Common use of Information Concerning Rates Clause in Contracts

Information Concerning Rates. If there is any change in the credit rating of MMP Shares by a Rating Agency (or substitute or successor Rating Agencies) then rating the MMP Shares that results in any change in the applicable percentage of the Reference Rate used to determine the Maximum Rate for MMP Shares (the "Rate Multiple"), the Company shall notify the Auction Agent of such change in the Rate Multiple by no later than the Business Day immediately preceding the next Auction Date. In determining the Maximum Rate on any Auction Date, the Auction Agent shall be entitled to rely on the last Rate Multiple for MMP Shares of which it has most recently received notice from the Company.

Appears in 4 contracts

Samples: Auction Agency Agreement (Tortoise Energy Capital Corp), Auction Agency Agreement (Tortoise North American Energy Corp), Auction Agency Agreement (Tortoise Energy Capital Corp)

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Information Concerning Rates. If there is any change in the credit rating of MMP Shares by a Rating Agency (or substitute or successor Rating Agencies) then rating the MMP Shares that results in any change in the applicable percentage of the Reference Rate used to determine the Maximum Rate for MMP Shares (the "Rate Multiple"), the Company shall notify the Auction Agent of such change in the Rate Multiple by no later than the Business Day immediately preceding the next Auction Date. In determining the Maximum Rate on any Auction Date, the Auction Agent shall be entitled to rely on the last Rate Multiple for MMP Shares of which it has most recently received notice from the Company.

Appears in 2 contracts

Samples: Auction Agency Agreement (Tortoise Energy Infrastructure Corp), Auction Agency Agreement (Tortoise Energy Infrastructure Corp)

Information Concerning Rates. If there is any change in the credit rating of MMP Shares by a Rating Agency rating agency (or substitute or successor Rating Agenciesrating agencies) then rating the MMP Shares that results in any change in the applicable percentage of the Reference Rate used to determine the Maximum Rate for MMP Shares (the "Rate Multiple"), the Company shall notify the Auction Agent of such change in the Rate Multiple by no later than the Business Day immediately preceding the next such Auction Date. In determining the Maximum Rate on any Auction Date, the Auction Agent shall be entitled to rely on the last Rate Multiple for MMP Shares of which it has most recently received notice from the Company.

Appears in 2 contracts

Samples: Auction Agency Agreement (Tortoise Energy Infrastructure Corp), Auction Agency Agreement (Tortoise Energy Infrastructure Corp)

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Information Concerning Rates. If there is any change in the credit rating of MMP Shares by a Rating Agency rating agency (or substitute or successor Rating Agenciesrating agencies) then rating the MMP Shares that results in any change in the applicable percentage of the Reference Rate used to determine the Maximum Rate for MMP Shares (the "Rate Multiple"), the Company shall notify the Auction Agent of such change in the Rate Multiple by no later than the Business Day immediately preceding the next such Auction Date. In determining the Maximum Rate on any Auction Date, the Auction Agent shall be entitled to rely on the last Rate Multiple for MMP Shares of which it has most recently received notice from the Company.

Appears in 1 contract

Samples: Auction Agency Agreement (Tortoise Energy Infrastructure Corp)

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