Continuation of LIBOR Loans. The Borrower may elect from time to time to have any LIBOR Loan continued as such upon the expiration of the Interest Period applicable thereto by giving the Administrative Agent irrevocable notice of such election no later than 9:00 a.m. (Pacific time) on the third LIBOR Business Day preceding the last day of such Interest Period; provided, however, that no LIBOR Loan may be continued as such when any Event of Default or Potential Default has occurred and is continuing, but shall be automatically converted to a Prime Rate Loan on the last day of the Interest Period applicable thereto. The Administrative Agent shall notify the Borrower promptly that any such automatic conversion will occur. If the Borrower shall fail to give notice of its election to continue a LIBOR Loan as such as provided above, the Borrower shall be deemed to have elected to convert the affected LIBOR Loan to a Prime Rate Loan on the last day of the applicable Interest Period.
Continuation of LIBOR Loans. Borrower Representative shall have the right on three (3) Business Days' prior irrevocable written notice given to Administrative Agent by Borrower Representative (prior to 10:00 a.m. Los Angeles time on such Business Day), subject to the provisions hereof, to continue any LIBOR Loan into a subsequent Interest Period of the same or a different permitted duration, in each case subject to the satisfaction of the following conditions:
Continuation of LIBOR Loans. Provided that as of both the date of the LIBOR Request and the first day of the Interest Period, no Default or Event of Default exists or, if a Default or Event of Default exists, neither Administrative Agent nor Majority Revolving Credit Lenders have elected to suspend the LIBOR Option during the continuance of such Default or Event of Default, Borrower Representative may, on any Business Day, continue any LIBOR Loans into a subsequent Interest Period of the same or a different permitted duration. If Borrower Representative desires to continue a LIBOR Loan, Borrower Representative shall give Administrative Agent a LIBOR Request no later than 11:00 a.m. (Chicago, Illinois time) on the third Business Day prior to the requested continuation date. After giving effect to any continuation of LIBOR Loans, Borrowers shall not be permitted to have outstanding at any one time LIBOR Loans with more than seven (7)
Continuation of LIBOR Loans. Provided that as of both the date of the LIBOR Request and the first day of the Interest Period, no Default or Event of Default exists, U.S. Borrower may, on any Business Day, continue any LIBOR Loan into a subsequent Interest Period of the same or a different permitted duration. If U.S. Borrower desires to continue a LIBOR Loan, U.S. Borrower shall give Administrative Agent a LIBOR Request no later than 11:00 a.m. (Chicago time) on the third Business Day prior to the requested continuation date. After giving effect to any continuation of LIBOR Loans, U.S. Borrower shall not be permitted to have outstanding at any one time LIBOR Loans with more than six (6)
Continuation of LIBOR Loans. Any LIBOR Loans may be continued as such upon the expiration of an Interest Period, provided the applicable Company so notifies the Agent, at least three (3) Business Days prior to the expiration of said Interest Period, and provided, further that no LIBOR Loan may be continued as such upon the occurrence of any Default or Event of Default under this Financing Agreement, but shall be automatically converted to an Chase Bank Rate Loan on the last day of the Interest Period during which occurred such Default or Event of Default. Absent such notification, LIBOR Rate Loans shall convert to Chase Bank Rate Loans on the last day of the applicable Interest Period. Each notice of election, conversion or continuation furnished by the Companies pursuant hereto shall specify whether such election, conversion or continuation is for a one, two or three month period. Notwithstanding anything to the contrary contained herein, the Agent and the Lenders (and any participant or co-lender, if applicable) shall not be required to purchase United States Dollar deposits in the London interbank market or from any other applicable LIBOR Rate market or source or otherwise “match fund” to fund LIBOR Rate Loans, but any and all provisions hereof relating to LIBOR Rate Loans shall be deemed to apply as if the Agent (and any such other Lender or participant, if applicable) had purchased such deposits to fund any LIBOR Rate Loans.
Continuation of LIBOR Loans. The first sentence of Section 3.1.9 of the Loan Agreement is hereby amended in its entirety to read as follows: "Provided that as of both the date of the LIBOR Request and the first day of the Interest Period, no Default or Event of Default exists or, if a Default or Event of Default exists, neither Administrative Agent nor Majority Revolving Credit Lenders (with respect to Revolving Credit Loans) or Majority Term Loan B Lenders (with respect to the Term Loan B) have elected to suspend the LIBOR Option during the continuance of such Default or Event of Default, Borrower Representative may, on any Business Day, continue any LIBOR Loans into a subsequent Interest Period of the same or a different permitted duration."
Continuation of LIBOR Loans. Borrower shall have the right on two (2) Business Days' prior irrevocable written notice given to Lender by Borrower (prior to 11:00 a.m. New York City time on such Business Day), subject to the provisions hereof, to continue any LIBOR Loan into a subsequent LIBOR Interest Period of the same or a different permitted duration, in each case subject to the satisfaction of the following conditions:
