Common use of Seller’s Election of Pricing Rate Clause in Contracts

Seller’s Election of Pricing Rate. The Seller may elect that the Pricing Rate to be applied to any Segment of Open Transactions owed to the Buyer be the Balance Funded Rate from time to time by giving the Buyer telephonic notice, confirmed by the Buyer, not later than 10:00 a.m. on the effective date of such election, specifying the Business Day when such election is to become effective and confirming the telephonic notice in writing by not later than the close of business on the same day. A Balance Funded Rate may only be selected where the Buyer is holding sufficient Qualifying Balances. Such election shall not change the calculation of Price Differential for any period prior to the specified effective date.

Seller’s Election of Pricing Rate. The Seller may elect that the Pricing Rate to be applied to any Segment of Open Transactions owed to the a particular Buyer be the Balance Funded Rate from time to time by giving the Buyer Agent telephonic notice, confirmed by the Buyerapplicable Buyer and the Agent, not later than 10:00 a.m. on the effective date of such election, specifying the Business Day when such election is to become effective and confirming the telephonic notice in writing by not later than the close of business on the same day. A Balance Funded Rate may only be selected where the a Buyer is holding sufficient Qualifying BalancesBalances and shall only be applicable to such Buyer. Such election shall not change the calculation of Price Differential for any period prior to the specified effective date.

Seller’s Election of Pricing Rate. The Seller may elect that the Pricing Rate to be applied to any Open Transaction, or Segment of Open Transactions owed to the Buyer thereof, be the Balance Funded Rate from time to time by giving the Buyer Administrative Agent telephonic notice, confirmed by the Buyer, notice not later than 10:00 a.m. AM on the effective date of such election, specifying the Business Day when such election is to become effective and confirming the telephonic notice in writing by not later than the close of business on the same day. A Balance Funded Rate may only be selected where the a Buyer is holding sufficient Qualifying BalancesBalances and shall only be applicable to such Buyer. Such election shall not change the calculation of Price Differential for any period prior to the specified effective date.