Common use of Duration of Interest Periods Clause in Contracts

Duration of Interest Periods. (a) Subject to the limitation described herein, the Borrower shall have the option to elect an Interest Period to be applicable to a Revolving Credit Loan by giving notice of such election (a "Renewal I Conversion Notice") in the form of EXHIBIT 2-12, annexed hereto received no later than 10:00 Boston time One Business Day before the end of the then applicable Interest Period if such Loan is to be converted to a Base Margin Loan and Three Business Days before (and not counting) the end of the then applicable Interest Period if such Loan is to be continued as, or converted to, a LIBOR Loan; provided, however, --------- ------- that (a) any Conversion of LIBOR Loans may be made only on the last day of the respective Interest Period for such Loans, and (b) no loan may be Converted to a LIBOR Loan when any Default or Event of Default has occurred and is continuing. Each such Conversion Request shall be by telephone, telecopy, telex or cable, in each case confirmed immediately in writing in the manner specified for notices herein, and shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Loans to be Converted, and (iii) if such Conversion is to LIBOR Loan the duration of the initial Interest Period for such Loans. Each Conversion Request with respect to LIBOR Loans shall be irrevocable and binding on the Borrower.

Duration of Interest Periods. (a) Subject to the limitation described herein, and provided the LIBOR Condition has been satisfied, the Lead Borrower shall have the option to elect an Interest Period to be applicable to a Revolving Credit Loan by giving notice of such election (a "Renewal I / Conversion Notice") in the form of EXHIBIT 23-1210, annexed hereto received no later than 10:00 Boston time One (1) Business Day before the end of the then applicable Interest Period if such Loan is to be converted to a Base Margin Loan and Three (3) Business Days before (and not counting) the end of the then applicable Interest Inter- est Period if such Loan is to be continued as, or converted to, a LIBOR Loan; provided, however, --------- ------- that (a) any Conversion of LIBOR Loans may be made only on the last day of the respective Interest Period for such Loans, and (b) no loan may be Converted to a LIBOR Loan when any Default Suspension Event or Event of Default has occurred and is continuing. Each such Conversion Request shall be by telephone, telecopy, telex or cable, in each case confirmed immediately in writing in the manner specified for notices herein, and shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Loans to be Converted, and (iii) if such Conversion is to LIBOR Loan the duration of the initial Interest Period for such Loans. Each Conversion Request with respect to LIBOR Loans shall be irrevocable and binding on the BorrowerBorrowers.

Duration of Interest Periods. (a) Subject to the limitation described herein, the Lead Borrower shall have the option to elect an Interest Period to be applicable to a Revolving Credit Loan or any portion of the Term Loan by giving notice of such election (a "Renewal I “Renewal/Conversion Notice"”) in the form of EXHIBIT 23-128, annexed hereto received no later than 10:00 Boston time One one (1) Business Day before the end of the then applicable Interest Period if such Loan is to be converted to a Base Margin Loan and Three three (3) Business Days before (and not counting) the end of the then applicable Interest Period if such Loan is to be continued as, or converted to, a LIBOR Loan; provided, however, --------- ------- that (a) any Conversion of LIBOR Loans may be made only on the last day of the respective Interest Period for such Loans, and (b) no loan may be Converted to a LIBOR Loan when any Default or Event of Default has occurred and is continuing. Each such Conversion Request shall be by telephone, telecopy, electronic mail, telex or cable, in each case confirmed immediately in writing in the manner specified for notices herein, and shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Loans to be Converted, and (iii) if such Conversion is to LIBOR Loan the duration of the initial Interest Period for such Loans. Each Conversion Request with respect to LIBOR Loans shall be irrevocable and binding on the BorrowerBorrowers.

Duration of Interest Periods. (a) Subject to the limitation described herein, the Lead Borrower shall have the option to elect an Interest Period to be applicable to a Revolving Credit Loan by giving notice of such election (a "Renewal I Conversion NoticeRENEWAL / CONVERSION NOTICE") in the form of EXHIBIT 23-1210, annexed hereto received no later than 10:00 Boston time One Business Day before the end of the then applicable Interest Period if such Loan is to be converted to a Base Margin Loan and Three Business Days before (and not counting) the end of the then applicable Interest Period if such Loan is to be continued as, or converted to, a LIBOR Loan; provided, however, --------- ------- that (a) any Conversion of LIBOR Loans may be made only on the last day of the respective Interest Period for such Loans, and (b) no loan may be Converted to a LIBOR Loan when any Default or Event of Default has occurred and is continuing. Each such Conversion Request shall be by telephone, telecopy, telex or cable, in each case confirmed immediately in writing in the manner specified for notices herein, and shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Loans to be Converted, and (iii) if such Conversion is to LIBOR Loan the duration of the initial Interest Period for such Loans. Each Conversion Request with respect to LIBOR Loans shall be irrevocable and binding on the Borrower. (b) If the Lender does not receive a notice of election of, or conversion to, an Interest Period for a LIBOR Loan pursuant to subsection (a) within the applicable time limits specified therein, the Borrower shall be deemed to have elected to convert such Loan in whole into a Base Margin Loan on the last day of the then current Interest Period with respect thereto. (c) The Lead Borrower shall not select, renew, or convert any Revolving Credit Loan such that there are more than three (3) interest rates applicable to the Revolving Credit Loans which are LIBOR Loans at any one time.

