Fixed Rate Setting Sample Clauses

Fixed Rate Setting. The Borrower may notify the Tranche A Loan Participants of its request, pursuant to the Notice of Borrowing, for the Tranche A Loans to bear interest at a Fixed Rate, which Fixed Rate shall be fixed two Business Days prior to the Funding Date (the “Swap Effective Date”). Upon delivery by the Borrower of the Notice of Borrowing relating to any Fixed Rate Loans to the Administrative Agent and Tranche A Loan Participants, the following procedures shall apply to determine the “Fixed Rate” for such Tranche A Loans:
Sample 1
AutoNDA by SimpleDocs
Fixed Rate Setting. The Borrower may notify the Senior Loan Participants of its request, pursuant to the Notice of Borrowing, for the Senior Loans to bear interest at a Fixed Rate, which Fixed Rate shall be fixed two Business Days prior to the Funding Date (the “Swap Effective Date”). Upon delivery by the Borrower of the Notice of Borrowing relating to any Fixed Rate Loans to the Senior Agent and Senior Loan Participants, the following procedures shall apply to determine the “Fixed Rate” for such Senior Loans:
Sample 1
Fixed Rate Setting. The Borrower may notify the Agent of its request, pursuant to the Notice of Borrowing for the Loan in respect of any Designated Aircraft, to have such Loan bear interest at a fixed rate (a “Fixed Rate Notice”), which Fixed Rate shall be fixed two Business Days prior to the Funding Date of such Designated Aircraft and be effective on such Funding Date (the “Swap Effective Date”). Upon delivery by the Borrower of a Fixed Rate Notice to the Agent, the following procedures shall apply to determine the “Swap Rate”:
Sample 1
Fixed Rate Setting. The Owner (acting at the direction of the Lessee) may notify the Junior Purchasers of its request, pursuant to the Notice of Issuance in respect of any Designated Aircraft, for the Junior Notes in respect of such Designated Aircraft to bear interest at a Fixed Rate, which Fixed Rate shall be fixed two Business Days prior to the Issuance Date for such Aircraft (the “Swap Effective Date”). Upon delivery by the Owner of the Notice of Issuance relating to any Fixed Rate Notes of a particular Series to the Junior Agent and Junior Purchasers, the following procedures shall apply to determine the “Fixed Rate” for such Series of Junior Notes:
Sample 1
Fixed Rate Setting. The Borrower may notify the Loan Participants of its request, pursuant to the Notice of Borrowing or at any time before the date that is six months after the Funding Date, for the Loan in respect of the Designated Aircraft to bear interest at a fixed rate (a “Fixed Rate Notice”), which Fixed Rate (as [**] — Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. defined below) shall be fixed two Business Days prior to its effective date (the “Hedge Effective Date”). Upon delivery by the Borrower of a Fixed Rate Notice to the Loan Participants, the following procedures shall apply to determine the “Fixed Rate”:
Sample 1
Fixed Rate Setting. The Borrower may notify the Loan Participants of its request, pursuant to the Notice of Borrowing in respect of any Designated Aircraft, for a particular Class of Loans in respect of such Designated Aircraft to bear interest at a Fixed Rate, which Fixed Rate shall be fixed two Business Days prior to the Funding Date for such Aircraft (the “Swap Effective Date”). Upon delivery by the Borrower of the Notice of Borrowing relating to any Fixed Rate Loans of a particular Series and Class to the relevant Agent and Loan Participants, the following procedures shall apply to determine the “Fixed Rate” for such Loans of such Series and Class:
Sample 1
Fixed Rate Setting. The Owner (acting at the direction of the Lessee) may notify the Junior Purchasers of its request, pursuant to the Notice of Issuance, for the Junior Notes to bear interest at a Fixed Rate, which Fixed Rate shall be fixed two Business Days prior to the Issuance Date (the “Swap Effective Date”). Upon delivery by the Owner of the Notice of Issuance relating to any Fixed Rate Notes to the Junior Agent and Junior Purchasers, the following procedures shall apply to determine the “Fixed Rate” for the Junior Notes:
Sample 1
AutoNDA by SimpleDocs
Fixed Rate Setting. The Borrower may notify the Loan Participants of its request, pursuant to the Notice of Borrowing or at any time before the date that is six months after the Funding Date, for the Loan in respect of the Designated Aircraft to bear interest at a fixed rate (a “Fixed Rate Notice”), which Fixed Rate (as defined below) shall be fixed two Business Days prior to its effective date (the “Hedge Effective Date”). Upon delivery by the Borrower of a Fixed Rate Notice to the Loan Participants, the following procedures shall apply to determine the “Fixed Rate”:
Sample 1

Related to Fixed Rate Setting

  • Floating Rate/Fixed Rate Notes If this Note is specified on the face hereof as a “Floating Rate/Fixed Rate Note”, this Note will bear interest at the rate determined by reference to the applicable Interest Rate Basis or Interest Rate Bases: (1) plus or minus the applicable Spread, if any; and/or (2) multiplied by the applicable Spread Multiplier, if any. Commencing on the first Interest Reset Date, the rate at which this Floating Rate/Fixed Rate Note is payable will be reset as of each Interest Reset Date; provided, however, that: (A) the interest rate in effect for the period, if any, from the Original Issue Date to the first Interest Reset Date will be the Initial Interest Rate specified on the face hereof; and (B) the interest rate in effect commencing on the Fixed Rate Commencement Date will be the Fixed Interest Rate, if specified on the face hereof, or, if not so specified, the interest rate in effect on the day immediately preceding the Fixed Rate Commencement Date.

