Rate Election has the meaning given it in Section 2.4.
Rate Election has the meaning given in Section 2.6. -------------
Rate Election shall have the meaning set forth in Subsection 2.6.3 hereof.
Examples of Rate Election in a sentence
Each Interest Period specified in a Notice of Interest Rate Election shall comply with the provisions of the definition of Interest Period.
The resulting amount shall be divided by 360 and multiplied by the number of days remaining in the term chosen pursuant to the Fixed Rate Election as to which the prepayment is made.
Said amount shall be reduced to present value calculated by using the above referenced United States Treasury securities rate and the number of days remaining in the term chosen pursuant to the Fixed Rate Election as to which prepayment is made.
The Administrative Agent shall provide the Lenders and the L/C Issuer with prompt notice of its receipt of any Interest Rate Election.
The resulting amount shall be divided by 360 and multiplied by the number of days remaining in the term chosen pursuant to the LIBOR Rate Election as to which the prepayment is made.
More Definitions of Rate Election
Rate Election has the meaning given such term in Section 2.09 below.
Rate Election. Rate Election" shall have the meaning set forth in ------------- Sections 2.6.2 and 2.6.3 hereof. -------------- ----- Rate Management Transaction. "Rate Management Transaction" means any --------------------------- transaction (including an agreement with respect thereto) now existing or hereafter entered into between Borrower and the Bank, or any Affiliate of the Bank, which is a rate swap, basis swap, forward rate transaction, commodity swap, commodity option, equity or equity index swap, equity or equity index option, bond option, interest rate option, foreign exchange transaction, cap transaction, floor transaction, collar transaction, forward transaction, currency swap transaction, cross-currency rate swap transaction, currency option or any other similar transaction (including any option with respect to any of these transactions) or any combination thereof, whether linked to one or more interest rates, foreign currencies, commodity prices, equity prices or other financial measures.
Rate Election has the meaning given it in Section 2.9.
Rate Election. The term "Rate Election" means a completed rate election in the form of Exhibit "B" hereto.
Rate Election means a completed rate election in the form of Exhibit "B" hereto.
Rate Election means each election by Xxxxxxxx of a Fixed Rate Portion made in the form of a Rate Election attached as Exhibit 1 hereto, duly completed, and received by Bank not later than 10:00 a.m. Dallas, Texas time, two Business Days before the first day of the specified Interest Period. Pursuant to a Rate Election, Borrower may from time to time designate all or any portion of the loan as a Fixed Rate Portion; provided that without the consent of Bank Borrower may make no such election during the continuance of an Event of Default and that Borrower may make such an election with respect to an already existing Fixed Rate Portion only if such election will take effect at or after the termination of the Interest Period applicable to such already existing Fixed Rate Portion. Each Rate Election shall be irrevocable Borrower may make no Rate Election which does not specify an Interest Period complying with the definition of "Interest Period". Upon the termination of each Interest Period the portion of the Loan theretofore constituting the related Fixed Rate Portion shall, unless the subject of a new Rate Election then taking effect, automatically become a part of the Base Rate Portion and become subject to all provisions of the Loan Documents governing the Base Rate Portion. On each Quarterly Payment Date beginning December 31, 1996 and continuing regularly thereafter, Xxxxxxxx will make a mandatory payment of principal on the Loan in addition to the payment of the interest then due. This mandatory payment shall be equal to a percentage of the principal amount of the loan outstanding at December 31, 1996; the following table sets out such percentage for the Quarterly Payment Date for each calendar quarter in each of the following years: QUARTERLY PAYMENT DATE 1ST 2ND 3RD 4TH ------------ --- --- --- --- 1996 0.5% 1997 1.0% 2.0% 2.0% 2.0% 1998 2.0% 2.0% 2.5% 2.5% 1999 2.5% 2.5% 2.5% 3.0% 2000 3.0% 3.0% 3.0% 3.5% 2001 3.5% 3.5% 3.5% remaining principal and accrued interest due and payable in full
Rate Election has the meaning set forth in Subsection 2.5.3 hereof.