Duration of Interest Periods. (a) Subject to the limitation described herein, the Lead Borrower shall have the option to elect an Interest Period to be applicable to a Revolving Credit Loan, or any portion of the Term Loan, or any portion of the Acquisition Term Loan by giving notice of such election (a "Renewal I Conversion NoticeRENEWAL / CONVERSION NOTICE") in the form of EXHIBIT 23-1210, annexed hereto received no later than 10:00 Boston time One (1) Business Day before the end of the then applicable Interest Period if such Loan is to be converted to a Base Margin Loan and Three (3) Business Days before (and not counting) the end of the then applicable Interest Period if such Loan is to be continued as, or converted to, a LIBOR Loan; provided, however, --------- ------- that (a) any Conversion of LIBOR Loans may be made only on the last day of the respective Interest Period for such Loans, and (b) no loan may be Converted to a LIBOR Loan when any Default or Event of Default has occurred and is continuing. Each such Conversion Request shall be by telephone, telecopy, electronic mail, telex or cable, in each case confirmed immediately in writing in the manner specified for notices herein, and shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Loans to be Converted, and (iii) if such Conversion is to LIBOR Loan the duration of the initial Interest Period for such Loans. Each Conversion Request with respect to LIBOR Loans shall be irrevocable and binding on the BorrowerBorrowers.

Duration of Interest Periods. (a) Subject to the limitation described herein, the Lead Borrower shall have the option to elect an Interest Period to be applicable to a Revolving Credit Loan by giving notice of such election (a "Renewal I Conversion NoticeRENEWAL/CONVERSION NOTICE") in the form of EXHIBIT 23-128, annexed hereto received no later than 10:00 Boston time One one (1) Business Day before the end of the then applicable Interest Period if such Loan is to be converted to a Base Margin Loan and Three three (3) Business Days before (and not counting) the end of the then applicable Interest Period if such Loan is to be continued as, or converted to, a LIBOR Loan; provided, however, --------- ------- that (a) any Conversion of LIBOR Loans may be made only on the last day of the respective Interest Period for such Loans, and (b) no loan may be Converted to a LIBOR Loan when any Default or Event of Default has occurred and is continuing. Each such Conversion Request shall be by telephone, telecopy, electronic mail, telex or cable, in each case confirmed immediately in writing in the manner specified for notices herein, and shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Loans to be Converted, and (iii) if such Conversion is to LIBOR Loan the duration of the initial Interest Period for such Loans. Each Conversion Request with respect to LIBOR Loans shall be irrevocable and binding on the BorrowerBorrowers.

Duration of Interest Periods. (a) Subject to the limitation described herein, the Lead Borrower shall have the option to elect an Interest Period to be applicable to a Revolving Credit Loan or any portion of the Term Loan by giving notice of such election (a "Renewal I / Conversion Notice") in the form of EXHIBIT 23-1210, annexed hereto received no later than 10:00 Boston time One (1) Business Day before the end of the then applicable Interest Period if such Loan is to be converted to a Base Margin Loan and Three (3) Business Days before (and not counting) the end of the then applicable Interest Period if such Loan is to be continued as, or converted to, a LIBOR Loan; provided, however, --------- ------- that (a) any Conversion of LIBOR Loans may be made only on the last day of the respective Interest Period for such Loans, and (b) no loan may be Converted to a LIBOR Loan when any Default Suspension Event or Event of Default has occurred and is continuing. Each such Conversion Request shall be by telephone, telecopy, telex or cable, in each case confirmed immediately in writing in the manner specified for notices herein, and shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Loans to be Converted, and (iii) if such Conversion is to LIBOR Loan the duration of the initial Interest Period for such Loans. Each Conversion Request with respect to LIBOR Loans shall be irrevocable and binding on the BorrowerBorrowers.