Determination of Applicable Interest Rate. As soon as practicable after 9:00 A.M. (Los Angeles time) on each Interest Rate Determination Date, Agent shall determine (which determination shall, absent manifest error, be final, conclusive and binding upon all parties) the interest rate that shall apply to the LIBOR Rate Loans for which an interest rate is then being determined for the applicable Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to Company and each Lender.
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Samples: Credit Agreement (Varco International Inc), Credit Agreement (Bell Industries Inc), Credit Agreement (Varco International Inc)
Determination of Applicable Interest Rate. As soon as practicable after 9:00 10:00 A.M. (Los Angeles San Francisco time) on each Interest Rate Determination Date, Administrative Agent shall determine (which determination shall, absent manifest error, be final, conclusive and binding upon all parties) the interest rate that shall apply to the LIBOR Rate Loans for which an interest rate is then being determined for the applicable Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to Company and each Lender.
Appears in 1 contract
Samples: Credit Agreement (Cyrk Inc)
Determination of Applicable Interest Rate. As soon as practicable after 9:00 11:00 A.M. (Los Angeles time) on each Interest Rate Determination Date, Agent Bank shall determine (which determination shall, absent manifest error, be final, conclusive and binding upon all parties) the interest rate that shall apply to the LIBOR Rate Loans for which an interest rate is then being determined for the applicable Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to Company and each LenderCompany.
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