Common use of Selection - Term Loans Clause in Contracts

Selection - Term Loans. (a) A Borrower of a Term Loan must select the first Term for that Term Loan in the applicable Request for that Term Loan and may select subsequent Terms in a Selection Notice. (b) Each Selection Notice for a Term Loan is irrevocable and must be delivered to the Facility Agent by the Borrower of that Term Loan not later than 11.00am one Business Day before the Rate Fixing Day for that Term. (c) The first Term for a Term Loan will start on its Utilisation Date and each subsequent Term will start on the expiry of the preceding Term for the relevant Loan. (d) If the Borrower fails to select a Term for an outstanding Term Loan under paragraph (a) above, that Term will be one month. (e) Subject to the provisions of this Clause: (i) each Term for a Facility A Loan or Facility B Loan will be one or three months or any other period agreed by the Company and the Facility Agent (acting on the instructions of all of the Lenders which have a participation in that Term Loan); and (ii) each Term for a Facility C Loan will be one, three or six months or any other period agreed by the Company and the Facility Agent (acting on the instructions of all the Lenders which have a participation in that Term Loan). (f) Notwithstanding paragraph (e) above: (i) the Borrower may select a Term of any period of less than one, three or six months in the case of a Facility C Loan if necessary to ensure there are sufficient Term Loans under Facility C (with an aggregate amount equal to or greater than the relevant Facility C Repayment Instalment) which have a Term ending on the date that the relevant Facility C Repayment Instalment is due to be repaid; and (ii) in order to facilitate primary syndication of the Facilities, each Term for a Term Loan may also be any other period of less than one month as requested by the Original Mandated Lead Arrangers.