Determination of Interest Period. By giving notice as set forth in Section 2.12(a), Borrowers shall select an Interest Period for such LIBOR Rate Loan. The determination of the Interest Period shall be subject to the following provisions:
(i) in the case of immediately successive Interest Periods, each successive Interest Period shall commence on the day on which the next preceding Interest Period expires;
(ii) if any Interest Period would otherwise expire on a day which is not a Business Day, the Interest Period shall be extended to expire on the next succeeding Business Day; provided, however, that if the next succeeding Business Day occurs in the following calendar month, then such Interest Period shall expire on the immediately preceding Business Day;
(iii) if any Interest Period begins on the last Business Day of a month, or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period, then the Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period; and
(iv) Administrative Borrower may not select an Interest Period which expires later than the date on which this Agreement is scheduled to terminate pursuant to Section 3.4 hereof.
Determination of Interest Period. By giving notice as set forth in Section 2.01(b) (with respect to a new Loan) or Section 4.01(c) (with respect to a conversion into or continuation of a Fixed Rate Loan), the Borrower shall have the option, subject to the other provisions of this Section 4.02, to select an interest period (each, an "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 Fixed Rate Loan, an Interest Period of either one (1), two (2), three (3) or, to the extent consented to by the Lender, six (6) months in duration;
(ii) In the case of immediately successive Interest Periods applicable to a Fixed Rate Loan, each successive Interest Period shall commence on the day on which the next preceding Interest Period expires;
(iii) If any Interest Period would otherwise expire on a day which is not a Business Day, such 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 shall be no succeeding Business Day in such calendar month, such Interest Period shall expire on the immediately preceding Business Day; Credit Agreement
(iv) The Borrower may not select an Interest Period as to any Loan if such Interest Period terminates later than the Termination Date;
(v) There shall be no more than ten (10) Interest Periods in the aggregate for Fixed Rate Loans denominated in Optional Currencies in effect at any one time; and
(vi) No Fixed Rate Loan may be borrowed on the Closing Date, and no Notice of Continuation/Conversion may be delivered prior to the Closing Date.
Determination of Interest Period. By giving a Notice of Borrowing pursuant to Section 2.2.4, the Borrower shall have the option, subject to the other provisions of this Section 2.15.1, to specify whether the Interest Period commencing on the date specified therein shall be a one, two, three, or six-month period; provided that:
(a) in the case of immediately successive Interest Periods, each successive Interest Period shall commence on the day on which the next preceding Interest Period expires;
(b) if any Interest Period otherwise would expire on a day that is not a Business Day, that Interest Period shall be extended to expire on the next succeeding Business Day; provided, however, that if any such Interest Period 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 that month, that Interest Period shall expire on the immediately preceding Business Day;
(c) any Interest Period 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, subject to paragraph (d) below, end on the last Business Day of a calendar month; and
(d) no Interest Period for any Loan shall extend beyond the Maturity Date for such Loan; and
(e) there shall not be more than four Interest Periods in effect with respect to the Loans at any time.
Determination of Interest Period. By giving notice as set forth in SECTION 2.06(b), a Borrower shall have the option, subject to the other provisions of this SECTION 2.07, to specify whether the Interest Period for such LIBOR Loan shall be a one, two, three or six month period. The determination of Interest Periods shall be subject to the following provisions:
(i) In the case of immediately successive Interest Periods, each successive Interest Period shall commence on the day on which the preceding Interest Period expires.
(ii) If any Interest Period would otherwise expire on a day which is not a Business Day, the Interest Period shall be extended to expire on the next succeeding Business Day; PROVIDED, HOWEVER, that if the next succeeding Business Day occurs in the following calendar month, then such Interest Period shall expire on the immediately preceding Business Day.
(iii) A Borrower may not select an Interest Period for any LIBOR Loan, which Interest Period expires later than the maturity date of such Loan.
(iv) A Borrower may not select an Interest Period with respect to any portion of such Borrower's Term Loans which extends beyond an installment payment date for such Term Loans unless, after giving effect to such selection, the portion of such Term Loans not subject to Interest Periods ending after such installment payment date is equal to or greater than the principal due on such installment payment date.
(v) A Borrower may not select an Interest Period with respect to any portion of such Borrower's Revolving Loans which extends beyond any date on which the Revolving Loan Commitment Amounts are scheduled to be reduced unless, after giving effect to such selection, the portion of the Revolving Loans not subject to Interest Periods ending after any such date is equal to or greater than any amount of the Revolving Loans required to be prepaid as a result of any such reduction.
