Interest Option Sample Clauses

Interest Option. On the Second Closing Date, Borrowers shall choose to have the Term Loan accrue interest as a Base Rate Loan or a LIBOR Rate Loan (which, if chosen, also requires Borrowers to choose an Interest Period). In the case of the LIBOR Rate Loan, upon the expiration of an Interest Period, in the absence of a new Interest Period Notice submitted to Agent not less than three (3) Business Days prior to the end of such Interest Period (which shall set forth the new Interest Period or state that the LIBOR Rate Loan is being converted to a Base Rate Loan), the LIBOR Rate Loan then maturing shall be automatically continued at the then current LIBOR Rate for an additional Interest Period equal to the expired Interest Period; provided, however, that if the Term Loan Maturity Date would fall within such subsequent Interest Period, the LIBOR Rate Loan then maturing shall be automatically converted to a Base Rate Loan. At any time prior to the Term Loan Maturity Date, Borrowers may request to convert a Base Rate Loan to a LIBOR Rate Loan upon submission of a LIBOR Rate Notice to Agent at least three (3) Business Days prior to the effectiveness of such conversion.

Interest Option. (a) Borrower may elect that any of the Revolving Loans to be made hereunder shall be a Euro Rate Loan, to continue any existing Euro Rate Loan as a new Euro Rate Loan or to convert any Prime Rate Loan to a LIBOR Rate Loan, by giving irrevocable written notice of such election to Agent by 10:00 a.m. (New York City time) at least three (3) Business Days prior to the requested Commencement Date and, in the case of the continuation of any Euro Rate Loan, such continuation shall take place on the last day of the applicable LIBOR Period with respect to the Euro Rate Loan being so continued. Such notice of election shall be given to Agent in a Record from Borrower. Each such request for a Euro Rate Loan, or to continue or convert (in the case of a Prime Rate Loan) shall include the requested Commencement Date (which shall be a Business Day), the LIBOR Period selected and the amount of the Euro Rate Loan to be made or continued, or into which a Prime Rate Loan is to be converted (which shall be in a principal amount of not less than (x) in the case of Dollar Denominated Revolving Loans, $1,000,000 and integral multiples of $500,000 and (y) in the case of Euro Denominated Revolving Loan, €1,000,000 and integral multiples of €500,000). If no Default nor Event of Default has occurred and is continuing at such time, such Euro Rate Loan shall be made or continued, or such Prime Rate Loan shall be converted, on the requested Commencement Date. In no event shall there be more than ten (10) Euro Rate Loans in effect at any time. (b) If upon the expiration of any LIBOR Period applicable to a borrowing of Euro Rate Loans, the Borrower has failed to elect, or is not permitted to elect, a new LIBOR Period to be applicable to such Euro Rate Loans as provided above, the relevant Borrower shall be deemed to have elected (x) if LIBOR Rate Loans, to convert such LIBOR Rate Loans into Prime Rate Loans and (y) if Euro Denominated Revolving Loans, to select a one-month LIBOR Period for such Euro Denominated Revolving Loans, in any such case effective as of the expiration date of such current LIBOR Period. (c) The Agent shall not incur any liability to Borrower in acting upon notice referred to herein which Agent reasonably believes to have been given by a duly authorized officer or other person authorized to and on behalf of Borrower or for otherwise acting under Section 2.1(b) or otherwise herein.

Interest Option. Subject to the provisions hereof, Borrower shall have the option (an "Interest Option") of having designated portions of the unpaid principal balance of this Amended Note bear interest at a rate based upon the Adjusted LIBOR Rate or Prime Rate as provided in paragraph 3 hereof; provided, however, that the selection of the Adjusted LIBOR Rate for a particular Interest Period shall not be for less than $100,000.00 of unpaid principal or an integral multiple thereof. The Interest Option shall be exercised in the manner provided below: (i) At Time of Borrowing. Contemporaneously with each request for an advance by Borrower under Paragraph 9 herein, Borrower shall give Bank an Interest Notice indicating the initial Interest Option selected with respect to the principal balance of such advance.

Interest Option. Subject to the provisions hereof, Borrower shall have --------------- the option (an "Interest Option") of having designated portions of the unpaid --------------- principal balance of this Amended Note bear interest at a rate based upon the Adjusted LIBOR Rate or Prime Rate as provided in paragraph 3 hereof, provided, however, that the selection of the Adjusted LIBOR Rate for a particular Interest Period shall not be for less than $100,000.00 of unpaid principal or an integral multiple thereof. The Interest Option shall be exercised in the manner provided below:

