Manner of Rate Selection. FFS acting on behalf of the Borrower shall notify the Bank (i) by 10:00 a.m. (Chicago time) at least three (3) Business Days prior to the date upon which it requests that any LIBOR Portion be created or that any part of the Domestic Rate Portion be converted into a LIBOR Portion, and (ii) by 10:00 a.m. (Chicago time) on the date upon which it requests that any Domestic Rate Portion be created or that any part of a LIBOR Portion be converted into a Domestic Rate Portion (each such notice to specify in each instance the amount thereof and the Interest Period selected therefor). If FFS fails to notify the Bank on or before 10:00 a.m. (Chicago time) on the third Business Day preceding the end of an interest Period applicable to a LIBOR Portion whether such LIBOR Portion is to continue as a LIBOR Portion and the new Interest Period selected therefor, such LIBOR Portion shall automatically be converted into and added to the Domestic Rate Portion as of and on the last day of such Interest Period. 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 or conversion of Portions under this Note shall be irrevocable. Such requests may be written or oral and the Bank is hereby authorized to honor telephonic requests for creations, continuances and conversions received by it from any person the Bank in good faith believes to be a person authorized to act on behalf of the Borrower hereunder, the Borrower hereby indemnifying the Bank from any liability or loss ensuing from so acting.
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Samples: Promissory Note (Famco Ii Liability Co & Family Financial Strategies Inc)
Manner of Rate Selection. FFS acting on behalf of the Borrower shall notify the Bank (iI) by 10:00 a.m. (Chicago time) at least three (3) Business Days prior to the date upon which it requests that any LIBOR Portion be created or that any part of the Domestic Rate Portion be converted into a LIBOR Portion, and (iiit) by 10:00 a.m. (Chicago time) on the date upon which it requests that any Domestic Rate Portion be created or that any part of a LIBOR Portion be converted into a Domestic Rate Portion (each such notice to specify in each instance the amount thereof and the Interest Period selected therefor). If FFS fails to notify the Bank on or before 10:00 a.m. (Chicago time) on the third Business Day preceding the end of an interest Interest Period applicable to a LIBOR Portion whether such LIBOR Portion is to continue as a LIBOR Portion and the new Interest Period selected therefor, therefore such LIBOR Portion shall automatically be converted into and added to the Domestic Rate Portion as of and on the last day of such Interest Period. 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 or conversion of Portions under this Note shall be irrevocable. Such requests may be written or oral and the Bank is hereby authorized to honor telephonic requests for creations, continuances and conversions received by it from any person the Bank in good faith believes to be a person authorized to act on behalf of the Borrower hereunder, the Borrower hereby indemnifying the Bank from any liability or loss ensuing from so acting.
Appears in 1 contract
Samples: Famco Ii Liability Co & Family Financial Strategies Inc
Manner of Rate Selection. FFS acting on behalf of the Borrower The Company shall notify the Bank (i) Agent by 10:00 11:00 a.m. (Chicago time) at least three (3) 3 Business Days prior to the date upon which it the Company requests that any LIBOR Portion be created or that any part of the Domestic Rate Portion be converted into a LIBOR Portion, and (ii) by 10:00 a.m. (Chicago time) on the date upon which it requests that any Domestic Rate Portion denominated in U.S. Dollars be created or that any part of a LIBOR Portion otherwise denominated or any part of a Domestic Rate Portion be converted into a LIBOR Portion denominated in U.S. Dollars and (iii) by 12:00 Noon (Chicago time) at least 4 Business Days prior to the date upon which the Company requests that any LIBOR Portion denominated in an Alternative Currency be created or that any part of a LIBOR Portion otherwise denominated or any part of a Domestic Rate Portion (each be converted into a LIBOR Portion denominated in an Alternative Currency. Each such notice to shall specify in each instance the amount thereof of the Portion being created or converted and in the case of the creation of or conversion into any LIBOR Portion, the Interest Period selected therefor). If FFS fails to notify therefor and the Bank on or before 10:00 a.m. (Chicago time) on the third Business Day preceding the end of an interest Period applicable to a LIBOR Portion whether currency in which such LIBOR Portion is to continue as a LIBOR Portion and the new Interest Period selected therefor, such LIBOR Portion shall automatically be converted into and added to the Domestic Rate Portion as of and on the last day of such Interest Perioddenominated. 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 or and conversion of Portions under this Note Agreement shall be irrevocable. Such requests may be written or oral and the Bank Agent is hereby authorized to honor telephonic requests for creations, continuances and conversions received by it from any person the Bank Agent in good faith believes to be a person authorized to act on behalf an Authorized Representative without the necessity of the Borrower hereunderindependent investigation, the Borrower Company hereby indemnifying the Bank Agent and the Lenders from any liability or loss ensuing from so acting. The Agent shall give prompt notice to the Lenders of any notice it receives pursuant to this Section and will give prompt notice to each Lender of the Overnight Foreign Currency Rate as soon as it is set. The Agent shall determine the interest rate applicable to each LIBOR Portion and the Original Dollar Amount of such Portions denominated in an Alternative Currency, and a reasonable determination thereof by the Agent shall be conclusive and binding except in the case of manifest error or willful misconduct. The Original Dollar Amount of each LIBOR Portion denominated in an Alternative Currency shall be determined or redetermined, as applicable, effective as of the first day of each Interest Period applicable to such Portion. The Agent shall give notice to the Company and each Lender of the interest rate applicable to each LIBOR Portion and, if such LIBOR Portion is denominated in an Alternative Currency, shall give notice to the Company and each Lender of the Original Dollar Amount thereof.
