Common use of Manner of Rate Selection Clause in Contracts

Manner of Rate Selection. The Borrower shall notify the Bank by 11:00 a.m. (Chicago time) at least 3 Business Days prior to the date upon which the Borrower requests that any LIBOR Portion be created or that any part of the Base Rate Portion be converted into a LIBOR Portion. If any request is made to convert a LIBOR Portion into the 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 Portions under this 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 an Authorized Representative without the necessity of independent investigation, the Borrower hereby indemnifying the Bank from any liability or loss ensuing from so acting.

Manner of Rate Selection. The Borrower Company shall notify the Bank by 11:00 a.m. (Chicago time) at least 3 three (3) Business Days prior to the date upon which the Borrower Company requests that any LIBOR Portion be created or that any part of the Base Domestic Rate Portion be converted into a LIBOR Portion. If any request is made to convert a LIBOR Portion into the 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 Portions under this Agreement shall be irrevocable. Such requests may be written or oral and the Bank is hereby authorized to honor telephonic requests for creations, continuances, continuances and conversions received by it from any person the Bank in good faith reasonably believes to be an Authorized Representative without the necessity need of independent investigation, the Borrower Company hereby indemnifying the Bank from any liability or loss ensuing from so acting.

Manner of Rate Selection. The Borrower Company shall notify the Bank by 11:00 a.m. (Chicago time) at least 3 Business Days prior to the date upon which the Borrower Company requests that any LIBOR Portion be created or that any part of the Base Domestic Rate Portion be converted into a LIBOR Portion. If any request is made to convert a LIBOR Portion into the Base a Domestic 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 Portions under this Agreement shall be irrevocable. Such requests may be written or oral and the Bank is hereby authorized to honor telephonic requests for creations, continuances, continuances and conversions received by it from any person the Bank in good faith believes to be an Authorized Representative without the necessity need of independent investigation, the Borrower Company hereby indemnifying the Bank from any liability or loss ensuing from so acting.