Selection Notice Clause Samples
A Selection Notice clause defines the process by which one party formally notifies the other of its choice among specified options or alternatives under the contract. Typically, this clause outlines the method, timing, and required content of the notice, ensuring that the selection is communicated clearly and within any stipulated deadlines. Its core practical function is to provide a structured and unambiguous way for parties to exercise contractual choices, thereby reducing the risk of misunderstandings or disputes about selections made during the contract term.
Selection Notice. From: [Borrower] To: [Facility Agent] Dated: Dear Sirs Xstrata (Schweiz) AG – $600,000,000 Multicurrency Loan Facility Agreement dated [ ] 2005 (the “Agreement”)
1. We refer to the Agreement. This is a Selection Notice. Terms defined in the Agreement have the same meaning in this Selection Notice unless given a different meaning in this Selection Notice.
2. We refer to the following Loan[s] with an Interest Period ending on [ ].*
3. [We request that the above Loan[s] be divided into [ ] Loans with the following Base Currency Amounts and Interest Periods:]** [We request that the next Interest Period for the above Loan[s] is [ ]].***
4. This Selection Notice is irrevocable. authorised signatory for [the Company on behalf of] [name of relevant Borrower] * Insert details of all Loans which have an Interest Period ending on the same date. ** Use this option if division of Loans is requested. *** Use this option if sub-division is not required.
1. The Mandatory Cost is an addition to the interest rate to compensate Lenders for the cost of compliance with (a) the requirements of the Bank of England and/or the Financial Services Authority (or, in either case, any other authority which replaces all or any of its functions) or (b) the requirements of the European Central Bank.
2. On the first day of each Interest Period (or as soon as possible thereafter) the Facility Agent shall calculate, as a percentage rate, a rate (the “Additional Cost Rate”) for each Lender, in accordance with the paragraphs set out below. The Mandatory Cost will be calculated by the Facility Agent as a weighted average of the Lenders’ Additional Cost Rates (weighted in proportion to the percentage participation of each Lender in the relevant Loan) and will be expressed as a percentage rate per annum.
3. The Additional Cost Rate for any Lender lending from a Facility Office in a Participating Member State will be the percentage notified by that Lender to the Facility Agent. This percentage will be certified by that Lender in its notice to the Facility Agent to be its reasonable determination of the cost (expressed as a percentage of that Lender’s participation in all Loans made from that Facility Office) of complying with the minimum reserve requirements of the European Central Bank in respect of loans made from that Facility Office.
4. The Additional Cost Rate for any Lender lending from a Facility Office in the United Kingdom will be calculated by the Facility Agent as follows:
(a) in relati...
Selection Notice. From: Hindustan Zinc Limited To: ABN AMRO Bank N.V., as Agent Dated: [___________] 2005 Dear Sirs HINDUSTAN ZINC LIMITED - ONE HUNDRED AND TWENTY FIVE MILLION DOLLAR ($125,000,000) TERM FACILITY AGREEMENT DATED [___________] JULY 2005 (THE "AGREEMENT")
1. We refer to the Agreement. This is a Selection Notice. Terms defined in the Agreement have the same meaning in this Selection Notice unless given a different meaning in this Selection Notice.
2. We refer to the Loan with an Interest Period ending on [___________]. We request that the next Interest Period for the above Loan is [_____].
3. This Selection Notice is irrevocable. Yours faithfully ---------------------------------------- authorised signatory for HINDUSTAN ZINC LIMITED SCHEDULE 4 MANDATORY COST FORMULAE
1. The Mandatory Cost is an addition to the interest rate to compensate Lenders for the cost of compliance with (a) the requirements of the Financial Services Authority or any other authority which replaces all or any of its functions) or (b) the requirements of the European Central Bank.
2. On the first day of each Interest Period (or as soon as possible thereafter) the Agent shall calculate, as a percentage rate, a rate (the "ADDITIONAL COST RATE") for each Lender, in accordance with the paragraphs set out below. The Mandatory Cost will be calculated by the Agent as a weighted average of the Lenders' Additional Cost Rates (weighted in proportion to the percentage participation of each Lender in the relevant Loan) and will be expressed as a percentage rate per annum.
3. The Additional Cost Rate for any Lender lending from a Facility Office in a Participating Member State will be the percentage notified by that Lender to the Agent. This percentage will be certified by that Lender in its notice to the Agent to be its reasonable determination of the cost (expressed as a percentage of that Lender's participation in all Loans made from that Facility Office) of complying with the minimum reserve requirements of the European Central Bank in respect of loans made from that Facility Office.
4. The Additional Cost Rate for any Lender lending from a Facility Office in the United Kingdom will be calculated by the Agent as follows:
Selection Notice. APPLICABLE TO A FACILITY A LOAN
Selection Notice. From: [Borrower]* To: [Facility Agent] Dated: Dear Sirs
Selection Notice. Applicable to a Term Loan CSP ALPHA HOLDINGS PTE. LTD.
