or BA Rate Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the applicable Borrower Representative may elect to convert any Borrowing to a Borrowing of a different Type available in such currency or to continue any such Borrowing and, in the case of a an Adjusted Eurocurrency Rate Borrowing or BA Rate Borrowing, may elect Interest Periods therefor, all as provided in this Section. The applicable Borrower Representative 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 based upon their Applicable Percentages and the Loans comprising each such portion shall be considered a separate Borrowing. This Section shall not apply to Swingline Loans, which may not be converted or continued.

Appears in 1 contract

Samples: Pledge and Security Agreement (Nuvei Corp)

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