Determination and Notification of Floating Interest Rates Sample Clauses

Determination and Notification of Floating Interest Rates. Two (2) Business Days prior to the commencement of any Interest Period with respect to a Shelf Note that bears a floating interest rate, the Company shall determine the Adjusted LIBOR Rate (based on the LIBOR Rate Note Margin determined by MetLife pursuant to any Confirmation of Acceptance with respect to such Shelf Note), and will give notice to MetLife and the holders of such Shelf Note, together with a copy of the appropriate Bloomberg Financial Markets Newscreen or other display as specified in the definition of “LIBOR”, specifying the LIBOR rate as so determined. In the event that MetLife does not concur with such determination by the Company, as evidenced by notice to the Company by MetLife within ten (10) Business Days after receipt by MetLife of the notice delivered by the Company pursuant to the previous sentence, the determination of Adjusted LIBOR Rate shall be made by MetLife and shall be conclusive and binding absent demonstrable error. The Interest Period specified in the relevant Confirmation of Acceptance for a Note bearing a floating interest rate shall remain constant during the life of such Note.
Sample 1
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Determination and Notification of Floating Interest Rates. The Floating Interest Rate for each Series of Floating Rate Notes shall be determined by the Person required to make such determination in the Confirmation of Acceptance for such Series of Floating Rate Notes (the “Floating Rate Notice Provider”), and notice thereof shall be given by the Floating Rate Notice Provider to the Company, or MetLife and each holder of Notes of such Series (the “Floating Rate Notice Recipient(s)”), as the case may be, not later than two Business Days prior to the beginning of each Interest Period for such Series of Notes, together with a copy of the relevant screen used for the determination of LIBOR, a calculation of the Floating Interest Rate for such Interest Period, the number of days in such Interest Period, the date on which interest for such Interest Period will be paid and the amount of interest to be paid to each holder of Notes of such Series on such date. If the Company is the Floating Rate Notice Provider and MetLife does not concur with such determination by the Company, as evidenced by a written notice delivered to the Company by MetLife within 10 Business Days after receipt by the Floating Rate Notice Recipients of the notice delivered by the Company pursuant to the immediately preceding sentence, the determination of the Floating Interest Rate for such Series of Notes shall be made by MetLife, and any such determination made in accordance with the provisions of this Agreement shall be conclusive and binding absent manifest error.
Sample 1
Determination and Notification of Floating Interest Rates. Prior to the commencement of any Interest Period with respect to a Floating Rate Note, the applicable Investor Group Representative shall determine the Floating Interest Rate applicable to such Notes, and will give notice (by email or facsimile) to the Company, together with a copy of the appropriate “Page BBAM 1” on Bloomberg Financial Markets (or any successor service or page), specifying LIBOR as so determined. All such determinations by the applicable Investor Group Representative shall be binding on the Company in the absence of manifest error. The Interest Period specified in the relevant Confirmation of Acceptance for a Floating Rate Note shall remain constant during the life of such Note.
Sample 1
Determination and Notification of Floating Interest Rates. Two U.S. Government Business Days prior to the commencement of any Interest Period with respect to a Series of Floating Rate Notes, the applicable Investor Group Representative shall determine the Floating Interest Rate applicable to such Series of Floating Rate Notes, and will give notice (by email or facsimile) to the Company of Term SOFR for such Interest Period, as such rate is published by the Term SOFR Administrator. All such determinations by the relevant Investor Group Representative shall be binding on the Company in the absence of manifest error. The Interest Period specified in the relevant Confirmation of Acceptance for a Floating Rate Note shall remain constant during the life of such Note.
Sample 1
Determination and Notification of Floating Interest Rates. The determination and provision for notice of the Adjusted Floating Rate (based on the Floating Rate Note Margin plus the Floating Rate Index) for any Interest Period with respect to any Shelf Note that bears a floating interest rate, shall be made as set forth in the Confirmation of Acceptance with respect to such Shelf Note.
Sample 1

Related to Determination and Notification of Floating Interest Rates

  • Determination of Applicable Interest Rate As soon as practicable on each Interest Rate Determination Date, Bank shall determine (which determination shall, absent manifest error in calculation, be final, conclusive and binding upon all parties) the interest rate that shall apply to the LIBOR Advances for which an interest rate is then being determined for the applicable Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to Borrower.

