Selection of Interest Rate Options. If the Borrower fails to select a new Interest Period to apply to any Borrowing Tranche of Loans under the LIBOR Rate Option at the expiration of an existing Interest Period applicable to such Borrowing Tranche in accordance with the provisions of Section 4.2 [Interest Periods], the Borrower shall be deemed to have converted such Borrowing Tranche to the Base Rate Option commencing upon the last day of the existing Interest Period.
Selection of Interest Rate Options. At any time any portion of this Note bears interest determined in relation to LIBOR, it may be continued by Borrower at the end of the Fixed Rate Term applicable thereto so that all or a portion thereof bears interest determined in relation to the Prime Rate or to LIBOR for a new Fixed Rate Term designated by Borrower. At any time any portion of this Note bears interest determined in relation to the Prime Rate, Borrower may convert all or a portion thereof so that it bears interest determined in relation to LIBOR for a Fixed Rate Term designated by Borrower. At such time as Borrower requests an advance hereunder or wishes to select a LIBOR option for all or a portion of the outstanding principal balance hereof, and at the end of each Fixed Rate Term, Borrower shall give Bank notice specifying: (i) the interest rate option selected by Borrower; (ii) the principal amount subject thereto; and (iii) for each LIBOR selection, the length of the applicable Fixed Rate Term. Any such notice may be given by telephone (or such other electronic method as Bank may permit) so long as, with respect to each LIBOR selection, (A) if requested by Bank, Borrower provides to Bank written confirmation thereof not later than three (3) Business Days after such notice is given, and (B) such notice is given to Bank prior to 10:00 a.m. on the first day of the Fixed Rate Term, or at a later time during any Business Day if Bank, at it's sole option but without obligation to do so, accepts Borrower's notice and quotes a fixed rate to Borrower. If Borrower does not immediately accept a fixed rate when quoted by Bank, the quoted rate shall expire and any subsequent LIBOR request from Borrower shall be subject to a redetermination by Bank of the applicable fixed rate. If no specific designation of interest is made at the time any advance is requested hereunder or at the end of any Fixed Rate Term, Borrower shall be deemed to have made a Prime Rate interest selection for such advance or the principal amount to which such Fixed Rate Term applied.
Selection of Interest Rate Options. If the Borrower fails to select a new Interest Period to apply to any Borrowing Tranche of Loans under the LIBOR Rate Option at the expiration of an existing Interest Period applicable to such Borrowing Tranche in accordance with the provisions of Section 4.2 [Interest Periods], the Borrower shall be deemed to have converted such Borrowing Tranche to the Base Rate Option, as applicable to Revolving Credit Loans or Term Loans as the case may be, commencing upon the last day of the existing Interest Period. If the Borrower provides any Loan Request related to a Loan at the LIBOR Rate Option but fails to identify an Interest Period therefor, such Loan Request shall be deemed to request an Interest Period of one (1) month. Any Loan Request that fails to select an Interest Rate Option shall be deemed to be a request for the Base Rate Option.
Selection of Interest Rate Options. If the Borrower elects to continue a LIBOR Rate Loan but fails to select a new Interest Period to apply thereto, then a one month Interest Period automatically shall apply. If the Borrower fails to duly request the continuation of any Borrowing consisting of LIBOR Rate Loans on or before the date specified and otherwise in accordance with the provisions of this Section 2.3, then such LIBOR Rate Loan automatically shall be converted to a Base Rate Loan, commencing on the last day of the Interest Period then in effect.
Selection of Interest Rate Options. If the Borrower fails to select a Euro-Rate Interest Period in accordance with the provisions of Section 4.02 in the case of renewal of the Revolving Credit Euro-Rate Portion, the Borrower shall be deemed to have converted such Loan or portion thereof to the Base Rate Option otherwise available with respect to such Loans, commencing upon the last day of that Euro-Rate Interest Period. If an Event of Default shall occur and be continuing, the Agent may in its discretion limit the Borrower to the Base Rate Option hereunder.
