Consolidation and division of Loans. (a) Subject to paragraph (b) below, if two (2) or more Interest Periods: (i) relate to Loans; and (ii) end on the same date, those Loans will, unless the Borrower specifies to the contrary in the Selection Notice for the next Interest Period, be consolidated into, and treated as, a single Loan on the last day of that Interest Period. (b) Subject to Clause 5.3 (Currency and amount), if the Borrower requests in a Selection Notice that a Loan be divided into two (2) or more Loans, that Loan will, on the last day of its Interest Period, be so divided into the amounts specified in that Selection Notice, being an aggregate amount equal to the amount of the Loan immediately before its division.
Appears in 2 contracts
Samples: Debtor in Possession Credit Agreement (Eagle Bulk Shipping Inc.), Credit Agreement (Eagle Bulk Shipping Inc.)
Consolidation and division of Loans. (a) Subject to paragraph (b) below, if two (2) or more Interest Periods:
(i) relate to Loans; and
(ii) end on the same date, those Loans will, unless the Borrower specifies to the contrary in the Selection Notice for the next Interest Period, be consolidated into, and treated as, a single Loan on the last day of that the Interest Period.
(b) Subject to Clause 4.4 (Maximum number of Loans) and Clause 5.3 (Currency and amount), if the Borrower requests in a Selection Notice that a Loan be divided into two (2) or more Loans, that Loan will, on the last day of its Interest Period, be so divided into the amounts specified in that Selection Notice, being an aggregate amount equal to the amount of the Loan immediately before its division.
Appears in 2 contracts
Samples: Bridge Facility Agreement, Single Currency Term Facility Agreement (General Geophysics Co)
Consolidation and division of Loans. (a) Subject to paragraph (b) below, if two (2) or more Interest Periods:
(i) relate to LoansLoans made under the same Tranche; and
(ii) end on the same date, ; those Loans will, unless the Borrower specifies to the contrary in the Selection Notice for the next Interest Period, be consolidated into, and treated as, a single Loan on the last day of that the Interest Period.
(b) Subject to Clause 4.3 (Maximum number of Loans) and Clause 5.3 (Currency and amount), if the Borrower requests in a Selection Notice that a Loan be divided into two (2) or more Loans, that Loan will, on the last day of its Interest Period, be so divided into the amounts specified in that Selection Notice, being an aggregate amount equal to the amount of the Loan immediately before its division.
Appears in 2 contracts
Samples: Single Currency Term Facility Agreement (Bristol Myers Squibb Co), Single Currency Term Facility Agreement (Bristol Myers Squibb Co)
Consolidation and division of Loans. (a) Subject to paragraph (b) below, if two (2) or more Interest Periods:
(i) relate to Loans; and
(ii) end on the same date, those Loans will, unless the Borrower specifies to the contrary in the Selection Notice for the next Interest Period, be consolidated into, and treated as, a single Loan on the last day of that the Interest Period.
(b) Subject to Clause 5.3 (Currency and amount), if the Borrower requests in a Selection Notice that a Loan be divided into two (2) or more Loans, that Loan will, on the last day of its Interest Period, be so divided into the amounts specified in that Selection Notice, being an aggregate amount equal to the amount of the Loan immediately before its division.
Appears in 2 contracts
Samples: Facility Agreement (Nordic Telephone CO ApS), Facility Agreement (Nordic Telephone CO ApS)
Consolidation and division of Loans. (a) Subject to paragraph (b) below, if two (2) or more Interest Periods:
(i) relate to Loans; and
(ii) Periods end on the same date, those Loans will, unless the Borrower specifies to the contrary in the Selection Notice for the next Interest Period, be consolidated into, and treated as, a single Loan on the last day of that the Interest Period.
(b) Subject to Clause 5.3 (Currency and amount), if the Borrower requests in a Selection Notice that a Loan be divided into two (2) or more Loans, that Loan will, on the last day of its Interest Period, be so divided into the amounts specified in that Selection Notice, being an aggregate amount equal to the amount of the Loan immediately before its division.
Appears in 2 contracts
Samples: Term and Letter of Credit Facility Agreement (Cascal B.V.), Subordinated Secured Term and Letter of Credit Facility Agreement (Cascal B.V.)
Consolidation and division of Loans. (a) Subject to paragraph (b) below, if two (2) or more Interest Periods:
(i) relate to Loans; and
(ii) Periods end on the same date, those Loans will, provided that they were made under the same Facility and unless the relevant Borrower specifies to the contrary in the Selection Notice for the next Interest Period, be consolidated into, and treated as, a single Loan on the last day of that the Interest Period.
(b) Subject to Clause 4.3 (Maximum number of Loans) and Clause 5.3 (Currency and amount), if the a Borrower requests in a Selection Notice that a Loan be divided into two (2) or more Loans, that Loan will, on the last day of its Interest Period, be so divided into the amounts specified in that Selection Notice, being an aggregate amount equal to the amount of the Loan immediately before its division.
Appears in 1 contract
Samples: Facilities Agreement (International Game Technology PLC)
Consolidation and division of Loans. (a) Subject to paragraph (b) below, if two (2) or more Interest Periods:
(i) relate to Loans; and
(ii) Periods end on the same date, the Loans to which those Loans Interest Periods relate will, unless the Borrower specifies to the contrary in the Selection Notice for the next Interest Period, be consolidated into, and treated as, a single Loan on the last day of that the Interest Period.
(b) Subject to Clause 4.2 (Maximum number of Loans) and Clause 5.3 (Currency and amount), if the Borrower requests in a Selection Notice that a Loan be divided into two (2) or more Loans, that Loan will, on the last day of its Interest Period, be so divided into the amounts specified in that Selection Notice, being an aggregate amount equal to the amount of the Loan immediately before its division.
Appears in 1 contract
Consolidation and division of Loans. (a) 9.4.1 Subject to paragraph (b) 9.4.2 below, if two (2) or more Interest Periods:
(i) relate to Loans; and
(ii) Periods end on the same date, the Loans to which those Loans Interest Periods relate will, unless the Borrower specifies to the contrary in the Selection Notice for the next Interest Period, be consolidated into, and treated as, a single Loan on the last day of that the Interest Period.
(b) 9.4.2 Subject to Clause 4.3 (Maximum number of Loans) and Clause 5.3 (Currency and amount), if the Borrower requests in a Selection Notice that a Loan be divided into two (2) or more Loans, that Loan will, on the last day of its Interest Period, be so divided into in the amounts specified in that Selection Notice, being an aggregate amount equal to the amount of the Loan immediately before its division.
Appears in 1 contract
Consolidation and division of Loans. (a) Subject to paragraph (b) below, if two (2) or more Interest Periods:
(i) Periods relate to Loans; and
(ii) Loans which end on the same date, those Loans will, unless the Borrower specifies to the contrary in the Selection Notice for the next Interest Period, be consolidated into, and treated as, a single Loan on the last day of that the Interest Period.
(b) Subject to Clause 5.3 (Currency and amount), if the Borrower requests in a Selection Notice that a Loan be divided into two (2) or more Loans, that Loan will, on the last day of its Interest Period, be so divided into the with amounts specified in that Selection Notice, being having an aggregate amount equal to the amount of the such Loan immediately before its division.
Appears in 1 contract
