Common use of Manner of Rate Selection Clause in Contracts

Manner of Rate Selection. The Company shall notify the Lender by 11:00 a.m. (Chicago time) at least three Business Days prior to the date upon which the Company requests that (i) any LIBOR Portion be created or that any part of the applicable Domestic Rate Portion be converted into a LIBOR Portion and (ii) any Treasury Rate Portion be created or that any part of the Domestic Rate Portion or any part of a LIBOR Portion applicable to the Term Note be converted into a Treasury Rate Portion (each such notice to specify in each instance the amount thereof and the Interest Period selected therefor). If any request is made to convert a LIBOR Portion into another type of Portion available hereunder, such conversion shall only be made so as to become effective as of the last day of the Interest Period applicable thereto. All requests for the creation, continuance and conversion of Portions under this Agreement shall be irrevocable. Such requests may be written or oral and the Lender is hereby authorized to honor telephonic requests for creations, continuances and conversions received by it from any person the Lender in good faith believes to be an Authorized Representative without the necessity of independent investigation, the Company hereby indemnifying the Lender from any liability or loss ensuing from so acting.

Appears in 3 contracts

Samples: Credit Agreement (Maf Bancorp Inc), Credit Agreement (Maf Bancorp Inc), Credit Agreement (Maf Bancorp Inc)

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Manner of Rate Selection. The Company shall notify the Lender Agent by 11:00 a.m. 1:00 p.m. (Chicago time) at least three (3) Business Days prior to the date upon which designated by the Company requests as the effective date that (i) any LIBOR Portion be created or that any part of the applicable Domestic Rate Portion be converted into a LIBOR Portion and (ii) any Treasury Rate Portion be created or that any part of the Domestic Rate Portion or any part of a LIBOR Portion applicable to the Term Note be converted into a Treasury Rate Portion (each Portion. Each such notice to shall specify in each instance the amount thereof of the LIBOR Portion to be created or effected by conversion, as the case may be, and the Interest Period selected therefor), and the Agent shall promptly notify each Lender of each notice received from the Company pursuant to the foregoing provision. If any request is made to convert a LIBOR Portion into another type of Portion available hereunderthe relevant Domestic Rate Portion, such conversion shall only be made so as to become effective as of the last day of the Interest Period applicable thereto. All requests for the creation, continuance and conversion of Portions under this Agreement shall be irrevocable. Such requests may be written or oral and the Lender Agent is hereby authorized to honor telephonic requests for creations, continuances and conversions received by it from any person the Lender Agent in good faith believes to be an Authorized Representative without the necessity of independent investigation, the Company hereby indemnifying the Lender Agent and the Lenders from any liability or loss ensuing from so acting.

Appears in 2 contracts

Samples: Credit Agreement (Apac Teleservices Inc), 6 Credit Agreement (Apac Teleservices Inc)

Manner of Rate Selection. The Company Borrower shall notify the Lender Agent (i) by 11:00 a.m. (Chicago time) at least three (3) Business Days prior to the date upon which the Company Borrower requests that (i) any LIBOR Portion be created or that any part of the applicable Domestic Rate Portion or Offered Rate Portion be converted into a LIBOR Portion and (ii) by 9:00 a.m. (Chicago time) at least one (1) Business Day prior to the date upon which the Borrower requests that any Treasury Offered Rate Portion be created or that any part of the applicable Domestic Rate Portion or any part of a LIBOR Portion applicable to the Term Note or Offered Rate Portion be converted into a Treasury an Offered Rate Portion (each such notice to specify in each instance the amount thereof and the Interest Period selected therefor), and the Agent shall promptly notify each Lender of each notice received from the Borrower pursuant to the foregoing provision. If any request is made to convert a LIBOR Fixed Rate Portion into another type of Portion available hereunder, such conversion shall only be made so as to become effective as of the last day of the Interest Period applicable thereto. All requests for the creation, continuance and conversion of Portions under this Agreement shall be irrevocable. Such requests may be written or oral and the Lender Agent is hereby authorized to honor telephonic requests for creations, continuances and conversions received by it from any person the Lender Agent in good faith believes to be an Authorized Representative without the necessity of independent investigation, the Company Borrower hereby indemnifying the Lender Agent and the Lenders from any liability or loss ensuing from so acting.

