DESIGNATION OF INTEREST RATE Sample Clauses

DESIGNATION OF INTEREST RATE. The Company shall have the right to elect that a Loan be made as a LIBOR Loan or a Base Rate Loan; PROVIDED that, unless the Agent shall otherwise agree in writing, the Company may not elect that a Loan be made as a LIBOR Loan if after giving effect to such Loan there shall be more than five (5) different LIBOR Loans outstanding.
Sample 1Sample 2Sample 3See All (5)
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DESIGNATION OF INTEREST RATE. The Company shall have the right to make the following elections with respect to the conversion or continuation of any outstanding Base Rate Loan or LIBOR Loan:
Sample 1Sample 2Sample 3See All (5)
DESIGNATION OF INTEREST RATE. Borrower shall have the right to make the following elections with respect to the conversion or continuation of any outstanding Base Rate Loan or LIBOR Loan: (A) to convert, on any Business Day, any Base Rate Loan, in a minimum principal amount of $1,000,000 or an integral multiple of $100,000 in excess thereof, into a LIBOR Loan; or (B) to convert, on the last day of any Interest Period with respect to a LIBOR Loan (or, on any other day of any Interest Period, upon payment of any loss or expense incurred or sustained by any Lender with respect to the early termination of such LIBOR Loan prior to the last day of the Interest Period as provided in Section 3.4), such LIBOR Loan into a Base Rate Loan; or (C) to continue, on the last day of any Interest Period with respect to a LIBOR Loan (or, on any other day of any Interest Period, upon payment any loss or expense incurred or sustained by any Lender with respect to the early termination of such LIBOR Loan prior to the last day of the Interest Period as provided in Section 3.4), such LIBOR Loan (or any part thereof in a minimum principal amount of $1,000,000 or an integral multiple of $100,000 in excess thereof) for a subsequent Interest Period; provided, that unless the Agent shall otherwise agree in writing, Borrower may not elect to have any outstanding LIBOR Loan or Base Rate Loan (or any portion thereof) continued as or converted into a LIBOR Loan if (A) a Default or Event of Default shall exist, (B) after giving effect to such continuation or conversion there shall be more than five different LIBOR Loans outstanding or the outstanding principal amount of any LIBOR Loans shall have been reduced, by payment, prepayment, or partial conversion to less than $1,000,000.
Sample 1
DESIGNATION OF INTEREST RATE. Lessee shall have the right:
Sample 1
DESIGNATION OF INTEREST RATE. Borrower may elect that a Loan be made as a LIBOR Loan or a Base Rate Loan; PROVIDED that, unless the Agent otherwise agrees in writing, Borrower may not elect that a Loan be made as a LIBOR Loan, if in addition to such Loan there will be more than five (5) LIBOR Loans outstanding.
Sample 1
DESIGNATION OF INTEREST RATE. The Initial Loans shall be made as Base Rate Loans. On the Closing Date the Company shall deliver to the Agent a Notice of Conversion/Continuation requesting the conversion of the entire amount of such Loans to a LIBOR Loan as of a date no later than the fourth (4th) Business Day after the date such Loan is disbursed.
Sample 1
DESIGNATION OF INTEREST RATE. The Company shall have the right to elect that a Subsequent Loan be made as a LIBOR Loan or a Base Rate Loan; PROVIDED that after giving effect to such Subsequent Loan there shall not be more than three (3) different LIBOR Loans outstanding; and provided further that, except as otherwise provided in Section 2.04(a), if the Company elects that a Subsequent Loan be made as a Base Rate Loan, on the date such Loan is disbursed, Company shall deliver to the Agent a Notice of Conversion/Continuation requesting the conversion of the entire amount of such Loans to a LIBOR Loan as of a date no later than the fourth (4th) Business Day after the date such Loan is disbursed.
Sample 1
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Related to DESIGNATION OF INTEREST RATE

  • 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).

  • 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:

  • 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.

  • 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.

  • Determination of Interest (a) The Administrative Agent shall determine the Interest (including unpaid Interest related thereto, if any, due and payable on a prior Payment Date) to be paid by the Borrower on each Payment Date for the related Accrual Period and shall advise the Collateral Agent, the Collateral Manager and the Borrower thereof on the third Business Day prior to such Payment Date.

  • Computation of Interest, Fees, Yield Protection All interest, as well as fees and other charges calculated on a per annum basis, shall be computed for the actual days elapsed, based on a year of 360 days. Each determination by Agent of any interest, fees or interest rate hereunder shall be final, conclusive and binding for all purposes, absent manifest error. All fees shall be fully earned when due and shall not be subject to rebate, refund or proration. All fees payable under Section 3.2 are compensation for services and are not, and shall not be deemed to be, interest or any other charge for the use, forbearance or detention of money. A certificate as to amounts payable by Borrowers under Section 3.4, 3.6, 3.7, 3.9 or 5.9, submitted to Borrower Agent by Agent or the affected Lender, as applicable, shall be final, conclusive and binding for all purposes, absent manifest error, and Borrowers shall pay such amounts to the appropriate party within 10 days following receipt of the certificate.

  • Computation of Interest Except as otherwise specified as contemplated by Section 301 for Securities of any series, interest on the Securities of each series shall be computed on the basis of a 360-day year of twelve 30-day months.

  • Limitation of Interest It is the intention of each Borrower and Lender to conform strictly to applicable usury laws. Accordingly, if the transactions contemplated hereby would be usurious under applicable law, then, in that event, notwithstanding anything to the contrary in any Loan Document, it is agreed as follows: (i) the aggregate of all consideration which constitutes interest under applicable law that is taken, reserved, contracted for, charged or received under any Loan Document or otherwise in connection with the Loan shall under no circumstances exceed the maximum amount of interest allowed by applicable law, and any excess shall be credited to principal by Lender (or if the Loan shall have been paid in full, refunded to any Borrower); and (ii) in the event that maturity of the Loan is accelerated by reason of an election by Lender resulting from any default hereunder or otherwise, or in the event of any required or permitted prepayment, then such consideration that constitutes interest may never include more than the maximum amount of interest allowed by applicable law, and any interest in excess of the maximum amount of interest allowed by applicable law, if any, provided for in the Loan Documents or otherwise shall be cancelled automatically as of the date of such acceleration or prepayment and, if theretofore prepaid, shall be credited to principal (or if the principal portion of the Loan and any other amounts not constituting interest shall have been paid in full, refunded to any Borrower.) In determining whether or not the interest paid or payable under any specific contingency exceeds the maximum amount allowed by applicable law, Lender shall, to the maximum extent permitted under applicable law (a) exclude voluntary prepayments and the effects thereof, and (b) amortize, prorate, allocate and spread, in equal parts, the total amount of interest throughout the entire contemplated term of the Loan so that the interest rate is uniform throughout the entire term of the Loan; provided, that if the Loan is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the maximum amount allowed by applicable law, Lender shall refund to any Borrower the amount of such excess, and in such event, Lender shall not be subject to any penalties provided by any laws for contracting for, charging or receiving interest in excess of the maximum amount allowed by applicable law.

  • Determination of Interest Rate Basis The Calculation Agent shall determine the rate derived from each Interest Rate Basis in accordance with the following provisions.

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

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