Determination of LIBOR Rate Payment Periods Sample Clauses

Determination of LIBOR Rate Payment Periods. During any Interim Term, each Interim Accrual Period applicable to the Equity Investment bearing yield at a rate determined with respect to the Interim LIBOR Rate shall be a period of one (1) month which shall commence on and include the Closing Date or the Interim Accrual Date immediately following the prior Interim Accrual Period and end on but not include the next Interim Accrual Date. During the Base Term of each Lease, each Payment Period applicable to the Equity Investment bearing interest at a rate determined with respect to the LIBOR Rate shall be determined by the Lessee by providing the Lessor with irrevocable notice of such determination at or before 1:00 p.m., New York time two (2) Business Days’ prior to the commencement of such Payment Period, and shall be a period of three (3) months or six (6) months, in each case, commencing after the end of the preceding Payment Period applicable to such Equity Investment but, in any event, ending not later than the date such Equity Investment shall be due and payable including the Final Maturity Date. During the Base Term, (i) elections of Payment Periods by Lessee shall apply to the Equity Investment bearing interest at a rate determined with respect to the LIBOR Rate, and (ii) if the Lessee fails to notify the Lessor of its preferred Payment Period for the Equity Investment bearing interest at a rate determined with respect to the LIBOR Rate in accordance with this clause (b), the Lessee shall be deemed to have elected to continue the Equity Investment as Equity Investment bearing interest at a rate determined with respect to the LIBOR Rate with a Payment Period of three (3) months, subject to Sections 2.9(a) and (b) below.
Sample 1
AutoNDA by SimpleDocs

Related to Determination of LIBOR Rate Payment Periods

  • Determination of LIBOR ARTICLE V

  • Determination of Rates Promptly after the determination of any interest rate provided for herein or any change therein, the Administrative Agent shall notify the Lenders to which such interest is payable and the Borrower thereof. Each determination by the Administrative Agent of an interest rate or fee hereunder shall, except in cases of manifest error, be final, conclusive and binding on the parties.

  • Number and Amount of LIBOR Loans; Determination of Rate Each Borrowing of LIBOR Loans when made shall be in a minimum amount of $1,000,000, plus any increment of $500,000 in excess thereof. No more than ten (10) Borrowings of LIBOR Loans may be outstanding at any time, and all LIBOR Loans having the same length and beginning date of their Interest Periods shall be aggregated together and considered one Borrowing for this purpose. Upon determining LIBOR for any Interest Period requested by Borrowers, Agent shall promptly notify Borrowers thereof by telephone or electronically and, if requested by Borrowers, shall confirm any telephonic notice in writing.

  • Alternate Rate of Interest; Illegality (a) If prior to the commencement of any Interest Period for a Eurodollar Borrowing:

  • Determination of Applicable Interest Rate As soon as practicable on each Interest Rate Determination Date, Bank shall determine (which determination shall, absent manifest error in calculation, be final, conclusive and binding upon all parties) the interest rate that shall apply to the LIBOR Advances for which an interest rate is then being determined for the applicable Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to Borrower.

  • Duration of normal Interest Periods Subject to Clauses 6.3 and 6.4, each Interest Period shall be:

  • Interest Rate Determinations Administrative Agent shall give notice to Borrower and each Lender of the applicable interest rates for the purposes of Section 2.03 and any calculation related thereto.

  • Determination of Interest Periods Every Interest Period shall be of the duration specified by the Borrowers pursuant to clause 3.2 but so that:

  • Interest Rate Determination (a) The Agent shall give prompt notice to the Borrower and the Lenders of the applicable interest rate determined by the Agent for purposes of Section 2.07(a)(i) or (ii).

  • Calculation of LIBOR Until the Certificate Principal Balance of each of the Adjustable Rate Certificates has been reduced to zero, LIBOR for the initial Interest Accrual Period shall be 1.31%, and for any Interest Accrual Period thereafter, the Trustee, if any, shall establish LIBOR on each LIBOR Determination Date as follows:

Time is Money Join Law Insider Premium to draft better contracts faster.