Proposed election Sample Clauses

Proposed election. (a) Total Amount: $ (b) Date Interest Option is to be effective: (c) Interest Option to be applicable (check one): [ ] Base Rate [ ] Eurodollar Rate (d) Interest Period: months (if available and if applicable) Borrower represents and warrants that the Interest Option and Interest Period selected above comply with all provisions of the Loan Agreement and that there exists no Event of Default or any event which, with the passage of time, the giving of notice or both, would be an Event of Default. Date: , 20 HCC INSURANCE HOLDINGS, INC., a Delaware corporation By: Name: Title: $ , 20 FOR VALUE RECEIVED, HCC INSURANCE HOLDINGS, INC., a Delaware corporation (“Maker”), promises to pay to the order of (“Payee”), at the principal office of W▇▇▇▇ Fargo Bank, National Association, a national banking association, 1▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇., MAC C7300-034, D▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, in immediately available funds and in lawful money of the United States of America, the principal sum of Dollars ($ ) (or the unpaid balance of all principal advanced against this note, if that amount is less), together with interest on the unpaid principal balance of this note from time to time outstanding at the rate or rates provided in that certain Loan Agreement (as amended, supplemented, restated or replaced from time to time, the “Loan Agreement”) dated as of November 24, 2004 among Maker, certain signatory banks named therein, W▇▇▇▇ FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent and Lead Arranger (in such capacity herein called “Agent”), and WACHOVIA BANK, NATIONAL ASSOCIATION, as Syndications Agent; provided, that for the full term of this note the interest rate produced by the aggregate of all sums paid or agreed to be paid to the holder of this note for the use, forbearance or detention of the debt evidenced hereby (including, but not limited to, all interest on this note at the Stated Rate plus the Additional Interest) shall not exceed the Ceiling Rate. Any term defined in the Loan Agreement which is used in this note and which is not otherwise defined in this note shall have the meaning ascribed to it in the Loan Agreement.