Common use of Determination of Interest Periods Clause in Contracts

Determination of Interest Periods. Subject to Clause 3.3.1 every Interest Period shall be of the duration specified by the Borrowers pursuant to 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 relevant Repayment Date, then the relevant Tranche shall be divided into parts so that there is one part in the amount of the repayment instalment due on such Repayment Date and having an Interest Period ending on the relevant Repayment Date and another part in the amount of the balance of that Tranche having an Interest Period ascertained in accordance with clause 3.2 and the other provisions of this clause 3.3; 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.

Determination of Interest Periods. Subject to Clause 3.3.1 every Every Interest Period shall be of the duration specified by the Borrowers pursuant to clause 3.2 but so that: 3.3.1 the first Interest Period in respect of each Tranche Advance shall start commence on the Drawdown Date in respect of the first date on which such Advance in respect of that Tranche, is drawn down and each subsequent Interest Period shall start commence on the last day of the previous Interest PeriodPeriod for such Advance; 3.3.2 the first if any Interest Period in respect of each subsequent an 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 relevant Repayment DateDate in respect of such Advance, then then, in the relevant Tranche case of the last Repayment Date for such Advance, such Interest Period shall end on such Repayment Date for such Advance, and in the case of any other Repayment Date or Repayment Dates for such Advance, such Advance shall be divided into parts so that there is one part in the amount of the repayment instalment due on such each Repayment Date falling during that Interest Period and having an Interest Period ending on the relevant Repayment Date for such Advance and another part in the amount of the balance of that Tranche such Advance having an Interest Period ascertained in accordance with clause 3.2 and the other provisions of this clause 3.3; and 3.3.4 3.3.3 if the Borrowers fail to specify the length duration of an Interest Period in accordance with the provisions of clause 3.2 and this clause 3.3 such Interest Period shall last have a duration of three (3) months or such other period as complies shall comply with this clause 3.3.

Determination of Interest Periods. Subject to Clause 3.3.1 every Every Interest Period shall be of the duration specified by the Borrowers Borrower pursuant to clause 3.2 but so that: 3.3.1 the first Interest Period in respect of each Tranche Advance shall start on the its Drawdown Date in respect of the first Advance in respect of that Tranchethereof, 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 relevant Repayment Date, then 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 Advance shall be divided into parts so that there is one part in the amount of the repayment instalment due on such each Repayment Date falling in that Interest Period and having an Interest Period ending on the relevant Repayment Date and another part in the amount consisting of the balance of that Tranche the relevant Advance having an Interest Period ascertained in accordance with clause 3.2 and the other provisions of this clause 3.3; and3; 3.3.4 3.3.3 if the Borrowers fail Borrower fails to specify the length duration of an Interest Period in accordance with the provisions of clause 3.2 and this clause 3.3 such Interest Period shall last have a duration of three (3) months or such other period as complies shall comply with this clause 3.3.

Determination of Interest Periods. Subject to Clause 3.3.1 every Every Interest Period shall be of the duration specified by the Borrowers pursuant to clause 3.2 but so that: 3.3.1 the first Interest Period in respect of each Tranche Advance shall start commence on the Drawdown Date in respect of the first date on which such Advance in respect of that Tranche, is drawn down and each subsequent Interest Period shall start commence on the last day of the previous Interest PeriodPeriod for such Advance; 3.3.2 the first initial Interest Period of each Advance in respect of each subsequent a Borrower’s Ship after the First Advance in respect of that Borrower’s Ship shall commence end on its Drawdown Date and terminate simultaneously with the same date as the then current Interest Period which is then current for the Tranche under which drawn Advances for that Borrower’s Ship and, on the Advance is made availablelast day of such Interest Period, all drawn Advances for that Borrower’s Ship shall be consolidated in one amount for the purposes of this clause 3; 3.3.3 if any Interest Period for an Advance would otherwise overrun a relevant the Repayment DateDate for that Advance, then the relevant Tranche such Interest Period shall be divided into parts so that there is one part in the amount of the repayment instalment due end on such Repayment Date and having an Interest Period ending on the relevant Repayment Date and another part in the amount of the balance of that Tranche having an Interest Period ascertained in accordance with clause 3.2 and the other provisions of this clause 3.3Date; and 3.3.4 if the Borrowers fail to specify the length duration of an Interest Period in accordance with the provisions of clause 3.2 and this clause 3.3 such Interest Period shall last have a duration of three (3) months or such other period as complies shall comply with this clause 3.3.