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Manner of Rate Selection. FFS acting on behalf of the The Borrower shall notify the Bank by (i) by 10:00 11:00 a.m. (Chicago time) at least three (3) 3 Business Days prior to the date upon which it the Borrower requests that any LIBOR Portion be created or that any part of the Domestic Rate Portion or any part of an Offered Rate Portion be converted into a LIBOR Portion, Portion and (ii) by 10:00 11:00 a.m. (Chicago time) on at least 1 Business Day prior to the date upon which it the Borrower requests that any Domestic Offered Rate Portion be created or that any part of the Domestic Rate Portion or any part of a LIBOR Portion be converted into a Domestic an Offered Rate Portion (each such notice to specify in each instance the amount thereof and the Interest Period selected therefor). If FFS fails to notify the Bank on or before 10:00 a.m. (Chicago time) on the third Business Day preceding the end of an interest Period applicable to a LIBOR Portion whether such LIBOR Portion is to continue as a LIBOR Portion and the new Interest Period selected therefor, such LIBOR Portion shall automatically be converted into and added to the Domestic Rate Portion as of and on the last day of such Interest Period. 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 or and conversion of Portions under this Note Agreement shall be irrevocable. Such requests may be written or oral and the Bank is hereby authorized to honor telephonic requests for creations, continuances and conversions received by it from any person the Bank in good faith believes to be a person authorized to act on behalf an Authorized Representative without the need of the Borrower hereunderindependent investigation, the Borrower hereby indemnifying the Bank from any liability or loss ensuing from so acting.
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Manner of Rate Selection. FFS Each Loan shall initially constitute part of the Domestic Rate Portion of the Note except to the extent the Company (which is acting on behalf of the Borrowers pursuant to Section 1.3 hereof) has otherwise timely elected otherwise as hereinafter set forth. In the event the relevant Borrower desires a Eurocurrency Portion be created, continued or converted, the Company (which is acting on behalf of the Borrowers pursuant to Section 1.3 hereof) shall notify the Bank (i) by 10:00 11:00 a.m. (Chicago time) at least three (3) Business Days prior to the date upon which it the relevant Borrower requests that any LIBOR Eurocurrency Portion be created or that any part of the Domestic Rate Portion be converted into a LIBOR Eurocurrency Portion, and (ii) by 10:00 a.m. (Chicago time) on the date upon which it requests that any Domestic Rate Portion be created or that any part of a LIBOR Portion be converted into a Domestic Rate Portion (each . Each such notice to shall specify in each instance the amount thereof of the Portion being created or converted and in the case of the creation of or conversion into any Eurocurrency Portion, the Interest Period selected therefor). If FFS fails to notify therefor and in the Bank on case of the creation of or before 10:00 a.m. (Chicago time) on conversion into any Eurocurrency Portion, the third Business Day preceding the end of an interest Period applicable to a LIBOR Portion whether currency in which such LIBOR Portion is to continue as a LIBOR Portion and the new Interest Period selected therefor, such LIBOR Portion shall automatically be converted into and added to the Domestic Rate Portion as of and on the last day of such Interest Perioddenominated. If any request is made to convert a LIBOR Eurocurrency 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 or and conversion of Portions under this Note Agreement shall be irrevocable. Such requests may be written or oral and the Bank is hereby authorized to honor telephonic requests for creations, continuances and conversions received by it from any person the Bank in good faith believes to be a person authorized to act on behalf an Authorized Representative without the necessity of the Borrower hereunderindependent investigation, the Borrower Borrowers hereby jointly and severally indemnifying the Bank from any liability or loss ensuing from so acting.
