Default Interest Periods and Rates Sample Clauses

Default Interest Periods and Rates. Interest under this Clause 21 shall be calculated by reference to successive Default Interest Periods, each of which (other than the first, which shall begin on the due date) shall begin on the last day of the previous one. Each such Default Interest Period shall be of such period as the Bank may from time to time select and the rate of interest applicable for all or any part of a particular Default Interest Period shall be the rate per annum equal to the sum of 3% and the rate which would be applicable to that overdue sum for (or, as the case may be, for that part of) that Default Interest Period under Clause 8.2 (Normal Interest Rate) if that overdue sum were a non-overdue Advance, except as follows:
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Default Interest Periods and Rates. Interest under this Clause shall be calculated by reference to successive Interest Periods, each of which (other than the first, which shall begin on the due date) shall begin on the last day of the previous one. Each such Interest Period shall be of a period not exceeding one month or such other period as the Lender and the Borrower may from time to time agree and the rate of interest applicable for all or any part of a particular Interest Period relating to an Unpaid Sum shall be (i) (if that Unpaid Sum is of principal relating to a Loan) the rate per annum equal to the sum of two per cent. and the rate which would be applicable to that Unpaid Sum for (or, as the case may be, for that part of) that Interest Period under Clause 8.1 (Calculation of interest) as if that Unpaid Sum were a non-overdue Loan and (ii) (in any other case) the rate per annum equal to the sum of (A) two per cent., (B) the Margin and (C) LIBOR, except as follows: (i) if the Unpaid Sum is of principal of a Loan and becomes due on a day which was not the last day of an Interest Period relating to that Loan, the first Interest Period applicable to that Unpaid Sum shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; (ii) if the Unpaid Sum is of principal of a Loan, and any event equivalent to those mentioned in Clause 10.1 occurs in relation to any Interest Period applicable to an Unpaid Sum, the rate of interest payable on that Unpaid Sum for all or any part of that Interest Period shall be the sum of two per cent., the Margin and the cost to the Lender (as certified by it and expressed as a rate per annum) of funding (including, without limitation, the cost to the Lender occasioned by or attributable to complying with reserves, liquidity, deposit or other requirements imposed on the Lender by any relevant authority or authorities) that sum during that Interest Period by whatever means it reasonably determines to be appropriate; and (iii) any Interest Period relating to an Unpaid Sum which would otherwise end on a day which is not a Business Day shall instead end on the next Business Day in the same calendar month (if there is one) or the preceding Business Day (if there is not).
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Default Interest Periods and Rates. Interest under this Clause shall be calculated by reference to successive Interest Periods, each of which (other than the first, which shall begin on the due date) shall begin on the last day of the previous one. Each such Interest Period shall be of one month or such other period as the Facility Agent may from time to time select and the rate of interest applicable for all or any part of a particular Interest Period shall be the rate per annum equal to the sum of 2% and the 72 69 rate which would be applicable to that overdue sum for (or, as the case may be, for that part of) that Interest Period under Clauses 6.1 and 6.4 if that overdue sum were a non-overdue Advance, except as follows: 20.2.1 subject to the following exceptions, until the third Business Day after the Facility Agent becomes aware of the relevant default, each Interest Period relating to the relevant overdue sum shall be an "overnight" period beginning on one (1) Business Day and ending on the next and the rate of interest for a particular "overnight" period shall be the rate per annum equal to the sum of 2%, the Margin and the rate at which the Lender is offering "overnight" deposits in US Dollars or Singapore Dollars (as the case may be), for that period in amounts comparable to that overdue sum; 20.2.2 if the overdue sum is the principal portion of an Advance or the Outstandings and becomes due otherwise than on an Interest Payment Date relating to that Advance or the Outstandings, the first default Interest Period applicable to that overdue sum shall end on that Interest Payment Date and the rate of interest applicable to that sum for that Interest Period shall be the rate per annum equal to the sum of 2% and the rate applicable to it immediately before it became due; and 20.2.3 if any event equivalent to that mentioned in Clause 11.3 occurs in relation to any Interest Period applicable to an overdue sum, the rate of interest payable on that sum for all or any part of that Interest Period shall be the sum of 2%, the Margin and the cost to the Lender (as certified by it to the Facility Agent and expressed as a rate per annum) of funding that sum during that Interest Period by whatever means it determines to be appropriate (including the cost occasioned by or attributable to complying with reserves, liquidity, deposit or other requirements for the time being imposed on it by the relevant authority or authorities).
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Default Interest Periods and Rates. Under this clause 15.2 shall be calculated and payable by reference to successive Interest Periods, each of which (other than the first, which shall begin on the due date) shall begin on the last day of the previous one. Each such Interest Period shall be of 1 month period or such shorter period as the Lender may from time to time select and the rate of interest applicable for a particular Interest Period or any part thereof shall be the rate per annum equal to the sum of 2% and the rate which would be applicable to that Interest Period under clause 6 if that overdue sum was a principal amount which was not overdue.
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Default Interest Periods and Rates. Interest under this Clause shall be calculated by reference to successive Interest Periods, each of which
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Default Interest Periods and Rates. Interest under this Clause 22 shall be calculated by reference to successive Interest Periods, each of which (other than the first, which shall begin on the due date) shall begin on the last day of the previous one. Each such Interest Period shall be of 3 months or such shorter period as the Agent may from time to time select and the rate of interest applicable for all or any part of a particular Interest Period shall be the rate per annum equal to the sum of 1% and the rate which would be applicable to that overdue sum for (or, as the case may be, for that part of) that Interest Period under Clause 8.2 if that overdue sum were a non-overdue Advance, except as follows: 22.2.1 Subject to Clauses 22.2.2 and 22.2.3, until the third Business Day after the Agent first becomes aware of the relevant default, the Agent may require that each Interest Period relating to the relevant overdue sum shall be an "overnight" period beginning on one Business Day and ending on the next. The rate of interest for a particular "overnight" period shall be the rate per annum equal to the sum of 1%, the Margin, the Mandatory Costs (if any) and LIBOR or, in the case of an overnight sum denominated in Euro, EONIA for that Interest Period. 22.2.2 If the overdue sum is of principal of an Advance and becomes due before the Repayment Date of that Advance, the first Interest Period applicable to that overdue sum shall end on that Repayment Date and the rate of interest applicable to that sum for that Interest Period shall be the rate per annum equal to the sum of 1% and the rate applicable to it immediately before it became due.
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Default Interest Periods and Rates. Interest under this Clause shall be ----------------------------------- calculated by reference to successive interest periods, each of which (other than the first, which shall begin on the due date) shall begin on the last day of the previous one. Each such interest period shall be of one month or such shorter period as the Lender may from time to time select and the rate of interest applicable for all or any part of a particular interest period A. Singapore branch prevailing from time to time (as certified by it and expressed as a rate per annum).
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Related to Default Interest Periods and Rates

