Rate Confirmation Clause Samples
A Rate Confirmation clause formally establishes the agreed-upon rates for services or goods between contracting parties. Typically, this clause specifies the exact rate, the scope of work or services covered, and may outline the duration or conditions under which the rate applies. By clearly documenting the rate and its terms, the clause ensures both parties have a mutual understanding, thereby reducing the risk of disputes over payment and providing a reliable reference point for invoicing and contract enforcement.
POPULAR SAMPLE Copied 2 times
Rate Confirmation. Within one Business Day after receipt of the completed and executed Rate Setting Form, the Lender shall solicit bids from institutional investors selected by the Lender based on the information in the Rate Setting Form and, provided the actual Coupon Rate (if the low bid were accepted) would be at or below the Maximum Annual Coupon Rate, shall obtain a commitment (“MBS Commitment”) for the purchase of a ▇▇▇▇▇▇ Mae MBS having the bid terms described in the related Rate Setting Form, and shall immediately deliver to the Borrower by facsimile transmission a completed document, in the form attached as Exhibit N to this Agreement (“Rate Confirmation Form”). The Rate Confirmation Form will confirm:
(i) for a Variable Advance, the amount, term, MBS Issue Date, MBS Delivery Date, MBS Imputed Interest Rate, Variable Facility Fee, Coupon Rate, Discount, Price, and Closing Date for the Advance; and
(ii) for a Fixed Facility Advance, the amount, term, MBS Issue Date, MBS Delivery Date, MBS Pass-Through Rate, Fixed Facility Fee, Coupon Rate, Price, Yield Maintenance Period, Specified U.S. Treasury Security, Amortization Period and Closing Date for the Advance.
Rate Confirmation. Within one Business Day after receipt of the Rate Form, Lender shall solicit bids from institutional investors selected by Lender based on the information in the Rate Form and, provided the actual Coupon Rate (if the low bid were accepted) would be at or below the Maximum Annual Coupon Rate, shall obtain a commitment ("MBS Commitment") for the purchase of an MBS having the bid terms described in the related Rate Form. Lender shall then complete and countersign the Rate Form thereby confirming the amount, term, MBS Issue Date, MBS Delivery Date, MBS Imputed Interest Rate or MBS Pass-Through Rate, Facility Fee, Coupon Rate, Discount, Price, and Closing Date for the Advance and shall immediately deliver by facsimile transmission the Rate Form to Borrower.
Rate Confirmation. Within one (1) Business Day after receipt of the Rate Lock Deposit and completed and executed Interest Rate Lock Agreement, the Lender shall solicit bids from institutional investors selected by the Lender based on information in the Interest Rate Lock Agreement, and provided the actual Interest Rate on the Future Excess Proceeds Term Loan would be at or below the Maximum Rate, shall obtain a commitment ("MBS Commitment") for the purchase of ▇▇▇▇▇▇ Mae MBS having the bid terms described in the Interest Rate Lock Agreement, and shall immediately deliver to the Borrowing Agent by facsimile transmission a completed document in the form of Exhibit H ("Rate Confirmation Form").
Rate Confirmation. In the case of a DMBS execution, within one (1) Business Day after receipt of the Rate Form and upon satisfaction of all of the conditions to Lender’s obligation to make the Advance, Lender shall solicit bids from institutional investors selected by Lender based on the information in the Rate Form and, provided the actual Coupon Rate would be at or below the Maximum Annual Coupon Rate, shall obtain a commitment (“DMBS Commitment”) for the purchase of an DMBS having the bid terms described in the related Rate Form. In the case of a cash execution, within one (1) Business Day after receipt of the Rate Form, Lender shall obtain a commitment from ▇▇▇▇▇▇ Mae (“▇▇▇▇▇▇ ▇▇▇ Commitment”) for the purchase of the proposed Advance having the terms described in the related Rate Form. Lender shall then complete and countersign the Rate Form thereby confirming the amount, term, and Closing Date for the Advance, in the case of a Variable Advance, the DMBS Issue Date, DMBS Delivery Date or DMBS Imputed Interest Rate, Variable Facility Fee, Coupon Rate, Discount and Price, and in the case of a Fixed Advance, the Cash Interest Rate and shall immediately deliver by facsimile transmission the Rate Form to Borrower.
Rate Confirmation. In the case of an MBS execution, within one (1) Business Day after receipt of the Rate Form and upon satisfaction of all of the conditions for conversion, Lender shall solicit bids from institutional investors selected by Lender based on the information in the Rate Form and, provided the MBS Pass-Through Rate would be at or below the Maximum Annual Interest Rate, shall obtain a commitment (“MBS Commitment”) for the purchase of an MBS having the bid terms described in the related Rate Form. In the case of a cash execution, within one (1) Business Day after receipt of the Rate Form, Lender shall obtain a commitment from ▇▇▇▇▇▇ ▇▇▇ (“▇▇▇▇▇▇ ▇▇▇ Commitment”) for the converted Fixed Loan having the terms described in the related Rate Form. Lender shall then complete and countersign the Rate Form thereby confirming the amount, term, and Closing Date for the conversion, for a Fixed Loan with an MBS execution, the MBS Issue Date, MBS Delivery Date, MBS Pass-Through Rate, and Fixed Facility Fee and for a Fixed Loan with a cash execution, the Cash Interest Rate, and shall immediately deliver by facsimile transmission the Rate Form to Borrower.
