Examples of Notice of Rate Election in a sentence
Bank may rely on, and act without liability upon the basis of, any written notice believed by Bank in good faith to be given to, or received from Borrower (including telephonic Notice of Rate Election or Notice of Borrowing), whether or not Bank subsequently receives from Borrower confirmation thereof.
A Notice of Borrowing or a Notice of Rate Election for an Adjusted LIBOR Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Borrower shall be bound to make, continue or convert to an Adjusted LIBOR Loan in accordance therewith.
Cash Advances may be continued as or converted into another Interest Rate Option in the manner provided in Section 2.4.2 hereof upon the submission to Bank of a properly completed and executed Notice of Rate Election.
Advances may be continued as or converted into Adjusted LIBOR Loans in the manner provided in Section 2.2.3 hereof upon the submission to Agent of a properly completed and executed Notice of Rate Election.
During the term of the Term Loan, Borrowers may request, by submitting to Bank a Notice of Rate Election, to change or continue the Interest Rate Option on all or a portion of the Term Loan to a rate based on the applicable Base Rate, Adjusted LIBOR, or the Fixed Rate.
The applicable basis for determining the Interest Rate Option with respect to each Revolving Credit Loan shall be selected by Borrowers at the time a Notice of Borrowing or Notice of Rate Election is given pursuant to Sections 2.4.1 and 2.4.2 hereof.
Borrowers shall deliver such Notice of Rate Election: (i) with respect to Base Rate Loans and Fixed Rate Loans, at least one Business Day in advance of the proposed change or continuation, and (ii) with respect to Adjusted LIBOR Loans, no later than 11:00 A.M. (Philadelphia time) at least three London Business Days in advance of the proposed change or continuation.
A Notice of Borrowing or a Notice of Rate Election for a LIBOR Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Borrower and Lender shall be bound to make, continue or convert an Advance in accordance therewith.
The applicable basis for determining the Interest Rate Option with respect to each Line of Credit Loan shall be selected by Borrowers at the time a Notice of Borrowing or Notice of Rate Election is given pursuant to Sections 2.4.1 and 2.4.2 hereof.
The applicable basis for determining the rate(s) of interest payable hereunder shall be selected by Borrower at the time a Notice of Rate Election is given pursuant to Section 2.2.2 of the 1994 Loan Agreement, except that Fixed Term Rates shall be determined in accordance with Section 2.1.3 of the First Amendment.