Fixed Rate Setting Sample Clauses
The Fixed Rate Setting clause establishes a predetermined interest rate or payment rate that will apply to a financial agreement or contract. In practice, this clause specifies the exact rate to be used, the period during which it is effective, and the method for applying it to relevant payments or obligations. For example, it may set a fixed interest rate for a loan or a fixed price for a service over a defined term. The core function of this clause is to provide certainty and predictability for both parties by eliminating the risk of rate fluctuations during the specified period.
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Fixed Rate Setting. The Borrower may notify the Loan Participants of its request, pursuant to the Notice of Borrowing in respect of any Designated Aircraft, for a particular Class of Loans in respect of such Designated Aircraft to bear interest at a Fixed Rate, which Fixed Rate shall be fixed two Business Days prior to the Funding Date for such Aircraft (the “Swap Effective Date”). Upon delivery by the Borrower of the Notice of Borrowing relating to any Fixed Rate Loans of a particular Series and Class to the relevant Agent and Loan Participants, the following procedures shall apply to determine the “Fixed Rate” for such Loans of such Series and Class:
Fixed Rate Setting. The Borrower may notify the Loan Participants of its request, pursuant to the Notice of Borrowing or at any time before the date that is six months after the Funding Date, for the Loan in respect of the Designated Aircraft to bear interest at a fixed rate (a “Fixed Rate Notice”), which Fixed Rate (as [**] — Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. defined below) shall be fixed two Business Days prior to its effective date (the “Hedge Effective Date”). Upon delivery by the Borrower of a Fixed Rate Notice to the Loan Participants, the following procedures shall apply to determine the “Fixed Rate”:
(1) In the case of a Fixed Rate Notice delivered pursuant to the Notice of Borrowing, no later than 10:00 a.m. (but no earlier than 9:00 a.m.) New York time on the second Business Day prior to the Funding Date, the Loan Participants and the Borrower shall convene a conference call during which the Loan Participants will notify the Borrower of a single fixed rate of interest (without giving effect to the Applicable Margin) to be used as the basis for the calculation of the Fixed Rate for the Loan; such rate, and any other such interest rate quoted by the Loan Participants pursuant to this Section 3(b)(ii)(1) being referred to as a “Rate Quote”. Each Rate Quote shall be agreed to by each Loan Participant and shall be quoted on a market basis as the fixed rate equivalent (calculated on a bond basis) of the Loan had the Loan been priced on the basis of the LIBOR Rate (flat) (giving effect to the anticipated amortization, maturity and Hedge Effective Date of such Loan). The Borrower may accept or reject any such Rate Quote. If the Borrower rejects the Rate Quote, the Loan will initially bear interest at the Floating Rate. If the Borrower accepts such Rate Quote, the Loan Participants will advise as whether such Rate Quote is still available. If the Loan Parties advise that it is still available, then such Rate Quote shall serve as the basis for establishing the Fixed Rate. If such Rate Quote is not available any longer, at the request of the Borrower, the Loan Participants will furnish another Rate Quote and the above procedures will be utilized until a Rate Quote has been rejected or an accepted Rate Quote is determined by the Loan Participants to be available; provided that the Loan Participants shall not be obligated to quo...
Fixed Rate Setting. The Owner (acting at the direction of the Lessee) may notify the Junior Purchasers of its request, pursuant to the Notice of Issuance in respect of any Designated Aircraft, for the Junior Notes in respect of such Designated Aircraft to bear interest at a Fixed Rate, which Fixed Rate shall be fixed two Business Days prior to the Issuance Date for such Aircraft (the “Swap Effective Date”). Upon delivery by the Owner of the Notice of Issuance relating to any Fixed Rate Notes of a particular Series to the Junior Agent and Junior Purchasers, the following procedures shall apply to determine the “Fixed Rate” for such Series of Junior Notes:
Fixed Rate Setting. The Borrower may notify the Senior Loan Participants of its request, pursuant to the Notice of Borrowing, for the Senior Loans to bear interest at a Fixed Rate, which Fixed Rate shall be fixed two Business Days prior to the Funding Date (the “Swap Effective Date”). Upon delivery by the Borrower of the Notice of Borrowing relating to any Fixed Rate Loans to the Senior Agent and Senior Loan Participants, the following procedures shall apply to determine the “Fixed Rate” for such Senior Loans:
Fixed Rate Setting. The Borrower may notify the Tranche A Loan Participants of its request, pursuant to the Notice of Borrowing, for the Tranche A Loans to bear interest at a Fixed Rate, which Fixed Rate shall be fixed two Business Days prior to the Funding Date (the “Swap Effective Date”). Upon delivery by the Borrower of the Notice of Borrowing relating to any Fixed Rate Loans to the Administrative Agent and Tranche A Loan Participants, the following procedures shall apply to determine the “Fixed Rate” for such Tranche A Loans:
Fixed Rate Setting. The Owner (acting at the direction of the Lessee) may notify the Junior Purchasers of its request, pursuant to the Notice of Issuance, for the Junior Notes to bear interest at a Fixed Rate, which Fixed Rate shall be fixed two Business Days prior to the Issuance Date (the “Swap Effective Date”). Upon delivery by the Owner of the Notice of Issuance relating to any Fixed Rate Notes to the Junior Agent and Junior Purchasers, the following procedures shall apply to determine the “Fixed Rate” for the Junior Notes: