Beginning and end of Interest Periods. The first Interest Period in respect of the Loan shall begin on the Drawdown Date and shall end on the last day of the Interest Period selected in accordance with Clause 7.1. Any subsequent Interest Period selected in respect of the Loan shall commence on the day following the last day of its previous Interest Period and shall end on the last day of its current Interest Period selected in accordance with Clause 7.1.
Appears in 4 contracts
Samples: Loan Agreement, Loan Agreement, Loan Agreement (Teekay LNG Partners L.P.)
Beginning and end of Interest Periods. The first Interest Period in respect of the Loan shall begin on the Drawdown Date and shall end on the last day of the Interest Period selected in accordance with Clause 7.1. Any subsequent Interest Period selected in respect of the Loan shall commence on the day following the last day of its previous Interest Period and shall end on the last day of its current Interest Period selected in accordance with Clause 7.1.
Appears in 2 contracts
Beginning and end of Interest Periods. The first Interest Period shall begin on the first Advance Date. Notwithstanding Clause 6.1, the first Interest Period in respect of each Drawing other than the Loan first shall begin be of such a length as to end on the Drawdown Date same date as the then current Interest Period applicable to the remainder of the Loan, and the final Interest Period shall end on the last day of Repayment Date applicable to the Interest Period selected in accordance with Clause 7.1. Any subsequent Interest Period selected in respect of the Loan shall commence on the day following the last day of its previous Interest Period and shall end on the last day of its current Interest Period selected in accordance with Clause 7.1final Repayment Instalment.
Appears in 2 contracts
Samples: Loan Agreement (Mc Shipping Inc), Loan Agreement (Excel Maritime Carriers LTD)
Beginning and end of Interest Periods. The first Interest Period in respect of the Loan shall begin on the Drawdown Date of the Advance and shall end on the last day of the Interest Period selected in accordance with Clause 7.1first Application Date. Any subsequent Interest Period selected in respect of the Loan shall commence on the day following the last day of its previous Interest Period and shall end on the last day of its current Interest Period selected in accordance with Clause clause 7.1.
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