Conversion of Interest Rate Sample Clauses

Conversion of Interest Rate. The interest rate on the Bonds shall be converted from the Adjustable Rate to the Fixed Rate upon the exercise by the Company of the Conversion Option, and the Bonds shall be subject to mandatory tender for purchase by the Owners thereof on the Conversion Date. To exercise the Conversion Option, the Company shall deliver or mail by first class mail a notice to the Trustee at its Principal Office with respect to the determination of the Company to convert the interest rate on the Bonds from the Adjustable Rate to the Fixed Rate, which notice shall be delivered to the Trustee at least thirty (30) but not more than forty-five (45) days prior to the Conversion Date. The Trustee shall then deliver or mail by first class mail a notice in substantially the form attached hereto as EXHIBIT H at least twenty (20) days but not more than thirty (30) days prior to the Conversion Date to the Owner of each Bond at the address shown on the registration books of the Issuer. If the Bonds are held in the Book-Entry System, such notice shall be provided by the Securities Depository in accordance with the requirements of the Securities Depository for the delivery of notices. Any notice given by the Trustee as provided in this Section shall be conclusively presumed to have been duly given, whether or not the Owner receives the notice. Failure to mail any such notice, or the mailing of defective notice, to any Owner, shall not affect the proceeding for redemption as to any Owner to whom proper notice is mailed. Said notice shall state (a) the Conversion Date, and (b) that all Owners of Bonds must tender their Bonds to the Tender Agent for purchase on the Conversion Date, and that any Bonds not so tendered shall be deemed to have been tendered for purchase on the Conversion Date.
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Conversion of Interest Rate. DEMAND PURCHASE OPTION 29 Section 5.01 .......Conversion of Interest Rate on Conversion Date 29 Section 5.02 .......
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Conversion of Interest Rate. Beginning December 20, 2021 the interest rates on each Facility shall be Lender’s then prime rate of interest minus fifty (50) basis points, adjusted by any change in Lender’s prime rate.
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Conversion of Interest Rate. (i) Conversion Directed by the Issuer. The Interest Rate Mode --------------------------------- for the Notes is subject to Conversion to a different Interest Rate Mode from time to time in whole (and not in part) by the Issuer, such right to be exercised by notifying the Trustee, the Credit Facility Issuer, the Tender Agent and the Remarketing Agent at least thirty-five (35) days prior to the effective date of such proposed Conversion. Such notice shall specify (A) the effective date and (B) the proposed Interest Rate Mode. The notice must be accompanied by (i) an opinion of Counsel stating that the Conversion is authorized by this Indenture, and (ii) if the stated amount of the Credit Facility to be held by the Trustee after such Conversion is increased over that of the then current Credit Facility an opinion of Counsel stating that payments of principal and interest on the Notes from funds drawn on such Credit Facility will not constitute avoidable preferences with respect to the bankruptcy of the Issuer under the United States Bankruptcy Code.
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Conversion of Interest Rate. (a) The interest rate on the Bonds is subject to Conversion from one interest rate mode to another or from a Term Rate to one or more successive Term Rates, in whole and not in part, at the option of the Company, by mailing a notice thereof to the Trustee, the Credit Provider, the Paying Agent and the Remarketing Agent at least 30 days before the proposed Conversion Date, accompanied by a preliminary opinion of Bond Counsel stating that such Conversion is authorized and in accordance with this Indenture and will not adversely affect the exclusion of the interest on any of the Bonds from the gross income of the recipient thereof for federal and state income tax purposes. A Conversion may occur only (i) when the Conversion Date is a date on which the Bonds are subject to optional redemption under Section 4.01(a) or (b), (ii) if the Conversion Date would otherwise be an Interest Payment Date or if not, then it is a Business Day and (iii) if the Credit Facility, if any, is in the applicable Coverage Amount. At least ten days prior to the proposed Conversion Date, as a necessary condition to such Conversion, the Company must deliver to the Trustee:
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Conversion of Interest Rate. The Company shall have the right to convert the interest rate on the Bonds from the Variable Rate to the Fixed Rates by delivering a Conversion Notice to the Trustee and causing the other conditions set forth in Section 402(b) of the Indenture to be satisfied. In the event that any Proposed Conversion Date established by the delivery of a Conversion Notice does not become the Conversion Date, the Company shall have the right to establish another Proposed Conversion Date in the same manner.
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Conversion of Interest Rate. The Borrower shall have the right to convert the interest rate on the Bonds from the Variable Rate to the Adjusted Interest Rates, and to cause stated maturities to be assigned to the Bonds, by delivering a Conversion Notice in the form of Exhibit B hereto to the Trustee and causing the other conditions set forth in Section 302(B) of the Indenture to be satisfied, and thereafter to establish Reset Periods from time to time by delivering Reset Notices in the form of Exhibit C hereto in accordance with Section 302(C) of the Indenture. In the event that any Proposed Conversion Date established by the delivery of a Conversion Notice does not become the Conversion Date, the Borrower shall have the right to establish another Proposed Conversion Date in the same manner.
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Conversion of Interest Rate 
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Related to Conversion of Interest Rate

  • Determination of Interest Rate (a) The Applicable Interest Rate with respect to the Loan shall be: (i) LIBOR plus the Spread with respect to the applicable Interest Period for a LIBOR Loan or (ii) the Prime Rate plus the Prime Rate Spread for a Prime Rate Loan if the Loan is converted to a Prime Rate Loan pursuant to the provisions of Section 2.2.3(c) or Section 2.2.3(f).