Appears in 1 contract
Samples: Guaranty Agreement (Comshare Inc)
Manner of Rate Selection. FFS acting on behalf of the Borrower The Company shall notify the Bank by (i) by 10:00 11:00 a.m. (Chicago time) at least three (3) Business Days prior to the date upon which it the Company requests that any LIBOR Portion be created or that any part of the Domestic Base Rate Portion or any part of an Offered Rate Portion be converted into a LIBOR Portion, Portion (each such notice to specify in each instance the amount thereof and the Interest Period selected therefor) and (ii) by 10:00 11:00 a.m. (Chicago time) on at least one (1) Business Day prior to the date upon which it the Company requests that any Domestic Offered Rate Portion be created or that any part of the Base Rate Portion or any part of a LIBOR Portion be converted into a Domestic an Offered Rate Portion (each such notice to specify in each instance the amount thereof and the Interest Period selected therefor). If FFS fails to notify the Bank on or before 10:00 a.m. (Chicago time) on the third Business Day preceding the end of an interest Period applicable to a LIBOR Portion whether such LIBOR Portion is to continue as a LIBOR Portion and the new Interest Period selected therefor, such LIBOR Portion shall automatically be converted into and added to the Domestic Rate Portion as of and on the last day of such Interest Period. 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 or and conversion of Portions under this Note Agreement shall be irrevocable. Such requests may be written or oral and the Bank is hereby authorized to honor telephonic requests for creations, continuances and conversions received by it from any person the Bank reasonably and in good faith believes to be a person authorized to act on behalf Class Aan Authorized Representative without the need of the Borrower hereunderindependent investigation, the Borrower Company hereby indemnifying the Bank from any liability or loss ensuing from so acting.
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Manner of Rate Selection. FFS acting on behalf of the Borrower The Company shall notify the Bank (i) Agent by 10:00 11:00 a.m. (Chicago time) at least three (3) 3 Business Days prior to the date upon which it the Company requests that any LIBOR Portion be created or that any part of the Domestic Rate Portion be converted into a LIBOR Portion, and (ii) by 10:00 a.m. (Chicago time) on the date upon which it requests that any Domestic Rate Portion denominated in U.S. Dollars be created or that any part of a LIBOR Portion otherwise denominated or any part of a Domestic Rate Portion be converted into a LIBOR Portion denominated in U.S. Dollars and (iii) by 12:00 Noon (Chicago time) at least 4 Business Days prior to the date upon which the Company requests that any LIBOR Portion denominated in an Alternative Currency be created or that any part of a LIBOR Portion otherwise denominated or any part of a Domestic Rate Portion (each be converted into a LIBOR Portion denominated in an Alternative Currency. Each such notice to shall specify in each instance the amount thereof of the Portion being created or converted and in the case of the creation of or conversion into any LIBOR Portion, the Interest Period selected therefor). If FFS fails to notify therefor and the Bank on or before 10:00 a.m. (Chicago time) on the third Business Day preceding the end of an interest Period applicable to a LIBOR Portion whether currency in which such LIBOR Portion is to continue as a LIBOR Portion and the new Interest Period selected therefor, such LIBOR Portion shall automatically be converted into and added to the Domestic Rate Portion as of and on the last day of such Interest Perioddenominated. 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 or and conversion of Portions under this Note Agreement shall be irrevocable. Such requests may be written or oral and the Bank Agent is hereby authorized to honor telephonic requests for creations, continuances and conversions received by it from any person the Bank Agent in good faith believes to be a person authorized to act on behalf of the Borrower hereunder, the Borrower hereby indemnifying the Bank from any liability or loss ensuing from so acting.an Authorized Representative without the
Appears in 1 contract
Samples: Long Term Multicurrency Credit Agreement (Anicom Inc)