Common use of Continuation Option Clause in Contracts

Continuation Option. (a) Borrower may irrevocably request a Continuation of Loans on any Business Day in a Minimum Amount therefor by delivering a Request for Extension of Credit therefor by Requisite Notice to Administrative Agent not later than the Requisite Time therefor. (b) Unless Borrower pays all amounts due under Section 3.05, if any, a Eurodollar Rate Loan may be Continued only on the last day of the Interest Period for such Eurodollar Rate Loan. (c) Administrative Agent shall promptly notify Borrower and Lenders of the interest rate applicable to any Eurodollar Rate Loan upon determination of the same.