Availability of Interest Rate Options Sample Clauses

Availability of Interest Rate Options. If Lender determines that maintenance of any of its IBOR Rate Loans would violate any applicable law, rule, regulation or directive, whether or not having the force of law, Lender shall suspend the availability of such IBOR Rate Loans and require any IBOR Rate Loans outstanding and so affected to be repaid; or if Lender determines that (i) deposits of a type or maturity appropriate to match fund IBOR Rate Loans are not available, (ii) the IBOR Rate does not accurately reflect the cost of making such Loans, or (iii) Lender's ability to make or maintain IBOR Rate Loans has been materially adversely affected by the occurrence of any event after the date hereof, then Lender shall suspend the availability of the IBOR Rate Loans, as applicable, after the date of any such determination.
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Availability of Interest Rate Options. If any Lender determines that maintenance of any of its IBOR Rate Loans would violate any applicable law, rule, regulation or directive, whether or not having the force of law, such Lender shall immediately notify Agent thereof and Agent shall suspend the availability of such IBOR Rate Loans and require any IBOR Rate Loans outstanding and so affected to be repaid or, at Borrower's option, converted to Base Rate Loans; or if any Lender determines that (i) deposits of a type or maturity appropriate to match fund IBOR Rate Loans are not available, (ii) the IBOR Rate does not accurately reflect the cost of making such Revolving Loans, or (iii) such Lender's ability to make or maintain IBOR Rate Loans has been materially adversely affected by the occurrence of any event after the date hereof, then such Lender shall immediately notify Agent thereof and Agent shall suspend the availability of the IBOR Rate Loans, as applicable, after the date of any such determination, and any existing IBOR Rate Loans shall be converted to Base Rate Loans as soon as practicable and in any case no later than the end of the applicable Interest Rate Period.
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Availability of Interest Rate Options. If any Lender determines that maintenance of any of its LIBOR Rate Loans would violate any applicable law, rule, regulation or directive, whether or not having the force of law, the Lender shall immediately notify Agent thereof and Agent shall suspend the availability of such LIBOR Rate Loans and require any LIBOR Rate Loans outstanding and so affected to be repaid; or if any Lender determines that (i) deposits of a type or maturity appropriate to match fund LIBOR Rate Loans are not available, (ii) the LIBOR Rate does not accurately reflect the cost of making
Sample 1
Availability of Interest Rate Options. If either Funding Agent determines that maintenance of any of Fixed Rate Loans would violate any applicable law, rule, regulation or directive, whether or not having the force of law, such Funding Agent shall immediately notify Administrative Agent and the other Funding Agent thereof and Agents shall suspend the availability of such Fixed Rate Loans and require any such Fixed Rate Loans outstanding and so affected to be repaid or, in the case of BA Availments, provided for by way of cash collateral in the amount of the Bankers' Acceptance Obligations at such time; or if the Funding Agent determines that (i) deposits or instruments of a type or maturity appropriate to match fund any Fixed Rate Loans are not available, (ii) the applicable Fixed Rate does not accurately reflect the cost of making such Loans, (iii) such Funding Agent's ability to make or maintain any Fixed Rate Loans has been materially adversely affected by the occurrence of any event after the date hereof, or (iv) adequate and reasonable means do not exist for determining any Fixed Rate for any requested Interest Rate Period or term (if with respect to a BA Availment) with respect to any proposed Fixed Rate Loan, then such Funding Agent shall immediately notify Administrative Agent and the other Funding Agent thereof and Agents shall suspend the availability of such Fixed Rate Loans, as applicable, after the date of any such determination.
Sample 1

Related to Availability of Interest Rate Options

  • Interest Rate Options The Borrower shall pay interest in respect of the outstanding unpaid principal amount of the Loans as selected by it from the Base Rate Option or LIBOR Rate Option set forth below applicable to the Loans, it being understood that, subject to the provisions of this Agreement, the Borrower may select different Interest Rate Options and different Interest Periods to apply simultaneously to the Loans comprising different Borrowing Tranches and may convert to or renew one or more Interest Rate Options with respect to all or any portion of the Loans comprising any Borrowing Tranche; provided that (i) there shall not be at any one time outstanding more than ten (10) Borrowing Tranches in the aggregate among all of the Loans and (ii) if an Event of Default or Potential Default exists and is continuing, the Borrower may not request, convert to, or renew the LIBOR Rate Option for any Loans and the Required Lenders may demand that all existing Borrowing Tranches bearing interest under the LIBOR Rate Option shall be converted immediately to the Base Rate Option, subject to the obligation of the Borrower to pay any indemnity under Section 5.9 [Indemnity] in connection with such conversion. If at any time the designated rate applicable to any Loan made by any Lender exceeds such Lender’s highest lawful rate, the rate of interest on such Lender’s Loan shall be limited to such Lender’s highest lawful rate.

