Selection of Tranche Periods and Discount Rates. (a) Each Receivable Interest shall at all times have an associated amount of Capital, a Discount Rate and Tranche Period applicable to it. Not less than $1,000,000 of Capital may be allocated to any single Receivable Interest with respect to which a LIBO Rate applies. The Seller shall request Discount Rates and Tranche Periods for the Receivable Interests of the Purchasers. The Seller may select the CP Rate, with the concurrence of the Agent, or the Base Rate for the Receivable Interests of FALCON and the LIBO Rate or the Base Rate for the Receivable Interests of the Investors. The Seller shall by 12:00 noon (Chicago time), (i) at least three Business Days prior to the expiration of any, then existing Tranche Period with respect to which the LIBO Rate is being requested as a new Discount Rate, (ii) at least two Business Days prior to the expiration of any then existing Tranche Period with respect to which the CP Rate is being requested as a new Discount Rate and (iii) at least one Business Day prior to the expiration of any Tranche Period with respect to which the Base Rate is being requested as a new Discount Rate, give the Agent irrevocable notice of the new Tranche Period and Discount Rate for the Receivable Interest associated with such expiring Tranche Period. If the Seller fails to request a new Discount Rate and/or a new Tranche Period for any Receivable Interest pursuant to the terms of this Section 1.3, the Discount Rate shall be the CP Rate or the Base Rate, int he Agent's sole discretion, and the applicable Tranche Period shall be a period of one day commencing on the last day of the then expiring Tranche Period for such Receivable Interest. Until the Seller gives notice to the Agent of another Discount Rate, the initial Discount Rate for any Receivable Interest transferred to the Investors pursuant to Section 2.1 shall be the Base Rate and the Tranche Period for such Receivable Interest shall be a period of five days commencing on the day that such Receivable Interest is transferred to such Investors.
Selection of Tranche Periods and Discount Rates. 2 Section 1.4. Percentage Evidenced by Receivable Interests...... 3 Section 1.5. Dividing or Combining Receivable Interests........ 3 Section 1.6. Reinvestment Purchases and Settlements............ 4 Section 1.7.
Selection of Tranche Periods and Discount Rates. (a) Each Receivable Interest shall at all times have an associated amount of Capital, a Discount Rate and Tranche Period applicable to it. Not less than $3,000,000 of Capital may be allocated to any single Receivable Interest. The Seller shall request Discount Rates and Tranche Periods for the Receivable Interests of the Purchasers. For the Receivable Interests of FALCON, the Seller may select the CP Rate, with the concurrence of the Agent, or the Base Rate; for the Receivable Interests of the Investors, the Seller may select the LIBOR Rate or the Base Rate. The Seller shall by 9:00 a.m. (Chicago time):
Selection of Tranche Periods and Discount Rates. 21 Section 2.04. Percentage Evidenced by Receivable Interests.................................................. 22 Section 2.05. Dividing or Combining Receivable Interests.................................................... 22 Section 2.06. Reinvestments and Pre-Liquidation Settlements................................................. 22 Section 2.07.
Selection of Tranche Periods and Discount Rates. Each Receivable Interest shall at all times have an associated amount of Capital, a Discount Rate and Tranche Period applicable to it. The Seller shall request Discount Rates and Tranche Periods for the Receivable Interests from the Purchaser. The Purchaser will identify the LIBO Rate or the CP Rate to be applicable to each Receivable Interest, based upon its actual cost of funds. If the Purchaser issues Commercial Paper to fund its purchase of the relevant Receivable Interest, the CP Rate will be applicable. Otherwise, the LIBO Rate will be applicable.
