Interest rate option Sample Clauses
An interest rate option clause gives one or both parties the right to select or change the interest rate applied to a financial obligation under the contract. Typically, this clause outlines the available interest rate choices, such as fixed or floating rates, and specifies the process and timing for making a selection or switch. Its core practical function is to provide flexibility in managing interest rate exposure, allowing parties to adapt to changing market conditions or financial strategies.
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Interest rate option. Please wire transfer the proceeds of the Borrowing in accordance with the funds flow memorandum delivered under separate cover. The undersigned officer, to the best of his or her knowledge, in his or her capacity as an officer of the Borrower certifies that:
(i) All representations and warranties made by the Borrower contained in the Revolving Credit Agreement and in the other Credit Documents are true and correct in all material respects with the same effect as though such representations and warranties had been made on and as of the date hereof (except where such representations and warranties expressly relate to an earlier date, in which case such representations and warranties are true and correct in all material respects as of such earlier date); and
(ii) No event has occurred and is continuing or would result from the consummation of the Borrowing contemplated hereby that would constitute a Default or an Event of Default. By: Name: Title: TO: Canadian Imperial Bank of Commerce, as Administrative Agent under the Credit Agreement (as defined below) ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇ Attention: ▇▇▇▇▇ ▇▇▇▇▇▇ Facsimile No.: (▇▇▇) ▇▇▇-▇▇▇▇ Pursuant to the Revolving Credit Agreement, dated as of March 19, 2004 (as the same may be amended, modified, supplemented, restated or replaced from time to time, the “Credit Agreement”; the terms defined therein and not otherwise defined herein being used herein as therein defined), among ITC Holdings Corp., a Michigan corporation (the “Borrower”), the various financial institutions and other persons from time to time referred to as “Lenders” in the Credit Agreement (the “Lenders”), Canadian Imperial Bank of Commerce, as the Administrative Agent and Credit Suisse First Boston, Cayman Islands Branch, as Documentation Agent, this represents the Borrower’s request to continue Revolving Credit Loans as follows:
1. Date of continuation or conversion: ,
2. Amount of Revolving Credit Loans being continued or converted:
Interest rate option. [ ] a. Base Rate Loan(s) [ ] b. Eurodollar Rate Loans with an initial Interest Period of month(s) The proceeds of such Loans are to be deposited in Company’s account at . The undersigned officer, to the best of his or her knowledge, certifies on behalf of Company that:
(i) The Specified Representations contained in the Credit Agreement and the other Loan Documents are true, correct and complete in all material respects on and as of the date hereof to the same extent as though made on and as of the date hereof, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties were true, correct and complete in all material respects on and as of such earlier date; provided that, if a representation and warranty is qualified as to materiality, the materiality qualifier set forth above shall be disregarded with respect to such representation and warranty for purposes of this condition;
(ii) The representations in the Merger Agreement that (A) are material to the interests of the Lenders and solely to the extent that Holdings has the right to terminate its obligations as a result of the breach thereof, are true and correct as of the date of the Merger Agreement and as of the Closing Date, as though made on and as of the Closing Date, and (B) are made as of a specific date shall be true and correct as of such date, in each case except where the failure of such representations or warranties to be true and correct (without giving effect to any limitation as to “Material Adverse Effect”, “in all material respects”, “in any material respect”, “material” or “materially” set forth in such representations and warranties) does not have and would not reasonably be expected to have, individually or in the aggregate, a Merger MAC; and
(iii) No event has occurred and is continuing or would result from the consummation of the borrowing contemplated hereby that would constitute an Event of Default or a Potential Event of Default. DATED: [STEALTH ACQUISITION CORP. (to be merged with and into SAFENET, INC.), By: Name: Title:]1 [SAFENET, INC. By: Name: Title:]2 1 To be executed by Stealth Acquisition Corp, with respect to Borrowings on the Closing Date. 2 To be executed by SafeNet, Inc. with respect to Borrowings after the Closing Date. Pursuant to that certain Second Lien Credit Agreement dated as of April 12, 2007, as amended, supplemented or otherwise modified to the date hereof (said Second Lien...
Interest rate option. Type: Tenor: Please wire transfer the proceeds of the Borrowing in accordance with the funds flow memorandum delivered under separate cover. The undersigned officer, to the best of his or her knowledge, in his or her capacity as an officer of the Borrower certifies that:
(i) All representations and warranties made by the Borrower contained in the Revolving Credit Agreement are true and correct in all material respects with the same effect as though such representations and warranties had been made on and as of the date hereof (except where such representations and warranties expressly relate to an earlier date, in which case such representations and warranties are true and correct in all material respects as of such earlier date); provided that the representations made in Sections 7.4 and 7.15 shall be made only on the Closing Date; and
(ii) No event has occurred and is continuing or would result from the consummation of the Borrowing contemplated hereby that would constitute a Default or an Event of Default. By: Name: Title: TO: W▇▇▇▇ Fargo Bank, N.A., as Administrative Agent under the Credit Agreement (as defined below) 1▇▇▇ ▇▇▇▇ ▇.▇. ▇▇▇▇▇▇ Blvd. Charlotte, NC 28262 Mail Code: D1109-019 Attention: Syndication Agency Services Telephone No.: (▇▇▇) ▇▇▇-▇▇▇▇ Telecopy No.: (▇▇▇) ▇▇▇-▇▇▇▇ Email: a▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇.▇▇▇ Pursuant to the Revolving Credit Agreement, dated as of October 23, 2017 (as amended and restated as of January 10, 2020 and as otherwise amended, modified, supplemented, restated or replaced from time to time, the “Revolving Credit Agreement”; the terms defined therein and not otherwise defined herein being used herein as therein defined), among International Transmission Company, a Michigan corporation (the “Borrower”), the various financial institutions and other persons from time to time referred to as “Lenders” in the Revolving Credit Agreement (the “Lenders”), W▇▇▇▇ Fargo Bank, N.A., as the Administrative Agent, this represents the Borrower’s request to continue Revolving Credit Loans as follows:
1. Date of continuation or conversion: _________________, _____
2. Amount of Revolving Credit Loans being continued or converted: $_______________________
3. Nature of continuation or conversion:
a. Conversion of a LIBOR Loan as an ABR Loan __________ b. Conversion of an ABR Loan as a LIBOR Loan __________ c. Continuation (rollover) of LIBOR Loans as LIBOR Loans