Determination of Interest Periods. Subject to Clause 3.3.1 every Every Interest Period shall be of the duration specified by the Borrowers pursuant to clause 3.2 but so that: 3.3.1 the first initial Interest Period in respect of for each Tranche Advance shall start commence on the Drawdown Date in respect of the first for such Advance in respect of that Tranche, and each subsequent Interest Period for an Advance shall start commence on the last day of the previous Interest PeriodPeriod for that Advance; 3.3.2 the first Interest Period if one or more Advances in respect of each subsequent Advance a Ship are to be drawn down on the same day they shall commence on its Drawdown Date and terminate simultaneously with have the same Interest Period which is then current for the Tranche under which the Advance is made availablePeriods at all times; 3.3.3 the initial Interest Period of each Advance to be drawn down in respect of a Ship (other than the First Advance for that Ship) shall end on the same date as the then current Interest Period of the Advances for that Ship and, on the last day of such interest Period, the Advances for that Ship shall be consolidated for the purposes of this clause 3; 3.3.4 if any Interest Period for an Advance would otherwise overrun a relevant the Repayment DateDate for that Advance, then the relevant Tranche such Interest Period shall be divided into parts so that there is one part in the amount of the repayment instalment due end on such Repayment Date and having an Interest Period ending on the relevant Repayment Date and another part in the amount of the balance of that Tranche having an Interest Period ascertained in accordance with clause 3.2 and the other provisions of this clause 3.3Date; and 3.3.4 3.3.5 if the Borrowers fail to specify the length duration of an Interest Period in accordance with the provisions of clause 3.2 and this clause 3.3 such Interest Period shall last have a duration of three (3) months or such other period as complies shall comply with this clause 3.3.

Determination of Interest Periods. Subject to Clause 3.3.1 every Every Interest Period shall be of the duration specified by the Borrowers pursuant to clause 3.2 3.2, but so that: 3.3.1 the first initial Interest Period in respect of each Tranche Advance shall start commence on the Drawdown Date in respect of the first date such Advance in respect of that Tranche, is made and each subsequent Interest Period for such Advance shall start commence on the last day of the previous Interest PeriodPeriod for such Advance; 3.3.2 the first initial Interest Period in respect of each subsequent Advance for a Ship drawn down after the first Advance to be drawn down shall commence end on its Drawdown Date and terminate simultaneously with the same day as the then current Interest Period which is then current for the Tranche under which Loan and on such day, all Advances then outstanding shall be consolidated into, and shall thereafter constitute, the Advance is made availableLoan; 3.3.3 if any Interest Period would otherwise overrun a relevant Repayment Date, then then, in the relevant Tranche case of the last Repayment Date, such Interest Period shall end on such Repayment Date, and in the case of any other Repayment Date or Repayment Dates, the Loan shall be divided into parts so that there is one part in the amount of the repayment instalment or instalments due on such each Repayment Date falling during that Interest Period and having an Interest Period ending on the relevant Repayment Date and another part in the amount of the balance of that Tranche the Loan having an Interest Period ascertained in accordance with clause 3.2 and the other provisions of this clause 3.3; and 3.3.4 if the Borrowers fail to specify the length duration of an Interest Period in accordance with the provisions of clause 3.2 and this clause 3.3 such Interest Period shall last have a duration of three (3) months or such other period as complies shall comply with this clause 3.3.

