Amendment to Definition of Interest Period Sample Clauses

Amendment to Definition of Interest Period. The definition of Interest Period set forth in Section 1.01 of the Credit Agreement is hereby amended by (i) “second,” from the first sentence and (ii) clause (C)(2) in its entirety.
Sample 1
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Amendment to Definition of Interest Period. The definition of “Interest Period” set forth in Section 1.01 of the Credit Agreement is hereby amended to replace the words “Termination Date” appearing in each instance therein with the words “Maturity Date”.
Sample 1
Amendment to Definition of Interest Period. Effective as of the date hereof, the definition of "Interest Period" set forth in Section 1.1 of the Agreement is hereby amended only to the extent that the reference therein to the periods of "the first (1st), second (2nd) or third (3rd) calendar month" shall hereafter be "the first (1st), second (2nd), third (3rd) or sixth (6th) calendar month".
Sample 1
Amendment to Definition of Interest Period. The definition of Interest Period of the Existing Credit
Sample 1
Amendment to Definition of Interest Period. The introductory clause to the definition of “Interest Period” contained in Annex A to the Credit Agreement is hereby amended and restated to read as follows:
Sample 1
Amendment to Definition of Interest Period. The definition of "Interest Period" contained in Section 1.1 of the Credit Agreement is hereby amended and restated to read in its entirety as follows: "Interest Period" means, with respect to any Eurodollar Advances, each period commencing on the date such Eurodollar Advances are made or Converted from Advances of another Type, or, in the case of each subsequent, successive Interest Period applicable to a Eurodollar Advance, the last day of the next preceding Interest Period with respect to such Advance, and ending on the day 30, 60, 90 or 180 days thereafter, as Borrower may select as provided in SECTION 2.5 or 3.5 hereof. Notwithstanding the foregoing: (a) each Interest Period which would otherwise end on a day which is not a Eurodollar Business Day shall end on the next succeeding Eurodollar Business Day; (b) any Interest Period which would otherwise extend beyond the Termination Date shall end on the Termination Date; (c) no more than three (3) Interest Periods for Eurodollar Advances shall be in effect at the same time; (d) no Interest 2 163 Period shall have a duration of less than thirty (30) days and, if the Interest Period for any Eurodollar Advances would otherwise be a shorter period, such Advances shall not be available hereunder; and (e) no Interest Period may extend beyond a principal repayment date unless, after giving effect thereto, the aggregate principal amount of the Eurodollar Advances having Interest Periods that end after such principal payment date shall be equal to or less than the Advances to be outstanding hereunder after such principal repayment date.
Sample 1
Amendment to Definition of Interest Period. The definition of Interest Period is hereby amended by deleting the words "one, two, three, six or nine months thereafter" appearing on the third and fourth lines thereof and replacing such words with "one month thereafter".
Sample 1
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Related to Amendment to Definition of Interest Period

  • Notification of interest periods and default rates The Agent shall promptly notify the Lenders and the Borrower of each interest rate determined by the Agent under Clause 7.3 and of each period selected by the Agent for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Agent’s notification.

  • Determination of Interest Periods The length of each Interest Period shall be as requested by the Borrowers under clause 3.2 but so that: 3.3.1 the first Interest Period in respect of each Tranche shall start on the Drawdown Date in respect of the first Advance in respect of that Tranche, and each subsequent Interest Period shall start on the last day of the previous Interest Period; 3.3.2 the first Interest Period in respect of each subsequent Advance shall commence on its Drawdown Date and terminate simultaneously with the Interest Period which is then current for the Tranche under which the Advance is made available; 3.3.3 if any Interest Period would otherwise overrun a Repayment Date, then, in the case of the last Repayment Date, such Interest Period shall end on such Repayment Date, and in the case of any other Repayment Date the relevant Tranche shall be divided into parts so that there is one part in the amount of the repayment instalment due on each Repayment Date falling in that Interest Period and having an Interest Period ending on the relevant Repayment Date and another part consisting of the balance of the relevant Tranche having an Interest Period ascertained in accordance with the other provisions of this clause 3; and 3.3.4 if the Borrowers fail to specify the length of an Interest Period in accordance with the provisions of clause 3.2 and this clause 3.3 such Interest Period shall last three months or such other period as complies with this clause 3.3.

