Form of LIBOR Notice Clause Samples

The 'Form of LIBOR Notice' clause defines the required format and content for notifying parties about the applicable LIBOR interest rate under a contract. Typically, this clause specifies who must send the notice, the timing of delivery, and the information that must be included, such as the relevant rate, calculation period, and any supporting details. By standardizing the notification process, this clause ensures all parties receive clear and consistent information about interest rate changes, reducing the risk of disputes or misunderstandings.
Form of LIBOR Notice. ▇▇▇▇▇ Fargo Capital Finance, LLC, as Agent under the below referenced Credit Agreement ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇ Suite 1600 Atlanta, Georgia 30328 Ladies and Gentlemen: Reference hereby is made to that certain Credit Agreement, dated as of , 2010 (the “Credit Agreement”), among Delek Refining, Ltd. a Texas limited partnership (“Borrower”), Delek Refining, Inc., a Delaware corporation, the lenders signatory thereto (the “Lenders”), and ▇▇▇▇▇ Fargo Capital Finance, LLC, a Delaware limited liability company, as the administrative agent for the Lenders (“Agent”). Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to them in the Credit Agreement. This LIBOR Notice represents Borrower’s request to elect the LIBOR Option with respect to outstanding Advances in the amount of $_____ (the “LIBOR Rate Advance”), and is a written confirmation of the telephonic notice of such election given to Agent. The LIBOR Rate Advance will have an Interest Period of [1, 2, or 3] month(s) commencing on . This LIBOR Notice further confirms Borrower’s acceptance, for purposes of determining the rate of interest based on the LIBOR Rate under the Credit Agreement, of the LIBOR Rate as determined pursuant to the Credit Agreement. Borrower represents and warrants that (i) as of the date hereof, each representation or warranty contained in or pursuant to any Loan Document or any agreement, instrument, certificate, document or other writing furnished at any time under or in connection with any Loan Document, and as of the effective date of any advance, continuation or conversion requested above, is true and correct in all material respects (except to the extent any representation or warranty expressly related to an earlier date), (ii) each of the covenants and agreements contained in any Loan Document have been performed (to the extent required to be performed on or before the date hereof or each such effective date), and (iii) no Default or Event of Default has occurred and is continuing on the date hereof, nor will any thereof occur after giving effect to the request above. Well Fargo Capital Finance, LLC, as Agent Page 2 Dated: DELEK REFINING, LTD., a Texas limited partnership, as Borrower By: Name: Title: Acknowledged by: ▇▇▇▇▇ FARGO CAPITAL FINANCE, LLC, a Delaware limited liability company, as Agent By: Name: Title: As used in the Agreement, the following terms shall have the following definitions:
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Form of LIBOR Notice. Schedule E-1...............Eligible Inventory Locations Schedule P-1...............Permitted Liens Schedule 2.7(a)............Cash Management Banks Schedule 5.5...............Locations of Inventory and Equipment Schedule 5.8(b)............Capitalization of Borrower Schedule 5.8(c)............Capitalization of Borrower's Subsidiaries Schedule 5.10..............Litigation Schedule 5.10(b)...........Commercial Tort Claims Schedule 5.14..............Environmental Matters Schedule 5.16..............Intellectual Property Schedule 5.18..............Demand Deposit Accounts Schedule 5.19..............Credit Card Receipts Schedule 5.20..............
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Form of LIBOR Notice. Schedule C-1. . . . . . . . Commitments Schedule D-1. . . . . .
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Form of LIBOR Notice. ▇▇▇▇▇ Fargo Foothill, LLC
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Form of LIBOR Notice. FORM OF LIBOR NOTICE Lender Revolver Commitment Total Commitment
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Form of LIBOR Notice. ▇▇▇▇▇ Fargo Bank, N.A., as Agent ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇, Suite 2200 Chicago, Illinois 60606 Attention: ▇▇▇▇▇▇▇▇ Brands – Account Manager Fax No.: (▇▇▇) ▇▇▇-▇▇▇▇ Ladies and Gentlemen: Reference is hereby made to that certain Credit Agreement, dated as of February 5, 2013 (as amended, restated, supplemented, or modified from time to time, the "Credit Agreement"), by and among the lenders party thereto (such lenders, together with their respective successors and assigns, are referred to hereinafter each individually as a "Lender" and collectively as the "Lenders"), ▇▇▇▇▇ FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as agent for the Lenders (together with its successors and assigns in such capacity, "Agent"), ▇▇▇▇▇▇▇▇ BRANDS INTERNATIONAL, INC., a New Jersey corporation ("Parent"), ▇▇▇▇▇▇▇▇ BRANDS L.L.C., a Delaware limited liability company ("▇▇▇▇▇▇▇▇ Brands"), ▇▇▇▇▇▇▇▇ FRESH NORTH AMERICA L.L.C., a Delaware limited liability company ("▇▇▇▇▇▇▇▇ Fresh"), FRESH INTERNATIONAL CORP., a Delaware corporation ("Fresh International"), FRESH EXPRESS INCORPORATED, a Delaware corporation ("Fresh Express"), B C SYSTEMS, INC., a Delaware corporation ("BC Systems"), VERDELLI FARMS INC., a Pennsylvania corporation ("Verdelli"), TRANSFRESH CORPORATION, a Delaware corporation ("TransFresh") and CB CONTAINERS, INC., a Delaware corporation ("CB Containers"), and V.F. TRANSPORTATION, L.L.C., a Pennsylvania limited liability company ("VF Transportation"; together with ▇▇▇▇▇▇▇▇ Brands, ▇▇▇▇▇▇▇▇ Fresh, Fresh International, Fresh Express, BC Systems, Verdelli, TransFresh and CB Containers. Capitalized terms used herein but not specifically defined herein shall have the meanings ascribed to them in the Credit Agreement. This LIBOR Notice represents Administrative Borrower's request (on behalf of itself and each additional Borrower) to elect the LIBOR Option with respect to outstanding Revolving Loans in the amount of $________ (the "LIBOR Rate Loan")[, and is a written confirmation of the telephonic notice of such election given to Agent]. The LIBOR Rate Advance will have an Interest Period of [1, 2, [or] 3[, or 6]] month(s) commencing on ______________. This LIBOR Notice further confirms Borrowers' acceptance, for purposes of determining the rate of interest based on the LIBOR Rate under the Credit Agreement, of the LIBOR Rate as determined pursuant to the Credit Agreement. Administrative Borrower represents and warrants that (i) as of the date hereof, the repre...
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Form of LIBOR Notice. W▇▇▇▇ Fargo Bank, National Association, as Agent under the below referenced Credit Agreement 1▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇, Suite 1600
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Related to Form of LIBOR Notice

  • Notification of LIBOR On each LIBOR Determination Date, the Indenture Trustee will send to the Servicer, the Issuer and the Administrator by facsimile transmission, notification of LIBOR for the following Interest Period.

  • LIBOR Notification Section 3.8(b) of this Agreement provides a mechanism for determining an alternative rate of interest in the event that the London interbank offered rate is no longer available or in certain other circumstances. The Agent does not warrant or accept any responsibility for and shall not have any liability with respect to, the administration, submission or any other matter related to the London interbank offered rate or other rates in the definition of “LIBOR Rate” or with respect to any alternative or successor rate thereto, or replacement rate therefor.

  • Interest Rates; LIBOR Notification The interest rate on Eurodollar Loans is determined by reference to the LIBO Rate, which is derived from the London interbank offered rate. The London interbank offered rate is intended to represent the rate at which contributing banks may obtain short-term borrowings from each other in the London interbank market. In July 2017, the U.K. Financial Conduct Authority announced that, after the end of 2021, it would no longer persuade or compel contributing banks to make rate submissions to the ICE Benchmark Administration (together with any successor to the ICE Benchmark Administrator, the “IBA”) for purposes of the IBA setting the London interbank offered rate. As a result, it is possible that commencing in 2022, the London interbank offered rate may no longer be available or may no longer be deemed an appropriate reference rate upon which to determine the interest rate on Eurodollar Loans. In light of this eventuality, public and private sector industry initiatives are currently underway to identify new or alternative reference rates to be used in place of the London interbank offered rate. In the event that the London interbank offered rate is no longer available or in certain other circumstances as set forth in Section 2.14(c) of this Agreement, such Section 2.14(c) provides a mechanism for determining an alternative rate of interest. The Administrative Agent will notify the Borrower, pursuant to Section 2.14, in advance of any change to the reference rate upon which the interest rate on Eurodollar Loans is based. However, the Administrative Agent does not warrant or accept any responsibility for, and shall not have any liability with respect to, the administration, submission or any other matter related to the London interbank offered rate or other rates in the definition of “LIBO Rate” or with respect to any alternative or successor rate thereto, or replacement rate thereof, including without limitation, whether the composition or characteristics of any such alternative, successor or replacement reference rate, as it may or may not be adjusted pursuant to Section 2.14(c), will be similar to, or produce the same value or economic equivalence of, the LIBO Rate or have the same volume or liquidity as did the London interbank offered rate prior to its discontinuance or unavailability.

