Interest Rate Election Notice definition

Interest Rate Election Notice has the meaning described in Section 2.4.2(e) (Selection of Interest Rates).

Interest Rate Election Notice has the meaning specified in Section 3.03(3).

Interest Rate Election Notice a written notice by the Borrower delivered in connection with a borrowing of Bank Loans, substantially in the form of Exhibit M to the Project Loan Agreement.

Examples of Interest Rate Election Notice in a sentence

• If, within the time period required under this SECTION 4.6, the Agent shall not have received an Interest Rate Election Notice from the Borrower of an election to renew a LIBOR Loan for an additional Interest Period, then, upon the expiration of the Interest Period therefor, such LIBOR Loan shall be converted automatically to a Base Rate Loan.

• Upon timely receipt of an Interest Rate Election Notice, the Agent shall promptly notify the Borrower and the Lenders of the applicable Elected Rate for the Interest Periods selected in such Interest Rate Election Notice; provided, however, that the failure by the Agent to provide any such notice shall not, in any way, affect or diminish the Borrower's obligations to any Lender, or any Lender's rights under this Agreement, the Notes or any of the other Credit Documents.

• For any Interest Period prior to which Borrower fails to timely submit an Interest Rate Election Notice to Administrative Agent, the LIBOR Rate in effect two (2) LIBOR Business Days prior to the beginning of the next Interest Payment Date shall apply in the next Interest Period.

• The Administrative Agent shall have received, on or before the time required for its receipt pursuant to Section 3.2, an Interest Rate Election Notice with respect to the Bank Project Loan requested to be made on such Borrowing Date, substantially in the form of Exhibit M.

• In the case of a Bank L/C Loan, the Administrative Agent shall have received, on or before the time required for its receipt pursuant to Section 3.2, an Interest Rate Election Notice with respect to such Bank L/C Loan, substantially in the form of Exhibit M.

More Definitions of Interest Rate Election Notice

Interest Rate Election Notice shall be given substantially in the form of Schedule 2 and shall be irrevocable and binding upon the applicable Borrower. If the applicable Borrower fails to deliver an Interest Rate Election Notice to the Administrative Agent for any LIBOR Advance as provided in this Section 3.03(3), such LIBOR Advance shall be converted (as of the last day of the applicable Interest Period) to and thereafter shall be outstanding as an ABR Advance in respect of the applicable Borrower. The Borrowers shall not select an Interest Period which conflicts with the definition of Interest Period in Section 1.01 or with the repayment requirements contained in Section 2.05.

Interest Rate Election Notice means a notice from the Borrower in substantially the form of Exhibit B hereto.

Interest Rate Election Notice means a notice in the form attached hereto as EXHIBIT D to be delivered by the Borrower to the Agent pursuant to SECTION 3.1(b) and SECTION 4.6.

Interest Rate Election Notice shall be given substantially in the form of Schedule 2 and shall be irrevocable and binding upon the Borrower. If the Borrower fails to deliver an Interest Rate Election Notice to the Administrative Agent for any SOFR Advance as provided in this Section 3.03(3), such SOFR Advance shall be converted (as of the last day of the applicable Interest Period) to and thereafter shall be outstanding as a Base Rate Advance. The Borrower shall not select an Interest Period which conflicts with the definition of Interest Period in Section 1.01 or with the repayment schedule in Section 2.05.

Interest Rate Election Notice means a duly completed notice substantially in the form of Exhibit B, or such other form as the Agent may from time to time approve for use by the Borrower in choosing the interest rate applicable to Term Loans as provided in this Agreement.

Interest Rate Election Notice shall be given substantially in the form of Schedule 2 and shall be irrevocable and binding upon the applicable Borrower. If the applicable Borrower fails to deliver an Interest Rate Election Notice to the Agent for any LIBOR Rate Advance as provided in this Section 3.03(2), such LIBOR Rate Advance shall be converted (as of the last day of the applicable Interest Period) to and be outstanding as a Base Rate (Canada) Advance or Base Rate (United States) Advance, as applicable. No Borrower shall select an Interest Period which conflicts with the definition of Interest Period.

Interest Rate Election Notice means a notice substantially in the form of Exhibit “L” attached to this Agreement and as more particularly described in Section 4.3(e).