Common use of Loan Types Clause in Contracts

Loan Types. Each Loan (other than the Term B Loans and otherwise subject to Section 2.5.1(b)) shall be either a Base Rate Loan or a LIBOR Loan, as Borrower shall specify in the related notice of borrowing or conversion pursuant to Section 2.2.2 or 2.2.3. Base Rate Loans and LIBOR Loans may be outstanding at the same time, provided that not more than five different Interest Periods shall exist among outstanding LIBOR Loans at any one time. Notwithstanding the foregoing or any other provision of this Agreement, Borrower may not select any Interest Period for a LIBOR Loan which is longer than one month prior to the earlier of (a) 90 days after the Closing Date and (b) the date that Lender at its reasonable discretion notifies Borrower that it may select a different Interest Period for any LIBOR Loans. Notwithstanding anything to the contrary set forth in this Agreement, any Loans requested to be made or converted in respect of the Revolving Loan Commitment is subject to the then applicable interest rate on any outstanding Revolving Loans and in any case all such Revolving Loans shall bear the same interest rate.