Determination of Interest Periods. Subject to Clause 3.3.1 every Every Interest Period shall be of the duration specified by the Borrowers pursuant to clause 3.2 3.2, but so that: 3.3.1 the first initial Interest Period in respect of each Tranche Advance shall start commence on the Drawdown Date in respect of the first for such Advance in respect of that Tranche, and each subsequent Interest Period for such Advance shall start commence on the last day of the previous Interest PeriodPeriod for such Advance; 3.3.2 the first initial Interest Period in respect for each Advance (other than the first Advance to be drawn down) shall end on the last day of each subsequent Advance shall commence on its Drawdown Date and terminate simultaneously with the then current Interest Period which is then current for the Tranche under which Loan and, on such day, the Advance is made availabledrawn Advances shall be consolidated into and shall thereafter constitute the Loan; 3.3.3 if any Interest Period would otherwise overrun a relevant the Repayment Date, then the relevant Tranche shall be divided into parts so that there is one part in the amount of the repayment instalment due on such Repayment Date and having an Interest Period ending shall end on the relevant Repayment Date and another part in the amount of the balance of that Tranche having an Interest Period ascertained in accordance with clause 3.2 and the other provisions of this clause 3.3Date; and 3.3.4 if the Borrowers fail to specify the length duration of an Interest Period in accordance with the provisions of clause 3.2 and this clause 3.3 such Interest Period shall last have a duration of three (3) months or such other period as complies shall comply with this clause 3.3.

Determination of Interest Periods. Subject to Clause 3.3.1 every The length of each Interest Period shall be of the duration specified as requested by the Borrowers pursuant to under clause 3.2 but so that: 3.3.1 the first Interest Period in respect of each Tranche the first Advance to be made hereunder shall start on the Drawdown Date in respect of the first Advance in respect of that Tranchethereof, and each subsequent Interest Period relating to the first Advance shall start on the day falling the day after the last day of the previous Interest Period; 3.3.2 the first Interest Period in respect of each subsequent Advance to be made hereunder shall commence on its Drawdown Date and terminate simultaneously with the Interest Period which is then current for the Tranche under which Loan and each subsequent Interest Period shall start the Advance is made availableday falling the day after the last day of the previous Interest Period; 3.3.3 if any Interest Period would otherwise overrun a relevant Repayment Date, then then, in the case of the last Repayment Date, such Interest Period shall end on the last Repayment Date, and in the case of any other Repayment Date the relevant Tranche Advance shall be divided into parts so that there is one part in the amount of the repayment instalment due on such each Repayment Date falling in that Interest Period and having an Interest Period ending on the relevant Repayment Date and another part in the amount consisting of the balance of that Tranche the relevant Advance having an Interest Period ascertained in accordance with clause 3.2 and the other provisions of this clause 3.33; 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.

Determination of Interest Periods. Subject to Clause 3.3.1 every Every Interest Period shall be of the duration required by, or specified by the Borrowers pursuant to to, clause 3.2 but so that: 3.3.1 the first Interest Period in respect of each Tranche Advance shall start commence on the Drawdown Date in respect of the first for such Advance in respect of that Tranche, and each subsequent Interest Period for such Advance shall start commence on the last day of the previous Interest PeriodPeriod for such Advance; 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 for an Advance would otherwise overrun a relevant Repayment Date for such Advance, then, in the case of the last Repayment Date for such Advance, such Interest Period shall end on such Repayment Date, then and in the case of any other Repayment Date or Repayment Dates for such Advance, the relevant Tranche Advance shall be divided into parts so that there is one part in the amount of the repayment instalment or instalments due on such each Repayment Date for such Advance falling during that Interest Period and having an Interest Period ending on the relevant Repayment Date and another part in the amount of the balance of that Tranche the relevant Advance having an Interest Period ascertained in accordance with clause 3.2 and the other provisions of this clause 3.3; and 3.3.4 3.3.3 if the Borrowers fail to specify the length duration of an Interest Period in accordance with the provisions of clause 3.2 and this clause 3.3 such Interest Period shall last have a duration of three (3) months or such other period as complies shall comply with this clause 3.3.