  • Fixed Rate The Borrower may elect to have all or portions of the principal balance of the line of credit bear interest at the Fixed Rate, subject to the following requirements:

  • Notice of Interest Period and Interest Rate Promptly after receipt of a Notice of Borrowing pursuant to Section 2.02(a), a notice of Conversion pursuant to Section 2.09 or a notice of selection of an Interest Period pursuant to the definition of “Interest Period”, the Administrative Agent shall give notice to the Borrower and each Lender of the applicable Interest Period and the applicable interest rate determined by the Administrative Agent for purposes of clause (a)(i) or (a)(ii) above.

  • Alternate Rate of Interest If prior to the commencement of any Interest Period for a Eurodollar Borrowing:

  • Application Among Interest Rate Options All prepayments required pursuant to this Section 5.05 shall first be applied among the Interest Rate Options to the principal amount of the Loans subject to a Base Rate Option, then to Loans subject to Euro-Rate Option. In accordance with Section 5.06(b), the Borrower shall indemnify the Banks for any loss or expense including loss of margin incurred with respect to any such prepayments applied against Loans subject to a Euro-Rate Option on any day other than the last day of the applicable Euro-Rate Interest Period.

  • Selection of Interest Rate Options At any time any portion of this Note bears interest determined in relation to LIBOR, it may be continued by Borrower at the end of the Fixed Rate Term applicable thereto so that all or a portion thereof bears interest determined in relation to the Prime Rate or to LIBOR for a new Fixed Rate Term designated by Borrower. At any time any portion of this Note bears interest determined in relation to the Prime Rate, Borrower may convert all or a portion thereof so that it bears interest determined in relation to LIBOR for a Fixed Rate Term designated by Borrower. At such time as Borrower requests an advance hereunder or wishes to select a LIBOR option for all or a portion of the outstanding principal balance hereof, and at the end of each Fixed Rate Term, Borrower shall give Bank notice specifying: (i) the interest rate option selected by Borrower; (ii) the principal amount subject thereto; and (iii) for each LIBOR selection, the length of the applicable Fixed Rate Term. Any such notice may be given by telephone (or such other electronic method as Bank may permit) so long as, with respect to each LIBOR selection, (A) if requested by Bank, Borrower provides to Bank written confirmation thereof not later than three (3) Business Days after such notice is given, and (B) such notice is given to Bank prior to 10:00 a.m. on the first day of the Fixed Rate Term, or at a later time during any Business Day if Bank, at it’s sole option but without obligation to do so, accepts Borrower’s notice and quotes a fixed rate to Borrower. If Borrower does not immediately accept a fixed rate when quoted by Bank, the quoted rate shall expire and any subsequent LIBOR request from Borrower shall be subject to a redetermination by Bank of the applicable fixed rate. If no specific designation of interest is made at the time any advance is requested hereunder or at the end of any Fixed Rate Term, Borrower shall be deemed to have made a Prime Rate interest selection for such advance or the principal amount to which such Fixed Rate Term applied.

  • Notification of Interest Periods and rates of normal interest The Agent shall notify the Borrower and each Lender of:

  • Alternative Rate of Interest Notwithstanding anything to the contrary in Section 3.03(a) above, if the Administrative Agent has made the determination (such determination to be conclusive absent manifest error) that (i) the circumstances described in Section 3.03(a)(i) or (a)(ii) have arisen and that such circumstances are unlikely to be temporary, (ii) any applicable interest rate specified herein is no longer a widely recognized benchmark rate for newly originated loans in the syndicated loan market in the applicable currency or (iii) the applicable supervisor or administrator (if any) of any applicable interest rate specified herein or any Governmental Authority having, or purporting to have, jurisdiction over the Administrative Agent has made a public statement identifying a specific date after which any applicable interest rate specified herein shall no longer be used for determining interest rates for loans in the syndicated loan market in the applicable currency, then the Administrative Agent may, to the extent practicable (in consultation with the Borrower and as determined by the Administrative Agent to be generally in accordance with similar situations in other transactions in which it is serving as administrative agent or otherwise consistent with market practice generally), establish a replacement interest rate (the “Replacement Rate”), in which case, the Replacement Rate shall, subject to the next two sentences, replace such applicable interest rate for all purposes under the Loan Documents unless and until (A) an event described in Section 3.03(a)(i), (a)(ii), (b)(i), (b)(ii) or (c)(iii) occurs with respect to the Replacement Rate or (B) the Required Lenders (directly, or through the Administrative Agent) notify the Borrower that the Replacement Rate does not adequately and fairly reflect the cost to the Lenders of funding the Loans bearing interest at the Replacement Rate; provided that if such determined rate shall be less than zero, such rate shall be deemed to be zero for each Loan bearing interest at the Replacement Rate that has not been identified by the Borrower in accordance with the terms of this Agreement as being subject to a Specified Swap Contract that provides a hedge against interest rate risk. In connection with the establishment and application of the Replacement Rate, this Agreement and the other Loan Documents shall be amended solely with the consent of the Administrative Agent and the Borrower, as may be necessary or appropriate, in the opinion of the Administrative Agent, to effect the provisions of this Section 3.03

  • Choice of Interest Rate, Etc The Advances hereunder shall, at the option of the Borrower, be made as one or more Base Rate Advances or LIBOR Advances; provided, however, that at such time as there shall have occurred and be continuing a Default hereunder, the Borrower shall not have the right to Continue a LIBOR Advance or to Convert a Base Rate Advance to a LIBOR Advance. Any notice given to the Administrative Agent in connection with a requested Advance or Conversion hereunder shall be given to the Administrative Agent prior to 11:00 a.m. (New York, New York time) in order for such Business Day to count toward the minimum number of Business Days required.

  • Fixed Rate Loans Each Mortgage Loan bears interest at a rate that remains fixed throughout the remaining term of such Mortgage Loan, except in the case of an ARD Loan after its Anticipated Repayment Date and except for the imposition of a default rate.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!