Default Interest Periods. Interest under this clause 18 shall be calculated by reference to successive periods, each of which (other than the first, which shall begin on the due date for payment or, as the case may be, the date of judgment as referred to in clause 18.1) shall begin on the last day of the preceding period. Each such period shall be of such duration as the Agent may select.
Appears in 4 contracts
Samples: Credit Agreement (Bell Microproducts Inc), Credit Agreement (Bell Microproducts Inc), Credit Agreement (Bell Microproducts Inc)