Common use of Determination of Eurodollar Interest Period Clause in Contracts

Determination of Eurodollar Interest Period. By giving notice as set forth in Section 2.1(b) (with respect to a Borrowing of Eurodollar Rate Loans) or Section 5.1(c) (with respect to a conversion into or continuation of Eurodollar Rate Loans), the Borrower shall have the option, subject to the other provisions of this Section 5.2, to select an interest period (each, a "Eurodollar Interest Period") to apply to the Loans described in such notice, subject to the following provisions: (i) The Borrower may only select, as to a particular Borrowing of Eurodollar Rate Loans, a Eurodollar Interest Period of one, two, three or six months in duration or, with the prior written consent of the Administrative Agent, a shorter or a longer duration; (ii) In the case of immediately successive Eurodollar Interest Periods applicable to a Borrowing of Eurodollar Rate Loans, each successive Eurodollar Interest Period shall commence on the day on which the next preceding Eurodollar Interest Period expires; (iii) If any Eurodollar Interest Period would otherwise expire on a day which is not a Business Day, such Eurodollar Interest Period shall be extended to expire on the next succeeding Business Day, if the next succeeding Business Day occurs in the same calendar month, and, if there will be no succeeding Business Day in such calendar month, the Eurodollar Interest Period shall expire on the immediately preceding Business Day; (iv) The Borrower may not select a Eurodollar Interest Period as to any Loan if such Eurodollar Interest Period terminates later than the Maturity Date; and (v) There shall be no more than six (6) Eurodollar Rate Loans outstanding at any one time.

Appears in 1 contract

Samples: Term Loan Agreement (General Growth Properties Inc)

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Determination of Eurodollar Interest Period. By giving notice as set forth in Section 2.1(b2.01(b) (with respect to a Borrowing of Eurodollar Rate LoansLoans after the Effective Date) or Section 5.1(c2.03(c) (with respect to a conversion into or continuation of Eurodollar Rate Loans), the Borrower Company shall have the option, subject to the other provisions of this Section 5.22.07, to select specify an interest period (each, each a "Eurodollar Interest PeriodEURODOLLAR INTEREST PERIOD") to apply to the Borrowing of Eurodollar Rate Loans described in such notice, which Eurodollar Interest Period shall be a period of either one, two, three, six or, if available to each of the Senior Lenders, twelve months. The determination of Eurodollar Interest Periods shall be subject to the following provisions: : (i) The Borrower may only select, as to a particular Borrowing of Eurodollar Rate Loans, a Eurodollar Interest Period of one, two, three or six months in duration or, with the prior written consent of the Administrative Agent, a shorter or a longer duration; (ii) In the case of immediately successive Eurodollar Interest Periods Period applicable to a Borrowing of Eurodollar Rate Loans, each successive Eurodollar Interest Period shall commence on the day on which the next immediately preceding Eurodollar Interest Period expires; ; (iiiii) If any Eurodollar Interest Period would otherwise expire on a day which is not a Business Day, such the Eurodollar Interest Period shall be extended to expire on the next succeeding Business Day; provided, that if any such Eurodollar Interest Period applicable to a Borrowing of Eurodollar Rate Loans would otherwise expire on a day which is not a Business Day but is a day of the next succeeding month after which no further Business Day occurs in the same calendar that month, and, if there will be no succeeding Business Day in such calendar month, the that Eurodollar Interest Period shall expire on the immediately preceding Business Day; (iv) The Borrower may not select a Eurodollar Interest Period as to any Loan if such Eurodollar Interest Period terminates later than the Maturity Date; and (v) There shall be no more than six (6) Eurodollar Rate Loans outstanding at any one time.