Appears in 2 contracts

Samples: Hewitt Associates Inc, Hewitt Associates Inc

Manner of Rate Selection. The Company Borrower shall notify the Lender Bank by 11:00 a.m. (Chicago time) c) at least three 3 Business Days prior to the date upon which the Company Borrower requests that (i) any LIBOR Portion be created or that any part of the applicable Domestic Base Rate Portion be converted into a LIBOR Portion and (ii) any Treasury Rate Portion be created or that any part of the Domestic Rate Portion or any part of a LIBOR Portion applicable to the Term Note be converted into a Treasury Rate Portion (each such notice to specify in each instance the amount thereof and the Interest Period selected therefor), and d) at least 1 Business Day prior to the date upon which the Borrower requests that any part of a LIBOR Portion be converted into a Base Rate Portion. If any request is made to convert a LIBOR Portion of a Note into another type of Portion available hereunder, such conversion shall only be made so as to become effective as of the last day of the Interest Period applicable thereto. All requests for the creation, continuance continuance, and conversion of Portions under this Agreement shall be irrevocable. Such requests may be written or oral and the Lender Bank is hereby authorized to honor telephonic requests for creations, continuances continuances, and conversions received by it from any person the Lender Bank in good faith believes to be an Authorized Representative without the necessity of independent investigation, the Company Borrower hereby indemnifying the Lender Bank from any liability or loss ensuing from so acting.

Appears in 1 contract

Samples: Credit Agreement (Cti Industries Corp)

Manner of Rate Selection. The Company (which is acting on behalf of the Borrowers pursuant to Section 1.7 hereof) shall notify the Lender Administrative Agent by 11:00 a.m. (Chicago time) at least three (3) Business Days prior to the date upon which the Company requests that (i) any LIBOR Portion be created or that any part of the applicable Domestic Rate Portion be converted into a LIBOR Portion and (ii) any Treasury Rate Portion be created or that any part of the Domestic Rate Portion or any part of a LIBOR Portion applicable to the Term Note be converted into a Treasury Rate Portion (each such notice to specify in each instance the amount thereof and the Interest Period selected therefor). The Administrative Agent shall promptly notify each Lender of each notice received from the Company pursuant to the foregoing provision. If any request is made to convert a LIBOR Portion into another type of Portion available hereunderthe Domestic Rate Portion, such conversion shall only be made so as to become effective as of the last day of the Interest Period applicable thereto. All requests for the creation, continuance and conversion of Portions under this Agreement shall be irrevocable. Such requests may be written or oral and the Lender Administrative Agent is hereby authorized to honor telephonic requests for creations, continuances and conversions received by it from any person the Lender Administrative Agent in good faith believes to be an Authorized Representative without the necessity of independent investigation, the Company Borrowers hereby indemnifying the Lender Administrative Agent and the Lenders from any liability or loss ensuing from so acting.

Appears in 1 contract

Samples: Credit Agreement (Platinum Entertainment Inc)

Manner of Rate Selection. The Company shall notify the Lender Administrative Agent by 11:00 a.m. (Chicago time) at least three (3) Business Days prior to the date upon which the Company requests that (i) any LIBOR Portion be created or that any part of the applicable Domestic Rate Portion be converted into a LIBOR Portion and (ii) any Treasury Rate Portion be created or that any part of the Domestic Rate Portion or any part of a LIBOR Portion applicable to the Term Note be converted into a Treasury Rate Portion (each such notice to specify in each instance the amount thereof and the Interest Period selected therefor). The Administrative Agent shall promptly notify each Lender of each notice received from the Company pursuant to the foregoing provision; provided, however, that in the case of the creation or continuation of or conversion into any LIBOR Portion, the Administrative Agent shall so notify the Lenders in no event any later than 11:00 a.m. (Chicago time) at least two (2) Business Days prior to the date of such requested creation, continuation or conversion. If any request is made to convert a LIBOR Portion into another type of Portion available hereunderthe applicable Domestic Rate Portion, such conversion shall only be made so as to become effective as of the last day of the Interest Period applicable thereto. All requests for the creation, continuance and conversion of Portions under this Agreement shall be irrevocable. Such requests may be written or oral and the Lender 11 Administrative Agent is hereby authorized to honor telephonic requests for creations, continuances and conversions received by it from any person the Lender Administrative Agent in good faith believes to be an Authorized Representative without the necessity of independent investigation, the Company hereby indemnifying the Lender Administrative Agent and the Lenders from any liability or loss ensuing from so acting.

Appears in 1 contract

Samples: Credit Agreement (WLR Foods Inc)

Manner of Rate Selection. The Company shall notify the Lender Bank by 11:00 a.m. (Chicago time) time at least three Business Days prior to the date upon which the Company it requests that (i) any LIBOR Portion be created or that any part of the applicable a Domestic Rate Portion or an Offered Rate Portion be converted into a LIBOR Portion Portion, and by 11:00 a.m. (iiChicago time) at least one Business Day prior to the Date upon which it requests that any Treasury Offered Rate Portion be created or that any part of the a Domestic Rate Portion or any part of a LIBOR Portion applicable to the Term Note be converted into a Treasury an Offered Rate Portion (each such notice to specify in each instance the amount thereof and the Interest Period selected therefor). If any request is made to convert a LIBOR Fixed Rate Portion into another type of Portion available hereundera Domestic Rate Portion, such conversion shall only be made so as to become effective as of the last day of the Interest Period applicable thereto. All requests for the creation, continuance and or conversion of Portions under this Agreement shall be irrevocable. Such requests may be written or oral and the Lender Bank is hereby authorized to honor telephonic requests for creations, continuances and conversions received by it from any person identifying themselves as a person who the Lender in good faith believes Bank's records reflect is authorized to be an Authorized Representative without act on behalf of the necessity of independent investigationCompany hereunder, the Company hereby indemnifying the Lender Bank from any liability or loss ensuing from so acting.

Appears in 1 contract

Samples: Credit Agreement (Northland Cranberries Inc /Wi/)

Manner of Rate Selection. The Company Any Borrower shall notify the Lender Agent by 11:00 a.m. (Chicago time) at least three 3 Business Days prior to the date upon which the Company such Borrower requests that (i) any LIBOR Portion be created or that any part of the applicable Domestic Rate Portion be converted into a LIBOR Portion and (ii) any Treasury Rate Portion be created or that any part of the Domestic Rate Portion or any part of a LIBOR Portion applicable to the Term Note be converted into a Treasury Rate LIBOR Portion (each such notice to specify in each instance the amount thereof and the Interest Period selected therefor), and the Agent shall promptly notify each Lender of each notice received from such Borrower pursuant to the foregoing provision. If any request is made to convert a LIBOR Portion into another the other type of Portion available hereunder, such conversion shall only be made so as to become effective as of the last day of the Interest Period applicable thereto. All requests for the creation, continuance and conversion of Portions under this Agreement shall be irrevocable. Such requests may be written or oral and the Lender Agent is hereby authorized to honor telephonic requests for creations, continuances and conversions received by it from any person the Lender Agent in good faith believes to be an Authorized Representative without the necessity of independent investigation, the Company Borrowers hereby jointly and severally indemnifying the Lender Agent and the Lenders from any liability or loss ensuing from so acting.

Appears in 1 contract

Samples: Credit Agreement (Hub Group Inc)

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Manner of Rate Selection. The Company Borrower shall notify the Lender Bank by 11:00 a.m. (Chicago time) (i) at least three 3 Business Days prior to the date upon which the Company Borrower requests that (i) any LIBOR Portion be created or that any part of the applicable Domestic Base Rate Portion or any Offered Rate Portion be converted into a LIBOR Portion Portion, and (ii) at least 1 Business Day prior to the date upon which the Borrower requests that any Treasury Offered Rate Portion be created or that any part of the Domestic Base Rate Portion or any part of a LIBOR Portion applicable to the Term Note be converted into a Treasury an Offered Rate Portion (each such notice to specify in each instance the amount thereof and the Interest Period selected therefor). If any request is made to convert a LIBOR Fixed Rate Portion into another type of Portion available hereunder, such conversion shall only be made so as to become effective as of the last day of the Interest Period applicable thereto. All requests for the creation, continuance continuance, and conversion of Portions under this Agreement shall be irrevocable. Such requests may be written or oral and the Lender Bank is hereby authorized to honor telephonic requests for creations, continuances continuances, and conversions received by it from any person the Lender Bank in good faith believes to be an Authorized Representative without the necessity of independent investigation, the Company Borrower hereby indemnifying indemnifies the Lender from Bank for any liability or loss ensuing from so actingacting except for any such liability or loss resulting predominantly from the Bank's or its employee's or agent's gross negligence or willful misconduct.