Selection of Interest Rate Options. If the Borrowers fail to select a new Interest Period or Optional Currency to apply to any Borrowing Tranche of Revolving Credit Loans under the Euro-Rate Option or EURIBOR Rate Option or fail to select a new Interest Period to apply to any Borrowing Tranche of Term Loans under the Euro-Rate Option or EURIBOR Rate Option at the expiration of an existing Interest Period applicable to such Borrowing Tranche in accordance with the provisions of Section 3.2, the Borrowers shall be deemed to have converted or continued, as applicable, such Borrowing Tranche of Revolving Credit Loans under the Euro-Rate Option or EURIBOR Rate Option and/or such Borrowing Tranche of Term Loans under the Euro-Rate Option or EURIBOR Rate Option for an Interest Period of one (1) month and, if required by the Administrative Agent with respect to Revolving Credit Loans, converted such Borrowing Tranche to a Revolving Credit Loan in Dollars, as applicable, commencing upon the last day of the existing Interest Period.
Selection of Interest Rate Options. Following the Effective Date, subject to Section 2.2(d), the Borrower may, on any Borrowing Date, request the Administrative Agent Continue or Convert any Interest Rate Option applicable to any outstanding portion of the Loan, by the delivery to the Administrative Agent, not later than 12:00 noon, Pittsburgh, Pennsylvania time, (a) three (3) Business Days prior to the proposed Borrowing Date with respect to the Conversion to or the Continuation of the LIBOR Rate Option for any portion of the Loan; and (b) one (1) Business Day prior to the last day of the preceding Interest Period with respect to the Conversion to the Base Rate Option for any portion of the Loan, of a duly completed request therefor substantially in the form of Exhibit C attached hereto and made a part hereof (each, an “Interest Rate Request”). Each Interest Rate Request shall be irrevocable and shall specify (a) the proposed Borrowing Date; (b) the aggregate amount of the portion of the Loan comprising the Borrowing Tranche, which amount per Borrowing Tranche shall not be less than $100,000.00; (c) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed portions of the Loan comprising the Borrowing Tranche; and (d) in the case of portions of the Loan to which the LIBOR Rate Option applies, an appropriate Interest Period for the proposed portion of the Loan comprising the Borrowing Tranche, provided that in the case of the Continuation of a LIBOR Rate Option at the end of a Interest Period, the first day of the Interest Period shall be the last day of the preceding Interest Period, without duplication in payment of interest for such day.
Selection of Interest Rate Options. If the Borrower fails to select a new Interest Period to apply to any Borrowing of Loans under the Euro-Rate Option at the expiration of an existing Interest Period applicable to such Borrowing in accordance with the provisions of Section 2.06(d), the Borrower shall be deemed to have selected the Euro-Rate Option for an additional Interest Period of one month, commencing upon the last day of the existing Interest Period, unless less than one month remains until the Revolving Termination Date, in which event the Borrower shall be deemed to have converted such Borrowing to the Base Rate Option, commencing upon the last day of the existing Interest Period.
Selection of Interest Rate Options. If the Borrowers fail to select a new Interest Period to apply to any Advances in an Affected Currency under any Term RFR Option at the expiration of an existing Interest Period applicable to such Advances in accordance with the provisions of Section 4(g) [Interest Periods] above, then, unless such Advances are repaid as provided herein, the Borrowers shall be deemed to have selected that such Advances shall automatically be continued under the applicable Term RFR Option in its original Affected Currency with an Interest Period of one (1) month at the end of such Interest Period. If on and after the Term RFR Transition Date with respect to any Affected Currency, the Borrowers provide any request for an Advance related to an Advance at the Term RFR Option for such Affected Currency, but fails to identify an Interest Period therefor, such request for an Advance shall be deemed to request an Interest Period of one (1) month. Any request for an Advance that fails to select an Interest Rate Option shall be deemed to be a request for a Domestic Rate Loan. If no election as to currency is specified in the applicable request for an Advance, then the requested Advances shall be made in Dollars.
Selection of Interest Rate Options. If the Borrower fails to select a new Interest Period to apply to any Borrowing Tranche of Loans under the Euro-Rate Option at the expiration of an existing Interest Period applicable to such Borrowing Tranche in accordance with the provisions of Section 4.2 [Interest Periods], the Borrower shall be deemed to have converted such Borrowing Tranche to the Base Rate Option, as applicable to Revolving Credit Loans or Term Loans as the case may be, commencing upon the last day of the existing Interest Period, and any resulting currency conversion to U.S. Dollars shall be determined by the Administrative Agent at the time of such conversion. The amount of the interest or fees eligible in applying this agreement shall not exceed the maximum rate permitted by Law. Where the amount of such interest or such fees is greater than the maximum rate, the amount shall be reduced to the highest rate which may be recovered in accordance with the applicable provisions of Law.