Common use of Terms of Fixed Rate Setting Clause in Contracts

Terms of Fixed Rate Setting. (a) The Lenders, at the Borrower's direction, shall cause the Applicable Rate for each Loan to be a fixed rate effective for the period commencing on a date selected by Borrower during the term of the Notes (the "Swap Effective Date") and ending on the final scheduled maturity date of the Notes issued in respect of such Loan (the "Swap Period"). (b) If the Borrower desires to elect a Fixed Rate, it shall give the Lenders at least five Business Days' advance notice of such intention. By 9:30 a.m. (New York City time) on the date three Business Days prior to the Swap Effective Date, if the Borrower desires the Applicable Rate to become a Fixed Rate, each Lender shall quote to the Borrower the fixed rate of interest at which such Lender would be willing to lend to the Borrower. No later than two minutes after receipt of such quotation, the Borrower shall inform each Lender whether it accepts or rejects such fixed rate quotation. If such fixed rate quotation is accepted, such quoted fixed rate (the "Fixed Rate") shall be the Applicable Rate hereunder. Each Lender agrees to provide its quotation of a Fixed Rate in accordance with market practice based upon the Notional Swap Transaction and as though such Lender were the floating rate payor thereunder. (c) In the event the Applicable Rate is the Fixed Rate, on the date of (i) any prepayment of the Notes pursuant to the Mortgage or (ii) any acceleration of the Notes pursuant to the Mortgage, each Lender will provide a quotation, as it reasonably determines in good faith in accordance with market practice, representing the termination value of the Notional Swap Transaction by 12:00 noon New York City time on such date (the "Termination Date"). (d) Each Lender agrees that, so long as no Special Default or Event of Default shall have occurred and be continuing, it shall, promptly pay to the Borrower at such account as the Borrower may specify any Swap Breakage Gain in respect of the Notes, except that it may first deduct therefrom any amounts then due to it (or, if acting as a swap agent, any Lender) under the Operative Documents and apply any amount so retained to the satisfaction thereof. At such time as there shall not be continuing any such Special Default or Event of Default, such amount shall be paid to the Borrower. (e) Upon the request of the Borrower, each Lender shall provide to the Borrower a good faith estimate of the Swap Breakage Loss or Swap Breakage Gain, as the case may be, related to the Notes, in connection with the occurrence, or anticipated occurrence, of any event contemplated by the Operative Documents that might give rise to an obligation to pay Swap Breakage Loss or Swap Breakage Gain. (f) Upon determination by a Lender of any Swap Breakage Loss or Swap Breakage Gain payable to or by it, as the case may be, such Lender will provide to the Borrower a certificate, certifying such Swap Breakage Loss or Swap Breakage Gain, which certified amount shall be conclusive absent manifest error. Any Swap Breakage Loss or Swap Breakage Gain payable pursuant to the terms of the Operative Documents shall be payable in Dollars. (g) Each Lender agrees to provide its quotation of Swap Break Costs based upon the Notional Swap Transaction and as though such Lender were the floating rate payor thereunder. (h) References in this Section 25 to any Lender shall, to the extent appropriate, mean such Lender in its own right or acting through a swap agent. [signature page follows]

Terms of Fixed Rate Setting. (a) The Lenders, at the Borrower's direction, shall cause the Applicable Rate for each the Loan to be a fixed rate effective for the period commencing on a date selected by Borrower during the term of the Notes (the "Swap Effective Date") and ending on the final scheduled maturity date of the Notes issued in respect of such the Loan (the "Swap Period"); provided that if the proposed Swap Effective Date is not an Interest Payment Date, the Borrower shall be liable for any LIBOR Break Amount. (b) If the Borrower desires the Applicable Rate to elect become a Fixed Rate, it shall give the Lenders at least five Business Days' advance notice of such intention. By 9:30 a.m. (New York City time) on the date three Business Days prior to the Swap Effective Date, if the Borrower desires the Applicable Rate to become a Fixed Rate, each Lender shall quote to the Borrower the fixed rate of interest at which such Lender would be willing to lend to the Borrower. No later than two minutes after receipt of such quotation, the Borrower shall inform each Lender whether it accepts or rejects such fixed rate quotation. If such fixed rate quotation is accepted, such quoted fixed rate (the "Fixed Rate") shall be the Applicable Rate hereunder. Each Lender agrees to provide its quotation of a Fixed Rate in accordance with market practice based upon the Notional Swap Transaction and as though such Lender were the floating rate payor thereunder. (c) In the event the Applicable Rate is the Fixed Rate, on the date of (i) any prepayment of the Notes pursuant to the Mortgage or this Agreement (ii) any acceleration of the Notes pursuant to the MortgageMortgage or this Agreement, each Lender will provide a quotationquotation of the Swap Break Amount, as it reasonably determines in good faith in accordance with market practicethe definition thereof, representing the termination value of the Notional Swap Transaction by 12:00 noon New York City time on such date (the "Termination Date"). (d) Each Lender agrees that, so long as no Special Default or Event of Default shall have occurred and be continuing, it shall, shall promptly pay to the Borrower at such account as the Borrower may specify any Swap Breakage Gain in respect of the Notes, except that it may first deduct therefrom any amounts then due to it (or, if acting as a swap agent, any Lender) under the Operative Documents and apply any amount so retained to the satisfaction thereof. At such time as there shall not be continuing any such Special Default or Event of Default, such amount shall be paid to the Borrower. (e) Upon the request of the Borrower, each Lender shall provide to the Borrower a good faith estimate of the Swap Breakage Loss or Swap Breakage Gain, as the case may be, related to the Notes, in connection with the occurrence, or anticipated occurrence, of any event contemplated by the Operative Documents that might give rise to an obligation to pay Swap Breakage Loss or Swap Breakage Gain. (f) Upon determination by a Lender of any Swap Breakage Loss or Swap Breakage Gain payable to or by it, as the case may be, such Lender will provide to the Borrower a certificate, certifying such Swap Breakage Loss or Swap Breakage Gain, which certified amount shall be conclusive absent manifest error. Any Swap Breakage Loss or Swap Breakage Gain payable pursuant to the terms of the Operative Documents shall be payable in Dollars. (g) Each Lender agrees to provide its quotation of Swap Break Costs Amount based upon the Notional Swap Transaction and as though such Lender were the floating rate payor thereunder. (h) References in this Section 25 to any Lender shall, to the extent appropriate, mean such Lender in its own right or acting through a swap agent. [signature page follows]

