Common use of Failure to Elect; Events of Default Clause in Contracts

Failure to Elect; Events of Default. If the Borrower fails to deliver a timely and complete Interest Election Request with respect to a SOFR Borrowing prior to the end of the Interest Period therefor, then, unless such Revolving SOFR Borrowing is repaid as provided herein, the Borrower shall be deemed to have selected that such Revolving SOFR Borrowing shall automatically be converted to an ABR Borrowing at the end of such Interest Period. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as such Event of Default is continuing (i) no outstanding Borrowing may be converted to or continued as a Revolving SOFR Borrowing and (ii) unless repaid, each Revolving SOFR Borrowing shall automatically be converted to an ABR Borrowing at the end of the Interest Period therefor.

Failure to Elect; Events of Default. If the Borrower fails to deliver a timely and complete Interest Election Request with respect to a an Adjusted Term SOFR Borrowing prior to the end of the Interest Period therefor, then, unless such Revolving SOFR Borrowing is repaid as provided herein, the Borrower shall be deemed to have selected that such Revolving SOFR Borrowing shall automatically be converted to an ABR Borrowing at the end of such Interest PeriodPeriod such Borrowing shall be converted to an Adjusted Term SOFR Borrowing having an Interest Period of one (1) month. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as such Event of Default is continuing (i) no outstanding any Adjusted Term SOFR Borrowing may shall, at the end of the applicable Interest Period for such Adjusted Term SOFR Borrowing, be automatically converted to or continued as a Revolving SOFR Borrowing and an ABR Borrowing, (ii) unless repaid, each Revolving any Daily Simple SOFR Borrowing shall immediately be automatically be converted to an ABR Borrowing at and (iii) the end of the Interest Period thereforBorrower shall not be entitled to elect to convert or continue any Borrowing into a SOFR Borrowing.

Failure to Elect; Events of Default. If the Borrower fails to deliver a timely and complete Interest Election Request with respect to a SOFR Revolving LIBO Rate Borrowing prior to the end of the Interest Period therefor, then, unless such Revolving SOFR LIBO Rate Borrowing is repaid as provided herein, the Borrower shall be deemed to have selected that such Revolving SOFR LIBO Rate Borrowing shall automatically be converted to an ABR Borrowing at the end of such Interest Period. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as such Event of Default is continuing (i) no outstanding Borrowing may be converted to or continued as a Revolving SOFR LIBO Rate Borrowing and (ii) unless repaid, each Revolving SOFR LIBO Rate Borrowing shall automatically be converted to an ABR Borrowing at the end of the Interest Period therefor.

Failure to Elect; Events of Default. If the Borrower fails to deliver a timely and complete Interest Election Request with respect to a Syndicated Term SOFR Borrowing prior to the end of the Interest Period therefor, then, unless such Revolving Syndicated Term SOFR Borrowing is repaid as provided herein, the Borrower shall be deemed to have selected that such Revolving SOFR Borrowing shall automatically be converted to an ABR Borrowing at the end Interest Period of such Interest Periodone month’s duration. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower (provided that no such notice shall be required in the case of any Event of Default under clause (h) or (i) of Article VII with respect to the Borrower), then, so long as such an Event of Default is continuing (iA) no outstanding Syndicated Borrowing may be converted to or continued as a Revolving Syndicated Term SOFR Borrowing and (iiB) unless repaid, each Revolving Syndicated Term SOFR Borrowing shall automatically be converted to an a Syndicated ABR Borrowing at the end of the Interest Period therefor.

Failure to Elect; Events of Default. If the then-current Benchmark is Adjusted Term SOFR, if the Borrower fails to deliver a timely and complete Interest Election Request with respect to a aan Adjusted Term SOFR Borrowing prior to the end of the Interest Period therefor, then, unless such Revolving SOFR Borrowing is repaid as provided herein, the Borrower shall be deemed to have selected that such Revolving SOFR Borrowing shall automatically be converted to an ABR Borrowing at the end of such Interest PeriodPeriod such Borrowing shall be converted to aan Adjusted Term SOFR Borrowing having an Interest Period of one (1) month. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as such Event of Default is continuing (i) no outstanding any Adjusted Term SOFR Borrowing may shall, at the end of the applicable Interest Period for such Adjusted Term SOFR Borrowing, be automatically converted to or continued as a Revolving SOFR an ABR Borrowing and (ii) unless repaid, each Revolving the Borrower shall not be entitled to elect to convert or continue any Borrowing into a SOFR Borrowing shall automatically be converted to an ABR Borrowing at the end of the Interest Period thereforBorrowing.

Failure to Elect; Events of Default. If the Borrower fails to deliver a timely and complete Interest Election Request with respect to a an Adjusted Term SOFR Borrowing prior to the end of the Interest Period therefor, then, unless such Revolving SOFR Borrowing is repaid as provided herein, the Borrower shall be deemed to have selected that such Revolving SOFR Borrowing shall automatically be converted to an ABR Borrowing at the end of such Interest PeriodPeriod such Borrowing shall be converted to an Adjusted Term SOFR Borrowing having an Interest Period of one (1) month. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as such Event of Default is continuing (i) no outstanding Borrowing may be converted to or continued as a Revolving any Adjusted Term SOFR Borrowing and (ii) unless repaidshall, each Revolving SOFR Borrowing shall automatically be converted to an ABR Borrowing at the end of the applicable Interest Period thereforfor such Adjusted Term SOFR Borrowing, be automatically converted to an ABR Borrowing, (ii) the Borrower shall not be entitled to elect to convert or continue any Borrowing into or as an Adjusted Term SOFR Borrowing and (iii) any Daily Compounded SOFR Borrowing shall immediately be automatically converted to an ABR Borrowing.

