Common use of Election of LIBOR Pricing Options Clause in Contracts

Election of LIBOR Pricing Options. Subject to all terms and conditions of this Agreement and so long as no Default exists, the Borrowers may from time to time, by irrevocable notice given by an Authorized Representative to the Agent actually received not less than three Banking Days prior to the commencement of the Interest Period selected in such notice, elect to have such portion of the Revolving Credit Loans as the Parent may specify in such notice accrue and bear interest during the Interest Period so selected at the Applicable Rate computed on the basis of the LIBOR Rate. In the event the Borrowers at any time fail to elect a LIBOR Pricing Option under this Section 3.2.1 for any portion of the Revolving Credit Loans, then such portion of the Revolving Credit Loans will accrue and bear interest at the Applicable Rate computed on the basis of the Base Rate. No election of a LIBOR Pricing Option will become effective:

Election of LIBOR Pricing Options. Subject to all of the terms and conditions of this Agreement hereof and so long as no Default exists, the Borrowers may from time to time, by irrevocable notice given by an Authorized Representative to the Agent actually received not less than three Banking Days prior to the commencement of the LIBOR Interest Period selected in such notice, elect to have such portion of the Revolving Credit Loans Loan as the Parent Borrowers may specify in such notice accrue and bear interest during the LIBOR Interest Period so selected at the Applicable Rate computed on the basis of the LIBOR Rate. In the event the Borrowers at any time fail to elect a LIBOR Pricing Option under this Section 3.2.1 for any portion of the Revolving Credit LoansLoan (upon termination of a LIBOR Pricing Option or otherwise), then such portion of the Revolving Credit Loans Loan will accrue and bear interest at the Applicable Rate computed based on the basis of the Alternate Base Rate. No election of a LIBOR Pricing Option will shall become effective:

Election of LIBOR Pricing Options. Subject to all of the terms and --------------------------------- conditions of this Agreement hereof and so long as no Default exists, the Borrowers may from time to time, by irrevocable notice given by an Authorized Representative to the Agent actually received not less than three Banking Days prior to the commencement of the Interest Period selected in such notice, elect to have such portion of the Revolving Credit Loans Loan as the Parent may specify in such notice accrue and bear interest during the Interest Period so selected at the Applicable Rate computed on the basis of the LIBOR Rate. In the event the Borrowers at any time fail to elect a LIBOR Pricing Option under this Section 3.2.1 for any portion of the Revolving Credit LoansLoan, then such portion of the Revolving Credit Loans Loan will accrue and bear interest at the Applicable Rate computed on the basis of the Base Rate. No election of a LIBOR Pricing Option will become effective:

Election of LIBOR Pricing Options. Subject to all of the terms and conditions of this Agreement hereof and so long as no Default exists, the Borrowers Borrower may from time to time, by irrevocable notice given by an Authorized Representative to the Agent actually received not less than three Banking Days prior to the commencement of the LIBOR Interest Period selected in such notice, elect to have such portion of the Revolving Credit Loans Loan as the Parent Borrower may specify in such notice accrue and bear interest during the LIBOR Interest Period so selected at the Applicable Rate computed on the basis of the LIBOR Rate. In the event the Borrowers Borrower at any time fail fails to elect a LIBOR Pricing Option under this Section 3.2.1 for any portion of the Revolving Credit LoansLoan (upon termination of a LIBOR Pricing Option or otherwise), then such portion of the Revolving Credit Loans Loan will accrue and bear interest at the Applicable Rate computed based on the basis of the Base Rate. No election of a LIBOR Pricing Option will shall become effective:

Election of LIBOR Pricing Options. Subject to all terms and conditions of this Agreement and so long as no Default or Event of Default exists, the Borrowers may from time to time, by irrevocable notice given by an Authorized Representative to the Agent actually received not less than three (3) Banking Days prior to the commencement of the Interest Period selected in such notice, elect to have such portion of the Revolving Credit Loans as the Parent may specify in such notice accrue and bear interest during the Interest Period so selected at the Applicable Rate computed on the basis of the LIBOR Rate. In the event the Borrowers at any time fail to elect a LIBOR Pricing Option under this Section 3.2.1 for any portion of the Revolving Credit Loans, then such portion of the Revolving Credit Loans will accrue and bear interest at the Applicable Rate computed on the basis of the Base Rate. No election of a LIBOR Pricing Option will become effective: