Notice of Election to Adjust Interest Rate. (a) The Borrower may elect that interest on a Fixed Rate Balance shall continue to accrue at a newly quoted and offered Fixed Rate or commence to accrue at the Variable Rate by telephonic notice to the Bank, provided that such notice shall be received at or before 11:00 am (California time) on a Business Day which is two Business Days prior to the last day of the relevant Interest Period.
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Samples: Agricultural Credit Agreement (Scheid Vineyards Inc), Term Loan Agreement (Scheid Vineyards Inc), Agricultural Credit Agreement (Scheid Vineyards Inc)
Notice of Election to Adjust Interest Rate. (a) The Borrower may elect that interest on a Fixed Rate Balance shall continue to accrue at a newly quoted and offered the Fixed Rate or commence to accrue at the Variable Rate by telephonic notice to the Bank, provided that such notice shall be received at or before 11:00 am 2:00 p.m. (California time) on a Business Day which is two Business Days prior to the last day of the relevant Interest Period.
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