Selection of Tranche Periods and Discount Rates. (a) Each Class A Certificate Interest shall at all times have an associated amount of Class A Invested Amount, a Discount Rate and Tranche Period applicable to it. Not less than $2,000,000 of Invested Amount may be allocated to any single Class A Certificate Interest. The Seller shall request Discount Rates and Tranche Periods for the Class A Certificate Interests. The Seller may select the CP Rate, with the concurrence of the Program Agent, or the Base Rate for the Class A Certificate Interests of Falcon and the LIBO Rate or the Base Rate for the Class A Certificate Interests of the Liquidity Providers. The Seller shall by 11:00 a.m. (Chicago time), (i) at least three Business Days prior to the expiration of any then existing Tranche Period with respect to which the LIBO Rate is being requested as a new Discount Rate, (ii) at least three Business Days prior to the expiration of any then existing Tranche Period with respect to which the CP Rate is being requested as a new Discount Rate and (iii) at least one Business Day prior to the expiration of any Tranche Period with respect to which the Base Rate is being requested as a new Discount Rate, give the Program Agent irrevocable notice of the new Tranche Period and Discount Rate for the Receivable Interest associated with such expiring Tranche Period.
Selection of Tranche Periods and Discount Rates. (a) The Investment with respect to each Ownership Interest shall at all times be allocated to one or more Tranche Periods, each of which Tranche Periods shall have an associated Discount Rate. In any notice issued under Section 6.2(a) and requesting the Initial Purchase or any Incremental Purchase, the Seller shall specify the initial Tranche Period or Periods for the Investment then being requested and a Discount Rate for each such Tranche Period. Thereafter, the Seller shall by 11:00 a.m. (New York City time):
Selection of Tranche Periods and Discount Rates. (a) Each Receivable Interest shall at all times have an associated amount of Capital, a Discount Rate and Tranche Period applicable to it. Not less than $3,000,000 of Capital may be allocated to any single Receivable Interest. The Seller shall request Discount Rates and Tranche Periods for the Receivable Interests of the Purchasers. The Seller may select the Adjusted LIBOR Rate or the Base Rate to be applicable to each Receivable Interest; PROVIDED, HOWEVER, that not more than 5 Tranche Periods with respect to Adjusted LIBOR Rates may be outstanding at any one time. The Seller shall by 12:00 noon (Chicago time):
Selection of Tranche Periods and Discount Rates. Initially, the LIBO Rate shall be the sole Discount Rate which shall be applicable to purchases hereunder and a one-month, two month or three month LIBO Periods shall be the sole Tranche Periods permitted hereunder; provided, however, that Purchaser, in its sole and absolute discretion, may elect to make the CP Rate or alternative Tranche Periods available to Seller on a subsequent Distribution Date. If Purchaser elects to make the CP Rate or alternative Tranche Periods available to Seller, in each subsequent Purchase Notice the Seller may request the CP Rate or LIBO Rate as the Discount Rate or any available Tranche Period as the Tranche Period for determining the Discount Rate for a Settlement Period, provided, however, that Seller must select the same Tranche Period and Discount Rate for the full amount of the Settlement Period Commitment in effect for such Settlement Period. In the event Purchaser does not concur with the Discount Rate requested by Seller in any Purchase Notice, Purchaser shall select a Discount Rate for such period in its sole and absolute discretion. Any Tranche Period that commences before the Facility Termination Date which will otherwise end on a date occurring after the Facility Termination Date shall end on the Facility Termination Date and the duration of any Tranche Period that commences on or after the Termination Date shall be of such duration as shall be selected by Purchaser with the concurrence of the Agent. In addition, if a CP Disruption or LIBO Disruption shall have occurred and be continuing, Purchaser may, upon notice to the Seller, terminate any Tranche Period then in effect if Purchaser has directly or indirectly funded the Capital allocated to such Tranche Period by issuing Commercial Paper at the CP Rate or at the LIBO Rate, respectively. Seller expressly acknowledges that Purchaser shall only be obligated to make funds available for purchases hereunder or to purchase Receivable Interests hereunder to the extent that it is able to raise funds for such purpose through the issuance of Commercial Paper or by borrowing funds from third parties which have issued Commercial Paper and in the event of a CP Disruption or LIBO Disruption, Purchaser shall not make any additional purchases of Receivable Interests hereunder during the continuation of such CP Disruption or LIBO Disruption, as the case may be.
Selection of Tranche Periods and Discount Rates. 3 Section 1.4. Percentage Evidenced by Receivable Interests 4 Section 1.5. Dividing or Combining Receivable Interests 4 Section 1.6. Reinvestment Purchases 4 Section 1.7.