  • Calculation of Interest The rate of interest on each Loan for each Interest Period is the percentage rate per annum which is the aggregate of the applicable:

  • Selection of Interest Rate Options At any time any portion of this Note bears interest determined in relation to LIBOR, it may be continued by Borrower at the end of the Fixed Rate Term applicable thereto so that all or a portion thereof bears interest determined in relation to the Prime Rate or to LIBOR for a new Fixed Rate Term designated by Borrower. At any time any portion of this Note bears interest determined in relation to the Prime Rate, Borrower may convert all or a portion thereof so that it bears interest determined in relation to LIBOR for a Fixed Rate Term designated by Borrower. At such time as Borrower requests an advance hereunder or wishes to select a LIBOR option for all or a portion of the outstanding principal balance hereof, and at the end of each Fixed Rate Term, Borrower shall give Bank notice specifying: (i) the interest rate option selected by Borrower; (ii) the principal amount subject thereto; and (iii) for each LIBOR selection, the length of the applicable Fixed Rate Term. Any such notice may be given by telephone (or such other electronic method as Bank may permit) so long as, with respect to each LIBOR selection, (A) if requested by Bank, Borrower provides to Bank written confirmation thereof not later than three (3) Business Days after such notice is given, and (B) such notice is given to Bank prior to 10:00 a.m. on the first day of the Fixed Rate Term, or at a later time during any Business Day if Bank, at it’s sole option but without obligation to do so, accepts Borrower’s notice and quotes a fixed rate to Borrower. If Borrower does not immediately accept a fixed rate when quoted by Bank, the quoted rate shall expire and any subsequent LIBOR request from Borrower shall be subject to a redetermination by Bank of the applicable fixed rate. If no specific designation of interest is made at the time any advance is requested hereunder or at the end of any Fixed Rate Term, Borrower shall be deemed to have made a Prime Rate interest selection for such advance or the principal amount to which such Fixed Rate Term applied.

  • Computation of Interest Except as otherwise specified as contemplated by Section 301 for Securities of any series, interest on the Securities of each series shall be computed on the basis of a 360-day year of twelve 30-day months.

  • Determination of Interest (a) The Administrative Agent shall determine the Interest (including unpaid Interest related thereto, if any, due and payable on a prior Payment Date) to be paid by the Borrower on each Payment Date for the related Accrual Period and shall advise the Collateral Agent, the Collateral Manager and the Borrower thereof on the third Business Day prior to such Payment Date.

  • Determination of Rate of Interest and calculation of Interest Amounts The Agent will at or as soon as practicable after each time at which the Rate of Interest is to be determined, determine the Rate of Interest for the relevant Interest Period. The Agent will calculate the amount of interest (the Interest Amount) payable on the Floating Rate Notes for the relevant Interest Period by applying the Rate of Interest to:

  • Determination of Interest Rate Basis The Calculation Agent shall determine the rate derived from each Interest Rate Basis in accordance with the following provisions.

  • Computation of Interest on Debt Securities Interest, if any, on the Debt Securities shall be computed on the basis of a 360-day year of twelve 30-day months, except as may otherwise be provided pursuant to Section 2.03.

  • Limitation of Interest It is the intention of each Borrower and Lender to conform strictly to applicable usury laws. Accordingly, if the transactions contemplated hereby would be usurious under applicable law, then, in that event, notwithstanding anything to the contrary in any Loan Document, it is agreed as follows: (i) the aggregate of all consideration which constitutes interest under applicable law that is taken, reserved, contracted for, charged or received under any Loan Document or otherwise in connection with the Loan shall under no circumstances exceed the maximum amount of interest allowed by applicable law, and any excess shall be credited to principal by Lender (or if the Loan shall have been paid in full, refunded to any Borrower); and (ii) in the event that maturity of the Loan is accelerated by reason of an election by Lender resulting from any default hereunder or otherwise, or in the event of any required or permitted prepayment, then such consideration that constitutes interest may never include more than the maximum amount of interest allowed by applicable law, and any interest in excess of the maximum amount of interest allowed by applicable law, if any, provided for in the Loan Documents or otherwise shall be cancelled automatically as of the date of such acceleration or prepayment and, if theretofore prepaid, shall be credited to principal (or if the principal portion of the Loan and any other amounts not constituting interest shall have been paid in full, refunded to any Borrower.) In determining whether or not the interest paid or payable under any specific contingency exceeds the maximum amount allowed by applicable law, Lender shall, to the maximum extent permitted under applicable law (a) exclude voluntary prepayments and the effects thereof, and (b) amortize, prorate, allocate and spread, in equal parts, the total amount of interest throughout the entire contemplated term of the Loan so that the interest rate is uniform throughout the entire term of the Loan; provided, that if the Loan is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the maximum amount allowed by applicable law, Lender shall refund to any Borrower the amount of such excess, and in such event, Lender shall not be subject to any penalties provided by any laws for contracting for, charging or receiving interest in excess of the maximum amount allowed by applicable law.

  • Computation of Interest, Fees, Yield Protection All interest, as well as fees and other charges calculated on a per annum basis, shall be computed for the actual days elapsed, based on a year of 360 days. Each determination by Agent of any interest, fees or interest rate hereunder shall be final, conclusive and binding for all purposes, absent manifest error. All fees shall be fully earned when due and shall not be subject to rebate, refund or proration. All fees payable under Section 3.2 are compensation for services and are not, and shall not be deemed to be, interest or any other charge for the use, forbearance or detention of money. A certificate as to amounts payable by Borrowers under Section 3.4, 3.6, 3.7, 3.9 or 5.9, submitted to Borrower Agent by Agent or the affected Lender, as applicable, shall be final, conclusive and binding for all purposes, absent manifest error, and Borrowers shall pay such amounts to the appropriate party within 10 days following receipt of the certificate.

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