Common use of If No Notice Clause in Contracts

If No Notice. If BORROWER fails to select an interest rate option in accordance with the foregoing prior to a Loan Advance, or prior to the last day of the applicable Interest Period of an outstanding LIBOR Advance, or if a LIBOR Advance is selected but is not available, any new Loan Advance made shall be deemed to be a Prime Rate Advance, and on the last day of the applicable Interest Period all outstanding principal amounts shall be deemed converted to a Prime Rate Advance.

If No Notice. If BORROWER Borrower fails to select an interest rate option in accordance with the foregoing prior to a Loan Advance, or prior to the last day of the applicable Interest Period of an outstanding LIBOR Based Advance, or if a LIBOR Based Advance is selected but is not available, any new Loan Advance made shall be deemed to be a Prime Variable Rate Advance, and on the last day of the applicable Interest Period all outstanding principal amounts shall be deemed converted to a Prime Variable Rate Advance.

If No Notice. If BORROWER Borrower fails to select an interest rate option in accordance with the foregoing prior to a Loan AdvanceLoan, or prior to the last day of the applicable Interest Period of an outstanding LIBOR Libor Advance, or if a LIBOR Libor Advance is selected but is not available, any new Loan Advance made shall be deemed to be a Prime Variable Rate Advance, and on the last day of the applicable Interest Period all outstanding principal amounts shall be deemed converted to a Prime Variable Rate Advance.

If No Notice. If BORROWER a Borrower fails to select an interest rate option in accordance with the foregoing prior to a Loan Warehousing Advance, or prior to the last day of the applicable Interest Period of an outstanding LIBOR Advance, or if a LIBOR Advance is selected but is not available, any new Loan Warehousing Advance made shall be deemed to be a Prime Variable Rate Advance, and on the last day of the applicable Interest Period all outstanding principal amounts of such Warehousing Advance shall be deemed converted to a Prime Variable Rate Advance.