A Term Loan B Rate Request, Once Delivered to Agent, Shall Not Be Revocable by Borrower.4.A.5 Sample Clauses


a Term Loan B Rate Request, once delivered to Agent, shall not be revocable by Borrower.4.A.5. Base Rate Advance in Absence of Election or Upon Default. In the event Borrower shall fail with respect to any Eurodollar-based Advance of a Term Loan B to timely exercise their option to refund or convert such Advance in accordance with Section 4.A.4 hereof (and such Advance has not been paid in full on the last day of the Eurodollar-Interest Period applicable thereto according to the terms hereof), or, if on the last day of the applicable Eurodollar-Interest Period, a Default or Event of Default shall exist, then, on the last day of the applicable Eurodollar-Interest Period, the principal amount of such Advance which has not been prepaid shall be automatically converted to a Base Rate Advance and the Agent shall thereafter promptly notify Borrower thereof. All accrued and unpaid interest on any Advance converted to a Base Rate Advance under this Section 4.A.5 shall be due and payable in full on the date such Advance is converted. 4.A.6 Interest Payments; Default Interest. (a) Interest on the unpaid principal of all Base Rate Advances of Term Loan B from time to time outstanding shall accrue until paid at a per annum interest rate equal to the Base Rate, and shall be payable in immediately available funds quarterly in arrears commencing on January 1, 2014, and on the first day of each January, April, July and October thereafter. Whenever any payment under this Section 4.A.6 shall become due on a day that is not a Business Day, the date for payment shall be extended to the next Business Day. Interest accruing at the Base Rate shall be computed on the basis of a 360 day year and assessed for the actual number of days elapsed, and in such computation effect shall be given to any change in the interest rate resulting from a change in the Base Rate on the date of such change in the Base Rate. (b) Interest on the unpaid principal of each Eurodollar-based Advance of Term Loan B having a related Eurodollar-Interest Period of three (3) months or less shall accrue at its applicable Eurodollar-based Rate and shall be payable in immediately available funds on the last day of the Eurodollar-Interest Period applicable thereto. Interest accruing at the Eurodollar-based Rate shall be computed on the basis of a 360-day year and assessed for the actual number of days elapsed from the first day of the Eurodollar-Interest Period applicable thereto to, but not including, the last day thereof. (c) Notwithstanding anything to the contrary in Section 4.A.6(a) or (b) hereof, all ...