(vi) There shall be no more than eight (8) Interest Periods in effect at any one time with respect to all the Loans and no more than four (4) Interest Periods in effect at any one time with respect to the Term B Loans.
Determination of Interest Period. The Interest Period for each -------------------------------- Eurodollar Rate Loan shall be for a three (3) month period. The determination of Interest Periods shall be subject to the following provisions:
(i) In the case of immediately successive Interest Periods, each successive Interest Period shall commence on the day on which the next preceding Interest Period expires.
(ii) If any Interest Period would otherwise expire on a day which is not a Business Day, the Interest Period shall be extended to expire on the next succeeding Business Day; provided, however, that if the next succeeding Business Day occurs in -------- ------- the following calendar month, then such Interest Period shall expire on the immediately preceding Business Day.
(iii) The Borrower may not select an Interest Period for any Eurodollar Rate Loan, which Interest Period expires later than the Termination Date.
(iv) There shall be not more than two (2) Interest Periods in effect at any one time, and no more than two (2) Interest Periods may begin during any calendar month.
(v) If an Interest Period starts on a date for which no numerical correspondent exists in the month in which such Interest Period ends, such Interest Period will end on the last Business Day of such month.
Determination of Interest Period. By giving notice as set forth in Section 3.2(b), the applicable Borrower shall have the option, subject to the other provisions of this Section 3.3, to specify whether the Interest Period for such LIBOR Loan shall be a one, two, three or six month period. The determination of Interest Periods shall be subject to the following provisions:
(1) In the case of immediately successive Interest Periods, each successive Interest Period shall commence on the day on which the next preceding Interest Period expires.
(2) If any Interest Period would otherwise expire on a day which is not a Business Day, the Interest Period shall be extended to expire on the next succeeding Business Day; provided, however, that if the next succeeding Business Day occurs in the following calendar month, then such Interest Period shall expire on the immediately preceding Business Day.
(3) No Borrower may select an Interest Period for any LIBOR Loan, which Interest Period expires later than the Stated Termination Date.
(4) There shall be no more than six (6) Interest Periods in effect at any one time.
Determination of Interest Period. By giving notice as set forth in Section 2.13 (a), the Borrower shall have the option of selecting a one, two, three or six month Interest Period for such Eurodollar Rate Loan. The determination of Interest Periods shall be subject to the following provisions:
Determination of Interest Period. By giving notice as set forth in -------------------------------- Section 2.06(b), a Borrower shall have the option, subject to the other --------------- provisions of this Section 2.07, to specify whether the Interest Period for such ------------ LIBOR Loan shall be a one, two, three or six month period. The determination of Interest Periods shall be subject to the following provisions:
(i) In the case of immediately successive Interest Periods, each successive Interest Period shall commence on the day on which the preceding Interest Period expires.
(ii) If any Interest Period would otherwise expire on a day which is not a Business Day, the Interest Period shall be extended to expire on the next succeeding Business Day; provided, however, that if the next succeeding Business Day -------- ------- FIRST PRIORITY LOAN AGREEMENT ----------------------------- occurs in the following calendar month, then such Interest Period shall expire on the immediately preceding Business Day.
(iii) Borrower may not select an Interest Period for any LIBOR Loan, which Interest Period expires later than the maturity date of such Loan.
(iv) There shall be no more than seven (7) Interest Periods in effect at any one time.
Determination of Interest Period. The following provisions shall apply to all Interest Periods:
(i) Each successive Interest Period shall commence on the day on which the next preceding Interest Period expires; and
(ii) If any Interest Period would otherwise expire on a day which is not a Business Day, such Interest Period shall be extended to expire on the next succeeding Business -55- 2076882.7 Day; provided, however, that if any such Interest Period would otherwise expire on a day which is not a Business Day but is a day of the month after which no further Business Day occurs in that month, such Interest Period shall expire on the immediately preceding Business Day.
Determination of Interest Period. The following provisions shall apply to all Interest Periods:
(a) In the case of immediately successive Interest Periods applicable to the borrowing at the LIBO Rate Option, each successive Interest Period shall commence on the day on which the next preceding Interest Period expires;
(b) If any Interest Period would otherwise expire on a day which is not a Business Day, such Interest Period shall be extended to expire on the next succeeding Business Day; provided, however, that if any such Interest Period applicable to a borrowing at the LIBO Rate Option would otherwise expire on a day which is not a Business Day but is a day of the month after which no further Business Day occurs in that month, such Interest Period shall expire on the immediately preceding Business Day;
(c) No Interest Period may terminate later than the Maturity Date; and
(d) There shall be no more than three (3) Interest Periods under this Note in effect at any one time in connection with the Loan.