  • Selection of Interest Rate Options At any time any portion of this Note bears interest determined in relation to LIBOR, it may be continued by Borrower at the end of the Fixed Rate Term applicable thereto so that all or a portion thereof bears interest determined in relation to the Prime Rate or to LIBOR for a new Fixed Rate Term designated by Borrower. At any time any portion of this Note bears interest determined in relation to the Prime Rate, Borrower may convert all or a portion thereof so that it bears interest determined in relation to LIBOR for a Fixed Rate Term designated by Borrower. At such time as Borrower requests an advance hereunder or wishes to select a LIBOR option for all or a portion of the outstanding principal balance hereof, and at the end of each Fixed Rate Term, Borrower shall give Bank notice specifying: (i) the interest rate option selected by Borrower; (ii) the principal amount subject thereto; and (iii) for each LIBOR selection, the length of the applicable Fixed Rate Term. Any such notice may be given by telephone (or such other electronic method as Bank may permit) so long as, with respect to each LIBOR selection, (A) if requested by Bank, Borrower provides to Bank written confirmation thereof not later than three (3) Business Days after such notice is given, and (B) such notice is given to Bank prior to 10:00 a.m. on the first day of the Fixed Rate Term, or at a later time during any Business Day if Bank, at it’s sole option but without obligation to do so, accepts Borrower’s notice and quotes a fixed rate to Borrower. If Borrower does not immediately accept a fixed rate when quoted by Bank, the quoted rate shall expire and any subsequent LIBOR request from Borrower shall be subject to a redetermination by Bank of the applicable fixed rate. If no specific designation of interest is made at the time any advance is requested hereunder or at the end of any Fixed Rate Term, Borrower shall be deemed to have made a Prime Rate interest selection for such advance or the principal amount to which such Fixed Rate Term applied.

  • Revolving Credit Interest Rate Options The Borrower shall have the right to select from the following Interest Rate Options applicable to the Revolving Credit Loans:

  • Application Among Interest Rate Options All prepayments required pursuant to this Section 5.05 shall first be applied among the Interest Rate Options to the principal amount of the Loans subject to a Base Rate Option, then to Loans subject to Euro-Rate Option. In accordance with Section 5.06(b), the Borrower shall indemnify the Banks for any loss or expense including loss of margin incurred with respect to any such prepayments applied against Loans subject to a Euro-Rate Option on any day other than the last day of the applicable Euro-Rate Interest Period.

  • Notification of Interest Periods and interest rate The Agent shall notify the Borrowers and the Banks promptly of the duration of each Interest Period and of each rate of interest (or, as the case may be default interest) determined by it under this clause 3.

  • Notification of Interest Periods and rates of normal interest The Agent shall notify the Borrower and each Lender of:

  • Notification of interest periods and default rates The Agent shall promptly notify the Lenders and the Borrower of each interest rate determined by the Agent under Clause 7.3 and of each period selected by the Agent for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Agent’s notification.

  • Choice of Interest Rate, Etc The Advances hereunder shall, at the option of the Borrower, be made as one or more Base Rate Advances or LIBOR Advances; provided, however, that at such time as there shall have occurred and be continuing a Default hereunder, the Borrower shall not have the right to Continue a LIBOR Advance or to Convert a Base Rate Advance to a LIBOR Advance. Any notice given to the Administrative Agent in connection with a requested Advance or Conversion hereunder shall be given to the Administrative Agent prior to 11:00 a.m. (New York, New York time) in order for such Business Day to count toward the minimum number of Business Days required.

  • Notice of Interest Period and Interest Rate Promptly after receipt of a Notice of Borrowing pursuant to Section 2.02(a), a notice of Conversion pursuant to Section 2.09 or a notice of selection of an Interest Period pursuant to the definition of “Interest Period”, the Administrative Agent shall give notice to the Borrower and each Lender of the applicable Interest Period and the applicable interest rate determined by the Administrative Agent for purposes of clause (a)(i) or (a)(ii) above.

  • Optional Conversion of Revolving Credit Advances The Borrower may on any Business Day, upon notice given to the Agent not later than 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.07 and 2.11(a), Convert all Revolving Credit Advances of one Type comprising the same Borrowing into Revolving Credit Advances of the other Type (it being understood that such Conversion of a Revolving Credit Advance or of its Interest Period does not constitute a repayment or prepayment of such Revolving Credit Advance); provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Revolving Credit Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall be substantially in the form of Exhibit H hereto, and shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Revolving Credit Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Eurodollar Rate Advance. Each notice of Conversion shall be irrevocable and binding on the Borrower.

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