Common use of Determination of Rate Clause in Contracts

Determination of Rate. Each change in the rate of interest for any Borrowing shall become effective, without prior notice to the applicable Borrower, automatically as of the opening of business of the Administrative Agent on the date of said change. The Administrative Agent shall promptly notify the Borrower and the Lenders of the interest rate applicable to any Interest Period for RFR Rate Loans upon determination of such interest rate. The determination of the RFR by the Administrative Agent shall be conclusive in the absence of manifest error. At any time that Alternate Base Rate Loans are outstanding, the Administrative Agent shall notify the Borrower and the Lenders of any change in the Prime Rate used in determining the Alternate Base Rate promptly following the public announcement of such change.

Determination of Rate. Each change in the rate of interest for any Borrowing shall become effective, without prior notice to the applicable Borrower, automatically as of the opening of business of the Administrative Agent on the date of said change. The Administrative Agent shall promptly notify the Borrower and the Lenders of the interest rate applicable to any Interest Period for RFR Rate LIBOR RateRFR Loans upon determination of such interest rate. The determination of the RFR LIBOR RateRFR by the Administrative Agent shall be conclusive in the absence of manifest error. At any time that Alternate Base Rate Loans are outstanding, the Administrative Agent shall notify the Borrower and the Lenders of any change in the Prime Rate used in determining the Alternate Base Rate promptly following the public announcement of such change.