Common use of Determination of Interest Rate Clause in Contracts

Determination of Interest Rate. As soon as practicable on an Interest Rate Determination Date, the Administrative Agent shall determine (which determination shall, absent manifest error, be final, conclusive and binding upon all parties) the interest rate which shall apply to the Eurodollar 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 the Borrower and to each Lender.

Appears in 4 contracts

Samples: Credit Agreement (Textron Inc), Term Credit Agreement (Textron Inc), Credit Agreement (Textron Inc)

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Determination of Interest Rate. As soon as practicable on an Interest the applicable Fixed Rate Determination Date, the Administrative Agent shall determine (which determination shall, absent manifest error, be final, conclusive and binding upon all partiespursuant to the procedures set forth in the definition of “Fixed Rate”) the interest rate which shall apply to the Eurodollar Fixed Rate Loans for which an interest rate is then being determined for the applicable Interest Period and currency and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to the Borrower applicable Borrowers and to each Lender. The Administrative Agent’s determination shall be presumed to be correct, absent manifest error, and shall be binding upon such Borrowers.

Appears in 2 contracts

Samples: Credit Agreement (Nacco Industries Inc), Credit Agreement (NMHG Holding Co)

Determination of Interest Rate. As soon as practicable on an Interest the applicable Fixed Rate Determination Date, the Administrative Agent shall determine (which determination shall, absent manifest error, be final, conclusive and binding upon all partiespursuant to the procedures set forth in the definition of "Fixed Rate") the interest rate which shall apply to the Eurodollar Fixed Rate Loans for which an interest rate is then being determined for the applicable Interest Period and currency and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to the Borrower Borrowers and to each Lender. The Administrative Agent's determination shall be presumed to be correct, absent manifest error, and shall be binding upon such Borrowers.

Appears in 2 contracts

Samples: Credit Agreement (Donna Karan International Inc), Credit Agreement (Donna Karan International Inc)

Determination of Interest Rate. As soon as practicable on an Interest the Fixed Rate Determination Date, the Administrative Agent shall determine (which determination shall, absent manifest error, be final, conclusive and binding upon all parties) the interest rate which shall apply to the Eurodollar Fixed 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 the Borrower Borrowers and to each Lender. The Administrative Agent's determination shall be presumed to be correct, absent manifest error, and shall be binding upon the Borrowers.

Appears in 2 contracts

Samples: Credit Agreement (Barneys New York Inc), Credit Agreement (Barneys New York Inc)

Determination of Interest Rate. As soon as is practicable after 11:00 a.m. (Central time) on an the Interest Rate Determination Date, the Administrative Agent shall determine (which determination shall, absent manifest error, be final, conclusive and binding upon all parties) the interest rate which that shall apply to the Eurodollar 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 the Borrower and to each Lender.

Appears in 2 contracts

Samples: Credit Agreement (I Trax Inc), Credit Agreement (Symbion Inc/Tn)

Determination of Interest Rate. As soon as practicable on an Interest Rate Determination Date, the Administrative Agent shall determine (which determination shall, absent manifest error, be final, conclusive and binding upon all parties) the interest rate which shall apply to the Eurodollar 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 the Borrower and to each Lender.

Appears in 2 contracts

Samples: Credit Agreement (Textron Inc), Credit Agreement (Textron Inc)

Determination of Interest Rate. As soon as practicable on an Interest the applicable Fixed Rate Determination Date, the Administrative Agent shall determine (which determination shall, absent manifest error, be final, conclusive and binding upon all partiespursuant to the procedures set forth in the definition of “Fixed Rate”) the interest rate which shall apply to the Eurodollar Fixed Rate Loans for which an interest rate is then being determined for the applicable Interest Period and currency and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to the Borrower and to each Lender.Credit Agreement

Appears in 1 contract

Samples: Credit Agreement (NMHG Holding Co)

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Determination of Interest Rate. As soon as ------------------------------- practicable on an Interest Rate Determination Datetwo Business Days prior to the Funding Date or date of conversion or continuation, the Administrative Agent shall determine (which determination shall, absent manifest error, be final, conclusive and binding upon all partiespresumptively correct) the interest rate which shall apply to the Eurodollar 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 the Borrower and to each Lender.

Appears in 1 contract

Samples: Taylor Ann Stores Corp

Determination of Interest Rate. As soon as practicable on an Interest Rate Determination Datebut in no ------------------------------- event later than two Business Days prior to the Funding Date or date of conversion or continuation, the Administrative Agent shall determine (which determination shall, absent manifest error, be final, conclusive and binding upon all partiespresumptively correct) the interest rate which shall apply to the Eurodollar 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 the Borrower and to each Lender.

Appears in 1 contract

Samples: Credit Agreement (Taylor Ann Stores Corp)

Determination of Interest Rate. As soon as practicable on an Interest Rate Determination Date, the The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and shall promptly notify the Borrower and the Lenders of such rate in writing (which or by telephone, promptly confirmed in writing). Any such determination shallshall be conclusive and binding for all purposes, absent manifest error, be final, conclusive and binding upon all parties) the interest rate which shall apply to the Eurodollar 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 the Borrower and to each Lender.

Appears in 1 contract

Samples: Credit Agreement (NetSpend Holdings, Inc.)

Determination of Interest Rate. As soon as practicable on an Interest the applicable Fixed Rate Determination Date, the Administrative Agent shall determine (which determination shall, absent manifest error, be final, conclusive and binding upon all partiespursuant to the procedures set forth in the definition of “Fixed Rate”) the interest rate which shall apply to the Eurodollar Fixed Rate Loans for which an interest rate is then being determined for the applicable Interest Period and currency and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to the Borrower applicable Borrowers and to each Lender. The Administrative Agent's determination shall be presumed to be correct, absent manifest error, and shall be binding upon such Borrowers.

Appears in 1 contract

Samples: Credit Agreement (Nacco Industries Inc)

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