Common use of Manner of Rate Selection Clause in Contracts

Manner of Rate Selection. Seminis shall notify the Administrative Agent by 11:00 a.m. (Chicago time) at least three (3) Business Days prior to the date upon which it requests that any LIBOR Portion be created or that any part of a Base Rate Portion be converted into a LIBOR Portion (such notice to specify in each instance the amount thereof and the Interest Period selected therefor) and the Administrative Agent shall promptly advise each Bank of each such notice. All requests for the creation, continuance or conversion of Portions under this Agreement shall be irrevocable. If any request is made to convert a LIBOR Portion in to the applicable Base Rate Portion, such conversion shall only be made so as to become effective on the last day of the Interest Period applicable thereto. Such requests may be written or oral and the Administrative Agent is hereby authorized to honor telephonic requests for creations, continuances and conversions received by it from any person purporting to be a person authorized to act on behalf of Seminis hereunder, the Borrowers hereby jointly and severally indemnifying the Administrative Agent and the Banks from any liability or loss ensuing from so acting.

Manner of Rate Selection. Seminis The relevant Borrower shall notify the Administrative Agent by 11:00 a.m. (12:00 Noon Chicago time) time at least three (3) Business Days prior to the date upon which it requests that any LIBOR Portion be created or that any part of a Base the Domestic Rate Portion be converted into a LIBOR Portion (such notice to specify in each instance the amount thereof and the Interest Period selected therefor) and the Administrative Agent shall promptly advise each Bank Lender of each such notice by 2:00 p.m. Chicago time on the same Business Day it receives such notice. If any request is made to convert a LIBOR Portion into the Domestic Rate Portion, such conversion shall only be made so as to become effective as of the last day of the Interest Period applicable thereto. All requests for the creation, continuance or conversion of Portions under this Agreement shall be irrevocable. If any request is made to convert a LIBOR Portion in to the applicable Base Rate Portion, such conversion shall only be made so as to become effective on the last day of the Interest Period applicable thereto. Such requests may be written or oral and the Administrative Agent is hereby authorized to honor telephonic requests for creations, continuances and conversions received by it from any person purporting the Agent reasonably believes to be a person authorized to act on behalf of Seminis such Borrower hereunder, the Borrowers hereby jointly and severally indemnifying the Administrative Agent and the Banks Lenders from any liability or loss ensuing from so acting.

Manner of Rate Selection. Seminis The Borrower shall notify the Administrative Agent by 11:00 a.m. 1:00 p.m. (Chicago Charlotte time) at least three (3) Business Days prior to the date upon which it requests that any LIBOR Portion be created or that any part of a the Base Rate Portion be converted into a LIBOR Portion (such notice to specify in each instance the amount thereof and the Interest Period selected therefor) and the Administrative Agent shall promptly advise each Bank Lender of each such notice. If any request is made to convert a LIBOR Portion into the applicable Base Rate Portion, such conversion shall only be made so as to become effective as of the last day of the Interest Period applicable thereto. All requests for the creation, continuance or conversion of Portions under this Agreement shall be irrevocable. If any request is made to convert a LIBOR Portion in to the applicable Base Rate Portion, such conversion shall only be made so as to become effective on the last day of the Interest Period applicable thereto. Such requests may be written or oral by facsimile transmission or telecopy and the Administrative Agent is hereby authorized to honor telephonic requests for creations, continuances and conversions received by it from any person purporting to be a person authorized to act on behalf of Seminis the Borrower hereunder, the Borrowers Borrower hereby jointly and severally indemnifying the Administrative Agent and the Banks Lenders from any liability or loss ensuing from so acting.