Interest Rate Changes. Each change in the Term Loan Interest Rate shall be effective on the effective date of the change in LIBOR. Agent shall use its best efforts to give Borrower prompt notice of any such change; provided, however, that any failure by Agent to provide Borrower with notice hereunder shall not affect Agent’s right to make changes in the applicable interest rate.
Appears in 1 contract
Sources: Loan and Security Agreement (Arcadia Biosciences, Inc.)
Interest Rate Changes. Each change in the Term Loan Interest Rate shall be effective on the effective date of the change in LIBOR. Agent shall use its best efforts to give Borrower prompt LSA – BioAmber notice of any such change; provided, however, that any failure by Agent to provide Borrower with notice hereunder shall not affect Agent’s right to make changes in the applicable interest rate.
Appears in 1 contract