Common use of Elections, Conversions or Continuation of Loans Clause in Contracts

Elections, Conversions or Continuation of Loans. Subject to the provisions of Article III and Sections 2.06 and 2.13, Borrower shall have the right to Elect to have all or a portion of any advance of the Term Loans be Term SOFR Loans, to Convert Base Rate Loans or Daily SOFR Loans into Term SOFR Loans, to Convert Term SOFR Loans into Base Rate Loans or Daily SOFR Loans, or to Continue Term SOFR Loans as Term SOFR Loans, at any time or from time to time, provided that: (1) Borrower shall give Administrative Agent notice of each such Election, Conversion or Continuation as provided in Section 2.14; and (2) a Term SOFR Loan may be Continued or Converted only on the last day of the applicable Interest Period for such Term SOFR Loan. Except as otherwise provided in this Agreement, each Election, Continuation and Conversion shall be applicable to each Bank’s applicable Loans in accordance with its Pro Rata Share of such Loans. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing, Administrative Agent, at the request of the Required Banks, may require, by notice to Borrower, that (i) no outstanding Loan may be converted to or continued as a Term SOFR Loan and (ii) unless repaid, each Loan shall be converted to a Base Rate Loan at the end of the Interest Period applicable thereto.

Elections, Conversions or Continuation of Loans. Subject to the provisions of Article III and Sections 2.06 and 2.13, Borrower shall have the right to Elect to have all or a portion of any advance of the Term Ratable Loans be Term SOFR LIBOR Loans, to Convert Base Rate Loans or Daily SOFR Loans into Term SOFR LIBOR Loans, to Convert Term SOFR LIBOR Loans into Base Rate Loans or Daily SOFR Loans, or to Continue Term SOFR LIBOR Loans as Term SOFR LIBOR Loans, at any time or from time to time, provided that: (1) Borrower shall give Administrative Agent notice of each such Election, Conversion or Continuation as provided in Section 2.14; and (2) a Term SOFR LIBOR Loan may be Continued or Converted only on the last day of the applicable Interest Period for such Term SOFR LIBOR Loan. Except as otherwise provided in this Agreement, each Election, Continuation and Conversion shall be applicable to each Bank’s applicable Loans Ratable Loan in accordance with its Pro Rata Share of such LoansShare. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing, the Administrative Agent, at the request of the Required Banks, may require, by notice to Borrower, that (i) no outstanding Ratable Loan may be converted to or continued as a Term SOFR LIBOR Loan and (ii) unless repaid, each Ratable Loan shall be converted to a Base Rate Loan at the end of the Interest Period applicable thereto.

Elections, Conversions or Continuation of Loans. Subject to the provisions of Article III and Sections 2.06 and 2.13, Borrower shall have the right to Elect to have all or a portion of any advance of the Ratable Loans or Term Loans be Term LIBORTerm SOFR Loans, to Convert Base Rate Loans or Daily SOFR Loans into Term LIBORTerm SOFR Loans, to Convert Term LIBORTerm SOFR Loans into Base Rate Loans or Daily SOFR Loans, or to Continue Term LIBORTerm SOFR Loans as Term LIBORTerm SOFR Loans, at any time or from time to time, provided that: (1) Borrower shall give Administrative Agent notice of each such Election, Conversion or Continuation as provided in Section 2.14; and (2) a Term LIBORTerm SOFR Loan may be Continued or Converted only on the last day of the applicable Interest Period for such Term LIBORTerm SOFR Loan. Except as otherwise provided in this Agreement, each Election, Continuation and Conversion shall be applicable to each Bank’s applicable Loans in accordance with its Pro Rata Share of such Loans. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing, Administrative Agent, at the request of the Required Banks, may require, by notice to Borrower, that (i) no outstanding Loan may be converted to or continued as a Term LIBORTerm SOFR Loan and (ii) unless repaid, each Loan shall be converted to a Base Rate Loan at the end of the Interest Period applicable thereto.

Elections, Conversions or Continuation of Loans. Subject to the provisions of Article III and Sections 2.06 and 2.13, Borrower shall have the right to Elect to have all or a portion of any advance of the Term Loans be Term SOFR Benchmark Loans, Base Rate Loans or a combination of the foregoing, to Convert Base Rate Loans or Daily SOFR Loans into Term SOFR Benchmark Loans, to Convert Term SOFR Benchmark Loans into Base Rate Loans or Daily SOFR Loans, or to Continue Term SOFR Benchmark Loans as Term SOFR Benchmark Loans, at any time or from time to time, provided that: (1) Borrower shall give Administrative Agent notice of each such Election, Conversion or Continuation as provided in Section 2.14; and (2) a Term SOFR Benchmark Loan may be Continued or Converted only on the last day of the applicable Interest Period for such Term SOFR Benchmark Loan. Except as otherwise provided in this Agreement, each Election, Continuation and Conversion shall be applicable to each Bank’s applicable Loans Loan in accordance with its Pro Rata Share of such LoansShare. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing, the Administrative Agent, at the request of the Required Banks, may require, by notice to Borrower, that (i) no outstanding Loan may be converted to or continued as a Term SOFR Benchmark Loan and (ii) unless repaid, each Loan shall be converted to a Base Rate Loan at the end of the Interest Period applicable thereto.

Elections, Conversions or Continuation of Loans. Subject to the provisions of Article III and Sections 2.06 and 2.13, Borrower shall have the right to Elect to have all or a portion of any advance of the Term Ratable Loans be Term SOFR Benchmark Loans, Base Rate Loans, RFR Loans or a combination of the foregoing, to Convert Base Rate Loans or Daily SOFR Loans into Term SOFR Benchmark Loans or RFR Loans, to Convert Term SOFR convert RFR Loans into Base Rate Loans or Daily SOFR Term Benchmark Loans, to Convert Term Benchmark Loans into Base Rate Loans or RFR Loans, or to Continue Term SOFR Benchmark Loans as Term SOFR Benchmark Loans, at any time or from time to time, provided that: (1) Borrower shall give Administrative Agent notice of each such Election, Conversion or Continuation as provided in Section 2.14; and (2) a Term SOFR Benchmark Loan may be Continued or Converted only on the last day of the applicable Interest Period for such Term SOFR Benchmark Loan. Except as otherwise provided in this Agreement, each Election, Continuation and Conversion shall be applicable to each Bank’s applicable Loans Ratable Loan in accordance with its Pro Rata Share of such LoansShare. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing, the Administrative Agent, at the request of the Required Banks, may require, by notice to Borrower, that (i) no outstanding Ratable Loan may be converted to or continued as a Term SOFR Benchmark Loan and (ii) unless repaid, each Ratable Loan shall be converted to a Base Rate Loan at the end of the Interest Period applicable thereto.