Common use of Quoted Rate Option Clause in Contracts

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).

Appears in 2 contracts

Samples: Note and Supplement (Pennichuck Corp), Master Loan Agreement (Connecticut Water Service Inc / Ct)

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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”)instance. Under this option, rates may be fixed on such balances and for such periods (each, a “Quoted Fixed Rate Period”)periods, as may be agreeable to CoBank in its sole discretion in each instance, provided that: (1) rates may not the minimum fixed period shall be fixed for Quoted Fixed Rate Periods of less than 30 180 days; (2) rates amounts may only be fixed on balances in increments of $100,000.00 or in multiples thereof; and (3) the maximum number of balances that may be subject to this option fixes in place at any one time shall be five (5)five.

Appears in 2 contracts

Samples: Note and Supplement (Connecticut Water Service Inc / Ct), Connecticut Water Service Inc / Ct

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 daysone year; (2) unless the Company fixes the rate of interest on the entire amount of the Loans, rates may only be fixed on balances of not less than $100,000.00 or in multiples thereof100,000.00; and (3) the maximum number of balances that may be subject to this option at any one time shall be five (5).

Appears in 1 contract

Samples: Note and Supplement (Middlesex Water Co)

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 increments of $100,000 in excess thereof; and (3) the maximum number of balances that may be subject to this option at any one time shall be five (5).. (3)

Appears in 1 contract

Samples: www.sec.gov

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 increments of $100,000 in excess thereof; and (3) the maximum number of balances that may be subject to this option at any one time shall be five (5).

Appears in 1 contract

Samples: Note and Supplement (Connecticut Water Service Inc / Ct)

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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 30 180 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).

Appears in 1 contract

Samples: Note and Supplement (Pennichuck Corp)

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: (1a) rates may not be fixed for Quoted Fixed Rate Periods of less than 30 daysone year; (2b) rates may only be fixed on balances of not less than $100,000.00 or in multiples thereof100,000.00; and (3c) the maximum number of balances that may be subject to this option at any one time shall be five (5).

Appears in 1 contract

Samples: Combination Water Utility Real Estate Mortgage and Security Agreement (Middlesex Water Co)

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