Appears in 1 contract

Samples: Credit Agreement (7 Eleven Inc)

Determination of Eurodollar Interest Period. By giving notice as set forth in Section 2.1(b2.01(b) (with respect to a Borrowing of Eurodollar Rate Loans) or Section 5.1(c4.01(c) (with respect to a conversion into or continuation of Eurodollar Rate Loans), the Borrower shall have the option, subject to the other provisions of this Section 5.24.02, to select an interest period (each, a "β€œEurodollar Interest Period"”) to apply to the Loans described in such notice, subject to the following provisions: (i) The Borrower may only select, as to a particular Borrowing of Eurodollar Rate Loans, a Eurodollar Interest Period of either one, two, three or six months in duration or, with the prior written consent of the Administrative Agent, a shorter or a longer duration; (ii) In the case of immediately successive Eurodollar Interest Periods applicable to a Borrowing of Eurodollar Rate Loans, each successive Eurodollar Interest Period shall commence on the day on which the next preceding Eurodollar Interest Period expires; (iii) If any Eurodollar Interest Period would otherwise expire on a day which is not a Business Day, such Eurodollar Interest Period shall be extended to expire on the next succeeding Business Day, Day if the next succeeding Business Day occurs in the same calendar month, and, and if there will shall be no succeeding Business Day in such calendar month, the such Eurodollar Interest Period shall expire on the immediately preceding Business Day; (iv) The Borrower may not select a Eurodollar Interest Period as to any Revolving Loan if such Eurodollar Interest Period terminates later than the Revolving Loan Maturity Date; and (v) There shall be no more than six (6) Eurodollar Rate Loans outstanding Interest Periods in effect at any one time.

Appears in 1 contract

Samples: Credit Agreement (Watson Pharmaceuticals Inc)

Determination of Eurodollar Interest Period. By giving notice as set forth in Section 2.1(b) (with respect to a Borrowing of Eurodollar Rate Loans) ), or Section 5.1(c) (with respect to a conversion into or continuation of Eurodollar Rate Loans), the Borrower shall have the option, subject to the other provisions of this Section 5.2, to select an interest period (each, a an "Eurodollar Interest Period") to apply to the Loans described in such notice, subject to the following provisions: (i) The Borrower may only select, as to a particular Borrowing of Eurodollar Rate Loans, an Interest Period (each, a "Eurodollar Interest Period Period") of one, two, three or six months in duration duration, or, with the prior written consent of the Administrative AgentLenders, a shorter or longer duration, provided, however, that in order to facilitate the sale of assets and the repayment of Indebtedness, no more frequently than twelve (12) times in any twelve (12) month period, the Borrower may select a longer Eurodollar Interest Period of less than one month in duration; (ii) In the case of immediately successive Eurodollar Interest Periods applicable to a Borrowing of Eurodollar Rate Loans, each successive Eurodollar Interest Period shall commence on the day on which the next preceding Eurodollar Interest Period expires; (iii) If any Eurodollar Interest Period would otherwise expire on a day which is not a Business Day, such Eurodollar Interest Period shall be extended to expire on the next succeeding Business Day, Day if the next succeeding Business Day occurs in the same calendar month, and, and if there will be no succeeding Business Day in such calendar month, the Eurodollar Interest Period shall expire on the immediately preceding Business Day; (iv) The Borrower may not select a Eurodollar Interest Period as to any Loan if such Eurodollar Interest Period terminates later than the Maturity Date; and (v) There shall be no more than six (6) Eurodollar Rate Loans outstanding at any one time.Euro-

Appears in 1 contract

Samples: Credit Agreement (SPG Realty Consultants Inc)

Determination of Eurodollar Interest Period. By giving notice as set forth in Section 2.1(b2.01(b) (with respect to a Borrowing of Eurodollar Rate Loans) or Section 5.1(c5.01(e) (with respect to a conversion into or continuation of Eurodollar Rate Loans), the Borrower Borrowers shall have the option, subject to the other provisions of this Section 5.25.03, to select an interest period (each, each a "Eurodollar Interest Period") to apply to the Revolving Loans described in such notice, subject to the following provisions: (i) The Borrower Borrowers may only select, as to a particular Borrowing of Eurodollar Rate Loans, a Eurodollar Interest Period of one, twoone (1), three (3), six (6), or, if available to all Lenders, nine (9) or six twelve (12) months in duration or, with the prior written consent of the Administrative Agent, a shorter or a longer duration; (ii) In the case of immediately successive Eurodollar Interest Periods applicable to a Borrowing of Eurodollar Rate Loans, each successive Eurodollar Interest Period shall commence on the day on which the next preceding Eurodollar Interest Period expires; (iii) If any Eurodollar Interest Period would otherwise expire on a day which is not a Business Day, such Eurodollar Interest Period shall be extended to expire on the next succeeding Business Day, Day if the next succeeding Business Day occurs in the same calendar month, and, and if there will be no succeeding Business Day in such calendar month, the Eurodollar Interest Period shall expire on the immediately preceding Business Day; (iv) The Borrower Borrowers may not select a Eurodollar Interest Period as to any Loan if such Eurodollar Interest Period terminates later than the Maturity scheduled Revolving Credit Termination Date; (v) The Borrowers may not select a Eurodollar Interest Period with respect to any portion of principal of a Loan which extends beyond a date on which the Borrowers are required to make a scheduled payment of such portion of principal; and (vvi) There shall be no more than six eight (6) 8) Eurodollar Rate Loans outstanding Interest Periods in effect at any one time.