  • 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.

  • Additional Interest on Eurodollar Rate Advances The Borrower shall pay to each Lender, so long as such Lender shall be required under regulations of the Board of Governors of the Federal Reserve System to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency Liabilities, additional interest on the unpaid principal amount of each Eurodollar Rate Advance of such Lender, from the date of such Advance until such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the Eurodollar Rate for the Interest Period for such Advance from (ii) the rate obtained by dividing such Eurodollar Rate by a percentage equal to 100% minus the Eurodollar Rate Reserve Percentage of such Lender for such Interest Period, payable on each date on which interest is payable on such Advance. Such additional interest shall be determined by such Lender and notified to the Borrower through the Administrative Agent, and such determination shall be conclusive and binding for all purposes, absent manifest error.

  • 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.

  • Default Interest Rate From and after the occurrence of any Event of Default, and so long as any such Event of Default remains unremedied or uncured thereafter, the Obligations outstanding under the Agreement shall bear interest at a per annum rate of five percent (5%) above the otherwise applicable interest rate hereunder, which interest shall be payable upon demand. In addition to the foregoing, a late payment charge equal to five percent (5%) of each late payment hereunder may be charged on any payment not received by Bank within ten (10) calendar days after the payment due date therefor, but acceptance of payment of any such charge shall not constitute a waiver of any Event of Default under the Agreement. In no event shall the interest payable under this Addendum and the Agreement at any time exceed the maximum rate permitted by law.

  • Interest Period Commencing on the first (1st) Payment Date of the month following the month in which the Funding Date of the applicable Term Loan Advance occurs, and continuing on each Payment Date thereafter, Borrower shall make monthly payments of interest on the principal amount of each Term Loan Advance at the rate set forth in Section 2.2(a).

  • 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: (i) the Interest Period shall commence on the date of advance of or conversion to any LIBOR Rate Loan or and, in the case of immediately successive Interest Periods, each successive Interest Period shall commence on the date on which the next preceding Interest Period expires; (ii) if any Interest Period would otherwise expire on a day that is not a Business Day, such Interest Period shall expire on the next succeeding Business Day; provided, that if any Interest Period with respect to a LIBOR Rate Loan would otherwise expire on a day that is not a Business Day but is a day of the month after which no further Business Day occurs in such month, such Interest Period shall expire on the next preceding Business Day; (iii) any Interest Period with respect to a LIBOR Rate Loan that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the relevant calendar month at the end of such Interest Period; (iv) no Interest Period shall be permitted to extend beyond the Termination Date; and (v) there shall be no more than five (5) Interest Periods outstanding at any time.

  • 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.

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

  • Default Interest; Other Amounts Prior to the occurrence or effective designation of an Early Termination Date in respect of the relevant Transaction, a party that defaults in the performance of any payment obligation will, to the extent permitted by law and subject to Section 6(c), be required to pay interest (before as well as after judgment) on the overdue amount to the other party on demand in the same currency as such overdue amount, for the period from (and including) the original due date for payment to (but excluding) the date of actual payment, at the Default Rate. Such interest will be calculated on the basis of daily compounding and the actual number of days elapsed. If, prior to the occurrence or effective designation of an Early Termination Date in respect of the relevant Transaction, a party defaults in the performance of any obligation required to be settled by delivery, it will compensate the other party on demand if and to the extent provided for in the relevant Confirmation or elsewhere in this Agreement.

  • Interest on Revolving Loans The outstanding principal amount of each Revolving Loan made by each Lender shall bear interest at a fluctuating rate per annum that shall at all times be equal to (i) during such periods as such Revolving Loan is a Base Rate Loan, the Base Rate plus the Applicable Revolving Loan Margin and (ii) during such periods as such Revolving Loan is a Eurodollar Loan, the relevant Adjusted Eurodollar Rate for such Eurodollar Loan for the applicable Interest Period plus the Applicable Revolving Loan Margin.

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