Setting and Notice of Rates. (a) The applicable interest rate for or during each Loan Period for any Committed Loan shall be determined by the Administrative Agent, which shall promptly advise the Borrower and each Bank thereof. The interest rate determination by the Administrative Agent shall be conclusive and binding upon the parties hereto, in the absence of demonstrable error. (b) The Administrative Agent shall, upon written request of the Borrower or any Bank, deliver to the Borrower or such Bank, as the case may be, a statement showing the computations used by the Administrative Agent in determining the interest rate applicable to any Eurodollar Rate Loan.
Appears in 2 contracts
Sources: Senior Revolving Credit Facility Agreement (Hunt J B Transport Services Inc), Senior Revolving Credit Facility Agreement (Hunt J B Transport Services Inc)
Setting and Notice of Rates. (a) The applicable interest rate for or during each Loan Period for any Committed Loan shall be determined by the Administrative Agent, which shall promptly advise the Borrower and each Bank thereof. The interest rate determination by the Administrative Agent shall be conclusive and binding upon the parties hereto, in the absence of demonstrable error.
(b) The Administrative Agent shall, upon written request of the Borrower or any Bank, deliver to the Borrower or such Bank, as the case may be, a statement showing the computations used by the Administrative Agent in determining the interest rate applicable to any Eurodollar Rate Loan.
Appears in 1 contract
Sources: Senior Term Loan Agreement (Hunt J B Transport Services Inc)