Appears in 1 contract

Samples: Credit Agreement (Timco Aviation Services Inc)

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Determination of Eurodollar Interest Period. By giving notice as set forth in Section 2.1(b2.01(b) (with respect to a Borrowing of Eurodollar Rate Loans) or Section 5.1(c5.01(e) (with respect to a conversion into or continuation of Eurodollar Rate Loans), the Borrower Borrowers shall have the option, subject to the other provisions of this Section 5.25.03, to select an interest period (each, each a "Eurodollar Interest Period") to apply to the Loans described in such notice, subject to the following provisions: (i) The Borrower Borrowers may only select, as to a particular Borrowing of Eurodollar Rate Loans, a Eurodollar Interest Period of one, twoone (1), three (3), six (6), or, if available to all Lenders, nine (9) or six twelve (12) months in duration or, with the prior written consent of the Administrative Agent, a shorter or a longer duration; (ii) In the case of immediately successive Eurodollar Interest Periods applicable to a Borrowing of Eurodollar Rate Loans, each successive Eurodollar Interest Period shall commence on the day on which the next preceding Eurodollar Interest Period expires; (iii) If any Eurodollar Interest Period would otherwise expire on a day which is not a Business Day, such Eurodollar Interest Period shall be extended to expire on the next succeeding Business Day, Day if the next succeeding Business Day occurs in the same calendar month, and, and if there will be no succeeding Business Day in such calendar month, the Eurodollar Interest Period shall expire on the immediately preceding Business Day; (iv) The Borrower Borrowers may not select a Eurodollar Interest Period as to any Loan if such Eurodollar Interest Period terminates later than the Maturity scheduled Revolving Credit Termination Date; (v) The Borrowers may not select a Eurodollar Interest Period with respect to any portion of principal of a Loan which extends beyond a date on which the Borrowers are required to make a scheduled payment of such portion of principal; and (vvi) There shall be no more than six eight (6) 8) Eurodollar Rate Loans outstanding Interest Periods in effect at any one time.

Appears in 1 contract

Samples: Credit Agreement (Aviation Sales Co)

Determination of Eurodollar Interest Period. By giving notice as set forth in Section 2.1(b) (with respect to a Borrowing of Eurodollar Rate Loans) or Section 5.1(c) (with respect to a conversion into or continuation of Eurodollar Rate Loans), the Borrower shall have the option, subject to the other provisions of this Section 5.2, to select an interest period (each, a "Eurodollar Interest Period") to apply to the Loans described in such notice, subject to the following provisions: (i) The Borrower may only select, as to a particular Borrowing of Eurodollar Rate Loans, a Eurodollar Interest Period of one, two, three or six months in duration or, with the prior written consent of the Administrative Agent, a shorter or a longer duration; (ii) In the case of immediately successive Eurodollar Interest Periods applicable to a Borrowing of Eurodollar Rate Loans, each successive Eurodollar Interest Period shall commence on the day on which the next preceding Eurodollar Interest Period expires; (iii) If any Eurodollar Interest Period would otherwise expire on a day which is not a Business Day, such Eurodollar Interest Period shall be extended to expire on the next succeeding Business Day, if the next succeeding Business Day occurs in the same calendar month, and, if there will be no succeeding Business Day in such calendar month, the Eurodollar Interest Period shall expire on the immediately preceding Business Day; (iv) The Borrower may not select a Eurodollar Interest Period as to any Loan if such Eurodollar Interest Period terminates later than the Maturity Revolving Credit Termination Date; and (v) There shall be no more than six (6) Eurodollar Rate Loans outstanding at any one time.

Appears in 1 contract

Samples: Revolving Credit Agreement (General Growth Properties Inc)

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