Examples of LIBOR Election Form and Certification in a sentence
In the absence of delivery of a LIBOR Election Form and Certification with respect to any LIBOR Rate Loan at least three (3) Business Days before the last day of the then current Interest Period with respect thereto, such LIBOR Rate Loan shall, on such last day, automatically convert to a Loan that accrues interest on a Base Rate basis.
This LIBOR basis election shall be effective for a ____ (select 1, 2, 3 or 6 month period), commencing on _____________, 20__ (a Business Day not less than three (3) Business Days nor more than five (5) Business Days from the date of submission of this LIBOR Election Form and Certification), and expiring on _______________, 20___ (not later than the Maturity Date).
Each Request for Advance and Certification or LIBOR Election Form and Certification, as applicable, shall be made by the Borrowers in accordance with the provisions of this Exhibit, the Notes and Section 1.4 of the Loan Agreement.
The Lenders shall not be obligated to act with respect to the provisions of this Exhibit unless the Administrative Agent shall have received a Request for Advance and Certification or LIBOR Election Form and Certification, as applicable, from the Borrowers specifying the following information: the amount of the advance subject to the Applicable Interest Rate election; the length of the Interest Period; and the date on which such election is requested to be effective.
It is expressly understood and agreed that the Borrowers shall have the right, subject to the foregoing terms, conditions and requirements, to elect that amounts previously advanced and outstanding under the Facilities bear interest on a LIBOR basis following the Agent's receipt of a LIBOR Election Form and Certification, in the form attached as Exhibit 2 to this Agreement.
It is expressly understood and agreed that the Borrowers shall have the right, subject to the foregoing terms, conditions and requirements, to elect that amounts previously advanced and outstanding under the Facilities bear interest on a LIBOR basis following the Agent's receipt of a LIBOR Election Form and Certification, in the form attached as Exhibit 2 to this --------- Agreement.
In the absence of delivery of a LIBOR Election Form and Certification with respect to any LIBOR Rate Loan at least two (2) Business Days before the last day of the then current Interest Period with respect thereto, such LIBOR Rate Loan shall, on such last day, automatically convert to a Loan that accrues interest on a Base Rate basis.