Determination of Interest Periods. Subject to Clause 3.3.1 every Every Interest Period shall be of the duration specified by the Borrowers pursuant to clause 3.2 but so that: 3.3.1 the first initial Interest Period in respect of each Tranche Advance shall start commence on the Drawdown Date in respect of the first for such Advance in respect of that Tranche, and each subsequent Interest Period for such Advance shall start commence on the last day of the previous Interest PeriodPeriod for such Advance; 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 for an Advance would otherwise overrun a relevant Repayment Date for such Advance, then, in the case of the last Repayment Date for such Advance, such Interest Period shall end on such Repayment Date, then and in the case of any other Repayment Date or Repayment Dates for such Advance, the relevant Tranche Advance shall be divided into parts so that there is one part in the amount of the repayment instalment due on such each Repayment Date for such Advance falling during that Interest Period and having an Interest Period ending on the relevant Repayment Date and another part in the amount of the balance of that Tranche the relevant Advance having an Interest Period ascertained in accordance with clause 3.2 and the other provisions of this clause 3.3; and 3.3.4 3.3.3 if the Borrowers fail to specify the length duration of an Interest Period in accordance with the provisions of clause 3.2 and this clause 3.3 such Interest Period shall last have a duration of three (3) months or such other period as complies shall comply with this clause 3.3.

Determination of Interest Periods. Subject to Clause 3.3.1 every Interest Period shall be of the duration specified by the Borrowers pursuant to 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 of a Tranche would otherwise overrun a relevant Repayment Date, then the relevant Tranche shall be divided into parts so that there is one part in the amount of the repayment instalment due on such Repayment Date and having an Interest Period ending on the relevant Repayment Date and another part in the amount of the balance of that Tranche having an Interest Period ascertained in accordance with clause 3.2 and the other provisions of this clause 3.3; 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.

Determination of Interest Periods. Subject to Clause 3.3.1 every Every Interest Period shall be of the duration specified by the Borrowers pursuant to clause 3.2 but so that: 3.3.1 the first initial Interest Period in respect of each Tranche Advance shall start commence on the Drawdown Date in respect of the first date such Advance in respect of that Tranche, is made and each subsequent Interest Period in respect of such Advance shall start commence 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 availablesuch Advance; 3.3.3 3.3.2 if any Interest Period would otherwise overrun a relevant Repayment Date for an Advance, then, in the case of the last Repayment Date for such Advance, such Interest Period shall end on such Repayment Date, then and in the relevant Tranche case of any other Repayment Date or Repayment Dates for such Advance, such Advance shall be divided into parts so that there is one part in the amount of the repayment instalment due on such each Repayment Date for such Advance failing during that Interest Period and having an Interest Period ending on the relevant Repayment Date for such Advance and another part in the amount of the balance of that Tranche such Advance having an Interest Period ascertained in accordance with clause 3.2 and the other provisions of this clause 3.3; and 3.3.4 3.3.3 if the Borrowers fail to specify the length duration of an Interest Period in accordance with the provisions of clause 3.2 and this clause 3.3 such Interest Period shall last three have a duration of six (6) months or such other period as complies shall comply with this clause 3.3.

Determination of Interest Periods. Subject to Clause 3.3.1 every Every Interest Period shall be of the duration specified by the Borrowers pursuant to clause 3.2 but so that: 3.3.1 the first Interest Period in respect of for each Tranche Advance shall start on the Drawdown Date in respect of the first date that Advance in respect of that Tranche, is advanced and each subsequent Interest Period for that Advance shall start on the last day of the previous Interest PeriodPeriod for that Advance provided that after drawdown of the second Advance hereunder Borrower shall select the Interest Period in relation to the first Advance to be made available so that such Interest Period terminates simultaneously with the then current Interest Period for such second Advance; 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 relevant Repayment Date, then the relevant Tranche Loan shall be divided into parts so that there is one part in the amount of the repayment instalment due on such Repayment Date and having an Interest Period ending on the relevant Repayment Date and another part in the amount of the balance of that Tranche the Loan having an Interest Period ascertained in accordance with clause 3.2 and the other provisions of this clause 3.3; and; 3.3.4 3.3.3 if the Borrowers fail to specify the length duration of an Interest Period in accordance with the provisions of clause 3.2 and this clause 3.3 such Interest Period shall last have a duration of three (3) months or such other period as complies shall comply with this clause 3.3.

