Examples of Notice of Rate Election in a sentence
Bank may rely on, and act without liability upon the basis of, any written notice believed by Bank in good faith to be given to, or received from Borrower (including telephonic Notice of Rate Election or Notice of Borrowing), whether or not Bank subsequently receives from Borrower confirmation thereof.
If no Notice of Rate Election is received with respect to a LIBOR Rate Loan on the 3rd Business Day prior to the end of the Interest Period with respect thereto, that LIBOR Rate Loan shall be continued with an Interest Period that corresponds to the Interest Period then ending; provided that the end of such Interest Period is not later than the Maturity Date.
The interest rates applicable to Interest Rate Options selected by Borrowers in a Notice of Borrowing or Notice of Rate Election shall be determined with reference to the most recent Ratio Certificate prepared by Borrowers for the preceding Calendar Quarter.
A Notice of Borrowing or a Notice of Rate Election for an Adjusted LIBOR Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Borrower shall be bound to make, continue or convert to an Adjusted LIBOR Loan in accordance therewith.
All draws paid under Letters of Credit shall be deemed to be Cash Advances under the Revolving Credit to be repaid in accordance with the provisions of Section 2.2.3 hereof, and shall bear interest from the date of such draw at the Base Rate unless and until Borrowers have provided Bank with a properly completed and executed Notice of Rate Election selecting an alternate rate of interest for all or a portion of such Letter of Credit.
A Notice of Borrowing or a Notice of Rate Election for an Adjusted LIBOR Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Borrower shall be bound to make, continue or convert an Advance in accordance therewith.
Whenever Borrower desires to change or continue the Interest Rate Option on a Loan, Borrower shall deliver to Agent a Notice of Rate Election with respect to Adjusted LIBOR Loans no later than 11:00 A.M. at least three (3) London Business Days in advance of the proposed change or continuation.
Take notice that on May 3, 2010, Eagle Rock Desoto Pipeline, L.P., (Desoto) filed a Notice of Rate Election pursuant to section 284.123(b)(1)(ii) of...
The Notice of Rate Election shall specify: (i) the proposed date of change or continuation (which shall be a Business Day); (ii) the type of Advance and amount thereof affected; (iii) whether such interest rate change or continuation is to consist of a Prime Rate Loan, LIBOR Loans or a combination thereof; and (iv) the Interest Periods therefor, if applicable.
If the quoted rate is acceptable to the Borrowers (it being understood that nothing contained in this Section shall obligate the Borrowers to borrow from the Bank, or the Bank to lend to the Borrowers, on any terms, other than those set forth in this Agreement, which are not mutually agreeable to all parties at the time), the Borrowers shall so notify the Bank by submitting to Bank a properly completed and executed Notice of Rate Election.