Common use of Interest Election Clause in Contracts

Interest Election. (a) Each Conventional Revolving Borrowing initially shall be of the type specified in the applicable notice of borrowing and, in the case of a Conventional Revolving Borrowing consisting of Eurodollar Loans shall have an initial Interest Period as specified in such notice. Thereafter, the Company may elect to convert such Conventional Revolving Borrowing to a different type or to continue such Conventional Revolving Borrowing and, in the case of a Conventional Revolving Borrowing consisting of Eurodollar Loans, may elect Interest Periods therefor, all as provided in this Section 2.08. The Company may elect different options with respect to different portions of the affected Conventional Revolving Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Conventional Revolving Borrowing, and the Loans comprising each such portion shall be considered a separate Conventional Revolving Borrowing. This Section 2.08 shall not apply to Discretionary Revolving Loans.

Interest Election. (a) Each Conventional Revolving Borrowing initially shall be of the type specified in the applicable notice Notice of borrowing Conventional Borrowing and, in the case of a Conventional Revolving Borrowing consisting of CD Rate Loans or, Eurodollar Loans shall have an initial Interest Period as specified in such noticeNotice of Conventional Borrowing. Thereafter, the Company may elect to convert such Conventional Revolving Borrowing to a different type or to continue such Conventional Revolving Borrowing and, in the case of a Conventional Revolving Borrowing consisting of CD Rate Loans or, Eurodollar Loans, may elect Interest Periods therefor, all as provided in this Section 2.082.05. The Company may elect different options with respect to different portions of the affected Conventional Revolving Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Conventional Revolving Borrowing, and the Loans comprising each such portion shall be considered a separate Conventional Revolving Borrowing. This Section 2.08 2.05 shall not apply to Discretionary Revolving LoansBorrowings.