Common use of Determination and Notification of Floating Interest Rates Clause in Contracts

Determination and Notification of Floating Interest Rates. Two (2) Business Days prior to the commencement of any Interest Period with respect to a Shelf Note that bears a floating interest rate, the Company shall determine the Adjusted LIBOR Rate (based on the LIBOR Rate Note Margin determined by MetLife pursuant to any Confirmation of Acceptance with respect to such Shelf Note), and will give notice to MetLife and the holders of such Shelf Note, together with a copy of the appropriate Bloomberg Financial Markets Newscreen or other display as specified in the definition of “LIBOR”, specifying the LIBOR Rate as so determined. In the event that MetLife does not concur with such determination by the Company as evidenced by notice to such Issuer by MetLife within ten (10) Business Days after receipt by MetLife of the notice delivered by the Company pursuant to the previous sentence, the determination of Adjusted LIBOR Rate shall be made by MetLife and shall be conclusive and binding absent demonstrable error. The Interest Period specified in the relevant Confirmation of Acceptance for a Note bearing a floating interest rate shall remain constant during the life of such Note.

Determination and Notification of Floating Interest Rates. Two (2) Business Days prior to the commencement of any Interest Period with respect to a Shelf Note that bears a floating interest rate, the Company shall determine the Adjusted LIBOR Rate (based on the LIBOR Rate Note Margin determined by MetLife pursuant to any Confirmation of Acceptance with respect to such Shelf Note), and will give notice to MetLife and the holders of such Shelf Note, together with a copy of the appropriate Bloomberg Financial Markets Newscreen or other display as specified in the definition of “LIBOR”, specifying the LIBOR Rate as so determined. In the event that MetLife does not concur with such determination by the Company as evidenced by notice to such Issuer by MetLife within ten (10) Business Days after receipt by MetLife of the notice delivered by the Company pursuant to the previous sentence, the determination of Adjusted LIBOR Rate shall be made by MetLife and shall be conclusive and binding absent demonstrable error. The Interest Period specified in the relevant Confirmation of Acceptance for a Note bearing a floating interest rate shall remain constant during the life of such Note.. Graybar Electric Company, Inc.

Determination and Notification of Floating Interest Rates. Two (2) Business Days prior to the commencement of any Interest Period with respect to a Shelf Note that bears a floating interest rate, the Company shall determine the Adjusted LIBOR Rate (based on the LIBOR Rate Note Margin determined by MetLife pursuant to any Confirmation of Acceptance with respect to such Shelf Note), and will give notice to MetLife and the holders of such Shelf Note, together with a copy of the appropriate Bloomberg Financial Markets Newscreen or other display as specified in the definition of “LIBOR”, specifying the LIBOR Rate rate as so determined. In the event that MetLife does not concur with such determination by the Company Company, as evidenced by notice to such Issuer the Company by MetLife within ten (10) Business Days after receipt by MetLife of the notice delivered by the Company pursuant to the previous sentence, the determination of Adjusted LIBOR Rate shall be made by MetLife and shall be conclusive and binding absent demonstrable error. The Interest Period specified in the relevant Confirmation of Acceptance for a Note bearing a floating interest rate shall remain constant during the life of such Note.