Determination of Interest Periods. Subject to Clause 3.3.1 paragraph (i) of Part 5 of the Schedule to the Master Swap Agreement, every Interest Period shall be of the duration specified by the Borrowers Borrower pursuant to clause 3.2 but so that: 3.3.1 the first Interest Period in respect of each Tranche an Advance shall start commence on the Drawdown Date in respect of the first Advance in respect of that Tranche, and each subsequent Interest Period in respect of such Advance shall start commence 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 availablesuch Advance; 3.3.3 3.3.2 if any Interest Period would otherwise overrun a relevant Repayment Date, then then, in the relevant Tranche case of the last Repayment Date, such Interest Period shall end on such Repayment Date, and in the case of any other Repayment Date or Repayment Dates, the Advance or, if more than one, the aggregate of the Advances shall be divided into parts so that there is one part (in the case of more than one Advance to be calculated on pro-rata basis between the Advances in the aggregate Dollar Amount of all such Advances) in the amount of the repayment instalment due on such each Repayment Date falling during that Interest Period and having an Interest Period ending on the relevant Repayment Date and another part (in the case of more than one Advance to be calculated on a pro-rata basis between the Advances in the aggregate Dollar Amount of all such Advances) in the amount of the balance of that Tranche the Loan having an Interest Period ascertained in accordance with clause 3.2 and the other provisions of this clause 3.3; and3.3 and the expression “Interest Period in respect of the Loan” when used in clause 4 and elsewhere in this Agreement refers to the Interest Period in respect of the balance of the Loan; 3.3.4 3.3.3 if the Borrowers fail Borrower fails to specify the length duration of an Interest Period in accordance with the provisions of clause 3.2 and this clause 3.3 such Interest Period shall last three have a duration of six (6) months or such other period as complies shall comply with this clause 3.3.

Determination of Interest Periods. Subject to Clause 3.3.1 every Every Interest Period shall be of the duration specified by the Borrowers pursuant to clause 3.2 but so that: 3.3.1 the first initial Interest Period in respect of each Tranche Advance shall start commence on the Drawdown Date in respect of the first such Advance in respect of that Tranche, and each subsequent Interest Period for such Advance shall start commence on the last day of the previous Interest PeriodPeriod for such Advance; 3.3.2 the first initial Interest Period in respect of each subsequent Advance after the first Advance shall commence end on its Drawdown Date and terminate simultaneously with the same day as the then current Interest Period which is then current for the Tranche under which the Advance is made availableLoan; 3.3.3 if any Interest Period for an Advance would otherwise overrun a relevant Repayment Date for such Advance, then, in the case of the last Repayment Date for such Advance, such Interest Period shall end on such Repayment Date, then and in the case of any other Repayment Date or Repayment Dates, the relevant Tranche Advance shall be divided into parts so that there is one part in the amount of the repayment instalment due on such each Repayment Date for such Advance falling during that Interest Period and having an Interest Period ending on the relevant Repayment Date and another part in the amount of the balance of that Tranche the relevant Advance having an Interest Period ascertained in accordance with clause 3.2 and the other provisions of this clause 3.3; and; 3.3.4 if the Borrowers fail to specify the length duration of an Interest Period in accordance with the provisions of clause 3.2 and this clause 3.3 such Interest Period shall last have a duration of three (3) months or such other period as complies shall comply with this clause 3.3; and 3.3.5 for the avoidance of doubt, during the currency of any Transaction, Interest Periods in respect of each Advance or, as the case may be, the Loan shall coincide with the payment dates set out in such Transaction and the rate of interest shall coincide with the fixed rate of interest determined in accordance with such Transaction.

