Examples of Fixed Rate Request in a sentence
The Fixed Rate Request must specify the principal amount that is to bear interest at the LIBO Rate and the Fixed Rate Period selected by Borrower.
The Fixed Rate Request must be made to Agent in writing on any Business Day and is effective as of the third Business Day after the Fixed Rate Request is received if received by Agent no later than 12 noon Central Time or as of the fourth Business Day if received later than 12 noon Central Time.
From time to time, and so long as no Event of Default has occurred and is continuing, at the request of Borrower ("Fixed Rate Request"), all or any part of the outstanding principal balance under the Notes may bear interest at the LIBO Rate ("Fixed Rate Loans").
Upon the expiration of the Interest Period for any Fixed Rate Portion, unless Bank has received from Borrower a new Fixed Rate Request with respect thereto, such Fixed Rate Portion shall be converted automatically to a Prime Rate Portion.
The Interest Period for any Fixed Rate Portion shall commence on the Effective Date of such Fixed Rate Portion as specified in the Fixed Rate Request applicable thereto and shall continue for the applicable Interest Period specified in such Fixed Rate Request.
Borrower may request that all or any portion of the outstanding Loan bear interest at the rate set forth in Section 2.2(a)(i) for a specified Interest Period by delivering to the Bank a Fixed Rate Request, not later than 10:00 a.m. Atlanta, Georgia time, at least three (3) Business Days prior to the Effective Date of the change to such rate.
From time to time, and so long as no Event of Default has occurred and is continuing, at the request of Borrower ("Fixed Rate Request"), all or any part of the outstanding principal balance under the Promissory Notes may bear interest at the Fixed Rate ("Fixed Rate Loans"), provided however that at least fifty percent (50%) of the outstanding principal balance under the Promissory Notes must bear interest at the Fixed Rate through and including September 30, 1996 ("Fixed Rate Requirement").
Borrxxxx xxxees to indemnify Bank and to hold it harmless from any loss or expense which it may sustain or incur as a consequence of failure by Borrower to consummate any Fixed Rate Request, including, without limitation, any such loss or expense arising from interest or fees payable by Bank to Banks of funds obtained by it in order to maintain any Fixed Rate Portion.
Borrower agrees to indemnify Bank and to hold it harmless from any loss or expense which it may sustain or incur as a consequence of failure by Borrower to consummate any Fixed Rate Request, including, without limitation, any such loss or expense arising from interest or fees payable by Bank to Banks of funds obtained by it in order to maintain any Fixed Rate Portion.
The Loan shall initially bear interest as a Fixed Rate Loan for an Interest Period of 90 days and Borrower shall not be required to submit a Fixed Rate Request for such initial Interest Period.