Examples of Rate Designation Notice in a sentence
If, when Agent so notifies Borrower, Borrower has given a Rate Designation Notice specifying a LIBOR Borrowing but the selected Interest Period has not yet begun, as to the applicable Lender such Rate Designation Notice shall be deemed to be of no force and effect, as if never made, and the balance of the Loans made by such Lender specified in such Rate Designation Notice shall bear interest at the Base Rate until a different available Interest Option shall be designated in accordance herewith.
Each Rate Designation Notice with respect to a Continuation of a Loan (or portion thereof) as the same Type of Loan shall specify the amount and Type of such Loan (or portion thereof) being continued (subject to SECTION 5.4) and the duration (subject to the definition of "Interest Period") of the Interest Period therefor which is to commence as of the last day of the then current Interest Period therefor.
The Agent shall promptly notify the Banks of the contents of each such notice, Request for Extension of Credit, or Rate Designation Notice.
If, when Agent so notifies Borrower, Borrower has given a Rate Designation Notice specifying a Eurodollar Rate Borrowing but the selected Interest Period has not yet begun, such Rate Designation Notice shall be deemed to be of no force and effect, as if never made, and the balance of the Loans specified in such Rate Designation Notice shall bear interest at the Base Rate until a different available Interest Option shall be designated in accordance herewith.
The following guidelines have been established to balance the need to obtain pertinent claims information with the need to protect information critical to national security.