Common use of Borrower’s Failure to Notify; Automatic Continuations and Conversions; Defaults Clause in Contracts

Borrower’s Failure to Notify; Automatic Continuations and Conversions; Defaults. (i) Except as otherwise provided herein, a Eurodollar Loan may be continued or converted only on the last day of an Interest Period for such Eurodollar Loan. If the Borrower fails to give proper notice of the continuation or conversion of any outstanding Borrowing of Eurodollar Loans before the last day of its then current Interest Period within the period required by Section 2.03(a) and such Borrowing is not prepaid in accordance with Section 2.06, such Borrowing shall automatically be converted into a Borrowing of Eurodollar Loans with an Interest Period of one month.

Borrower’s Failure to Notify; Automatic Continuations and Conversions; Defaults. (i) Except as otherwise provided herein, a Eurodollar Loan may be continued or converted only on the last day of an Interest Period for such Eurodollar Loan. If the Borrower fails to give proper notice of the continuation or conversion of any outstanding Borrowing of Eurodollar Loans before the last day of its then current Interest Period within the period required by Section 2.03(a2.3(a) or, whether or not such notice has been given, one or more of the conditions set forth in Section 3.3 for the continuation or conversion of a Borrowing of Eurodollar Loans would not be satisfied, and such Borrowing is not prepaid in accordance with Section 2.062.6, such Borrowing shall automatically be converted into a Borrowing of Eurodollar Loans with an Interest Period of one monthBase Rate Loans.