Common use of Method of Selecting Rate Options and Interest Periods for Ratable Advances Clause in Contracts

Method of Selecting Rate Options and Interest Periods for Ratable Advances. The Borrower shall select, with respect to each Facility, the Rate Option and, in the case of each Fixed Rate Advance, the Interest Period applicable thereto, from time to time. The Borrower shall give the Administrative Agent irrevocable notice (a “Ratable Borrowing Notice”) not later than 11:00 a.m. (New York time) (or 11:15 a.m. (New York time) if applicable under the next succeeding sentence), (x) on the Borrowing Date of each Floating Rate Advance, (y) at least one Business Day prior to the Borrowing Date of each Fixed CD Rate Advance and (z) at least three Business Days prior to the Borrowing Date of each Eurodollar Ratable Advance. The time for delivery of a Ratable Borrowing Notice for a Floating Rate Advance under the Revolving Credit Facility shall be extended by 15 minutes if the day on which such Ratable Borrowing Notice is given is also a day on which the Borrower is required to accept or reject one or more bids offered in connection with an Absolute Rate Auction pursuant to Section 2.3.6, and the time for delivery of a Ratable Borrowing Notice for a Eurodollar Ratable Advance under the Revolving Credit Facility shall be extended by 15 minutes if the day on which such Ratable Borrowing Notice is given is also a day on which the Borrower is required to accept or reject one or more bids offered in connection with a Eurodollar Auction pursuant to Section 2.3.6. A Ratable Borrowing Notice shall specify:

Appears in 2 contracts

Samples: Credit Agreement (Toll Brothers Inc), Credit Agreement (Toll Brothers Inc)

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Method of Selecting Rate Options and Interest Periods for Ratable Advances. The Borrower shall select, with respect to each Facility, select the Rate Option and, in the case of each Fixed Rate Advance, the Interest Period applicable thereto, from time to time. The Borrower shall give the Administrative Agent irrevocable notice (a "Ratable Borrowing Notice') not later than 11:00 10:00 a.m. (New York Chicago time) (or 11:15 10:15 a.m. (New York Chicago time) if applicable under the next succeeding sentence), (x) on the Borrowing Date of each Floating Rate Advance, (y) at least one Business Day prior to the Borrowing Date of each Fixed CD Rate Advance and (z) at least three Business Days prior to the Borrowing Date of each Eurodollar Ratable Advance. The time for delivery of a Ratable Borrowing Notice for a Floating Rate Advance under the Revolving Credit Facility shall be extended by 15 minutes if the day on which such Ratable Borrowing Notice is given is also a day on which the Borrower is required to accept or reject one or more bids offered in connection with an Absolute Rate Auction pursuant to Section 2.3.6, and the time for delivery of a Ratable Borrowing Notice for a Eurodollar Ratable Advance under the Revolving Credit Facility shall be extended by 15 minutes if the day on which such Ratable Borrowing Notice is given is also a day on which the Borrower is required to accept or reject one or more bids offered in connection with a Eurodollar Auction pursuant to Section 2.3.6. A Ratable Borrowing Notice shall specify:: (i) the Borrowing Date, which shall be a Business Day, of such Ratable Advance; (ii) the aggregate amount of such Ratable Advance; (iii) the Rate Option selected for such Ratable Advance; and (iv) in the case of each Fixed Ratable Advance, the Interest Period applicable thereto (which shall be subject to the limitations set forth in Section 2.2.6). 2.2.4.

Appears in 1 contract

Samples: Credit Agreement (Toll Brothers Inc)

Method of Selecting Rate Options and Interest Periods for Ratable Advances. The Borrower shall select, with respect to each Facility, select the Rate Option and, in the case of each Fixed Rate Advance, the Interest Period applicable thereto, from time to time. The Borrower shall give the Administrative Agent irrevocable notice (a "Ratable Borrowing Notice') not later than 11:00 10:00 a.m. (New York Chicago time) (or 11:15 10:15 a.m. (New York Chicago time) if applicable under the next succeeding sentence), (x) on the Borrowing Date of each Floating Rate Advance, (y) at least one Business Day prior to the Borrowing Date of each Fixed CD Rate Advance and (z) at least three Business Days prior to the Borrowing Date of each Eurodollar Ratable Advance. The time for delivery of a Ratable Borrowing Notice for a Floating Rate Advance under the Revolving Credit Facility shall Advanceshall be extended by 15 minutes if the day on which such Ratable Borrowing Notice is given is also a day on which the Borrower is required to accept or reject one or more bids offered in connection with an Absolute Rate Auction pursuant to Section 2.3.6, and the time for delivery of a Ratable Borrowing Notice for a Eurodollar Ratable Advance under the Revolving Credit Facility shall be extended by 15 minutes if the day on which such Ratable Borrowing Notice is given is also a day on which the Borrower is required to accept or reject one or more bids offered in connection with a Eurodollar Auction pursuant to Section 2.3.6. A Ratable Borrowing Notice shall specify:

