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 any LIBOR Portion be created or that any part of the applicable Base 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). If any request is made to convert a LIBOR Portion into the relevant Base Rate Portion 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 LIBOR 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)
Manner of Rate Selection. The Company Borrower shall notify the Lender Bank by 11:00 a.m. (Chicago Cleveland time) at least three 3 Business Days prior to the date upon which the Company Borrower requests that any LIBOR Portion be created or that any part of the applicable Base 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). If any request is made to convert a LIBOR Portion of the Note into the relevant a Base Rate Portion hereunderPortion, 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 LIBOR 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 2 contracts
Samples: Credit Agreement (Cleveland Cliffs Inc), Credit Agreement (Cleveland Cliffs Inc)
Manner of Rate Selection. The Company Borrower shall notify the Lender Bank by 11:00 a.m. (Chicago time) at least three 3 Business Days prior to the date upon which the Company Borrower requests that any LIBOR Portion be created or that any part of the applicable Base 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). If any request is made to convert a LIBOR Portion into the relevant Base Rate 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 LIBOR 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 2 contracts
Samples: Credit Agreement (Diamond Management & Technology Consultants, Inc.), Credit Agreement (Diamond Management & Technology Consultants, Inc.)
Manner of Rate Selection. The Company shall notify the Lender Bank by 11:00 a.m. (Chicago Los Angeles time) at least three (3) Business Days prior to the date upon which the Company requests that any LIBOR Portion be created or that any part of the applicable Base Domestic 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). If any request is made to convert a LIBOR Fixed Rate Portion into the relevant Base Rate 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 LIBOR 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 in good faith believes to be an Authorized Representative without the necessity of independent investigation, the Company hereby indemnifying the Lender Bank from any liability or loss ensuing from so acting.,
Appears in 2 contracts
Samples: Newport Corp, Newport Corp
Manner of Rate Selection. The Company shall notify the Lender Bank by 11:00 a.m. (Chicago Los Angeles time) at least three (3) Business Days prior to the date upon which the Company requests that any LIBOR Portion be created or that any part of the applicable Base Domestic 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). If any request is made to convert a LIBOR Fixed Rate Portion into the relevant Base Rate 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 LIBOR 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 in good faith believes to be an Authorized Representative without the necessity of independent investigation, the Company hereby indemnifying the Lender Bank from any liability or loss ensuing from so acting.
Appears in 2 contracts
Samples: Credit Agreement (Newport Corp), Credit Agreement (Newport Corp)
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 any LIBOR Portion be created or that any part of the applicable Base Domestic 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). If any request is made to convert a LIBOR Portion into the relevant Base Domestic Rate Portion 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 LIBOR 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 1 contract
Samples: Credit Agreement (Maf Bancorp Inc)