Selection of an optional duration Sample Clauses

Selection of an optional duration. (a) If a Borrower selects an Interest Period of an optional duration, it may also select in the relevant Request or notice an Interest Period of an approved duration to apply if the selection of an Interest Period of an optional duration becomes ineffective in accordance with paragraph (b) below. (b) If:- (i) a Borrower requests an Interest Period of an optional duration; and (ii) the Agent receives notice from a Bank not later than 3.00 p.m. on the Business Day before the beginning of that Interest Period that it does not agree to the request, the Interest Period for the proposed Loan shall be the alternative period of an approved duration specified in the relevant Request or notice or, in the absence of any alternative selection, 3 months. (c) If the Agent receives a notice from a Bank under paragraph (b) above, it shall notify the relevant Borrower and the Banks promptly of the new Interest Period for the proposed Loan.
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Selection of an optional duration. (a) If a Borrower selects a Term of an optional duration, it may also select in the relevant Request a Term of an approved duration to apply if the selection of a Term of in optional duration becomes ineffective in accordance with paragraph (b) below. (b) If: (i) a Borrower requests a Term of an optional duration; and (ii) the Agent receives notice from a Bank not later than the Prescribed Time that it does not agree to the request, the Term for the proposed Loan shall be of the alternative approved duration specified in the relevant Request or, in the absence of any alternative selection, 6 months. (c) If the Agent receives a notice from a Bank under paragraph (b) above, it shall notify the relevant Borrower and the Banks of the new Term for the proposed Loan by not later than the Prescribed Time.
Sample 1Sample 2
Selection of an optional duration. (a) Subject to Clause 4.2(a)(iii) (Further conditions precedent), if the Company selects an Interest Period of an optional duration, it may also select in the relevant Request an Interest Period of an approved duration to apply if the selection of an Interest Period of an optional duration becomes ineffective in accordance with paragraph (b) below. (b) If:- (i) the Company requests an Interest Period of an optional duration; and (ii) the Facility Agent receives notice from a Bank not later than 3.00 p.m. on the Business Day before the Rate Fixing Day that it does not agree to the request, the Interest Period for the proposed Loan shall be the alternative period of an approved duration specified in the relevant Request or notice or, in the absence of any alternative selection, 3 months. (c) If the Facility Agent receives a notice from a Bank under paragraph (b) above, it shall notify the Company and the Banks promptly of the new Interest Period for the proposed Loan.
Sample 1Sample 2
Selection of an optional duration. (a) If the Borrower selects an Interest Period of an optional duration, it may also select an Interest Period of an approved duration to apply if the selection of an optional duration becomes ineffective in accordance with paragraph (b) below. (b) If:- (i) the Borrower requests an Interest Period of an optional duration; and (ii) the Agent receives notice from a Bank not later than 3:00 p.m. three Business Days prior to the commencement of the Interest Period that matching deposits are not available to it in the ordinary course of business in the relevant interbank market to fund its participation in the Loan for that Interest Period, the Interest Period for that Loan shall be the alternative period so specified or, in the absence of any alternative selection and subject to the following provisions of this Clause 8, three months. In this event, the Agent shall promptly notify the Borrower and the Banks of the new Interest Period for the Loan.
Sample 1
Selection of an optional duration. (a) If a Borrower requests an Interest Period or a Term in a Utilisation Request other than 1, 2, 3 or 6 months, it may also select in the relevant Utilisation Request an alternative Interest Period or Term of 1, 2, 3 or 6 months to apply and paragraph (b) below shall apply. (b) If: (i) a Borrower requests an Interest Period or a Term other than 1, 2, 3 or 6 months; and (ii) the Facility Agent receives notice from a Revolving Facility Bank not later than the Relevant Time stating that it does not agree to such request, then the Interest Period or Term for the proposed Utilisation shall instead be the alternative period specified in the relevant Utilisation Request or, in the absence of any alternative selection, 3 months. (c) If the Facility Agent receives a notice from a Revolving Facility Bank under paragraph (b)(ii) above it shall notify the relevant Borrower and the Revolving Facility Banks of the revised Interest Period or Term for the proposed Advances not later than the Relevant Time. (d) A Borrower may not request a Term or Interest Period other than 1, 2, 3, or 4 weeks, or 2, 3 or 6 months in respect of an Acquisition Advance.
Sample 1
Selection of an optional duration. (a) If the Borrower selects an Interest Period of an optional duration, it may also select an Interest Period of an approved duration to apply if the selection of an optional duration becomes ineffective in accordance with paragraph (b) below. (b) If:- (i) the Borrower requests an Interest Period of an optional duration; and (ii) the Bank notifies the Borrower not later than 10. 30 a. m. on the first Business Day of that Interest Period that matching deposits are not available to it in the London interbank market to fund the Loan for that Interest Period, the Interest Period for that Loan shall be the alternative period so specified or, in the absence of any alternative selection, one month.
Sample 1
Selection of an optional duration. (a) If a Borrower selects an Interest Period of an optional duration, it may also select an Interest Period of an approved duration to apply if the selection of an optional duration becomes ineffective in accordance with paragraph (b) below. (b) If: (i) a Borrower requests an Interest Period of an optional duration; and (ii) the Agent receives notice from a Bank not later than 11:00 a.m. on the first day of the Interest Period that matching deposits may not, in its opinion, be available to it in the London interbank market to fund its participation in the Advance for that Interest Period, the Interest Period for that Advance shall be 3 months or such other period agreed by all the Banks. In this event, the Agent shall promptly notify the Borrower and the Banks of the new Interest Period for the Advance.
Sample 1
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Related to Selection of an optional duration

