Examples of Type of Loan in a sentence
If such Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Loans shall be continued as the same Type of Loan, and if applicable, with the same Interest Period, as such Loans.
If, with respect to any Eurocurrency Rate Loans, the Borrower fails to specify a Type of Loan in a Committed Loan Notice or if the Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Tranche of Term Loans, Specified Refinancing Revolving Loans, or Revolving Credit Loans shall be made as, or converted to, Eurocurrency Rate Loans with an Interest Period of 1 month.
The Borrower shall give the Administrative Agent a Notice of Borrowing (which must be received by the Administrative Agent prior to 11:00 A.M. one (1) Business Day prior to the anticipated Closing Date), requesting that the Term Lenders make the Term Loans on the Closing Date, specifying the amount to be borrowed, the Type of Loan and, in the case of SOFR Loans, specifying the length of the initial Interest Period therefor.
If such Borrower fails to specify a Type of Loan in a Committed Loan Notice, then the applicable Loans shall be made as Term SOFR Loans with an Interest Period of one (1) month.