Common use of Information in Interest Election Requests Clause in Contracts

Information in Interest Election Requests. Each written Interest Election Request shall specify the following information in compliance with Section 2.02: (i) the Borrowing to which such Interest Election Request applies and, if different options are being elected with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to Section 2.04(c)(iii) shall be specified for each resulting Borrowing); (ii) the effective date of the election made pursuant to such Interest Election Request, which shall be a Business Day; (iii) whether the resulting Borrowing is to be an ABR Borrowing or a SOFR Borrowing; and (iv) if the resulting Borrowing is a SOFR Borrowing, the Interest Period therefor after giving effect to such election. If any such Interest Election Request requests a SOFR Borrowing but does not specify an Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration.

Information in Interest Election Requests. Each telephonic and written Interest Election Request shall specify the following information in compliance with Section 2.022.2: (i) A. the Borrowing Loan to which such Interest Election Request applies and, if different options are being elected with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing Loan (in which case the information to be specified pursuant to Section 2.04(c)(iiiSections 2.3(d)(iii)(B) and (C) shall be specified for each resulting BorrowingLoan); (ii) B. the effective date of the election made pursuant to such Interest Election Request, which shall be a Business Day; (iii) C. whether the resulting Borrowing is to be an ABR Borrowing Alternate Base Rate Loan or a SOFR BorrowingLoan; and (iv) D. if the resulting Borrowing Loan is a SOFR BorrowingLoan, the Interest Period therefor to be applicable thereto after giving effect to such election, which shall be a period contemplated by the definition of the term “Interest Period”. If any such Interest Election Request requests a SOFR Borrowing Loan but does not specify an Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one (1) month’s duration.