Interest Option. ☐ SOFR Loan ☐ Base Rate Loan In connection with the Credit Event requested herein, Borrower hereby represents and warrants to the Agent for the benefit of the Lenders that: (a) No Event of Default or Unmatured Event of Default exists and is continuing on and as of the date hereof or will exist on the date of such requested Credit Event; and (b) Immediately before and after giving effect to such requested Credit Event, the Revolving Credit Facility Usage will not exceed the lesser of (x) the Maximum Revolver Amount and (y) the Borrowing Base on and as of the date of such Credit Event. The undersigned hereby certifies each and every matter contained herein to be true and correct. By: Name: Title: State Street Bank and Trust Company, not personally but as Trustee for the UAW Retiree Medical Benefits Trust (solely for the Benefit of the Ford Separate Retiree Account) $ 106,400,000 $ 12,941,280 $ 93,458,720 State Street Bank and Trust Company, not personally but as Trustee for the UAW Retiree Medical Benefits Trust (solely for the Benefit of the GM Separate Retiree Account) $ 175,350,000 $ 21,327,570 $ 154,022,430 State Street Bank and Trust Company, not personally but as Trustee for the UAW Retiree Medical Benefits Trust (solely for the Benefit of the Chrysler Separate Retiree Account) $ 68,250,000 $ 8,301,150 $ 59,948,850 ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Capital Advisors, L.P. $ 3,535,354 $ 430,000 $ 3,105,354 [DATE] City National Bank, as Agent ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ Attention: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ and ▇▇▇▇▇▇ ▇▇▇▇▇▇ Telephone: ▇▇▇-▇▇▇-▇▇▇▇ Fax: ▇▇▇-▇▇▇-▇▇▇▇ Email: ▇▇▇▇▇▇▇.▇▇▇▇▇▇▇▇▇@▇▇▇.▇▇▇ and ▇▇▇▇▇▇.▇▇▇▇▇▇@▇▇▇.▇▇▇ RE: That certain Credit Agreement dated as of February 25, 2022, entered into by and among ▇▇▇▇▇ ▇▇ 2021, INC., a Delaware corporation (“Borrower”), the lenders from time to time a 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”), and CITY NATIONAL BANK, a national banking association (“CNB”), as the administrative agent for the Lenders (in such capacity, together with its successors and assigns in such capacity, “Agent”) and as the lead arranger (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”). Ladies and Gentlemen: Borrower hereby requests that you approve the Investors listed on Exhibit A hereto as Approved New Investors u...

Interest Option. Except as provided in Section 2.12(b), interest shall be charged at the rate based upon the LMIR Rate.

Interest Option. Subject to the provisions hereof, Maker shall have the option (an “Interest Option”) to designate portions of the unpaid principal balance hereof to bear interest at a rate based upon the LIBOR Base Rate or WFB Base Rate as provided in paragraph 4 hereof; provided, however, that (i) in the case of selection of the WFB Base Rate, such advance shall not be less than $100,000 (or, if greater than $100,000 in integral multiples of $100,000) or (ii) in the case of the selection of the LIBOR Base Rate, the LIBOR Balance for a particular LIBOR Interest Period shall not be less than $500,000 (or, if greater than $500,000, in integral multiples of $100,000); provided further, however, that no more than five (5) LIBOR Balances shall be outstanding at any one time under this Note; provided further, however, that the sum of the aggregate amount of all LIBOR Balances and WFB Base Rate Balances outstanding under this Note shall at no time exceed the Total Commitment. The option of Maker to designate portions of the principal of this Note to bear interest at a rate based upon the LIBOR Base Rate or WFB Base Rate shall be exercised in the manner provided below:

Interest Option. The option, exercisable from time to time by the Borrower, to designate portions of the unpaid principal balance of Revolving Loans as Base Rate Loans or Eurodollar Loans.

Interest Option. ☐ LIBOR Rate Loan ☐ Base Rate Loan In connection with the Credit Event requested herein, Borrower hereby represents and warrants to the Agent for the benefit of the Lenders that: (a) No Event of Default or Unmatured Event of Default exists and is continuing on and as of the date hereof or will exist on the date of such requested Credit Event; and (b) Immediately before and after giving effect to such requested Credit Event, [the Revolving Credit Facility Usage under the Subscription Facility will not exceed the lesser of (x) the Maximum Revolver Amount applicable to the Subscription Facility and (y) the Borrowing Base on and as of the date of such Credit Event]8 [no mandatory prepayment will be required under Section 2.8(d) of the Credit Agreement]9. 8 NTD: Only include for a conversion or continuation of a Subscription Facility borrowing. 9 NTD: Only include for a conversion or continuation of a Treasury Facility borrowing. The undersigned hereby certifies each and every matter contained herein to be true and correct. By: Name: Title: [DATE] City National Bank, as Agent ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ Attention: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Telephone: ▇▇▇-▇▇▇-▇▇▇▇ Fax: ▇▇▇-▇▇▇-▇▇▇▇ Email: ▇▇▇▇▇▇▇.▇▇▇▇▇▇▇▇▇@▇▇▇.▇▇▇ RE: That certain Credit Agreement dated as of February 5, 2021, entered into by and among ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ BDC, INC., a Delaware corporation (“Borrower”), the lenders from time to time a 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”), and CITY NATIONAL BANK, a national banking association (“CNB”), as the administrative agent for the Lenders (in such capacity, together with its successors and assigns in such capacity, “Agent”) and as the lead arranger (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”). Ladies and Gentlemen: Borrower hereby requests that you approve the Investors listed on Exhibit A hereto as Approved New Investors under the Credit Agreement. Capitalized terms not defined herein shall have the meanings assigned to such terms in the Credit Agreement. Very truly yours, ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ BDC, INC. By: Name: Title: All Lenders hereby approve the Investors listed on Exhibit A hereto as Approved New Investors under the Credit Agreement effective _______________, 20___. By: Name: Title: [Add additional Lenders if needed...