  • Time and Method of Payment (Amounts Distributed by the Administrative Agent). Except as otherwise provided in Section 4.02, all amounts payable to any Funding Agent or Investor hereunder or with respect to the Series 2019-1 Class A-1 Advance Notes shall be made to the Administrative Agent for the benefit of the applicable Person, by wire transfer of immediately available funds in Dollars not later than 3:00 p.m. (Eastern time) on the date due. The Administrative Agent will promptly, and in any event by 5:00 p.m. (Eastern time) on the same Business Day as its receipt or deemed receipt of the same, distribute to the applicable Funding Agent for the benefit of the applicable Person, or upon the order of the applicable Funding Agent for the benefit of the applicable Person, its pro rata share (or other applicable share as provided herein) of such payment by wire transfer in like funds as received. Except as otherwise provided in Section 2.07 and Section 4.02, all amounts payable to the Swingline Lender or the L/C Provider hereunder or with respect to the Swingline Loans and L/C Obligations shall be made to or upon the order of the Swingline Lender or the L/C Provider, respectively, by wire transfer of immediately available funds in Dollars not later than 3:00 p.m. (Eastern time) on the date due. Any funds received after that time on such date will be deemed to have been received on the next Business Day. The Master Issuer’s obligations hereunder in respect of any amounts payable to any Investor shall be discharged to the extent funds are disbursed by the Master Issuer to the Administrative Agent as provided herein or by the Trustee or Paying Agent in accordance with Section 4.02, whether or not such funds are properly applied by the Administrative Agent or by the Trustee or Paying Agent. The Administrative Agent’s obligations hereunder in respect of any amounts payable to any Investor shall be discharged to the extent funds are disbursed by the Administrative Agent to the applicable Funding Agent as provided herein whether or not such funds are properly applied by such Funding Agent.

  • Addition of an L/C Issuer A Revolving Credit Lender may become an additional L/C Issuer hereunder pursuant to a written agreement among the Borrower, the Administrative Agent and such Revolving Credit Lender. The Administrative Agent shall notify the Revolving Credit Lenders of any such additional L/C Issuer.

  • Method of Measurement All linear and area measurements under this Agreement are measured on the horizontal plane, unless specified otherwise in an attached Schedule.

  • METHOD OF AWARD AND PROCEDURE FOR AWARDING A SOW AGREEMENT 5.1. Contractor selection, or the determination to terminate the SOW-RFP without award, shall be done in the best interest of the State.

  • The Committee For purposes of this Agreement, the term “Committee” means the Compensation Committee of the Board of Directors of the Company or any replacement committee established under, and as more fully defined in, the Plan.

  • Award Criteria 40.1 The Procuring Entity shall award the Contract to the successful tenderer whose tender has been determined to be the Lowest Evaluated Tender in accordance with procedures in Section 3: Evaluation and Qualification Criteria.

  • Particular Methods of Procurement of Consultants’ Services 1. Quality- and Cost-based Selection. Except as otherwise provided in paragraph 2 below, consultants’ services shall be procured under contracts awarded on the basis of Quality and Cost-based Selection.

  • System for Award Management (XXX) Requirement Alongside a signed copy of this Agreement, Grantee will provide Florida Housing with a XXX.xxx proof of registration and Commercial and Government Entity (CAGE) number. Grantee will continue to maintain an active XXX registration with current information at all times during which it has an active award under this Agreement.

  • Negotiation of alternative rate of interest If the Agent’s notice under Clause 5.6 is served after an Advance is made, the Borrower, the Agent and the Lenders or (as the case may be) the Affected Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Agent serves its notice under Clause 5.6 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant Advance or Advances during the Interest Period concerned.

  • Termination of an Issuing Bank The Borrower may terminate the appointment of any Issuing Bank as an “Issuing Bank” hereunder by providing a written notice thereof to such Issuing Bank, with a copy to the Administrative Agent. Any such termination shall become effective upon the earlier of (i) such Issuing Bank’s acknowledging receipt of such notice and (ii) the fifth Business Day following the date of the delivery thereof; provided that no such termination shall become effective until and unless the LC Exposure attributable to Letters of Credit issued by such Issuing Bank (or its Affiliates) shall have been reduced to zero. At the time any such termination shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the terminated Issuing Bank pursuant to Section 2.12(b). Notwithstanding the effectiveness of any such termination, the terminated Issuing Bank shall remain a party hereto and shall continue to have all the rights of an Issuing Bank under this Agreement with respect to Letters of Credit issued by it prior to such termination, but shall not issue any additional Letters of Credit.

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