Appears in 1 contract

Samples: Credit Agreement (Toll Brothers Inc)

Method of Selecting Rate Options and Interest Periods for Ratable Advances. The Borrower shall select, with respect to each Facility, select the Rate Option and, in the case of each Fixed Rate Advance, the and Interest Period applicable thereto, to each Ratable Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in the form attached hereto as Exhibit G (a "Ratable Borrowing Notice") not later than 11:00 8:00 a.m. (New York San Francisco time) (or 11:15 a.m. (New York time) if applicable under the next succeeding sentence), (xa) on the Business Day preceding the Borrowing Date of each Floating Rate Advance, (yb) at least one three Business Day prior to Days before the Borrowing Date of each Fixed CD Rate Advance and (z) at least three Business Days prior to the Borrowing Date of for each Eurodollar Ratable Advance, and (c) four Business Days before the Borrowing Date for each Eurocurrency Advance. The time for delivery Notwithstanding anything herein to the contrary, Eurocurrency Advances shall be available only if the Eurocurrency requested is freely available to all of the Banks on the date the Company requests such Eurocurrency Advance. Notwithstanding the foregoing, a Ratable Borrowing Notice for a Floating Rate Advance under the Revolving Credit Facility shall may be extended by given not later than 15 minutes if after the day on which such Ratable Borrowing Notice is given is also a day on time which the Borrower Company is required to accept or reject one or more bids offered in connection with an Absolute Rate Auction pursuant to Section 2.3.6, 2.3.6 and the time for delivery of a Ratable Borrowing Notice for a Eurodollar Ratable Advance under the Revolving Credit Facility shall may be extended by given not later than 15 minutes if after the day on which such Ratable Borrowing Notice is given is also a day on which time the Borrower Company is required to accept or reject one or more bids offered in connection with a Eurodollar Auction pursuant to Section 2.3.6. A Ratable Borrowing Notice shall specify:: (i) the applicable Borrower; (ii) the Borrowing Date, which shall be a Business Day, of such Ratable Advance; (iii) the aggregate amount of such Ratable Advance; (iv) the Rate Option selected for such Ratable Advance; (v) In the case of each Eurocurrency Advance, the Eurocurrency requested; and (vi) in the case of each Fixed Rate Advance, the Interest Period applicable thereto (which may not end after the Revolving Credit Termination Date). 2.2.4.

Appears in 1 contract

Samples: Assignment Agreement (Nike Inc)

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Method of Selecting Rate Options and Interest Periods for Ratable Advances. The Borrower shall select, with respect to each Facility, select the Rate Option and, in the case of each Fixed Rate Advance, the Interest Period applicable thereto, from time to time. The Borrower shall give the Administrative Agent irrevocable notice (a "Ratable Borrowing Notice') not later than 11:00 10:00 a.m. (New York Chicago time) (or 11:15 10:15 a.m. (New York Chicago time) if applicable under the next succeeding sentence), (x) on the Borrowing Date of each Floating Rate Advance, (y) at least one Business Day prior to the Borrowing Date of each Fixed CD Rate Advance and (z) at least three Business Days prior to the Borrowing Date of each Eurodollar Ratable Advance. The time for delivery of a Ratable Borrowing Notice for a Floating Rate Advance under the Revolving Credit Facility shall be extended by 15 minutes if the day on which such Ratable Borrowing Notice is given is also a day on which the Borrower is required to accept or reject one or more bids offered in connection with an Absolute Rate Auction pursuant to Section 2.3.6, and the time for delivery of a Ratable Borrowing Notice for a Eurodollar Ratable Advance under the Revolving Credit Facility shall be extended by 15 minutes if the day on which such Ratable Borrowing Notice is given is also a day on which the Borrower is required to accept or reject one or more bids offered in connection with a Eurodollar Auction pursuant to Section 2.3.6. A Ratable Borrowing Notice shall specify:

Appears in 1 contract

Samples: Credit Agreement (Toll Brothers Inc)

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