Terms of Fixed Rate Setting. (a) The Lenders, at the Borrower's direction, shall cause the Applicable Rate for each the Loan to be a fixed rate effective for the period commencing on a date selected by Borrower during the term of the Notes (the "Swap Effective Date") and ending on the final scheduled maturity date of the Notes issued in respect of such the Loan (the "Swap Period"); provided that if the proposed Swap Effective Date is not an Interest Payment Date, the Borrower shall be liable for any LIBOR Break Amount. (b) If Subject always to Section 25(h) below, if the Borrower desires the Applicable Rate to elect become a Fixed Rate, it shall give the Lenders at least five Business Days' advance notice of such intention. By 9:30 a.m. (New York City time) on the date three Business Days prior to the Swap Effective Date, if the Borrower desires the Applicable Rate to become a Fixed Rate, each Lender shall quote to the Borrower the fixed rate of interest at which such Lender would be willing to lend to the Borrower. No later than two minutes after receipt of such quotation, the Borrower shall inform each Lender whether it accepts or rejects such fixed rate quotation. If such fixed rate quotation is accepted, such quoted fixed rate (the "Fixed Rate") shall be the Applicable Rate hereunder. Each Lender agrees to provide its quotation of a Fixed Rate in accordance with market practice based upon the Notional Swap Transaction and as though such Lender were the floating rate payor thereunder. (c) In the event the Applicable Rate is the Fixed Rate, on the date of (i) any prepayment of the Notes pursuant to the Mortgage or this Agreement (ii) any acceleration of the Notes pursuant to the MortgageMortgage or this Agreement, each Lender will provide a quotationquotation of the Swap Break Amount, as it reasonably determines in good faith in accordance with market practicethe definition thereof, representing the termination value of the Notional Swap Transaction by 12:00 noon New York City time on such date (the "Termination Date"). (d) Each Lender agrees that, so long as no Special Default or Event of Default shall have occurred and be continuing, it shall, shall promptly pay to the Borrower at such account as the Borrower may specify any Swap Breakage Gain in respect of the Notes, except that it may first deduct therefrom any amounts then due to it (or, if acting as a swap agent, any Lender) under the Operative Documents and apply any amount so retained to the satisfaction thereof. At such time as there shall not be continuing any such Special Default or Event of Default, such amount shall be paid to the Borrower. (e) Upon the request of the Borrower, each Lender shall provide to the Borrower a good faith estimate of the Swap Breakage Loss or Swap Breakage Gain, as the case may be, related to the Notes, in connection with the occurrence, or anticipated occurrence, of any event contemplated by the Operative Documents that might give rise to an obligation to pay Swap Breakage Loss or Swap Breakage Gain. (f) Upon determination by a Lender of any Swap Breakage Loss or Swap Breakage Gain payable to or by it, as the case may be, such Lender will provide to the Borrower a certificate, certifying such Swap Breakage Loss or Swap Breakage Gain, which certified amount shall be conclusive absent manifest error. Any Swap Breakage Loss or Swap Breakage Gain payable pursuant to the terms of the Operative Documents shall be payable in Dollars. (g) Each Lender agrees to provide its quotation of Swap Break Costs Amount based upon the Notional Swap Transaction and as though such Lender were the floating rate payor thereunder. (h) The Lenders shall not be obligated to cause the Applicable Rate for the Loans to be a fixed rate on any date when the proposed fixed rate for the Loans exceeds either (x) 6.7% per annum or (y) a rate equal to 1.2% over the Indicative Fixed Rate; it being understood that if the Borrower requests to have the Applicable Rate fixed but the Lenders are not obligated under this subsection (h) to comply with the Borrower's request, the Borrower's right to request to have the Applicable Rate fixed will remain in full force and effect throughout the remaining term of the Loan. (i) References in this Section 25 to any Lender shall, to the extent appropriate, mean such Lender in its own right or acting through a swap agent. [signature page follows] [Credit Agreement [Frontier/2002-B]]