Common use of Election of LIBOR Pricing Options Clause in Contracts

Election of LIBOR Pricing Options. (a) Subject to all the terms and conditions hereof and so long as no Default exists, ASC East, as agent for the Borrowers, may, by delivering a Pricing Notice to the Agent received at or before 10:00 a.m., Boston time, on the date two Business Days prior to the commencement of the Interest Period selected in such Pricing Notice, elect to have all or a portion of the Term Loans or the outstanding Revolving Credit Advances, as ASC East, as agent for the Borrowers, may specify in such Pricing Notice, accrue and bear daily interest during the Interest Period so selected at a per annum rate equal to the Applicable LIBOR Rate for such Interest Period; PROVIDED, HOWEVER, that any such election made with respect to the Term Loans or the Revolving Credit Advances shall be in an amount not less than $5,000,000 and in increments of $1,000,000; and PROVIDED FURTHER that no such election will be made if it would result in there being more than ten (10) LIBOR Pricing Options in the aggregate outstanding at any one time under this Agreement and the American Ski - West Credit Agreement. Interest on Loans bearing interest at the Applicable LIBOR Rate shall be payable quarterly in arrears on the last day of each fiscal quarter and when such Loan is due (whether at maturity, by reason of acceleration or otherwise).

Election of LIBOR Pricing Options. (a) Subject to all the terms and conditions hereof and so long as there exists no Default existsDefault, ASC East, as agent for the Borrowers, Borrower may, by delivering a Pricing Notice to the Agent received at or before 10:00 a.m., a.m. Boston time, time on the date two Business Days prior to the commencement of the Interest Period selected in such Pricing Notice, elect to have all or a portion of the Term Loans or the outstanding Revolving Credit Advances, as ASC East, as agent for the Borrowers, Borrower may specify in such Pricing Notice, accrue and bear daily interest during the Interest Period so selected at a per annum rate equal to the Applicable LIBOR Rate for such Interest Period; PROVIDED, HOWEVER, that any such election made with respect to the Term Loans or the Revolving Credit Advances shall be in an amount not less than $5,000,000 1,000,000 and in increments of $1,000,000100,000; and PROVIDED FURTHER that no such election will be made if it would result in there being more than ten four (104) LIBOR Pricing Options in the aggregate outstanding at any one time under this Agreement and the American Ski - West Credit Agreementtime. Interest on Loans bearing interest at the Applicable LIBOR Rate shall be payable quarterly in arrears paid for the applicable Interest Period on the last day of each fiscal quarter thereof and when such Loan is due (whether at maturity, by reason of acceleration or otherwise)) but at least semi-annually.

Election of LIBOR Pricing Options. (a) Subject to all the terms and conditions hereof and so long as there exists no Default existsDefault, ASC East, as agent for the Borrowers, Borrowers may, by delivering a Pricing Notice to the Administrative Agent 20 received at or before 10:00 a.m., a.m. Boston time, time on the date two (2) Business Days prior to the commencement of the Interest Period selected in such Pricing Notice, elect to have all or a portion of the Term Loans or the outstanding Revolving Credit AdvancesLoans, as ASC EastURI, as agent for the Borrowers, may specify in such Pricing Notice, accrue and bear daily interest during the Interest Period so selected at a per annum rate equal to the Applicable LIBOR Rate for such Interest Period; PROVIDED, HOWEVER, that any such election made with respect to the Term Loans or the Revolving Credit Advances shall be in an amount not less than $5,000,000 500,000 and in increments of $1,000,000100,000; and PROVIDED FURTHER that no such election will be made if it would result in there being more than ten four (104) LIBOR Pricing Options in the aggregate outstanding at any one time under this Agreement and the American Ski - West Credit Agreementtime. Interest on Loans bearing interest at the Applicable LIBOR Rate shall be payable quarterly in arrears paid for the applicable Interest Period on the last day of each fiscal quarter thereof and when such Loan is due (whether at maturity, by reason of acceleration or otherwise)) and if such Interest Period is longer than three (3) months, at intervals of three (3) months after the first day thereof.

Election of LIBOR Pricing Options. (a) Subject to all the terms and conditions hereof and so long as no Default exists, ASC EastWest, as agent for the Borrowers, may, by delivering a Pricing Notice to the Agent received at or before 10:00 a.m., Boston time, on the date two Business Days prior to the commencement of the Interest Period selected in such Pricing Notice, elect to have all or a portion of the Term Loans or the outstanding Revolving Credit Advances, as ASC EastWest, as agent for the Borrowers, may specify in such Pricing Notice, accrue and bear daily interest during the Interest Period so selected at a per annum rate equal to the Applicable LIBOR Rate for such Interest Period; PROVIDED, HOWEVER, that any such election made with respect to the Term Loans or the Revolving Credit Advances shall be in an amount not less than $5,000,000 and in increments of $1,000,000; and PROVIDED FURTHER that no such election will be made if it would result in there being more than ten (10) LIBOR Pricing Options in the aggregate outstanding at any one time under this Agreement and the American Ski - West ASC East Credit Agreement. Interest on Loans bearing interest at the Applicable LIBOR Rate shall be payable quarterly in arrears on the last day of each fiscal quarter and when such Loan is due (whether at maturity, by reason of acceleration or otherwise).