Rate Determination Conclusive. The applicable LIBOR Rate for each Interest Period shall be determined by the Bank, and notice thereof shall be given by the Bank promptly to the Borrower. Each determination of the LIBOR Rate by the Bank shall be conclusive and binding upon the parties hereto, in the absence of manifest error. The Bank shall, upon written request of the Borrower, deliver to the Borrower a statement showing the computation used by the Bank in determining the applicable LIBOR Rate hereunder.
Appears in 1 contract
