Conversion of Interest Rate Periods Sample Clauses

Conversion of Interest Rate Periods. At the end of each applicable Interest Period, the applicable LIBOR Rate Advance shall be converted to an Interest Period of one (1) month unless Borrower selects another Interest Period in accordance with the provisions of this Agreement.
Sample 1Sample 2
AutoNDA by SimpleDocs
Conversion of Interest Rate Periods. At the direction of the City, from time to time, the Bonds may be Converted from an Interest Rate Period to another Interest Rate Period as provided in Sections 2.12(d)(ii), 2.12(e)(ii), 2.12(f)(ii) and 2.12(g)(ii) hereof.
Sample 1
Conversion of Interest Rate Periods. Except as otherwise provided in Section 2.03(f)(ii), the Interest Rate Period for the Authority Notes may be changed under this Section 2.03(f) from any Interest Rate Period to any other Interest Rate Period, on any Conversion Date by the Borrower giving written notice of such change (a “Conversion Notice”) to the Remarketing Agent, if any, the Market Agent, if any, the Calculation Agent, the Trustee and during an Index Interest Rate Period, each Holder, with a copy to the Authority, the Paying Agent, the Rating Agency, if any, rating the Authority Notes and the Credit Bank, if any; provided, however, that during an Index Interest Rate Period, the Interest Rate Period may not be changed to another Interest Rate Period or from an Index Interest Rate Period to a new Index Interest Rate Period without the prior written consent of the Bank. During a period other than an Index Interest Rate Period, the Conversion Notice must be received by the Remarketing Agent or the Calculation Agent, as applicable, and the Trustee at least twenty-five (25) days prior to the proposed Conversion Date, and, except as otherwise provided in Section 2.03(f)(ii), during an Index Interest Rate Period, the Conversion Notice must be received by the Remarketing Agent, if any, the Market Agent, if any, the Calculation Agent, the Trustee and the Bank at least sixty (60) days prior to the proposed Conversion Date. Except as otherwise provided in Section 2.03(f)(ii), each Conversion Notice shall state (i) that the Borrower elects to change the Interest Rate Period for the Authority Notes to a new Interest Rate Period, (ii) the proposed Conversion Date, (iii) the Interest Rate Period to be in effect from and after such Conversion Date, (iv) whether an Alternate Letter of Credit or Alternate Credit Facility is to be in effect from and after such Conversion Date, and, if so, the terms of such credit facility, and (v) if a Term Interest Rate is to be in effect from and after such Conversion Date, and if redemption premiums different from those set forth in Section 4.01(7) are to be applicable, the redemption premiums to be applicable during such Term Interest Rate Period. In addition, if an Index Interest Rate is to be in effect immediately following such Conversion Date, such Conversion Notice shall state (1) whether such Index Interest Rate shall be a SIFMA Index Rate or a LIBOR Index Rate, (2) the new Bank Purchase Date, (3) the new Applicable Spread and (4) if such Index Interest Rate shal...
Sample 1
Conversion of Interest Rate Periods. At the direction of the School Board, from time to time, some or all of the Series 2014A Certificates maturing on July 1, 2029, may be converted from an Interest Rate Period to one or more other Interest Rate Periods as provided in Section 202(b)(ii), 202(c)(ii), 202(d)(ii), 202(e)(ii), 202(i)(ii) or 204(k).
Sample 1

Related to Conversion of Interest Rate Periods

  • 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.

  • Determination of Interest Periods Every Interest Period shall be of the duration specified by the Borrowers pursuant to clause 3.2 but so that:

  • 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.

  • Duration of Interest Periods The duration of each Interest Period relating to the Advance shall, save as otherwise provided herein, be one, three, six or twelve months, or any such other period as may be agreed from time to time between the Borrower and the Agent, in each case as the Borrower may select by not less than three business days' prior notice to the Agent Provided that:

  • Selection of Interest Periods (a) A Borrower (or the Company on behalf of a Borrower) may select an Interest Period for a Loan in the Utilisation Request for that Loan.

  • Determination of Interest Rate (a) The Applicable Interest Rate with respect to the Loan shall be: (i) LIBOR plus the Spread with respect to the applicable Interest Period for a LIBOR Loan or (ii) the Prime Rate plus the Prime Rate Spread for a Prime Rate Loan if the Loan is converted to a Prime Rate Loan pursuant to the provisions of Section 2.2.3(c) or Section 2.2.3(f).

  • Duration of Interest Periods for repayment instalments In respect of an amount due to be repaid under Clause 8 on a particular Repayment Date, an Interest Period shall end on that Repayment Date.

  • Calculation of interest The rate of interest on each Loan for each Interest Period is the percentage rate per annum which is the aggregate of the applicable:

  • 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.

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

Time is Money Join Law Insider Premium to draft better contracts faster.