Determination of Interest Periods. Subject to Clause 3.3.1 every Every Interest Period shall be of the duration specified by the Borrowers pursuant to clause 3.2 but so that: 3.3.1 the first Interest Period in respect of each Tranche Advance shall start commence on the Drawdown Date in respect of the first date on which such Advance in respect of that Tranche, is drawn down and each subsequent Interest Period shall start commence on the last day of the previous Interest PeriodPeriod for such Advance; 3.3.2 the first if any Interest Period in respect of each subsequent an 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 relevant Repayment DateDate in respect of such Advance, then then, in the relevant Tranche case of the last Repayment Date for such Advance, such Interest Period shall end on such Repayment Date for such Advance, and in the case of any other Repayment Date or Repayment Dates for such Advance, such Advance shall be divided into parts so that there is one part in the amount of the repayment instalment due on such each Repayment Date falling during that Interest Period and having an Interest Period ending on the relevant Repayment Date for such Advance and another part in the amount of the balance of that Tranche such Advance having an Interest Period ascertained in accordance with clause 3.2 and the other provisions of this clause 3.3; and 3.3.4 3.3.3 if the Borrowers fail to specify the length duration of an Interest Period in respect of an Advance in accordance with the provisions of clause 3.2 and this clause 3.3 such Interest Period and the Interest Period of the other Advance in the same Ship Tranche, shall last both have a duration of three (3) months or such other period as complies shall comply with this clause 3.3clause.

Determination of Interest Periods. Subject to Clause 3.3.1 every Every Interest Period shall be of the duration required by, or specified by the Borrowers pursuant to clause 3.2 3.2, but so that: 3.3.1 the first Interest Period in respect of each Tranche Advance shall start commence on the Drawdown Date in respect of the first for such Advance in respect of that Tranche, and each subsequent Interest Period for such Advance shall start commence on the last day of the previous Interest PeriodPeriod for such Advance; 3.3.2 the first if any Interest Period in respect of each subsequent an 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 relevant Repayment Date for such Advance, then, in the case of the last Repayment Date for such Advance, such Interest Period shall end on such Repayment Date, then and in the case of any other Repayment Date or Repayment Dates for such Advance, the relevant Tranche Advance shall be divided into parts so that there is one part in the amount of the repayment instalment or instalments due on such each Repayment Date for such Advance falling during that Interest Period and having an Interest Period ending on the relevant Repayment Date and another part in the amount of the balance of that Tranche the relevant Advance having an Interest Period ascertained in accordance with clause 3.2 and the other provisions of this clause 3.3; and 3.3.4 if 3.3.3 If the Borrowers fail to specify the length duration of an Interest Period in accordance with the provisions of clause 3.2 and this clause 3.3 such Interest Period shall last have a duration of three (3) months or such other period as complies shall comply with this clause 3.3.

Determination of Interest Periods. Subject to Clause 3.3.1 paragraph (i) of Part 5 of the Schedule to the Master Swap Agreement, every Interest Period shall be of the duration specified by the Borrowers Borrower pursuant to clause 3.2 but so that: 3.3.1 the first Interest Period in respect of each Tranche an Advance shall start commence on the Drawdown Date in respect of the first Advance in respect of that Tranche, and each subsequent Interest Period in respect of such Advance shall start commence 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 availablesuch Advance; 3.3.3 3.3.2 if any Interest Period would otherwise overrun a relevant Repayment Date, then then, in the relevant Tranche case of the last Repayment Date, such Interest Period shall end on such Repayment Date, and in the case of any other Repayment Date or Repayment Dates, the Advance or, if more than one, the aggregate of the Advances shall be divided into parts so that there is one part (in the case of more than one Advance to be calculated on pro-rata basis between the Advances in the aggregate Dollar Amount of all such Advances) in the amount of the repayment instalment due on such each Repayment Date falling during that Interest Period and having an Interest Period ending on the relevant Repayment Date and another part (in the case of more than one Advance to be calculated on a pro-rata basis between the Advances in the aggregate Dollar Amount of all such Advances) in the amount of the balance of that Tranche the Loan having an Interest Period ascertained in accordance with clause 3.2 and the other provisions of this clause 3.3; and3.3 and the expression “Interest Period in respect of the Loan” when used in clause4 and elsewhere in this Agreement refers to the Interest Period in respect of the balance of the Loan; 3.3.4 3.3.3 if the Borrowers fail Borrower fails to specify the length duration of an Interest Period in accordance with the provisions of clause 3.2 and this clause 3.3 such Interest Period shall last three have a duration of six (6) months or such other period as complies shall comply with this clause 3.3.