  • Determination of LIBOR (a) On each LIBOR Determination Date, the Trustee will determine LIBOR for the related Interest Accrual Period, which shall be the rate for deposits in United States dollars for a period equal to one month (commencing on the first day of such Interest Accrual Period) that appears on Reuters Screen LIBOR01 Page as of 11:00 a.m., London time, on such date. Upon such determination, the Trustee shall notify the Servicer of LIBOR for such LIBOR Determination Date. If such rate does not appear on Reuters Screen LIBOR01 Page, the rate for the LIBOR Determination Date will be determined on the basis of the rates at which deposits in United States dollars are offered by the Reference Banks at approximately 11:00 a.m., London time, on that day to prime banks in the London interbank market for a period equal to one month (commencing on the first day of such Interest Accrual Period). The Servicer will request the principal London office of each of the Reference Banks to provide a quotation of its rate. If at least two such quotations are provided, the rate for that LIBOR Determination Date will be the arithmetic mean of the quotations. If fewer than two quotations are provided as requested, the rate for that LIBOR Determination Date will be the arithmetic mean of the rates quoted by major banks in New York City, selected by the Servicer, at approximately 11:00 a.m., New York City time, on that day for loans in United States dollars to leading European banks for a period equal to one month (commencing on the first day of such Interest Accrual Period). If the banks selected by the Servicer are not quoting rates as provided in the immediately preceding sentence, LIBOR for such Interest Accrual Period will be LIBOR in effect for the immediately preceding Interest Accrual Period. (b) The Servicer shall determine, and promptly notify the Transferors and the Trustee of, the Class A Certificate Rate and the Class B Certificate Rate for the applicable Interest Accrual Period. The Class A Certificate Rate and Class B Certificate Rate applicable to the then current and the immediately preceding Interest Accrual Periods may be obtained by any Investor Certificateholder by telephoning the Trustee at its Corporate Trust Office at (▇▇▇) ▇▇▇-▇▇▇▇. (c) On each LIBOR Determination Date prior to 3:00 p.m., New York City time, the Trustee shall send to the Transferors and the Servicer by facsimile, notification of LIBOR for the following Interest Accrual Period.

  • Suspension of LIBOR Loans Anything herein to the contrary notwithstanding, if, on or prior to the determination of LIBOR for any Interest Period: (a) the Administrative Agent reasonably determines (which determination shall be conclusive) that quotations of interest rates for the relevant deposits referred to in the definition of LIBOR are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for LIBOR Loans as provided herein or is otherwise unable to determine LIBOR; or (b) the Administrative Agent reasonably determines (which determination shall be conclusive) that the relevant rates of interest referred to in the definition of LIBOR upon the basis of which the rate of interest for LIBOR Loans for such Interest Period is to be determined are not likely to adequately cover the cost to any Lender of making or maintaining LIBOR Loans for such Interest Period; then the Administrative Agent shall give the Borrower and each Lender prompt notice thereof and, so long as such condition remains in effect, the Lenders shall be under no obligation to, and shall not, make additional LIBOR Loans, Continue LIBOR Loans or Convert Loans into LIBOR Loans and the Borrower shall, on the last day of each current Interest Period for each outstanding LIBOR Loan, either prepay such Loan or Convert such Loan into a Base Rate Loan.