Quoted Rate Option. At a fixed rate per annum to be quoted by CoBank in its sole discretion in each instance (the “Quoted Fixed Rate Option”). Under this option, rates may be fixed on such balances and for such periods (each, a “Quoted Fixed Rate Period”), as may be agreeable to CoBank in its sole discretion in each instance, provided that: (1) rates may not be fixed for Quoted Fixed Rate Periods of less than 30 days; (2) rates may only be fixed on balances of $100,000.00 or in multiples thereof; and (3) the maximum number of balances that may be subject to this option at any one time shall be five (5).
Quoted Rate Option. An option to pay interest at a fixed rate per annum equal to the Quoted Rate with respect to the applicable Quoted Rate Period and as in effect as of any date of determination; or
Quoted Rate Option. At a fixed rate per annum to be quoted by CoBank in its sole discretion in each instance. Under this option, rates may be fixed on such balances and for such periods as may be agreeable to CoBank in its sole discretion in each instance.
Quoted Rate Option. At a fixed rate per annum at all times equal to the Quoted Rate. For the purposes hereof, Quoted Rate means a fixed rate of interest to apply to a loan (referred to herein as a “Quoted Rate Loan”) for a specified period of time not to exceed thirty (30) days quoted by CoBank in its sole discretion. Quoted Rate Loans shall be (i) in minimum amounts of $1,000,000 and incremental multiples of $1,000,000; and (ii) made available on any Banking Day. The Quoted Rate may not necessarily be the lowest rate at which CoBank funds at that time. Interest on Quoted Rate Loans shall be calculated on the actual number of days each loan is outstanding on the basis of a year consisting of 360 days and shall be payable monthly in arrears on the twentieth Banking Day of the following month.
Quoted Rate Option. At a fixed rate per annum to be quoted by CoBank in its sole discretion in each instance. Under this option, rates may be fixed on such balances and for such periods, as may be agreeable to CoBank in its sole discretion in each instance, provided that: (1) the minimum fixed period shall be 180 days; (2) amounts may be fixed in increments of $100,000.00 or multiples thereof; and (3) the maximum number of fixes in place at any one time shall be five. The Company shall select the applicable rate option at the time it requests a loan hereunder and may, subject to the limitations set forth above, elect to convert balances bearing interest at the variable rate option to one of the fixed rate options. Upon the expiration of any fixed rate period, interest shall automatically accrue at the variable rate option unless the amount fixed is repaid or fixed for an Promissory Note and Single Advance Term Loan Supplement RI1087T04 THE CONNECTICUT WATER COMPANY Clinton, Connecticut -2- additional period in accordance with the terms hereof. Notwithstanding the foregoing, rates may not be fixed for periods expiring after the maturity date of the loans and rates may not be fixed in such a manner as to cause the Company to have to break any fixed rate balance in order to pay any installment of principal. All elections provided for herein shall be made telephonically or in writing and must be received by 12:00 Noon Company’s local time. Interest shall be calculated on the actual number of days each loan is outstanding on the basis of a year consisting of 360 days and shall be payable quarterly in arrears by the 20th day of each March, June, September, and December or on such other day in such month as CoBank shall require in a written notice to the Company.
Quoted Rate Option. At the request of Borrower in a Borrowing Notice, the Loans under the Term Facility to be made under such Borrowing Notice shall bear interest at the initial Quoted Rate (a “Quoted Rate Loan”). The Borrowing notice must confirm that the entire principal amount of the Loan under the Term Facility to be borrowed under such Borrowing Notice is to bear interest at the Quoted Rate for a period beginning on the Funding Date of such Loan until the Maturity Date (“Quoted Rate Period”).
Quoted Rate Option. As to any Portion or Portions of the Loan selected by the Borrowers, interest shall accrue pursuant to this quoted rate option at a fixed annual interest rate (the "Quoted Rate") to be quoted by CoBank in its sole and absolute discretion. Under this option, the interest rate on any Portion of the Loan, in minimum amounts of $100,000, may be fixed for such Interest Periods as may be agreeable to CoBank in its sole discretion in each instance; provided, however, that -------- ------- such Interest Period shall not extend beyond the Maturity Date (as hereinafter defined) and such Interest Period may only expire on a Business Day.
Quoted Rate Option. At a fixed rate per annum to be quoted by CoBank in its sole discretion in each instance. Under this option, rates may be fixed on such balances and for such periods, as may be agreeable to CoBank in its sole discretion in each instance, provided that: (1) the minimum fixed period shall be 30 days; (2) amounts may be fixed in increments of $100,000.00 or multiples thereof; and (3) the maximum number of fixes in place at any one time shall be 5. The Company shall select the applicable rate option at the time it requests a loan hereunder and may, subject to the limitations set forth above, elect to convert balances bearing interest at the variable rate option to one of the fixed rate options. Upon the expiration of any fixed rate period, interest shall automatically accrue at the variable rate option unless the amount fixed is repaid or fixed for an additional period in accordance with the terms hereof. Notwithstanding the foregoing, rates may not be fixed for periods expiring after the maturity date of the loans. All elections provided for herein shall be made telephonically or in writing and must be received by 12:00 Noon Company's local time. Interest shall be calculated on the actual number of days each loan is outstanding on the basis of a year consisting of 360 days and shall be payable monthly in arrears by the 20th day of the following month or on such other day in such month as CoBank shall require in a written notice to the Company.
Quoted Rate Option. From time to time, and so long as no Event of Default has occurred and is continuing, at the request of Borrower ("Quoted Rate Request"), all or any part of the outstanding principal balance under the Notes may bear interest at the Quoted Rate ("Quoted Rate Loans"). The Quoted Rate Request must be made to Agent in writing on any Business Day and is effective as of the Business Day after the Quoted Rate Request is received if received by Agent no later than 12 noon Central Time or as of the second Business Day if received later than 12 noon Central Time. The Quoted Rate Request must specify the principal amount that is to bear interest at the Quoted Rate and the Quoted Rate Period selected by Borrower. Following the expiration of the Quoted Rate Period for any Quoted Rate Loan, interest shall automatically accrue at the Base Rate unless Borrower requests and receives another Quoted Rate Loan as provided in this Subsection 5.1.3 or a Fixed Rate Loan as provided in Subsection 5.1.2.
Quoted Rate Option. As to any Portion or Portions of the Loan selected by the Borrower, interest shall accrue pursuant to this quoted fixed rate option at a fixed annual interest rate (a "Quoted Rate") equal to the rate quoted by CoBank, in its sole and absolute discretion, on the date any such Portion is to be fixed pursuant to this option for the Interest Period selected by the Borrower for such Portion. Under this option, each Portion so fixed for any separate Interest Period must be in a minimum amount of $100,000 and Portions may be fixed for Interest Periods ranging from 30 days to the Maturity Date; provided, that Interest Periods must expire on a Business Day; and provided further, however, that each Portion of the Loan accruing interest at a Quoted Rate shall be repaid in part as provided in Section 5 on each Payment Date occurring during the applicable Interest Period. (3)