Determination of Interest Periods. Subject to Clause 3.3.1 every Interest Period shall be of the duration specified by the Borrowers Borrower pursuant to clause 3.2 but so that: 3.3.1 the first Interest Period in respect of each Tranche Advance shall start on the date such Advance is drawn and shall terminate: (a) in relation to Advance B, simultaneously with the Interest Period in respect of Advance A which is current on the Drawdown Date in respect of Advance B (from which date Advance A and Advance B shall be consolidated and be treated as a single Tranche) and (b) in relation to Advance D, simultaneously with the first Advance Interest Period in respect of that Advance C which is current on the Drawdown Date in respect of Advance D (from which date Advance C and Advance D shall be consolidated and be treated as a single Tranche), and each subsequent Interest Period shall start on the last day of the previous Interest PeriodPeriod for that Advance or Tranche; 3.3.2 the first if any 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 a Tranche under which the Advance is made available; 3.3.3 if any Interest Period would otherwise overrun a relevant Repayment Date, then the relevant that Tranche shall be divided into parts so that there is one part in the amount of the repayment instalment due on such Repayment Date and having an Interest Period ending on the relevant Repayment Date and another part in the amount of the balance of that Tranche having an Interest Period ascertained in accordance with clause 3.2 and the other provisions of this clause 3.3; and 3.3.4 3.3.3 if the Borrowers fail Borrower fails to specify the length duration of an Interest Period in accordance with the provisions of clause 3.2 and this clause 3.3 3.3, such Interest Period shall last three have a duration of six (6) months or such other period as complies shall comply with this clause 3.3.

Determination of Interest Periods. Subject to Clause 3.3.1 every Interest Period shall be of the duration specified by the Borrowers pursuant to 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 of a Tranche would otherwise overrun a relevant Repayment Date, then the relevant Tranche shall be divided into parts so that there is one part in the amount of the repayment instalment due on such Repayment Date and having an Interest Period ending on the relevant Repayment Date and another part in the amount of the balance of that Tranche having an Interest Period ascertained in accordance with clause 3.2 and the other provisions of this clause 3.3; andand 18 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.

Determination of Interest Periods. Subject to Clause 3.3.1 every Every Interest Period shall be of the duration specified by the Borrowers pursuant to clause 3.2 but so that: 3.3.1 the first initial Interest Period in respect of each Tranche Advance shall start commence on the Drawdown Date in respect of the first for such Advance in respect of that Tranche, and each subsequent Interest Period for such Advance shall start commence on the last day of the previous Interest PeriodPeriod for such Advance; 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 for an Advance would otherwise overrun a relevant Repayment Date for such Advance, then, in the case of the last Repayment Date for such Advance, such Interest Period shall end on such Repayment Date, then and in the case of any other Repayment Date or Repayment Dates for such Advance, the relevant Tranche Advance shall be divided into parts so that there is one part in the amount of the repayment instalment due on such each Repayment Date for such Advance falling during that Interest Period and having an Interest Period ending on the relevant Repayment Date and another part in the amount of the balance of that Tranche the relevant Advance having an Interest Period ascertained in accordance with clause 3.2 and the other provisions of this clause 3.3; 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.

