Notice of LIBOR Election Sample Clauses

Notice of LIBOR Election. [Date] BNP Paribas Leasing Corporation 10000 Xxxxx Xxxxx, Xxxxx 000 Xxxxxx, Xxxxx 00000 Attention: Lxxxx X. Xxx, Managing Director Gentlemen: Capitalized terms used in this letter are intended to have the meanings assigned to them in the Common Definitions and Provisions Agreement (Livermore/Parcel 6) dated as of December 18, 2007, between you, BNP Paribas Leasing Corporation, and the undersigned, Lxx Research Corporation (the “Common Definitions and Provisions Agreement”). This letter constitutes notice of our election to make the first Base Rent Period beginning on or after , 200___ subject to a LIBOR Election of month(s). We understand that until a different election becomes effective as provided in definition of “LIBOR Election” in the Common Definitions and Provisions Agreement, all subsequent Base Rent Periods will also be subject to the same LIBOR Election.
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Notice of LIBOR Election. Whenever Borrower desires to change or continue the Interest Rate Option on a portion of the Revolving Credit, the Term Loan or the Capital Expenditure Line of Credit to the Adjusted LIBOR, Borrower shall deliver by overnight delivery or facsimile telecopy to Bank a properly completed and executed Notice of LIBOR Election no later than 11:00 A.M. at least three London Business Days in advance of the proposed Conversion Date or expiration of the current Interest Period. The Notice of LIBOR Election shall specify: (i) the proposed Conversion Date (which shall be a Business Day); (ii) the amount of the Revolving Credit, the Term Loan or the Capital Expenditure Line of Credit affected; and (iii) the initial or continuation Interest Period(s) therefor; provided that the minimum amount of any conversion to or continuation of Adjusted LIBOR Loans shall be $500,000 and integral multiples of $100,000 in excess of that amount. If at the termination of any Interest Period, Borrower fails to submit a Notice of LIBOR Election to convert or to continue Adjusted LIBOR Loans, then such Loans shall automatically be and become Base Rate Loans as of the termination of the relevant Interest Period. Subject to Section 2.4.8.6 hereof, Adjusted LIBOR Loans may only be converted into Base Rate Loans on the expiration date of the Interest Period applicable thereto; provided, that no portion of the outstanding Revolving Credit, Term Loan or the Capital Expenditure Line of Credit may be converted into Adjusted LIBOR Loans or continued as Adjusted LIBOR Loans: (i) when any Event of Default or Unmatured Event of Default has occurred and is continuing, or (ii) if the Interest Period relating to the Adjusted LIBOR of such conversion or continuation would extend beyond the Termination Date or the maturity date for either the Term Loan or the applicable Capital Expenditure Loan. A Notice of Borrowing or Notice of Rate Election shall be irrevocable on and after the related Interest Rate Determination Date, and Borrower shall be bound to make, continue or convert the applicable portion of the Revolving Credit, the Term Loan or the Capital Expenditure Line of Credit, as applicable, in accordance therewith.
Sample 1

Related to Notice of LIBOR Election

  • LIBOR Election (i) Borrower may, at any time and from time to time, so long as no Event of Default has occurred and is continuing, elect to exercise the LIBOR Option by notifying Agent prior to 11:00 a.m. (California time) at least 3 Business Days prior to the commencement of the proposed Interest Period (the “LIBOR Deadline”). Notice of Borrower’s election of the LIBOR Option for a permitted portion of the Advances and an Interest Period pursuant to this Section shall be made by delivery to Agent of a LIBOR Notice received by Agent before the LIBOR Deadline, or by telephonic notice received by Agent before the LIBOR Deadline (to be confirmed by delivery to Agent of a LIBOR Notice received by Agent prior to 5:00 p.m. (California time) on the same day). Promptly upon its receipt of each such LIBOR Notice, Agent shall provide a copy thereof to each of the affected Lenders.

  • Borrowing/Election Notice The Borrower shall give the Administrative Agent an irrevocable Borrowing/Election Notice of each conversion of a Floating Rate Loan into a Eurodollar Rate Loan or continuation of a Eurodollar Rate Loan not later than 11:00 a.m. (Chicago time) three (3) Business Days prior to the date of the requested conversion or continuation, specifying: (i) the requested date (which shall be a Business Day) of such conversion or continuation; (ii) the amount and Type of the Loan to be converted or continued; and (iii) the amount of Eurodollar Rate Loan(s) into which such Loan is to be converted or continued, and the duration of the Interest Period applicable thereto.

