Common use of Determination of Applicable Interest Rate Clause in Contracts

Determination of Applicable Interest Rate. As soon as practicable after 9:00 A.M. (Los Angeles time) on each Interest Rate Determination Date, Agent shall determine (which determination shall, absent manifest error, be final, conclusive and binding upon all parties) the interest rate that shall apply to the LIBOR Rate Loans 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 Company and each Lender.

Appears in 3 contracts

Samples: Credit Agreement (Bell Industries Inc), Credit Agreement (Varco International Inc), Credit Agreement (Varco International Inc)

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Determination of Applicable Interest Rate. As soon as practicable after 9:00 10:00 A.M. (Los Angeles New York time) on each Interest Rate Determination Date, Agent shall determine (which determination shall, absent manifest error, be final, conclusive and binding upon all parties) the interest rate Adjusted LIBOR Rate that shall apply to the LIBOR Rate Loans 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 Company Borrowers and each Lender.

Appears in 1 contract

Samples: Credit Agreement (Beasley Broadcast Group Inc)

Determination of Applicable Interest Rate. As soon as practicable after 9:00 10:00 A.M. (Los Angeles New York time) on each Interest Rate Determination Date, Agent shall determine (which determination shall, absent manifest error, be final, conclusive and binding upon all parties) the interest rate that shall apply to the LIBOR Rate Loans 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 Company and each Lender.

Appears in 1 contract

Samples: Credit Agreement (Regent Communications Inc)

Determination of Applicable Interest Rate. As soon as practicable after 9:00 11:00 A.M. (Los Angeles time) on each Interest Rate Determination Date, Agent Bank shall determine (which determination shall, absent manifest error, be final, conclusive and binding upon all parties) the interest rate that shall apply to the LIBOR Rate Loans 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 Company and each LenderCompany.

Appears in 1 contract

Samples: Credit Agreement (Bell Industries Inc /New/)

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Determination of Applicable Interest Rate. As soon as practicable after 9:00 10:00 A.M. (Los Angeles San Francisco time) on each Interest Rate Determination Date, Administrative Agent shall determine (which determination shall, absent manifest error, be final, conclusive and binding upon all parties) the interest rate that shall apply to the LIBOR Rate Loans 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 Company and each Lender.

Appears in 1 contract

Samples: Credit Agreement (Cyrk Inc)

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