Interest Election definition

Interest Election means an election by the Borrower to change or continue the Interest Type of a Borrowing in accordance with Section 2.07.

Interest Election. Request is submitted for the purpose of:

Interest Election has the meaning provided in Section 2.04(a).

Examples of Interest Election in a sentence

• If the Borrower fails to deliver a timely Interest Election Request with respect to a Term SOFR Borrowing prior to the end of the Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period such Borrowing shall be converted to a Term SOFR Borrowing with a one month Interest Period.

• Promptly following receipt of an Interest Election Request, the Administrative Agent shall advise each Lender of the details thereof and of such Lxxxxx’s portion of each resulting Borrowing.

• Each Interest Election Request delivered by telephone or electronic communication shall be irrevocable and shall be confirmed promptly (but no later than the close of business on the date of such request) by hand delivery, telecopy or electronic communication to the Administrative Agent of a written Interest Election Request in a form approved by the Administrative Agent and signed by the Borrower.

• If an Equity Conditions Failure has occurred as of the Interest Notice Date, then unless the Company has elected to pay such Interest as Cash Interest, the Interest Election Notice shall indicate that unless the Holder waives the Equity Conditions Failure, the Interest shall be paid as Cash Interest.

• If an Interest Election Request with respect to Term SOFR Loans is not timely delivered prior to the end of the Interest Period applicable thereto, then, unless such Loans are repaid as provided herein, at the end of such Interest Period such Loans shall automatically continue as Term SOFR Loans, as applicable, with an Interest Period of the same duration as the then expiring Term SOFR Loans, as applicable.

More Definitions of Interest Election

Interest Election shall have the meaning assigned to such term in Section 2.06.

Interest Election means an Interest Election substantially in the form of Exhibit B-2.

Interest Election has the meaning ascribed to it in Section 1.5(a).

Interest Election is defined in Section 2.10(b).

Interest Election shall have the meaning set forth in Section 2.4(a) hereof.

Interest Election has the meaning set forth in Section 8 of this Third Supplement.

Interest Election means an election by a Borrower to change or continue the Interest Type of a Borrowing in accordance with Section 2.06.