Common use of Automatic Continuation Clause in Contracts

Automatic Continuation. In the event that the Borrower fails to notify the Agent of the continuation or conversion of any Loan prior to the end of the Interest Period for such Loan, that Loan will automatically continue with an Interest Period of the same duration; provided that if such Interest Period would end after the Maturity Date, the Interest Period shall end on the Maturity Date.

Automatic Continuation. In the event that the Borrower fails Borrowers fail to notify the Agent of the continuation or conversion of any Loan prior to the end of the Interest Period for such Loan, that Loan will automatically continue with an Interest Period of the same duration; provided that if such Interest Period would end after the Maturity Date, the Interest Period shall end on the Maturity Date.