Election of Eurocurrency Rate; Notice of Election Sample Clauses

Election of Eurocurrency Rate; Notice of Election. Interest ----------------------------------------------------------- Periods; Minimum Amounts. ------------------------
Sample 1
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Election of Eurocurrency Rate; Notice of Election. (a) With respect to the Term Loan, at the Borrower's option, so long as no Default or Event of Default has occurred and is then continuing, the Borrower may (i) elect to convert any Base Rate Advance or a portion thereof to a Eurocurrency Advance denominated in Dollars, and, (ii) upon expiration of the applicable Interest Period, elect to maintain an existing Eurocurrency Advance as such, provided that the Borrower gives timely notice to the Managing Agent pursuant to (S)6.4(b) hereof. Upon determining any Eurocurrency Rate, the Managing Agent shall forthwith provide notice thereof to the Borrower and the Lenders, and each such notice to the Borrower and the Lenders shall be considered prima facie correct and binding, absent manifest error. (b) With respect to the Term Loan, three (3) Business Days prior to the conversion of any Base Rate Advance to a Eurocurrency Advance, or, in the case of an outstanding Eurocurrency Advance, the expiration date of the applicable Interest Period, an Authorized Signatory of the Borrower shall give written, telex or telecopy notice
Sample 1
Election of Eurocurrency Rate; Notice of Election. (a) With respect to the Multicurrency Loans and the Revolving Credit Loans, at the Borrower's option, so long as no Default or Event of Default has occurred and is then continuing, the Borrower may (i) elect to convert any Base Rate Advance or a portion thereof to a Eurocurrency Advance, (ii) at the time of any request for a Multicurrency Loan or Revolving Credit Loan, specify that such requested Multicurrency Loan or Revolving Credit Loan shall be a Eurocurrency Advance, or (iii) upon expiration of the applicable Interest Period, elect to maintain an existing Eurocurrency Advance as such, provided that the Borrower gives timely notice to the Managing Agent pursuant to (S)7.3(b) hereof. Upon determining any Eurocurrency Rate, the Managing Agent shall forthwith provide notice thereof to the Borrower and the Lenders, and each such notice to the Borrower and the Lenders shall be considered prima facie correct and binding, absent manifest error. (b) With respect to the Multicurrency Loans and the Revolving Credit Loans, three (3) Business Days prior to the making of any Multicurrency Loan or Revolving Credit Loan which is to be a Eurocurrency Advance, or the conversion of any Base Rate Advance to a Eurocurrency Advance, or, in the case of an outstanding Eurocurrency Advance, the expiration date of the applicable Interest Period, the Borrower shall give
Sample 1
Election of Eurocurrency Rate; Notice of Election. Interest ----------------------------------------------------------- Periods; Minimum Amounts. ------------------------ (a) With respect to the Revolving Credit Loans, at the Parent's option, so long as no Default or Event of Default has occurred and is then continuing, the Parent may (i) elect to convert any Base Rate Advance or a portion thereof to a Eurocurrency Advance, (ii) at the time of any request for a Revolving Credit Loan, specify that such requested Revolving Credit Loan shall be a Eurocurrency Advance, or (iii) upon expiration of the applicable Interest Period, elect to maintain an existing Eurocurrency Advance as such, provided that the Parent gives timely notice to the Managing Agent pursuant to (S)2.4(b) hereof. Upon determining any Eurocurrency Rate, the Managing Agent shall forthwith provide notice thereof to the Parent and the Lenders, and each such notice to the Parent and the Lenders shall be considered prima facie correct and binding, absent manifest error.
Sample 1
Election of Eurocurrency Rate; Notice of Election. Interest ----------------------------------------------------------- Periods; Minimum Amounts. ------------------------ (a) With respect to the Term Loan, at the U.S. Borrowers' option, so long as no Default or Event of Default has occurred and is then continuing, the U.S. Borrowers may (i) elect to convert any Base Rate Advance or a portion thereof to a Eurocurrency Advance, and, (ii) upon expiration of the applicable Interest Period, elect to maintain an existing Eurocurrency Advance as such, provided that the U.S. Borrowers give timely notice to the Managing Agent pursuant to (S)5.5(b) hereof. Upon determining any Eurocurrency Rate, the Managing Agent shall forthwith provide notice thereof to the U.S. Borrowers and the Lenders, and each such notice to the Borrowers and the Lenders shall be considered prima facie correct and binding, absent manifest error.
Sample 1

Related to Election of Eurocurrency Rate; Notice of Election

  • Borrowing/Election Notice The Borrower shall give the Administrative Agent an irrevocable Borrowing/Election Notice of each conversion of a Floating Rate Loan into a Eurodollar Rate Loan or continuation of a Eurodollar Rate Loan not later than 11:00 a.m. (Chicago time) three (3) Business Days prior to the date of the requested conversion or continuation, specifying: (i) the requested date (which shall be a Business Day) of such conversion or continuation; (ii) the amount and Type of the Loan to be converted or continued; and (iii) the amount of Eurodollar Rate Loan(s) into which such Loan is to be converted or continued, and the duration of the Interest Period applicable thereto.