  • Duration of Interest Periods 13 2.6 Interest Rates and Payments of Interest............................................. 14 2.7 Changed Circumstances............................................................... 14 2.8 The Loan Account.................................................................... 15 2.9 Statement of Loan Account........................................................... 16 2.10 Payments and Prepayments of the Loans............................................... 16 2.11

  • Determination of Rate of Interest and calculation of Interest Amounts The Agent will at or as soon as practicable after each time at which the Rate of Interest is to be determined, determine the Rate of Interest for the relevant Interest Period. The Agent will calculate the amount of interest (the Interest Amount) payable on the Floating Rate Notes for the relevant Interest Period by applying the Rate of Interest to: (A) in the case of Floating Rate Notes which are represented by a Global Note, the aggregate outstanding nominal amount of the Notes represented by such Global Note; or (B) in the case of Floating Rate Notes in definitive form, the Calculation Amount; and, in each case, multiplying such sum by the applicable Day Count Fraction, and rounding the resultant figure to the nearest sub-unit of the relevant Specified Currency, half of any such sub-unit being rounded upwards or otherwise in accordance with applicable market convention. Where the Specified Denomination of a Floating Rate Note in definitive form is a multiple of the Calculation Amount, the Interest Amount payable in respect of such Note shall be the product of the amounts (determined in the manner provided above) for the Calculation Amount and the amount by which the Calculation Amount is multiplied to reach the Specified Denomination, without any further rounding.

  • Changes to Interest Periods (a) Prior to determining the interest rate for a Facility A Loan, the Agent may shorten an Interest Period for any Facility A Loan to ensure there are sufficient Facility A Loans with an Interest Period ending on a Facility A Repayment Date for the Borrowers to make the Repayment Instalment due on that Facility A Repayment Date. (b) If the Agent makes any of the changes to an Interest Period referred to in this Clause 13.2, it shall promptly notify the Company and the Lenders.

  • Amendment to Definitions In Section 1.01, amendments are made to the definitions as follows:

  • Selection of Interest Periods (a) A Borrower may select an Interest Period for a Loan in the Utilisation Request for that Loan. (b) Subject to this Clause 9, a Borrower may select an Interest Period of one (1), two (2), three (3) or six (6) months or any other period agreed between the Borrower and the Agent (acting on the instructions of all the Lenders). (c) An Interest Period for a Loan shall not extend beyond the Termination Date. (d) Each Interest Period for a Loan shall start on the Utilisation Date. (e) A Loan has one Interest Period only.

  • Notice of Interest Period and Interest Rate Promptly after receipt of a Notice of Borrowing pursuant to Section 2.02(a), a notice of Conversion pursuant to Section 2.09 or a notice of selection of an Interest Period pursuant to the definition of “Interest Period”, the Administrative Agent shall give notice to the Borrower and each Lender of the applicable Interest Period and the applicable interest rate determined by the Administrative Agent for purposes of clause (a)(i) or (a)(ii) above.

  • Selection of Interest Rate Options At any time any portion of this Note bears interest determined in relation to LIBOR, it may be continued by Borrower at the end of the Fixed Rate Term applicable thereto so that all or a portion thereof bears interest determined in relation to the Prime Rate or to LIBOR for a new Fixed Rate Term designated by Borrower. At any time any portion of this Note bears interest determined in relation to the Prime Rate, Borrower may convert all or a portion thereof so that it bears interest determined in relation to LIBOR for a Fixed Rate Term designated by Borrower. At such time as Borrower requests an advance hereunder or wishes to select a LIBOR option for all or a portion of the outstanding principal balance hereof, and at the end of each Fixed Rate Term, Borrower shall give Bank notice specifying: (i) the interest rate option selected by Borrower; (ii) the principal amount subject thereto; and (iii) for each LIBOR selection, the length of the applicable Fixed Rate Term. Any such notice may be given by telephone (or such other electronic method as Bank may permit) so long as, with respect to each LIBOR selection, (A) if requested by Bank, Borrower provides to Bank written confirmation thereof not later than three (3) Business Days after such notice is given, and (B) such notice is given to Bank prior to 10:00 a.m. on the first day of the Fixed Rate Term, or at a later time during any Business Day if Bank, at it’s sole option but without obligation to do so, accepts Borrower’s notice and quotes a fixed rate to Borrower. If Borrower does not immediately accept a fixed rate when quoted by Bank, the quoted rate shall expire and any subsequent LIBOR request from Borrower shall be subject to a redetermination by Bank of the applicable fixed rate. If no specific designation of interest is made at the time any advance is requested hereunder or at the end of any Fixed Rate Term, Borrower shall be deemed to have made a Prime Rate interest selection for such advance or the principal amount to which such Fixed Rate Term applied.

  • Number of Interest Periods There may be no more than 6 different Interest Periods for LIBOR Loans outstanding at the same time.

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