If No Notice. If Borrower submits a borrowing request without a Notice of Rate Selection, the Borrower authorizes the Lender in its discretion to (a) refuse to make the requested Term Loans, or (b) make such Term Loans as Variable Rate Advances. At the end of each applicable Interest Period, the applicable LIBOR Advance shall be converted to a Variable Rate Advance unless Borrower selects another option in accordance with the provisions of this Note.
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Sources: Credit Agreement (Cell Genesys Inc)
If No Notice. If Borrower submits a borrowing request without a Notice of Rate Selection, the Borrower authorizes the Lender in its discretion to (a) refuse to make the requested Term Loans, or (b) make such Term Loans as Variable Rate Advances. At the end of each applicable Interest Period, the applicable LIBOR Libor Advance shall be converted to a Variable Rate Advance unless Borrower selects another option in accordance with the provisions of this Note.
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