Failure to Elect; Events of Default. If the Borrower fails to deliver a timely and complete Interest Election Request with respect to a SOFR EurodollarTerm Benchmark Borrowing prior to the end of the Interest Period thereforapplicable thereto, then, unless such Revolving SOFR Borrowing is repaid as provided herein, the Borrower shall be deemed to have selected that such Revolving SOFR Borrowing shall automatically be converted to an ABR Borrowing at the end of such Interest PeriodPeriod such Borrowing shall be converted to an ABR Borrowingdeemed to have an Interest Period that is one month. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as such an Event of Default is continuing (i) no outstanding Borrowing may be converted to or continued as a Revolving SOFR EurodollarTerm Benchmark Borrowing and (ii) unless repaid, each Revolving SOFR EurodollarTerm Benchmark Borrowing shall automatically be converted to an ABR Borrowing at the end of the Interest Period thereforapplicable thereto.

Failure to Elect; Events of Default. If the Borrower fails to deliver a timely and complete Interest Election Request with respect to a SOFR Borrowing prior to the end of the Interest Period therefor, then, unless such Revolving SOFR Borrowing is repaid as provided herein, the Borrower shall be deemed to have selected that such Revolving SOFR Borrowing shall automatically be converted to continued as a Revolving SOFR Borrowing with an ABR Borrowing Interest Period of one month at the end of such Interest Period. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as such Event of Default is continuing (i) no outstanding Borrowing may be converted to or continued as a Revolving SOFR Borrowing and (ii) unless repaidrepaid as provided herein, each Revolving SOFR Borrowing shall automatically be converted to an ABR Borrowing at the end of the Interest Period therefor.

Failure to Elect; Events of Default. If the Borrower fails to deliver a timely and complete Interest Election Request with respect to a Eurocurrencyan Adjusted Term SOFR Borrowing prior to the end of the Interest Period therefor, then, unless such Revolving SOFR Borrowing is repaid as provided herein, the Borrower shall be deemed to have selected that such Revolving SOFR Borrowing shall automatically be converted to an ABR Borrowing at the end of such Interest PeriodPeriod such Borrowing shall be converted to a Eurocurrencyan Adjusted Term SOFR Borrowing having an Interest Period of one (1) month. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as such Event of Default is continuing (i) no outstanding Borrowing may be converted to or continued as a Revolving any EurocurrencyAdjusted Term SOFR Borrowing and (ii) unless repaidshall, each Revolving at the end of the applicable Interest Period for such EurocurrencyAdjusted Term SOFR Borrowing shall Borrowing, be automatically be converted to an ABR Borrowing at and, (ii) the end of the Interest Period thereforBorrower shall not be entitled to elect to convert or continue any Borrowing into or as a Eurocurrencyan Adjusted Term SOFR Borrowing and (iii) any Daily Compounded SOFR Borrowing shall immediately be automatically converted to an ABR Borrowing.

Failure to Elect; Events of Default. If the Borrower fails to deliver a timely and complete Interest Election Request with respect to a SOFR Term Benchmark Borrowing prior to the end of the Interest Period thereforapplicable thereto, then, unless such Revolving SOFR Borrowing is repaid as provided herein, the Borrower shall be deemed to have selected that such Revolving SOFR Borrowing shall automatically be converted to an ABR Borrowing at the end of such Interest Period such Borrowing shall be continued as a Term Benchmark Borrowing with a one-month Interest Period. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as such an Event of Default is continuing (i) no outstanding Borrowing by Borrower may be converted to or continued as a Revolving SOFR Term Benchmark Borrowing and (ii) unless repaid, each Revolving SOFR Term Benchmark Borrowing of Borrower shall automatically be converted to an ABR Borrowing at the end of the Interest Period thereforapplicable thereto.

Failure to Elect; Events of Default. If the Borrower fails to deliver a timely and complete Interest Election Request with respect to a an Adjusted Term SOFR Borrowing prior to the end of the Interest Period therefor, then, unless such Revolving SOFR Borrowing is repaid as provided herein, the Borrower shall be deemed to have selected that such Revolving SOFR Borrowing shall automatically be converted to an ABR Borrowing at the end of such Interest PeriodPeriod such Borrowing shall be converted to an Adjusted Term SOFR Borrowing having an Interest Period of one (1) month. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as such Event of Default is continuing (i) no outstanding any Adjusted Term SOFR Borrowing may shall, at the end of the applicable Interest Period for such Adjusted Term SOFR Borrowing, be automatically converted to or continued as a Revolving SOFR an ABR Borrowing and (ii) unless repaid, each Revolving the Borrower shall not be entitled to elect to convert or continue any Borrowing into a SOFR Borrowing shall automatically be converted to an ABR Borrowing at the end of the Interest Period thereforBorrowing.