Rate Confirmation. Within one (1) Business Day after receipt of the Rate Form, Servicer shall obtain a commitment from ▇▇▇▇▇▇ Mae’s trading desk (“▇▇▇▇▇▇ ▇▇▇ Commitment”) for the extended and converted Loan having the terms described in the related Rate Form. Servicer shall then complete and sign the Rate Form thereby confirming the amount, term, Adjustable Rate, Variable Loan Fee and Closing Date for the conversion/Extension and shall immediately deliver by facsimile transmission (or via electronic mail in PDF format) the Rate Form to the applicable Collateral Pool Borrower to be countersigned.
Rate Confirmation. Within one Business Day after receipt of the completed and executed Rate Setting Form, the Lender shall solicit bids from institutional investors selected by the Lender based on the information in the Rate Setting Form and, provided the actual Coupon Rate (if the low bid were accepted) would be at or below the Maximum Annual Coupon Rate, shall obtain a commitment (the "MBS COMMITMENT") for the purchase of a ▇▇▇▇▇▇ ▇▇▇ MBS having the bid terms described in the related Rate Setting Form, and shall immediately deliver to the Borrower by facsimile transmission a completed document, in the form attached as EXHIBIT N to this Agreement (the "RATE CONFIRMATION FORM") confirming the amount, term, MBS Issue Date, MBS Delivery Date, MBS Pass-Through Rate, Base Facility Fee, Coupon Rate, Price, Yield Maintenance Period, Specified U.S. Treasury Security and Closing Date for the Advance. The term "MBS PASS-THROUGH RATE" means, for a specified ▇▇▇▇▇▇ Mae MBS backed by a Base Facility Advance, the interest rate (rounded to three places) which the ▇▇▇▇▇▇ ▇▇▇ MBS will bear based on the MBS Commitment, as determined by the Lender. In the event that the Lender obtains an MBS Commitment and the Lender fails to fulfill the MBS Commitment because the Advance is not made (for a reason other than the default of the Lender to make the Advance), the Borrower shall pay all breakage and other costs, fees and damages incurred by the Lender in connection with its failure to fulfill the MBS Commitment.
Rate Confirmation. Within one (1) Business Day after receipt of the Rate Form, Lender shall obtain a commitment from ▇▇▇▇▇▇ ▇▇▇ (“▇▇▇▇▇▇ ▇▇▇ Commitment”) for the purchase of the proposed Additional Loan having the terms described in the related Rate Form. Lender shall then complete and sign the Rate Form thereby confirming the amount, term, Cash Interest Rate, Fixed Loan Fee and Closing Date for the Additional Loan and shall immediately deliver by facsimile transmission (or via electronic mail in PDF format) the Rate Form to the applicable Collateral Pool Borrower to be countersigned.
Rate Confirmation. In the case of a an MBS execution, within one (1) Business Day after receipt of the draft Rate Form and upon satisfaction of all of the conditions relating to the making of a Loan or converting of a Loan, Lender shall solicit bids from institutional investors selected by Lender based on the information in the Rate Form. If Lender obtains a commitment (“Investor Commitment”) on terms equivalent (or better for Borrower than) the terms in the draft Rate Form, Lender shall then complete and countersign the Rate Form thereby confirming the terms set forth therein, and shall immediately deliver the confirmed Rate Form to Borrower (via facsimile) for the purchase of an MBS having the bid terms described in the draft Rate Form. In the case of a cash execution, within one (1) Business Day after receipt of the Rate Form, Lender shall obtain a commitment from F▇▇▇▇▇ M▇▇ (“F▇▇▇▇▇ M▇▇ Commitment”) for the purchase of the proposed Loan having the terms described in the draft Rate Form. If Lender obtains a Cash Commitment on terms equivalent (or better for Borrower than) the terms in the draft Rate Form, Lender shall complete and sign the Rate Form thereby confirming the terms set forth therein and shall immediately deliver (via facsimile) the confirmed Rate Form to Borrower.
Rate Confirmation. Within one (1) Business Day after receipt of the Rate Form and upon satisfaction of substantially all of the conditions to Lender’s obligation to make such Advance (or for Conversion, as applicable), Lender shall solicit bids from institutional investors selected by Lender based on the information in the Rate Form. If Lender obtains a commitment (“Funding Commitment”) on terms equivalent to (or better than) the terms in the draft Rate Form, Lender shall then complete and countersign the Rate Form thereby confirming the terms set forth therein, and shall immediately deliver the confirmed Rate Form to Borrower. The interest rate for such Advance, as set forth in the confirmed Rate Form, shall be the most favorable bid, not to exceed the Maximum Annual Interest Rate.