Election of Interest Rate Sample Clauses

Election of Interest Rate. (i) The Borrower shall elect to pay interest on the Loan at the Fixed Rate or the Floating Rate, after which such elected interest rate shall apply to the Loan.
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Election of Interest Rate. Subject to the provisions of Section 6.04 (Additional Provisions Concerning Certain Loans) below, the Borrower may elect the interest rate applicable to each Revolving Credit Loan as follows:
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Election of Interest Rate. Interest shall accrue on the unpaid principal balance of a Loan Advance from time to time outstanding at Borrower’s election of either:
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Election of Interest Rate. Prior to the first Advance on the Note, the Borrower must select in writing one of the following interest rates: (i) a CFC Fixed Rate; or (ii) the CFC Variable Rate. Interest shall be computed for the actual number of days elapsed on the basis of a year of 365 days, until the first day of the complete calendar quarter following the Amortization Basis Date. Thereafter, if the loan bears interest at a CFC Fixed Rate, interest shall be computed on the basis of a 30-day month and 360-day year. If the loan bears interest at the CFC Variable Rate, interest shall be computed for the actual number of days elapsed on the basis of a year of 365 days.
Sample 1
Election of Interest Rate. Distribution of Funds to Lenders 99 ARTICLE IX GENERAL CONDITIONS 99 SECTION 9.1. Indemnity 99 SECTION 9.2. No Waivers 102 SECTION 9.3. Submission of Evidence 102 SECTION 9.4. Agent and Lenders Sole Beneficiaries 102 SECTION 9.5. Entire Agreement 102 SECTION 9.6. Assignment 102 SECTION 9.7. Further Assurances; Filing of Financing Statements 102 SECTION 9.8. Cumulative Remedies 103 SECTION 9.9. Amendments, Consents, Waivers, Approvals, Etc. 103 SECTION 9.10. Notices 103 SECTION 9.11. Limitation on Liability 104 SECTION 9.12. Binding Effect 106 SECTION 9.13. Severability of Provisions 106 SECTION 9.14. Governing Law and Consent to Jurisdiction 106 SECTION 9.15. Waiver of Jury Trial 106 SECTION 9.16. No Joint Venture 106 SECTION 9.17. Determinations and Consents of Agent 107 SECTION 9.18. Reliance by Agent on Action on Behalf of Borrower 107 SECTION 9.19. Headings, Etc. 107 SECTION 9.20. Incorporation by Reference 107 SECTION 9.21. Counterparts 107 SECTION 9.22. Attorneys’ Fees 107 62528184 iv Page SECTION 9.23. Employer Identification Number Etc 108 SECTION 9.24. Joint and Several Liability 108 SECTION 9.25. Waiver of Consequential Damages Etc. 109 62528184 v Exhibits and Schedules Exhibit A: The Land Exhibit B: Intentionally Omitted Exhibit C: Reports Exhibit D: Form of FF&E/Capital Disbursement Request Exhibit E: Definition of Special Purpose Bankruptcy Remote Entity Exhibit F: Agent Wiring Instructions Exhibit G: Form of Assignment of Interest Rate Protection Agreement Schedule 4.5: Schedule of Disclosed Litigation Schedule 4.11: Schedule of Accounts Schedule 4.36: Lease Disclosures Schedule 5.11: Schedule of Insurance Policies and Requirements Schedule 7.5: Form of Assignment and Acceptance 62528184 vi LOAN AGREEMENT This LOAN AGREEMENT (this “Loan Agreement”) dated as of March 9, 2015, by and among ASHFORD PIER HOUSE LP, a Delaware limited partnership having an office at 00000 Xxxxxx Xxxxxxx, Xxxxx 0000, Xxxxxx, Xxxxx 00000 (“Borrower”), ASHFORD TRS PIER HOUSE LLC, a Delaware limited liability company having an office at 00000 Xxxxxx Xxxxxxx, Xxxxx 0000, Xxxxxx, Xxxxx 00000 (“Operating Lessee”), THE LENDERS PARTY HERETO FROM TIME TO TIME (together with their respective successors and assigns in their capacities as lenders, including any Assignees (as hereinafter defined) hereunder, each a “Lender” and collectively “Lenders”), and CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK, a banking corporation organized under the laws of the Republic of France, havi...
Sample 1
Election of Interest Rate. For each loan and prior to the first Advance or as appropriate after the first Advance, the Borrower must select in writing one of the following interest rates: (i) the CFC Standard Seven Year Fixed Rate; (ii) a CFC Fixed Rate; or (iii) the CFC Variable Rate. In the event the Borrower does not select an interest rate in writing when the CFC Standard Seven Year Fixed Rate or a CFC Fixed Rate is subject to repricing, then Advances shall bear interest according to CFC's then available interest rate repricing policies. Interest shall be computed for the actual number of days elapsed on the basis of a year of 365 days, until the first day of the complete calendar quarter following the Amortization Basis Date. Thereafter, if the loan bears interest at either the CFC Standard Seven Year Fixed Interest Rate or a CFC Fixed Rate, interest shall be computed on the basis of a 30-day month and 360-day year. If the loan bears interest at the CFC Variable Rate, interest shall be computed for the actual number of days elapsed on the basis of a year of 365 days.
Sample 1