1. We refer to the Facilities Agreement. This is a Selection Notice. Terms defined in the Facilities Agreement have the same meaning in this Selection Notice unless given a different meaning in this Selection Notice.
2. We refer to the following Term Facility Loan[s] with an Interest Period ending on [ ]*.
3. [We request that the above Term Facility Loan[s] be divided into [ ] Term Facility Loans with the following amounts and Interest Periods:]** [We request that the next Interest Period for the above Term Facility Loan[s] is [ ]].***
4. This Selection Notice is irrevocable. [the Company on behalf of [insert name of relevant Borrower]][insert name of relevant Borrower] NOTES: * Insert details of all Term Loans for the relevant Facility which have an Interest Period ending on the same date. ** Use this option if division of Term Facility Loans is requested. *** Use this option if sub-division is not required. 0081727-0000042 SN:12155633.21 226 To: [ ] as Agent From: [The Existing Lender] (the Existing Lender) and [The New Lender] (the New Lender) Dated: Senior Facilities Agreement dated [l] 2017 (the Facilities Agreement)
1. We refer to the Facilities Agreement. This agreement (the Agreement) shall take effect as a Transfer Certificate for the purpose of the Facilities Agreement. Terms defined in the Facilities Agreement have the same meaning in this Agreement unless given a different meaning in this Agreement.
2. We refer to Clause 27.5 (Procedure for transfer) of the Facilities Agreement:
(a) The Existing Lender and the New Lender agree to the Existing Lender transferring to the New Lender by novation and in accordance with Clause 27.5 (Procedure for transfer) all of the Existing Lender's rights and obligations under the Facilities Agreement and the other Finance Documents which relate to that portion of the Existing Lender's Commitment(s) and participations in Utilisations under the Facilities Agreement as specified in the Schedule.
(b) The proposed Transfer Date is [ ].
(c) The Facility Office and address, fax number, email address and attention details for notices of the New Lender for the purposes of Clause 42.2 (Addresses) are set out in the Schedule.
3. The New Lender expressly acknowledges the limitations on the Existing Lender's obligations set out in paragraph (c) of Clause 27.4 (Limitation of responsibility of Existing Lenders).
4. The New Lender confirms that it [is]/[is not]*** a Sponsor ...
Selection Notice. From: Studio City Company Limited as Borrower To: [Agent] Date: Dear Sirs
Selection Notice. From: [Borrower] To: [Agent] Dated: Dear Sirs
Selection Notice. From: [Borrower] To: [Agent] Dated: Dear Sirs 1 We refer to the Facilities Agreement. This is a Selection Notice. Terms defined in the Facilities Agreement have the same meaning in this Selection Notice unless given a different meaning in this Selection Notice.
Selection Notice. Applicable to a Term Loan
Selection Notice. From: [Borrower] To: [▇.▇. ▇▇▇▇▇▇ Europe Limited] Dated: Dear Sirs GFI Mining South Africa (Proprietary) Limited - US$1,800,000,000 Bridge Loan Facility Agreement dated [•] 2006 (the “Agreement”)
1. We refer to the Agreement. This is a Selection Notice. Terms defined in the Agreement have the same meaning in this Selection Notice unless given a different meaning in this Selection Notice.
2. We refer to the following Loans with an Interest Period ending on [ ]*.
3. [We request that the above Loans be divided into [ ] Loans of the following amounts and with the following Interest Periods:]** [We request that the next Interest Period for the above Loans is [ ]].***
4. This Selection Notice is irrevocable. [name of relevant Borrower] * Insert details of all Loans in the same currency which have an Interest Period ending on the same date. ** Use this option if division of Loans is requested. *** Use this option if sub-division is not required. SCHEDULE 4 MANDATORY COST FORMULAE
1. The Mandatory Cost is an addition to the interest rate to compensate Lenders for the cost of compliance with (a) the requirements of the Bank of England and/or the Financial Services Authority (or, in either case, any other authority which replaces all or any of its functions) or (b) the requirements of the European Central Bank.
2. On the first day of each Interest Period (or as soon as possible thereafter) the Agent shall calculate, as a percentage rate, a rate (the “Additional Cost Rate”) for each Lender, in accordance with the paragraphs set out below. The Mandatory Cost will be calculated by the Agent as a weighted average of the Lenders’ Additional Cost Rates (weighted in proportion to the percentage participation of each Lender in the relevant Loan) and will be expressed as a percentage rate per annum.
3. The Additional Cost Rate for any Lender lending from a Facility Office in a Participating Member State will be the percentage notified by that Lender to the Agent. This percentage will be certified by that Lender in its notice to the Agent to be its reasonable determination of the cost (expressed as a percentage of that Lender’s participation in all Loans made from that Facility Office) of complying with the minimum reserve requirements of the European Central Bank in respect of loans made from that Facility Office.
4. The Additional Cost Rate for any Lender lending from a Facility Office in the United Kingdom will be calculated by the Agent as follows: per cent. per annum.