4. If Revolving Credit Loans are being continued as or converted into ...
Interest rate option. LIBOR Loans with an initial Interest Period beginning on the 2015 June Joinder Effective Date and ending on July 24, 2015.
Interest rate option. INITIAL ONE (If you have another outstanding loan, you must elect the same option that is in effect for the existing loan, and any contrary election will be disregarded.)
Interest rate option. If the applicable form of a notice of borrowing delivered by the Trustee under this Section 11.2 permits the selection of an interest rate option in respect of an Advance, the Trustee shall select such available interest rate option as has been specified to the Trustee in advance in writing by the Issuer or, in the absence of such specification, such available interest rate option as the Trustee shall, in its sole discretion, determine to select.
Interest rate option. 1 ¨ a. Base Rate Loan(s) ¨ b. Eurodollar Rate Loans with an initial Interest Period ending on [•]
x c. No Borrowings will be made under the Incremental Revolving Commitments on the Increased Amount Date.
Interest rate option o a. Base Rate Loan(s)
Interest rate option. ☐ a. Alternate Base Rate Loan(s) ☐ b. Eurodollar Rate Loans with an initial Interest Period of month(s) for $ Period of month(s) for $ Period of month(s) for $ The proceeds of such Loans are to be deposited in Company’s account. The undersigned officer, in [his] [her] capacity as of Company and not in [his] [her] individual capacity, hereby certifies on behalf of Company that, to the best of its knowledge:
(i) The representations and warranties contained in the Credit Agreement and the other Loan Documents are true, correct and complete in all material respects [(other than, in the case of Borrowings made after the Closing Date, those representations and warranties
1 Funding Date shall be a Business Day. 2 Loans made on any Funding Date (other than Revolving Loans made pursuant to subsection 3.3B of the Credit Agreement for the purpose of reimbursing any Issuing Lender for the amount of a drawing under a Letter of Credit issued by it) shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount. contained in subsections 5.4 and 5.6 of the Credit Agreement)]3 on and as of the date hereof to the same extent as though made on and as of the date hereof, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties were true, correct and complete in all material respects on and as of such earlier date; and
(ii) No event has occurred and is continuing or would result from the consummation of the borrowing contemplated hereby that would constitute an Event of Default or a Potential Event of Default.
Interest rate option. Please wire transfer the proceeds of the Borrowing in accordance with the funds flow memorandum delivered under separate cover. The undersigned officer, to the best of his or her knowledge, in his or her capacity as an officer of the Borrower certifies that: All representations and warranties made by the Borrower contained in the Credit Agreement are true and correct in all material respects with the same effect as though such representations and warranties had been made on and as of the date hereof (except where such representations and warranties expressly relate to an earlier date, in which case such representations and warranties are true and correct in all material respects as of such earlier date); and No event has occurred and is continuing or would result from the consummation of the Borrowing contemplated hereby that would constitute a Default or an Event of Default. Dated: By: Name: Title: TO: L▇▇▇▇▇ Commercial Paper Inc., as Administrative Agent under the Credit Agreement (as defined below) 7▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ Attention: M▇▇▇▇▇▇ ▇▇▇▇▇▇ Facsimile No.: (▇▇▇) ▇▇▇-▇▇▇▇ Pursuant to the Credit Agreement, dated as of September 26, 2007 (as the same may be amended, modified, supplemented, restated or replaced from time to time, the “Credit Agreement”; the terms defined therein and not otherwise defined herein being used herein as therein defined), among ITC Holdings Corp., a Michigan corporation (the “Borrower”), the various financial institutions and other persons from time to time referred to as “Lenders” in the Credit Agreement (the “Lenders”), and L▇▇▇▇▇ Commercial Paper Inc., as the Administrative Agent, this represents the Borrower’s request to continue Loans as follows:
1. Date of continuation or conversion:
2. Amount of Loans being continued or converted:
3. Nature of continuation or conversion:
4. If Loans are being continued as or converted into LIBOR Loans, the duration of the new LIBOR Period that commences on the continuation or conversion date: ____ month(s) The undersigned officer, to the best of his or her knowledge, in his or her capacity as an officer of the Borrower, certifies that:
(i) All representations and warranties made by the Borrower contained in the Credit Agreement are true and correct in all material respects with the same effect as though such representations and warranties had been made on and as of the date hereof (except where such representations and warranties expressly relate to an earlier dat...