Selection of Interest Rates and Tranche Periods. (a) Subject to the following sentence, each Loan shall bear interest initially at LMIR. Thereafter, so long as no Event of Default has occurred and is continuing, the Borrower may from time to time elect to change or continue the type of Interest Rate and/or Tranche Period borne by each Loan or, subject to the minimum amount requirement for each outstanding Loan set forth in Section 2.02, a portion thereof by notice to the Administrative Agent not later than 11:00 a.m. (New York City time), one (1) Business Day prior to the expiration of any Tranche Period or Interest Period, as applicable; provided, that there shall not be more than three (3) LIBOR Loans outstanding hereunder at any one time; provided, further that for the avoidance of doubt, any change from LMIR to Adjusted LIBOR and/or any change to a Tranche Period applicable to a Loan shall not be effective until the Monthly Settlement Date occurring after the date of such request. Any such notices requesting the continuation or conversion of a Loan to the Administrative Agent may be given by telephone, telecopy, or other telecommunication device acceptable to the Administrative Agent (which notice shall be irrevocable once given and, if by telephone, shall be promptly confirmed in writing in a manner acceptable to the Administrative Agent).
(b) If, by the time required in Section 2.05(a), the Borrower fails to select a Tranche Period or Interest Rate for any Loan, such Loan shall automatically accrue Interest at LMIR for the next occurring Interest Period.
Selection of Interest Rates and Tranche Periods. (a) So long as no Event of Default has occurred and is continuing, the Borrower may from time to time elect the type of Interest Rate and/or Tranche Period borne by each Loan or, subject to the minimum amount requirement for each outstanding Loan set forth in Section 2.02, a portion thereof by notice to the Administrative Agent not later than 1:00 p.m. (New York City time), one (1) Business Day prior to the expiration of any Tranche Period or Interest Period, as applicable; provided, that there shall not be more than ten (10) Loans outstanding for which Interest is computed by reference to LMIR or Adjusted LIBOR hereunder at any one time. Any such notices requesting the continuation or conversion of a Loan to the Administrative Agent may be given by telephone, telecopy, or other telecommunication device acceptable to the Administrative Agent (which notice shall be irrevocable once given and, if by telephone, shall be promptly confirmed in writing in a manner acceptable to the Administrative Agent).
(b) If, by the time required in Section 2.05(a), the Borrower fails to select a Tranche Period or Interest Rate for any Loan, such Loan shall automatically accrue Interest at LMIR until such time as the Interest Rate is selected by the Borrower in accordance with this Section 2.05.
Selection of Interest Rates and Tranche Periods. (a) Subject to the following sentence, each Loan made on any day other than a Monthly Settlement Date shall bear interest initially at LMIR. Thereafter or, for each Loan made on a Monthly Settlement Date, at any time, so long as no Event of Default has occurred and is continuing, the Borrower may from time to time elect to change or continue the type of Interest Rate and/or Tranche Period borne by each Loan or, subject to the minimum amount requirement for each outstanding Loan set forth in Section 2.02, a portion thereof by notice to the Administrative Agent not later than noon (New York City time), one (1) Business Day prior to the expiration of any Tranche Period or Interest Period or the making of such Loan on a Monthly Settlement Date, as applicable; provided, that there shall not be more than three (3) LIBOR Loans outstanding hereunder at any one time; provided, further that for the avoidance of doubt, any change from LMIR to Adjusted LIBOR and/or any change to a Tranche Period applicable to a Loan shall not be effective until the Monthly Settlement Date occurring after the date of such request. Any such notices requesting the continuation or conversion of a Loan to the Administrative Agent may be given by telephone, telecopy, or other telecommunication device acceptable to the Administrative Agent (which notice shall be irrevocable once given and, if by telephone, shall be promptly confirmed in writing in a manner acceptable to the Administrative Agent).
(b) If, by the time required in Section 2.05(a), the Borrower fails to select an Tranche Period or Interest Rate for any Loan, such Loan shall automatically be deemed to be a continuation of the type of Interest Rate and, if applicable, Tranche.
Selection of Interest Rates and Tranche Periods. (a) Each Loan Amount shall be allocated to one or more Tranches reflecting the Interest Rates at which such Loan Amount accrues Interest and the Tranche Periods for which such Interest Rates apply. In each request for a Loan and three Business Days before the expiration of any Tranche Period applicable to any Loan Amount of any Lender, the Borrower may request the Interest Rate(s) and Tranche Period(s) to be applicable to such Loan Amount. All Loan Amounts (i) of Windmill shall accrue Interest at the CPRate and (ii) of the Committed Lenders may accrue Interest at either the Eurodollar Rate or the Prime Rate, in all cases as established for each Tranche Period applicable to such Loan Amount. Each Tranche shall be in the minimum amount of $1,000,000 and in multiples thereof or, in the case of Interest accruing at the Prime Rate, in any amount of the Loan Amount that otherwise has not been allocated to another Tranche Period. Any Loan Amount not allocated to a Tranche Period shall be a Prime Tranche. During the pendency of a Termination Event, the Agent may reallocate any outstanding Loans to a Prime Tranche. All Interest accrued during a Tranche Period shall be payable by the Borrower on the last day of such Tranche Period or, for a Eurodollar Tranche with a Tranche Period of more than three months, 90 days after the commencement, and on the last day, of such Tranche Period.
