Interest Election Notice definition

Interest Election Notice means an Interest Election Notice, delivered by the Administrative Borrower pursuant to Section 2.10, substantially in the form of Exhibit E.

Interest Election Notice shall have the meaning provided in Section 2.8(c).

Interest Election Notice has the meaning assigned to that term in Section 2.06.

Examples of Interest Election Notice in a sentence

• Each Interest Election Notice must specify the amount of Interest that shall be paid as Cash Interest, if any, and the amount of Interest that shall be paid in Interest Shares.

• 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.

• Notwithstanding the foregoing, each Collateral Shortfall Notice, Borrowing Request, Voluntary Prepayment Notice, Mandatory Prepayment Notice, PIK Interest Election Notice, and any notice delivered pursuant to Section 2.09(e) and any notice of termination or reduction of Commitments may be delivered electronically.

• Unless the Borrower delivers a PIK Interest Election Notice to the Administrative Agent at least three (3) Business Days prior to an Interest Payment Date, the Borrower will, subject to the immediately succeeding clause (B) below, be deemed to have elected for each Interest Period, to make interest payments in cash as set forth in Section 2.06(a)(i).

• If the Borrower has delivered a PIK Interest Election Notice in accordance with the terms of this Section 2.06(a)(ii), on the applicable Interest Payment Date, all accrued and unpaid interest shall be added to the principal amount of the Loans and shall, thereafter, be deemed an extension of additional Loans pursuant to the terms of, and subject to, the Loan Documents.

More Definitions of Interest Election Notice

Interest Election Notice means a request by the Company to convert or continue a Syndicated Borrowing in accordance with Section 2.10(a), in a form approved by the Administrative Agent.

Interest Election Notice means a notice of (a) a conversion of Committed Loans from one Type to the other, or (b) a continuation of Eurodollar Rate Loans, pursuant to Section 2.2(a), which, if in writing, shall be substantially in the form of Exhibit 2.2(a)-2.

Interest Election Notice a written notice delivered by the Borrower to the Administrative Agent at least 30 days prior to each Interest Payment Date providing notice that the Borrower has elected to pay PIK Interest on the applicable Interest Payment Date.

Interest Election Notice means a notice of (a) a conversion of Committed Loans from one Type to the other, or (b) a continuation of Eurodollar RateSOFR Loans, pursuant to Section 2.2(a), which, if in writing, shall be substantially in the form of Exhibit 2.2(a)-2. “Interest Payment Date” means (a) as to Base Rate Loans (including a Swing Line Loan), the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the Maturity Date, and (b) as to Eurodollar RateSOFR Loans, the last day of each applicable Interest Period and the Maturity Date, and, in addition, where the applicable Interest Period for a Eurodollar RateSOFR Loan is greater than three months, then also on the last day of each three-month period during such Interest Period. If an Interest Payment Date falls on a date which is not a Business Day, such Interest Payment Date shall be deemed to be the next succeeding Business Day, except that in the case of Eurodollar RateSOFR Loans where the next succeeding Business Day falls in the next succeeding calendar month, then such Interest Payment Date shall be deemed to be the next preceding day. “Interest Period” means, as to Eurodollar Rate Loans, a period of for any SOFR Loan or Borrowing, the period commencing on the date of such Loan or Borrowing and ending on the numerically corresponding day in the calendar month that is one, two, three or six months’ duration, as the Borrower may elect, commencing, in each case, on the date of the borrowing (including continuations and conversions of Eurodollar Rate Loans) thereafter, as specified in the applicable Committed Loan Notice or Interest Election Notice; provided, however,that (ai) if any Interest Period would end on a day which is notother than a Business Day, such Interest Period

Interest Election Notice as defined in subsection 3.1(b).

Interest Election Notice has the meaning ascribed thereto in Section 2.11(c);

Interest Election Notice has the meaning ascribed thereto in section 2.8 hereof;