Rate Selection Notice definition

Rate Selection Notice shall have the meaning ascribed to it in Section 2.9(b)(i) hereof.

Rate Selection Notice means a written or telephonic notice (such telephonic notice to be immediately confirmed by written or telefaxed notice) providing irrevocable notice by the Maker to the Payee specifying (i) the Eurodollar Interest Period which Maker desires to select, and (ii) the Effective Date of each such Eurodollar Rate selection.

Rate Selection Notice means a written or telephonic notice (such telephonic notice to be immediately confirmed by written or telefaxed notice) providing irrevocable notice by the Maker to the Payee specifying (i) the Principal Amount which shall be governed by the Eurodollar Rate, (ii) the Eurodollar Interest Period applicable to each such amount to be governed by the Eurodollar Rate, and (iii) the Effective Date of each such Eurodollar Rate selection.

Examples of Rate Selection Notice in a sentence

• The Authorized Representative shall provide the Agent written confirmation of each such telephonic notice in the form of a Borrowing Notice or Interest Rate Selection Notice (as applicable) with appropriate insertions but failure to provide such confirmation shall not affect the validity of such telephonic notice.

• Notice of receipt of such Borrowing Notice or Interest Rate Selection Notice, as the case may be, together with the amount of each Lender's portion of an Advance requested thereunder, shall be provided by the Agent to each Lender by telefacsimile transmission with reasonable promptness, but (provided the Agent shall have received such notice by 10:30 A.M.) not later than 1:00 P.M. on the same day as the Agent's receipt of such notice.

• Each written Revolving Loan Notice shall be substantially in the form of Exhibit A-1 attached hereto, and each written Term Loan Interest Rate Selection Notice shall be substantially in the form of Exhibit A-2 attached hereto.

• The Borrower shall pay interest on the outstanding and unpaid principal amount of each Revolving Loan, commencing on the first date of such Revolving Loan until such Revolving Loan shall be repaid, at the applicable Base Rate or Eurodollar Rate as designated by the Borrower in the related Borrowing Notice or Interest Rate Selection Notice or as otherwise provided hereunder.

• If the Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar Rate Loans in any such Revolving Loan Notice or Term Loan Interest Rate Selection Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month.

More Definitions of Rate Selection Notice

Rate Selection Notice has the meaning set forth in Section 2.3(c) hereof. Each Rate Selection Notice shall be substantially in the form of Exhibit C attached hereto.

Rate Selection Notice means a written, telex or telephonic notice by the Company to the Administrative Agent specifying (i) the principal amount of the outstanding Loans that shall be governed by each Eurodollar Rate, if any, (ii) the Interest Period applicable to each such Eurodollar Loan and (iii) the Effective Date of each such Eurodollar Rate selection.

Rate Selection Notice has the meaning specified in Section 2.4(a).

Rate Selection Notice is deemed given when actually received by Lender at its Commercial Loan Department. If the Rate Selection Notice is initially given in writing, it shall be given in substantially the form of Exhibit B hereto. If the Rate Selection Notice is given in writing, Cavalier Homes, on behalf of itself and the other Borrowers, shall certify to the accuracy of the information set forth thereon. If Borrowers fail to select a new rate option by giving a Rate Selection Notice by 10:00 a.m. Local Time on the appropriate Banking Day pursuant to the provisions of Section 2.5.3 hereof, the Revolving Loan or that portion of the Revolving Loan covered by the expiring LIBOR Rate option shall be a Floating Rate Loan on and after the last day of the Interest Period until the Revolving Loan is paid or until the effective date of a new Rate Selection Notice pursuant to this section, whichever is the first to occur.

Rate Selection Notice shall have the meaning specified in Section 2.8(b)(1) hereof. Real Estate shall mean each of the real Properties listed on Schedule 1.1(a) attached hereto. Refinancing Indebtedness shall mean any Indebtedness of any Credit Parties or any of its Subsidiaries issued in exchange for, or the net proceeds of which are used to extend, refinance, renew, replace, defease or refund, other Indebtedness of such Person, provided, that:

Rate Selection Notice substantially in the form of Exhibit E hereto. Each such telephone or facsimile and written notice shall specify the amount and type of borrowings which are the subject of the designation, if any; the amount and type of borrowings into which such borrowings are to be converted or for which an Interest Option is designated; the proposed date for the designation or conversion (which, in the case of conversion of LIBOR Rate Borrowings, shall be the last day of the LIBOR Interest Period applicable thereto) and the LIBOR Interest Period or Periods, if any, selected by the Company. Such notice by telephone or facsimile shall be irrevocable and shall be given to the Agent no later than the applicable Rate Selection Date. If (a) a new Loan is to be a LIBOR Rate Borrowing, (b) an existing LIBOR Rate Borrowing is maturing at the time that a new Loan is being requested and the Company is electing to have such existing portion of the outstanding principal balance of the Loans going forward bear interest at the same Interest Option and for the same LIBOR Interest Period as the new Loan, or (c) a portion of an Alternate Base Rate Borrowing is to be converted so as to bear interest at the same Interest Option and for the same LIBOR Interest Period as the new Loan, then the Rate Selection Notice shall be included in the Request for Extension of Credit and Certificate of No Default applicable to the new Loan, which shall be given to the Agent no later than the applicable Rate Selection Date.

Rate Selection Notice means a written, telex or telephonic notice by Borrower to Lender specifying: (a) the principal amount of the outstanding Revolving Credit Loans that shall be governed by the LIBOR Rate; (b) the LIBOR Interest Period applicable thereto; and (c) the Effective Date of each such LIBOR Rate selection.