Common use of Seller’s Re-election of the Pricing Rate Clause in Contracts

Seller’s Re-election of the Pricing Rate. If the Seller has elected the Balance Funded Rate for any Segment thereof, the Seller may thereafter elect that the Pricing Rate to be applied to such Segment instead be calculated by reference to the LIBOR Rate plus the LIBOR Margin by giving the Buyer telephonic notice not later than 10:00 a.m. on the effective date of such election, specifying the Business Day when such election is to become effective and confirming the telephonic notice in writing by not later than the close of business on the same day. Such election shall not change the calculation of Price Differential for any period prior to the specified effective date.

Seller’s Re-election of the Pricing Rate. If the Seller has elected the Balance Funded Rate for any Open Transaction or Segment thereof, the Seller may thereafter elect that the Pricing Rate to be applied to such Open Transaction or Segment instead be calculated by reference to the LIBOR Rate plus the LIBOR Margin by giving the Buyer Administrative Agent telephonic notice not later than 10:00 a.m. AM on the effective date of such election, specifying the Business Day when such election is to become effective and confirming the telephonic notice in writing by not later than the close of business on the same day. Such election shall not change the calculation of Price Differential for any period prior to the specified effective date.

Seller’s Re-election of the Pricing Rate. If the Seller has elected the Balance Funded Rate for any Segment thereof, the Seller may thereafter elect that the Pricing Rate to be applied to such Segment instead be calculated by reference to the LIBOR Rate plus the LIBOR Margin by giving the Buyer Agent telephonic notice not later than 10:00 a.m. on the effective date of such election, specifying the Business Day when such election is to become effective and confirming the telephonic notice in writing by not later than the close of business on the same day. Such election shall not change the calculation of Price Differential for any period prior to the specified effective date.