Changes in Market Interest Rates Sample Clauses

Changes in Market Interest Rates. (A) Subject to Section 7.06(b)(ii)(B), the Department will bear the risk and have the benefit of:‌
Sample 1Sample 2Sample 3See All (8)
AutoNDA by SimpleDocs
Changes in Market Interest Rates. (a) Subject to Section 3.6.1(b), TxDOT will bear the risk and have the benefit of:
Sample 1Sample 2Sample 3
Changes in Market Interest Rates. (a) Subject to Section 3.6.1(b), TxDOT will bear the risk and have the benefit of: (i) 100% of the impact of changes in Benchmark Rates (either positive or negative) solely with respect to PABs and TIFIA financing, taxable bonds and bank debt assumed and indicated in Developer’s Base Case Financial Model as presented at the Financial Proposal Due Date, for the period beginning at 10:00 a.m. on January 20, 2015 (the “first date of the of the market interest rate adjustment period”) and ending on the last date of the market interest rate adjustment period (as defined below); and (ii) 75% of the impact (either positive or negative) of the differences between (1) the credit spreads for bonds (whether PABs or taxable bonds but excluding TIFIA financing and bank debt) assumed and indicated in Developer’s Base Case Financial Model as presented at the Financial Proposal Due Date; and (2) the credit spreads for PABs or taxable bonds as obtained at the end of the market interest rate adjustment period. For the purposes of this Section 3.6.1, the “last date of the market interest rate adjustment period” means the earlier of 10:00 a.m. on the interest rate commitment date or 10:00 a.m. on the Financial Close Deadline (as may be extended); and “interest rate commitment date” means the date on which the interest rate is set for each respective debt instrument protected by this Section 3.6.1(a). (b) If the Financial Close Deadline is extended pursuant to Section 3.3.1(b) (first 30- day extension), the risk and benefit allocated to TxDOT pursuant to Section 3.6.1(a) shall be reduced to 75% of the risk and benefit otherwise allocated to TxDOT for the period of such extension (i.e., during such period, TxDOT will bear 75% of the impact of changes in Benchmark Rates and 56.25% of the impact of changes in credit spreads). If the Financial Close Deadline is extended pursuant to Section 3.3.1(c) (second 30-day extension), the risk and benefit allocated to TxDOT pursuant to Section 3.6.1(a) shall be reduced to 50% of the risk and benefit otherwise allocated to TxDOT for the period of such extension (i.e., during such period, TxDOT will bear 50% of the impact of changes in Benchmark Rates and 37.5% of the impact of changes in credit spreads). If the Financial Close Deadline is extended pursuant to Section 3.3.1(d) (discretionary extension) and such extension was not initiated by TxDOT, TxDOT will not bear any of the risk or have any of the benefit of the impact of changes describ...
Sample 1

Related to Changes in Market Interest Rates

  • FIXED RATES If a fixed rate is in this Agreement, it is based on an estimate of the costs for the period covered by the rate. When the actual costs for this period are determined, an adjustment will be made to a rate of a future year(s) to compensate for the difference between the costs used to establish the fixed rate and actual costs.

  • Interest Rates The Administrative Agent does not warrant, nor accept responsibility, nor shall the Administrative Agent have any liability with respect to the administration, submission or any other matter related to any reference rate referred to herein or with respect to any rate (including, for the avoidance of doubt, the selection of such rate and any related spread or other adjustment) that is an alternative or replacement for or successor to any such rate (including, without limitation, any Successor Rate) (or any component of any of the foregoing) or the effect of any of the foregoing, or of any Conforming Changes. The Administrative Agent and its affiliates or other related entities may engage in transactions or other activities that affect any reference rate referred to herein, or any alternative, successor or replacement rate (including, without limitation, any Successor Rate) (or any component of any of the foregoing) or any related spread or other adjustments thereto, in each case, in a manner adverse to the Borrower. The Administrative Agent may select information sources or services in its reasonable discretion to ascertain any reference rate referred to herein or any alternative, successor or replacement rate (including, without limitation, any Successor Rate) (or any component of any of the foregoing), in each case pursuant to the terms of this Agreement, and shall have no liability to the Borrower, any Lender or any other person or entity for damages of any kind, including direct or indirect, special, punitive, incidental or consequential damages, costs, losses or expenses (whether in tort, contract or otherwise and whether at law or in equity), for any error or other action or omission related to or affecting the selection, determination, or calculation of any rate (or component thereof) provided by any such information source or service.

  • Service Rates A. Seller will bill Buyer for Services furnished under this Order at the mark-up rates set forth in the Order. Shift Differential by site, if any, will be indicated in the Order.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!