Determination of Interest Periods. Subject to Clause 3.3.1 every Every Interest Period shall be of the duration specified by the Borrowers Borrower pursuant to clause 3.2 but so that: 3.3.1 the first initial Interest Period in respect of each Tranche Advance shall start commence on the Drawdown Date in respect of the first date such Advance in respect of that Tranche, is made and each subsequent Interest Period for such Advance shall start commence on the last day of the previous Interest PeriodPeriod for such Advance; 3.3.2 the first if any Interest Period in respect of each subsequent an 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 relevant Repayment Reduction Date, then then, in the relevant Tranche case of the last Reduction Date, such Interest Period shall end on such Reduction Date, and in the case of any other Reduction Date or Reduction Dates on which the Borrower will be required to make a prepayment pursuant to clause 4.3, the Loan (or any Advance thereof) shall be divided into parts so that there is one part in the amount of the repayment instalment prepayment amount due on each such Repayment Reduction Date falling during that Interest Period and having an Interest Period ending on the relevant Repayment Reduction Date and another part in the amount of the balance of that Tranche the Loan (or Advance thereof) having an Interest Period ascertained in accordance with clause 3.2 and the other provisions of this clause 3.3; and 3.3.4 3.3.3 if the Borrowers fail Borrower fails to specify the length duration of an Interest Period in accordance with the provisions of clause 3.2 and this clause 3.3 such Interest Period shall last have a duration of three (3) months or such other period as complies shall comply with this clause 3.3.

Determination of Interest Periods. Subject to Clause 3.3.1 3. 3.1 every Interest Period shall be of the duration specified by the Borrowers Borrower pursuant to clause 3.2 but so that: 3.3.1 the first Interest Period in respect of each Tranche Advance (including each Revolving Advance) shall start on the date such Advance is drawn and shall terminate simultaneously with the Interest Period in respect of the balance of the Loan which is current on the Drawdown Date in respect of the first such Advance in respect of that Tranche, (from which date all Advances which have been drawn shall be consolidated and be treated as a single Advance) and each subsequent Interest Period shall start on the last day of the previous Interest PeriodPeriod for such Revolving Advance or, as the case may be, the Loan; 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 relevant Repayment Date, then the relevant Tranche Loan shall be divided into parts so that there is one part in the amount of the repayment instalment due on such Repayment Date and having an Interest Period ending on the relevant Repayment Date and another part in the amount of the balance of that Tranche the Loan having an Interest Period ascertained in accordance with clause 3.2 and the other provisions of this clause 3.3; and; 3.3.4 3.3.3 if the Borrowers fail Borrower fails to specify the length duration of an Interest Period in accordance with the provisions of clause 3.2 and this clause 3.3 3.3, such Interest Period shall last have a duration of three (3) months or such other period as complies shall comply with this clause 3.3.

Determination of Interest Periods. Subject to Clause 3.3.1 every Interest Period shall be of the duration specified by the Borrowers Borrower pursuant to clause 3.2 but so that: 3.3.1 the first Interest Period in respect of each Tranche Advance (including each Revolving Advance) shall start on the date such Advance is drawn and shall terminate simultaneously with the Interest Period in respect of the balance of the Loan which is current on the Drawdown Date in respect of the first such Advance in respect of that Tranche, (from which date all Advances which have been drawn shall be consolidated and be treated as a single Advance) and each subsequent Interest Period shall start on the last day of the previous Interest PeriodPeriod for such Revolving Advance or, as the case may be, the Loan; 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 relevant Repayment Date, then the relevant Tranche Loan shall be divided into parts so that there is one part in the amount of the repayment instalment due on such Repayment Date and having an Interest Period ending on the relevant Repayment Date and another part in the amount of the balance of that Tranche the Loan having an Interest Period ascertained in accordance with clause 3.2 and the other provisions of this clause 3.3; and; 3.3.4 3.3.3 if the Borrowers fail Borrower fails to specify the length duration of an Interest Period in accordance with the provisions of clause 3.2 and this clause 3.3 3.3, such Interest Period shall last have a duration of three (3) months or such other period as complies shall comply with this clause 3.3.