Examples of Interest Rate Election Date in a sentence
Any such facility fee for the quarter in which Interest Rate Election Date (if any) occurs shall be prorated according to the number of days remaining in such quarter.
Such facility fee shall be payable quarterly in arrears on the last day of each March, June, September, and December in each year (commencing on the first such date occurring after the Interest Rate Election Date (if any)) and on the Revolving Credit Termination Date, unless the Revolving Credit Commitments are terminated in whole on an earlier date, in which event the facility fee for the period to the date of such termination in whole shall be paid on the date of such termination.
Commencing on the first day following the Interest Rate Election Date (if any), the Borrower shall pay to the Administrative Agent for the ratable account of the Lenders in accordance with their Revolver Percentages a facility fee at the rate per annum equal to the Applicable Margin (computed on the basis of a year of 360 days and the actual number of days elapsed) on the average daily Revolving Credit Commitments, whether or not in use.
Any such commitment fee for the first quarter following Closing Date or the quarter in which Interest Rate Election Date (if any) occurs shall be prorated according to the number of days this Agreement was in effect during such quarter.
Each Interest Rate Notice, Notice of Borrowing or request for a Letter of Credit (as the case may be) submitted by the Borrower hereunder shall constitute a representation and warranty by the Borrower hereunder, as of the date of each such notice and as of each Interest Rate Election Date, as applicable, that the conditions in this Section 5.2 are satisfied.
Any such commitment fee for the first quarter following the Closing Date or the quarter in which Interest Rate Election Date (if any) occurs shall be prorated according to the number of days this Agreement was in effect during such quarter.
However, this hypothesis does raise the issue of the interplay between modern and traditional forces.
If Borrower fails so to advise Bank in writing of its Rate Election on or before the applicable Interest Rate Election Date then, during the next following Interest Period, all interest shall accrue on the outstanding Principal Balance, or such portion thereof for which a Rate Election has not been designated by such Interest Rate Election Date, at the LIBOR Interest Rate based upon a "one-day" LIBOR Rate.
Interest Rate Election Date: means a date in each calendar month which is one (1) business day before the commencement of the next succeeding Interest Period.
Other monetary liabilities34.411.3733.811.6551.654.21810.394-17.462.9894.415.666178.837--12b.