Committed Investor Funding Provisions. Each Investor Interest of Investors which are not Conduit Investors and each Investor Interest of Conduit Investors as to which Yield is to be determined pursuant to this Article IV, shall accrue Yield for each day during an Accrual Period at the applicable Bank Rate in accordance with the terms and conditions hereof. The initial Bank Rate for any Investor Interest funded by such Investors pursuant to the terms and conditions hereof shall be the LIBO Rate, unless (i) the availability of the LIBO Rate has been suspended pursuant to Section 4.3 below, or (ii) the applicable Managing Agent shall designate the Alternate Rate as the applicable rate of funding for such Investor Interest. If Yield on all or any portion of the Investor Interest of a Conduit Investor is first to be determined pursuant to this Article IV on a date other than the first day of an Accrual Period or if an Investor (other than a Conduit Investor) acquires all or any portion of the Investor Interest of the Conduit Investor in its Investor Group by assignment from such Conduit Investor, the initial Bank Rate for such Investor Interest (or such portion thereof) shall be determined in accordance with the preceding sentence.
Appears in 4 contracts
Samples: Receivables Purchase Agreement (Colorado Interstate Gas Co), Receivables Purchase Agreement (Anr Pipeline Co), Receivables Purchase Agreement (Tennessee Gas Pipeline Co)
