Common use of Selection of Tranche Periods and Discount Rates Clause in Contracts

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. (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 10,000,000 of Capital may be allocated to any single Receivable Interest with respect to which a LIBO Rate appliesInterest. The Seller shall request Discount Rates and Tranche Periods for the Receivable Interests of the Purchasers. The Seller may select the CP Rate, Rate (with the concurrence of the Agent, ) or the Base Rate for the Receivable Interests of FALCON Falcon and the LIBO Rate or the Base Rate for the Receivable Interests of the Investors. The In the case of any Tranche Period with respect to which either the LIBO Rate or the Base Rate applies, the Seller shall by 12:00 noon 9:00 a.m. (Chicago time), (i) at least three Business Days prior to the expiration of any, 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 (iiiii) 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 In the case of any Tranche Period with respect to which the CP Rate applies, unless the Agent shall otherwise direct, or the Seller fails shall otherwise request (i) at least three Business Days prior to request the expiration of such Tranche Period with respect to which the LIBO Rate is being requested as a new Discount Rate and/or and (ii) at least one Business Day prior to the expiration of such Tranche Period with respect to which the Base Rate is being requested as a new Discount Rate, a new Tranche Period for any Receivable Interest pursuant with respect to the terms of this Section 1.3, the Discount Rate shall be which the CP Rate or applies shall automatically commence at the Base Rate, int he Agent's sole discretion, and the applicable expiration of such existing Tranche Period shall be a period of one day commencing on the last day of the then expiring Tranche Period for such Receivable InterestPeriod. 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 InvestorsRate.

Selection of Tranche Periods and Discount Rates. (a) Each Receivable Interest funded by a Conduit shall at all times have an associated amount of Capital. (a)Each Receivable Interest funded by an Investor 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 PurchasersPurchasersInvestors. The Seller may select the CP Rate, with the concurrence of the applicable Managing Agent, or the Base Rate for the Receivable Interests of FALCON any Conduit and the LIBO Rate or the Base Rate for the Receivable Interests of the Investors. The Seller shall by 12:00 noon 11:00 a.m. (Chicago time), (i) at least three Business Days prior to the expiration of any, 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 (iiiiiiii) 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 applicable Managing 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 in the applicable Managing Agent's ’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 applicable Managing 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. (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 applicable Managing Agent, or the Base Rate for the Receivable Interests of FALCON any Conduit and the LIBO Rate or the Base Rate for the Receivable Interests of the Investors. The Seller shall by 12:00 noon 11:00 a.m. (Chicago time), (i) at least three Business Days prior to the expiration of any, 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 applicable Managing 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 in the applicable Managing 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 applicable Managing 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. (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 2,000,000 of Capital (or a larger integral multiple of $1,000,000) may be allocated to any single Receivable Interest with respect to which a LIBO Rate appliesInterest. The Seller shall request Discount Rates and Tranche Periods for the Receivable Interests of the Purchasers. The Purchasers as follows (i) for the Receivable Interests of Falcon, the Seller may select the a CP Rate, Rate (with the concurrence of the Agent, ) or the Base Rate for the Receivable Interests of FALCON Rate; and the LIBO Rate or the Base Rate (ii) for the Receivable Interests of the Investors, the Seller may select the LIBO Rate or the Base Rate. The Seller shall by 12:00 noon (Chicago time), (i) at least three Business Days prior to the expiration of any, then existing select Discount Rates and 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 by giving the Agent irrevocable notice of the new Tranche Period and Discount Rate for the Receivable Interest associated with such expiring Tranche PeriodPeriod not later than the Required Notice Time. The Agent shall, promptly following its knowledge thereof, advise the Seller in any instance if the Tranche Period selected by the Seller at any time is not acceptable to Falcon or the Investors, as applicable. 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 1.3SECTION 2.03 on a timely basis, or the Seller and the Agent fail to agree on an acceptable duration for any Tranche Period, the Discount Rate shall be the CP Rate (if Falcon is the applicable Purchaser) or the Base Rate, int he in the Agent's sole discretion, and the applicable Tranche Period shall be a period of one day Business Day commencing on the day requested in the Purchase Notice or the last day of the then expiring Tranche Period for such Receivable Interest, as applicable. Until the Seller gives timely notice to the Agent of another Discount Rate, the initial Discount Rate for any Receivable Interest transferred from Falcon to the Investors pursuant to Section 2.1 SECTION 3.01 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 InvestorsRate.

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 10,000,000 of Capital may be allocated to any single Receivable Interest with respect to which a LIBO Rate appliesInterest. The Seller shall request Discount Rates and Tranche Periods for the Receivable Interests of the Purchasers. The Seller may select the CP Rate, Rate (with the concurrence of the Agent, ) or the Base Rate for the Receivable Interests of FALCON Falcon and the LIBO Rate or the Base Rate for the Receivable Interests of the Investors. The In the case of any Tranche Period with respect to which either the LIBO Rate or the Base Rate applies, the Seller shall by 12:00 noon 9:00 a.m. (Chicago time), (i) at least three Business Days prior to the expiration of any, 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 (iiiii) 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 In the case of any Tranche Period with respect to which the CP Rate applies, unless the Agent shall otherwise direct, or the Seller fails shall otherwise request (i) at least three Business Days prior to request the expiration of such Tranche Period with respect to which the LIBO Rate is being requested as a new Discount Rate and/or and (ii) at least one Business Days prior to the expiration of such Tranche Period with respect to which the Base Rate is being requested as a new Discount Rate, a new Tranche Period for any Receivable Interest pursuant with respect to the terms of this Section 1.3, the Discount Rate shall be which the CP Rate or applies shall automatically commence at the Base Rate, int he Agent's sole discretion, and the applicable expiration of such existing Tranche Period shall be a period of one day commencing on the last day of the then expiring Tranche Period for such Receivable InterestPeriod. 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 InvestorsRate.

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 PREFCO and the LIBO Rate or the Base Rate for the Receivable Interests of the Investors. The Seller shall (i) by 12:00 noon 11:00 a.m. (Chicago time), (i) at least three Business Days prior to the expiration of any, any then existing Tranche Period with respect to which the LIBO Rate is being requested as a new Discount Rate, (ii) by at least two Business Days prior to 9:00 a.m. (Chicago time) on the date of expiration of any then existing Tranche Period with respect to which the CP Rate is being requested as a new Discount Rate Rate, and (iii) by at least one Business Day prior to 9:00 a.m. (Chicago time) on the date of expiration of any then existing 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 timely a new Discount Rate and/or a new Tranche Period for any Receivable Interest pursuant to the terms of this Section 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 Business Day commencing on the day requested in the Purchase Notice or the last day of the then expiring Tranche Period for such Receivable Interest, as applicable. 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.Rate. -----------