  • Setting and Notice of LIBOR Rates The applicable LIBOR Rate for each Interest Period shall be determined by the Administrative Agent, and notice thereof shall be given by the Administrative Agent promptly to the Company and each Lender. Each determination of the applicable LIBOR Rate by the Administrative Agent shall be conclusive and binding upon the parties hereto, in the absence of demonstrable error. The Administrative Agent shall, upon written request of the Company or any Lender, deliver to the Company or such Lender a statement showing the computations used by the Administrative Agent in determining any applicable LIBOR Rate hereunder.

  • Notice of Borrowing The Borrower shall request a Revolving Loan borrowing by written notice (or telephonic notice promptly confirmed in writing) to the Agent not later than 11:00 A.M. (Charlotte, North Carolina time) on the Business Day prior to the date of the requested borrowing in the case of Base Rate Loans, and on the third Business Day prior to the date of the requested borrowing in the case of Eurodollar Loans. Each such request for borrowing shall be irrevocable and shall specify (A) that a Revolving Loan is requested, (B) the date of the requested borrowing (which shall be a Business Day), (C) the aggregate principal amount to be borrowed, and (D) whether the borrowing shall be comprised of Base Rate Loans, Eurodollar Loans or a combination thereof, and if Eurodollar Loans are requested, the Interest Period(s) therefor. If the Borrower shall fail to specify in any such Notice of Borrowing (I) an applicable Interest Period in the case of a Eurodollar Loan, then such notice shall be deemed to be a request for an Interest Period of one month, or (II) the type of Revolving Loan requested, then such notice shall be deemed to be a request for a Base Rate Loan hereunder. The Agent shall give notice to each affected Lender promptly upon receipt of each Notice of Borrowing pursuant to this Section 2.1(b)(i), the contents thereof and each such Lender’s share of any borrowing to be made pursuant thereto.

  • Notice of Extension (a) If the Institutional Trustee is the only registered Holder of the Debentures at the time the Company selects an Extended Interest Payment Period, the Company shall give written notice to the Regular Trustees, the Institutional Trustee and the Trustee of its selection of such Extended Interest Payment Period one Business Day before the earlier of (i) the next succeeding date on which Distributions on the Trust Securities issued by the Trust are payable, or (ii) the date the Trust is required to give notice of the record date, or the date such Distributions are payable, to the New York Stock Exchange or other applicable self-regulatory organization or to holders of the Preferred Securities issued by the Trust, but in any event at least one Business Day before such record date.

  • Notice of Committed Borrowing The Borrower shall give the Agent notice (a "Notice of Committed Borrowing") not later than 10:30 A.M. (New York City time) on (x) the date of each Domestic Borrowing, and (y) the third Euro-Dollar Business Day before each Euro-Dollar Borrowing, specifying:

  • Information in Interest Election Requests Each telephonic and written Interest Election Request shall specify the following information in compliance with Section 2.02:

  • Interest Election Requests To make an election pursuant to this Section 2.04, the Borrower shall notify the Administrative Agent of such election by telephone by the time that a Borrowing Request would be required under Section 2.03 if the Borrower were requesting a Borrowing of the Type resulting from such election to be made on the effective date of such election. Each such telephonic Interest Election Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Interest Election Request in substantially the form of Exhibit C and signed by the Borrower.

  • LIBOR Notification Section 3.8(b) of this Agreement provides a mechanism for determining an alternative rate of interest in the event that the London interbank offered rate is no longer available or in certain other circumstances. The Agent does not warrant or accept any responsibility for and shall not have any liability with respect to, the administration, submission or any other matter related to the London interbank offered rate or other rates in the definition of “LIBOR Rate” or with respect to any alternative or successor rate thereto, or replacement rate therefor.

  • Notice of Conversion/Continuation a Notice of Conversion/Continuation to be provided by Borrower Agent to request a conversion or continuation of any Loans as LIBOR Loans, in form satisfactory to Agent.

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