(b) If, by the time required in Section 2.3(a), the Borrower fails to select a Tranche Period for any Loan Amount of Windmill, the Agent may, in its sole discretion, select such Tranche Period. If, by the time required in Section 2.3(a), the Borrower fails to select a Interest Rate or Tranche Period for any Loan Amount of the Committed Lenders, such Loan Amount shall automatically accrue Interest at the Prime Rate for a three Business Day Tranche Period. Any Loan Amounts purchased from Windmill pursuant to Section 3.1 shall have a Prime Tranche Period of three Business Days.
(c) If the Agent or any Committed Lender determines (i) that maintenance of any Eurodollar Tranche would violate any applicable law or regulation or (ii) that deposits of a type and maturity appropriate to match fund any of such Committed Lender's Eurodollar Tranches are not available, then the Agent, upon the direction of such Committed Lender shall suspend the availability of, and terminate any outstanding, Eurodollar Tranche so affected. All Loan Amounts allocated to any such terminated Eurodollar Tranche shall be...
Selection of Interest Rates and Tranche Periods. Records of Loans 3244 SECTION 2.06. Security Interest 3345 ARTICLE III SETTLEMENT PROCEDURES AND PAYMENT PROVISIONS 3446 SECTION 3.01. Settlement Procedures 3446 SECTION 3.02. Payments and Computations, Etc 3648 ARTICLE IV INCREASED COSTS; FUNDING LOSSES; TAXES; ILLEGALITY 3749
Selection of Interest Rates and Tranche Periods. Subject to the following sentence, each Loan shall bear interest initially at LMIR. Thereafter, so long as no Event of Default has occurred and is continuing, the Borrower may from time to time elect to change or continue the type of Interest Rate and/or Tranche Period borne by each Loan or, subject to the minimum amount requirement for each outstanding Loan set forth in Section 2.02, a portion thereof by notice to the Administrative Agent not later than 11:00 a.m. (New York City time), one (1) Business Day prior to the expiration of any Tranche Period or Interest Period, as applicable; provided, that there shall not be more than three (3) LIBOR Loans outstanding hereunder at any one time; provided, further that for the avoidance of doubt, any change from LMIR to Adjusted LIBOR and/or any change to a Tranche Period applicable to a Loan shall not be effective until the Monthly Settlement Date occurring after the date of such
Selection of Interest Rates and Tranche Periods. (a) Subject to the following sentence, each Loan shall bear interest initially at the Daily BSBY Floating Rate. Thereafter, so long as no Event of Default has occurred and is continuing, the Borrower may from time to time elect to change or continue the type of Interest Rate and/or Tranche Period borne by each Loan or, subject to the minimum amount requirement for each outstanding Loan set forth in Section 2.02, a portion thereof by notice to the Administrative Agent not later than 11:00 a.m. (New York City time), one (1) Business Day 39762333169 19631658 762333169 19631658 prior to the expiration of any Tranche Period or Interest Period, as applicable; provided, that there shall not be more than three (3) BSBY Rate Loans outstanding hereunder at any one time; provided, further that for the avoidance of doubt, any change from the Daily BSBY Floating Rate to the BSBY Rate and/or any change to a Tranche Period applicable to a Loan shall not be effective until the Monthly Settlement Date occurring after the date of such request. Any such notices requesting the continuation or conversion of a Loan to the Administrative Agent may be given by telephone, telecopy, or other telecommunication device acceptable to the Administrative Agent (which notice shall be irrevocable once given and, if by telephone, shall be promptly confirmed in writing in a manner acceptable to the Administrative Agent).
(b) If, by the time required in Section 2.05(a), the Borrower fails to select a Tranche Period or Interest Rate for any Loan, such Loan shall automatically accrue Interest at the [Daily BSBY Floating Rate] for the next occurring Interest Period.
Selection of Interest Rates and Tranche Periods. Section 2.4. Fees and Other Costs and Expenses...................... 25 Section 2.5. Maintenance of Secured Interest; Deemed Collection...
Selection of Interest Rates and Tranche Periods. (1) The provisions of this subsection (a)(1) shall apply to each Loan Amount of Windmill funded with commercial paper issued on or before the Agent makes the election described in clause (a)(2) below: Each Loan Amount shall be allocated to one or more Tranches reflecting the Interest Rates at which such Loan Amount accrues Interest and the Tranche Periods for which such Interest Rates apply. Each Loan Amount of Windmill shall accrue Interest at the CP Rate. Each Tranche shall be in the minimum amount of $1,000,000 and in multiples thereof. All Interest accrued on the Loan Amount of Windmill during a Tranche Period shall be payable by the Borrower on the last day of such Tranche Period.
(2) At the Agent's option, the Agent may notify the Borrower that the provisions of this subsection (a)(2) shall apply to each Loan Amount of Windmill funded with Pooled Commercial Paper issued after the Agent delivers a notice to the Borrower that it elects to have the provisions of this clause (a)(2) to be applicable to the Loan Amount of Windmill: The Borrower shall pay Funding Charges with respect to Windmill's Loan Interest for each day that any Loan Amount in respect of such Loan Interest is outstanding. Each such Loan Interest will
Selection of Interest Rates and Tranche Periods. The Interest Rates, Tranche Periods and related matters for all Loan Amounts of each Lender Group shall be set forth in, and governed by the terms of, the Rate Supplement for such Lender Group. Each Rate Supplement shall supplement this agreement with respect to the terms and provisions set forth therein.