Related to Election of Interest Rate

  • Determination of Interest Rate (a) The Applicable Interest Rate with respect to the Loan shall be: (i) LIBOR plus the Spread with respect to the applicable Interest Period for a LIBOR Loan or (ii) the Prime Rate plus the Prime Rate Spread for a Prime Rate Loan if the Loan is converted to a Prime Rate Loan pursuant to the provisions of Section 2.2.3(c) or Section 2.2.3(f).

  • Notification of Interest Periods and interest rate The Agent shall notify the Borrowers and the Banks promptly of the duration of each Interest Period and of each rate of interest (or, as the case may be default interest) determined by it under this clause 3.

  • Selection of Interest Rate Options At any time any portion of this Note bears interest determined in relation to LIBOR, it may be continued by Borrower at the end of the Fixed Rate Term applicable thereto so that all or a portion thereof bears interest determined in relation to the Prime Rate or to LIBOR for a new Fixed Rate Term designated by Borrower. At any time any portion of this Note bears interest determined in relation to the Prime Rate, Borrower may convert all or a portion thereof so that it bears interest determined in relation to LIBOR for a Fixed Rate Term designated by Borrower. At such time as Borrower requests an advance hereunder or wishes to select a LIBOR option for all or a portion of the outstanding principal balance hereof, and at the end of each Fixed Rate Term, Borrower shall give Bank notice specifying: (i) the interest rate option selected by Borrower; (ii) the principal amount subject thereto; and (iii) for each LIBOR selection, the length of the applicable Fixed Rate Term. Any such notice may be given by telephone (or such other electronic method as Bank may permit) so long as, with respect to each LIBOR selection, (A) if requested by Bank, Borrower provides to Bank written confirmation thereof not later than three (3) Business Days after such notice is given, and (B) such notice is given to Bank prior to 10:00 a.m. on the first day of the Fixed Rate Term, or at a later time during any Business Day if Bank, at it’s sole option but without obligation to do so, accepts Borrower’s notice and quotes a fixed rate to Borrower. If Borrower does not immediately accept a fixed rate when quoted by Bank, the quoted rate shall expire and any subsequent LIBOR request from Borrower shall be subject to a redetermination by Bank of the applicable fixed rate. If no specific designation of interest is made at the time any advance is requested hereunder or at the end of any Fixed Rate Term, Borrower shall be deemed to have made a Prime Rate interest selection for such advance or the principal amount to which such Fixed Rate Term applied.

  • Calculation of interest The rate of interest on each Loan for each Interest Period is the percentage rate per annum which is the aggregate of the applicable:

  • Determination of Interest (a) The Administrative Agent shall determine the Interest (including unpaid Interest related thereto, if any, due and payable on a prior Payment Date) to be paid by the Borrower on each Payment Date for the related Accrual Period and shall advise the Collateral Agent, the Collateral Manager and the Borrower thereof on the third Business Day prior to such Payment Date.

  • Computation of Interest Except as otherwise specified as contemplated by Section 301 for Securities of any series, interest on the Securities of each series shall be computed on the basis of a 360-day year of twelve 30-day months.

  • Determination of Interest Periods Every Interest Period shall be of the duration specified by the Borrowers pursuant to clause 3.2 but so that:

  • Computation of Interest, Fees, Yield Protection All interest, as well as fees and other charges calculated on a per annum basis, shall be computed for the actual days elapsed, based on a year of 360 days. Each determination by Agent of any interest, fees or interest rate hereunder shall be final, conclusive and binding for all purposes, absent manifest error. All fees shall be fully earned when due and shall not be subject to rebate, refund or proration. All fees payable under Section 3.2 are compensation for services and are not, and shall not be deemed to be, interest or any other charge for the use, forbearance or detention of money. A certificate as to amounts payable by Borrowers under Section 3.4, 3.6, 3.7, 3.9 or 5.9, submitted to Borrower Agent by Agent or the affected Lender, as applicable, shall be final, conclusive and binding for all purposes, absent manifest error, and Borrowers shall pay such amounts to the appropriate party within 10 days following receipt of the certificate.

  • Determination of Interest Rate Basis The Calculation Agent shall determine the rate derived from each Interest Rate Basis in accordance with the following provisions.

  • Section 310 Computation of Interest Except as otherwise specified as contemplated by Section 301 for Securities of any series, interest on the Securities of each series shall be computed on the basis of a 360-day year of twelve 30-day months.

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