  • Interest Period Commencing on the first (1st) Payment Date of the month following the month in which the Funding Date of the applicable Term Loan Advance occurs, and continuing on each Payment Date thereafter, Borrower shall make monthly payments of interest on the principal amount of each Term Loan Advance at the rate set forth in Section 2.2(a).

  • LIBOR Election (i) Borrower may, at any time and from time to time, so long as no Event of Default has occurred and is continuing, elect to exercise the LIBOR Option by notifying Agent prior to 11:00 a.m. (California time) at least 3 Business Days prior to the commencement of the proposed Interest Period (the “LIBOR Deadline”). Notice of Borrower’s election of the LIBOR Option for a permitted portion of the Advances and an Interest Period pursuant to this Section shall be made by delivery to Agent of a LIBOR Notice received by Agent before the LIBOR Deadline, or by telephonic notice received by Agent before the LIBOR Deadline (to be confirmed by delivery to Agent of a LIBOR Notice received by Agent prior to 5:00 p.m. (California time) on the same day). Promptly upon its receipt of each such LIBOR Notice, Agent shall provide a copy thereof to each of the affected Lenders.

  • Eurodollar CDs Any Portfolio Securities which are Eurodollar CDs may be physically held by the European branch of the U.S. banking institution that is the issuer of such Eurodollar CD (a "European Branch"), provided that such Portfolio Securities are identified on the books of the Bank as belonging to the Fund and that the books of the Bank identify the European Branch holding such Portfolio Securities. Notwithstanding any other provision of this Agreement to the contrary, except as stated in the first sentence of this subsection 6.8, the Bank shall be under no other duty with respect to such Eurodollar CDs belonging to the Fund.

  • Interest Election Notice To make an election pursuant to this Section, Borrower shall deliver, by hand delivery or telecopier, a duly completed and executed Interest Election Request to the Administrative Agent not later than the time that a Borrowing Request would be required under Section 2.03 if Borrower were requesting a Revolving Borrowing or Term Borrowing of the Type resulting from such election to be made on the effective date of such election. Each Interest Election Request shall be irrevocable. Each Interest Election Request shall specify the following information in compliance with Section 2.02:

  • Alternate Base Rate Loans During such periods as Revolving Loans shall be comprised of Alternate Base Rate Loans, each such Alternate Base Rate Loan shall bear interest at a per annum rate equal to the sum of the Alternate Base Rate plus the Applicable Percentage; and

  • Booking of Eurodollar Rate Loans Any Lender may make, carry or transfer Eurodollar Rate Loans at, to, or for the account of any of its branch offices or the office of an Affiliate of such Lender.

  • Suspension of LIBOR Rate Loans In the event that, prior to the commencement of any Interest Period relating to any LIBOR Rate Loan, the Agent shall determine that adequate and reasonable methods do not exist for ascertaining LIBOR for such Interest Period, or the Agent shall reasonably determine that LIBOR will not accurately and fairly reflect the cost of the Lenders making or maintaining LIBOR Rate Loans for such Interest Period, the Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the Lenders absent manifest error) to the Borrower and the Lenders. In such event (a) any Loan Request with respect to a LIBOR Rate Loan shall be automatically withdrawn and shall be deemed a request for a Base Rate Loan and (b) each LIBOR Rate Loan will automatically, on the last day of the then current Interest Period applicable thereto, become a Base Rate Loan, and the obligations of the Lenders to make LIBOR Rate Loans shall be suspended until the Agent determines that the circumstances giving rise to such suspension no longer exist, whereupon the Agent shall so notify the Borrower and the Lenders.

  • Interest Election Requests To make an election pursuant to this Section 2.04, the Borrower shall notify the Administrative Agent of such election by telephone by the time that a Borrowing Request would be required under Section 2.03 if the Borrower were requesting a Borrowing of the Type resulting from such election to be made on the effective date of such election. Each such telephonic Interest Election Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Interest Election Request in substantially the form of Exhibit C and signed by the Borrower.

  • Duration of normal Interest Periods Subject to Clauses 6.3 and 6.4, each Interest Period shall be:

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