Common use of Information Concerning Rates Clause in Contracts

Information Concerning Rates. If there is any change in the credit rating of Tortoise Notes by a rating agency (or substitute or successor rating agencies) then rating the Tortoise Notes that results in any change in the applicable percentage of the "AA" Composite Commercial Paper Rate used to determine the Maximum Rate for Tortoise Notes (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 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 Tortoise Notes of which it has most recently received notice from the Company.

Appears in 3 contracts

Samples: Auction Agency Agreement (Tortoise North American Energy Corp), Auction Agency Agreement (Tortoise Energy Capital 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 Tortoise Notes by a rating agency Rating Agency (or substitute or successor rating agenciesRating Agencies) then rating the Tortoise Notes that results in any change in the applicable percentage of the "AA" Composite Commercial Paper Rate used to determine the Maximum Rate for Tortoise Notes (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 such 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 Tortoise Notes of which it has most recently received notice from the Company.

Appears in 2 contracts

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

Information Concerning Rates. If there is any change in the credit rating of Tortoise Notes by a rating agency Rating Agency (or substitute or successor rating agenciesRating Agencies) then rating the Tortoise Notes that results in any change in the applicable percentage of the "AA" Composite Commercial Paper Rate used to determine the Maximum Rate for Tortoise Notes (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 such 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 Tortoise Notes 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 Tortoise Notes by a rating agency (or substitute or successor rating agencies) then rating the Tortoise Notes that results in any change in the applicable percentage of the "AA" Composite Commercial Paper Rate used to determine the Maximum Rate for Tortoise Notes (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 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 Tortoise Notes 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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Information Concerning Rates. If there is any change in the credit rating of Tortoise Notes by a rating agency (or substitute or successor rating agencies) then rating the Tortoise Notes that results in any change in the applicable percentage of the "AA" Composite Commercial Paper Rate used to determine the Maximum Rate for Tortoise Notes (the "Rate Multiple"), the Company shall notify the Auction Agent of such change in the Rate Multiple by no later than prior to the Business Day immediately preceding 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 Tortoise Notes 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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