Change of Interest Periods Sample Clauses

Change of Interest Periods. The Eurodollar Rate for a Term Loan will automatically be reset at the end of the applicable Interest Period for an identical Interest Period, unless (i) such Term Loan is or was repaid in accordance with Section 2.3 or (ii) the Borrower shall have given the Agent a Change Notice (as defined below) requesting that, at the end of such Interest Period, a new Interest Period be applicable for such Term Loan. The Borrower shall give the Agent irrevocable notice in substantially the form of Exhibit F hereto (a “Change Notice”) of the request for a new Interest Period of a Term Loan not later than 11:30 a.m. (New York time) at least two (2) Business Days prior to the date of the requested change, specifying:
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Change of Interest Periods. The Eurodollar Rate for a Term Loan will automatically be reset at the end of the applicable Interest Period for an identical Interest Period, unless (i) such Term Loan is or was repaid in accordance with Section 2.3 or (ii) the Borrower shall have given the Agent a Change Notice (as defined below) requesting that, at the end of such Interest Period, a new Interest Period be applicable for such Term Loan. The Borrower shall give the Agent irrevocable notice in substantially the form of Exhibit F hereto (a “Change Notice”) of the request for a new Interest Period of a Term Loan not later than 11:30 a.m. (New York time) at least two (2) Business Days prior to the date of the requested change, specifying: (i) the requested date, which shall be a Business Day, of such change, and (ii) the duration of the new Interest Period applicable thereto. The purpose of this Section 2.2(d) is to allow the Borrower to change the Interest Period on an outstanding Term Loan. In no event shall these changes be construed as an advance of a new Loan. 2.3.
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Related to Change of Interest Periods

  • Duration of Interest Periods The duration of each Interest Period relating to the Advance shall, save as otherwise provided herein, be one, three, six or twelve months, or any such other period as may be agreed from time to time between the Borrower and the Agent, in each case as the Borrower may select by not less than three business days' prior notice to the Agent Provided that:

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

  • Interest Periods In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a), shall elect an interest period (each, an "Interest Period") to be applicable to such Loan, which Interest Period shall be a period of one (1), two (2), three (3) or six (6) months with respect to each LIBOR Rate Loan; provided that:

  • Determination of Interest Periods Every Interest Period shall be of the duration specified by the Borrowers pursuant to clause 3.2 but so that:

  • Selection of Interest Periods (a) A Borrower (or the Company on behalf of a Borrower) may select an Interest Period for a Loan in the Utilisation Request for that Loan.

  • Commencement of Interest Periods The first Interest Period shall commence on the Drawdown Date and each subsequent Interest Period shall commence on the expiry of the preceding Interest Period.

  • LIBOR Interest Periods In lieu of making any payment pursuant to this Section 5.2 in respect of any LIBOR Loan, other than on the last day of the Interest Period therefor so long as no Event of Default shall have occurred and be continuing, the Borrower at its option may deposit, on behalf of the Borrower, with the Administrative Agent an amount equal to the amount of the LIBOR Loan to be prepaid and such LIBOR Loan shall be repaid on the last day of the Interest Period therefor in the required amount. Such deposit shall be held by the Administrative Agent in a corporate time deposit account established on terms reasonably satisfactory to the Administrative Agent, earning interest at the then customary rate for accounts of such type. Such deposit shall constitute cash collateral for the LIBOR Loans to be so prepaid; provided that the Borrower may at any time direct that such deposit be applied to make the applicable payment required pursuant to this Section 5.2.

  • Duration of normal Interest Periods Subject to Clauses 6.3 and 6.4, each Interest Period shall be:

  • 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.

  • 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.

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