Common use of Determination of Interest Rate Clause in Contracts

Determination of Interest Rate. As soon as practicable after 11:00 a.m. (New York time) on the Eurodollar Interest Rate Determination Date, Lender shall determine (which determination shall, absent manifest error, be presumptively correct) the interest rate which is then being determined for the applicable Eurodollar Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to Borrower.

Appears in 3 contracts

Samples: Loan Agreement (Prime Group Realty Trust), Loan Agreement (Prime Group Realty Trust), Loan Agreement (Prime Group Realty Trust)

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Determination of Interest Rate. As soon as practicable after 11:00 a.m. 12:00 NOON (New York, New York time) on the any Eurodollar Interest Rate Determination Date, the Lender shall determine (which determination shall, absent manifest error, be presumptively correct) the interest rate which shall apply to the Eurodollar Rate Loans for which an interest rate is then being determined for the applicable Eurodollar Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to the Borrower.

Appears in 1 contract

Samples: Credit Loan Agreement (Intelligroup Inc)

Determination of Interest Rate. As soon as practicable after 11:00 a.m. (New York time) on the Eurodollar Interest Rate Determination Date, Lender the Agent shall determine (which determination shall, absent manifest error, be presumptively correct) the interest rate which shall apply to the Eurodollar Rate Loans for which an interest rate is then being determined for the applicable Eurodollar Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to Borrowerthe Borrowing Subsidiaries and to each Lender.

Appears in 1 contract

Samples: Credit Facility Agreement (JPS Textile Group Inc /De/)

Determination of Interest Rate. As soon as practicable after 11:00 a.m. (New York City time) on the Eurodollar Interest Rate Determination Date, Lender the Agent shall determine (which determination shall, absent manifest error, be presumptively correct) the interest rate which shall apply to the Eurodollar Rate Loans for which an interest rate is then being determined for the applicable Eurodollar Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to BorrowerBorrower and to each Lender.

Appears in 1 contract

Samples: Credit Agreement (American Classic Voyages Co)

Determination of Interest Rate. As soon as practicable after ------------------------------ 11:00 a.m. (New York City, New York time) on the any Eurodollar Interest Rate Determination Date, the Lender shall determine (which determination shall, absent manifest error, be presumptively correct) the interest rate which shall apply to the Eurodollar Rate Loans for which an interest rate is then being determined for the applicable Eurodollar Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to the Borrower.

Appears in 1 contract

Samples: Revolving Credit Loan Agreement (Saga Systems Inc /De/)

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Determination of Interest Rate. As soon as practicable after 11:00 a.m. (New York City time) on the Eurodollar Interest Rate Determination Date, Lender the Agent shall determine (which determination shall, absent manifest error, be presumptively correct) the interest rate which shall apply to the Eurodollar Rate Loans for which an interest rate is then being determined for the applicable Eurodollar Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to Borrower.the

Appears in 1 contract

Samples: Credit Agreement (American Classic Voyages Co)

Determination of Interest Rate. As soon as practicable after 11:00 a.m. A.M. (New York City, New York time) on the Eurodollar any Interest Rate Determination Date, the Lender shall determine (which determination shall, absent manifest error, be presumptively correct) the interest rate which is then being determined shall apply to the Loan for the applicable Eurodollar Interest Period and shall promptly give notice thereof (in writing or by telephone telephone, promptly confirmed in writing) to the Borrower.

Appears in 1 contract

Samples: Kensey Nash Corp

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