Examples of Notice of Revolving Credit Borrowing in a sentence
If the applicable Borrower requests a Borrowing of, Conversion to, or continuation of Term SOFR Advances in any such Notice of Revolving Credit Borrowing, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one (1) month.
If the applicable Borrower fails to specify a Type of Advance in a Notice of Revolving Credit Borrowing or if the applicable Borrower fails to give a timely notice requesting a Conversion or continuation, then the applicable Advances shall be made as, or converted to, Base Rate Advances.
Each Notice of Revolving Credit Borrowing shall specify (i) the requested date of such Revolving Credit Borrowing (which must be a Business Day), (ii) Type of Advances comprising such Revolving Credit Borrowing, (iii) aggregate amount of such Revolving Credit Borrowing, and (iv) in the case of a Revolving Credit Borrowing consisting of Term SOFR Advances, the initial Interest Period for each such Revolving Credit Advance.