Appears in 1 contract

Samples: Credit Agreement (Primus Guaranty LTD)

Manner of Rate Selection. The Company shall notify the Lender Bank by (i) 11:00 a.m. (Chicago time) at least three (3) Business Days prior to the date upon which the Company requests that (i) any LIBOR Portion be created or that any part of the applicable Domestic Rate Portion or any part of an Offered Rate Portion be converted into a LIBOR Portion (each such notice to specify in each instance the amount thereof and the Interest Period selected therefor) and (ii) 11:00 a.m. (Chicago time) at least one (1) Business Day prior to the date upon which the Company requests that any Treasury Offered Rate Portion be created or that any part of the Domestic Rate Portion or any part of a LIBOR Portion applicable to the Term Note be converted into a Treasury an Offered Rate Portion (each such notice to specify in each instance the amount thereof and the Interest Period selected therefor). If any request is made to convert a LIBOR Fixed Rate Portion into another type of Portion available hereunderthe Domestic Rate Portion, such conversion shall only be made so as to become effective as of the last day of the Interest Period applicable thereto. All requests for the creation, continuance and conversion of Portions under this Agreement shall be irrevocable. Such requests may be written or oral and the Lender Bank is hereby authorized to honor telephonic requests for creations, continuances and conversions received by it from any person the Lender Bank reasonably and in good faith believes to be an a Class A Authorized Representative without the necessity need of independent investigation, the Company hereby indemnifying the Lender Bank from any liability or loss ensuing from so acting.

Appears in 1 contract

Samples: Guaranty Agreement (Oil Dri Corporation of America)

Manner of Rate Selection. The Company shall notify the Lender Bank by (i) 11:00 a.m. (Chicago time) at least three (3) Business Days prior to the date upon which the Company requests that (i) any LIBOR Portion be created or that any part of the applicable Domestic Base Rate Portion or any part of an Offered Rate Portion be converted into a LIBOR Portion (each such notice to specify in each instance the amount thereof and the Interest Period selected therefor) and (ii) 11:00 a.m. (Chicago time) at least one (1) Business Day prior to the date upon which the Company requests that any Treasury Offered Rate Portion be created or that any part of the Domestic Base Rate Portion or any part of a LIBOR Portion applicable to the Term Note be converted into a Treasury an Offered Rate Portion (each such notice to specify in each instance the amount thereof and the Interest Period selected therefor). If any request is made to convert a LIBOR Fixed Rate Portion into another type of Portion available hereunderthe Base Rate Portion, such conversion shall only be made so as to become effective as of the last day of the Interest Period applicable thereto. All requests for the creation, continuance and conversion of Portions under this Agreement shall be irrevocable. Such requests may be written or oral and the Lender Bank is hereby authorized to honor telephonic requests for creations, continuances and conversions received by it from any person the Lender Bank reasonably and in good faith believes to be an a Class A Authorized Representative without the necessity need of independent investigation, the Company hereby indemnifying the Lender Bank from any liability or loss ensuing from so acting.

Appears in 1 contract

Samples: Guaranty Agreement (Oil Dri Corporation of America)

Manner of Rate Selection. The Company Borrower shall notify the Lender Bank by 11:00 a.m. (Chicago time) (i) at least three 3 Business Days prior to the date upon which the Company Borrower requests that (i) any LIBOR Portion be created or that any part of the applicable Domestic Base Rate Portion or any part of an Offered Rate Portion be converted into a LIBOR Portion Portion, and (ii) at least 1 Business Day prior to the date upon which the Borrower requests that any Treasury Offered Rate Portion be created or that any part of the Domestic Base Rate Portion or any part of a LIBOR Portion applicable to the Term Note be converted into a Treasury an Offered Rate Portion (each such notice to specify in each instance the amount thereof and the Interest Period selected therefor). If any request is made to convert a LIBOR Fixed Rate Portion into another type of Portion available hereunder, such conversion shall only be made so as to become effective as of the last day of the Interest Period applicable thereto. All requests for the creation, continuance continuance, and conversion of Portions under this Agreement shall be irrevocable. Such requests may be written or oral and the Lender Bank is hereby authorized to honor telephonic requests for creations, continuances continuances, and conversions received by it from any person the Lender Bank in good faith believes to be an Authorized Representative without the necessity of independent investigation, the Company Borrower hereby indemnifying the Lender Bank from any liability or loss ensuing from so acting.

Appears in 1 contract

Samples: Credit Agreement (Woodhead Industries Inc)

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