  • Determination of Pass-Through Rates for COFI Certificates The Pass-Through Rate for each Class of COFI Certificates for each Interest Accrual Period after the initial Interest Accrual Period shall be determined by the Trustee as provided below on the basis of the Index and the applicable formulae appearing in footnotes corresponding to the COFI Certificates in the table relating to the Certificates in the Preliminary Statement. Except as provided below, with respect to each Interest Accrual Period following the initial Interest Accrual Period, the Trustee shall not later than two Business Days prior to such Interest Accrual Period but following the publication of the applicable Index determine the Pass-Through Rate at which interest shall accrue in respect of the COFI Certificates during the related Interest Accrual Period. Except as provided below, the Index to be used in determining the respective Pass-Through Rates for the COFI Certificates for a particular Interest Accrual Period shall be COFI for the second calendar month preceding the Outside Reference Date for such Interest Accrual Period. If at the Outside Reference Date for any Interest Accrual Period, COFI for the second calendar month preceding such Outside Reference Date has not been published, the Trustee shall use COFI for the third calendar month preceding such Outside Reference Date. If COFI for neither the second nor third calendar months preceding any Outside Reference Date has been published on or before the related Outside Reference Date, the Index for such Interest Accrual Period and for all subsequent Interest Accrual Periods shall be the National Cost of Funds Index for the third calendar month preceding such Interest Accrual Period (or the fourth preceding calendar month if such National Cost of Funds Index for the third preceding calendar month has not been published by such Outside Reference Date). In the event that the National Cost of Funds Index for neither the third nor fourth calendar months preceding an Interest Accrual Period has been published on or before the related Outside Reference Date, then for such Interest Accrual Period and for each succeeding Interest Accrual Period, the Index shall be LIBOR, determined in the manner set forth below. With respect to any Interest Accrual Period for which the applicable Index is LIBOR, LIBOR for such Interest Accrual Period will be established by the Trustee on the related Interest Determination Date as provided in Section 4.08. In determining LIBOR and any Pass-Through Rate for the COFI Certificates or any Reserve Interest Rate, the Trustee may conclusively rely and shall be protected in relying upon the offered quotations (whether written, oral or on the Reuters Screen) from the Reference Banks or the New York City banks as to LIBOR or the Reserve Interest Rate, as appropriate, in effect from time to time. The Trustee shall not have any liability or responsibility to any Person for (i) the Trustee's selection of New York City banks for purposes of determining any Reserve Interest Rate or (ii) its inability, following a good-faith reasonable effort, to obtain such quotations from the Reference Banks or the New York City banks or to determine such arithmetic mean, all as provided for in this Section 4.07. The establishment of LIBOR and each Pass-Through Rate for the COFI Certificates by the Trustee shall (in the absence of manifest error) be final, conclusive and binding upon each Holder of a Certificate and the Trustee.

  • Determination of Pass-Through Rates for LIBOR Certificates (a) On each Interest Determination Date so long as any LIBOR Certificates are outstanding, the Trustee will determine LIBOR on the basis of the British Bankers' Association ("BBA") "

  • Application Among Interest Rate Options All prepayments required pursuant to this Section 5.05 shall first be applied among the Interest Rate Options to the principal amount of the Loans subject to a Base Rate Option, then to Loans subject to Euro-Rate Option. In accordance with Section 5.06(b), the Borrower shall indemnify the Banks for any loss or expense including loss of margin incurred with respect to any such prepayments applied against Loans subject to a Euro-Rate Option on any day other than the last day of the applicable Euro-Rate Interest Period.

  • Interest Rate Determination and Protection (a) The Eurodollar Rate for each Interest Period for Eurodollar Rate Loans shall be determined by the Administrative Agent two (2) Business Days before the first day of such Interest Period.

  • 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).

  • Determination of Federal Funds Shareholder payments shall be considered “Federal Funds” no later than on the day indicated below unless other times are noted in the Prospectus:

  • Interest Rates; Benchmark Notification The interest rate on a Loan denominated in dollars may be derived from an interest rate benchmark that may be discontinued or is, or may in the future become, the subject of regulatory reform. Upon the occurrence of a Benchmark Transition Event, Section 2.14(b) provides a mechanism for determining an alternative rate of interest. The Administrative Agent does not warrant or accept any responsibility for, and shall not have any liability with respect to, the administration, submission, performance or any other matter related to any interest rate used in this Agreement, or with respect to any alternative or successor rate thereto, or replacement rate thereof, including without limitation, whether the composition or characteristics of any such alternative, successor or replacement reference rate will be similar to, or produce the same value or economic equivalence of, the existing interest rate being replaced or have the same volume or liquidity as did any existing interest rate prior to its discontinuance or unavailability. The Administrative Agent and its affiliates and/or other related entities may engage in transactions that affect the calculation of any interest rate used in this Agreement or any alternative, successor or alternative rate (including any Benchmark Replacement) and/or any relevant adjustments thereto, in each case, in a manner adverse to the Borrower. The Administrative Agent may select information sources or services in its reasonable discretion to ascertain any interest rate used in this Agreement, any component thereof, or rates referenced in the definition thereof, in each case pursuant to the terms of this Agreement, and shall have no liability to the Borrower, any Lender or any other person or entity for damages of any kind, including direct or indirect, special, punitive, incidental or consequential damages, costs, losses or expenses (whether in tort, contract or otherwise and whether at law or in equity), for any error or calculation of any such rate (or component thereof) provided by any such information source or service.

  • Determination of Rates Promptly after the determination of any interest rate provided for herein or any change therein, the Administrative Agent shall notify the Lenders to which such interest is payable and the Borrower thereof. Each determination by the Administrative Agent of an interest rate or fee hereunder shall, except in cases of manifest error, be final, conclusive and binding on the parties.

  • Choice of Interest Rate, Etc The Advances hereunder shall, at the option of the Borrower, be made as one or more Base Rate Advances or LIBOR Advances; provided, however, that at such time as there shall have occurred and be continuing a Default hereunder, the Borrower shall not have the right to Continue a LIBOR Advance or to Convert a Base Rate Advance to a LIBOR Advance. Any notice given to the Administrative Agent in connection with a requested Advance or Conversion hereunder shall be given to the Administrative Agent prior to 11:00 a.m. (New York, New York time) in order for such Business Day to count toward the minimum number of Business Days required.

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