Common use of Duration of Interest Period Clause in Contracts

Duration of Interest Period. Every Interest Period shall, subject to market availability to be conclusively determined by the Bank, be of the duration specified by the Borrower pursuant to Clause 3.2 but so that: (a) the initial Interest Period in respect of the Loan will commence on the Drawdown Date and each subsequent Interest Period will commence forthwith upon the expiry of the previous Interest Period; (b) if any Interest Period would otherwise overrun one or more Repayment Dates, 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 or Dates the Loan shall be divided into parts so that there is one part equal to the amount of the Repayment Instalment due on each Repayment Date falling during that Interest Period and having an Interest Period ending on the relevant Repayment Date and another part equal to the amount of the balance of the Loan having an Interest Period determined in accordance with Clause 3.2 and the other provisions of this Clause 3.3 and the expression “Interest Period in respect of the Loan” when used in this Agreement refers to the Interest Period in respect of the balance of the Loan; (c) if the Borrower fails to specify the duration of an Interest Period in accordance with the provisions of Clause 3.2 and this Clause 3.3, such Interest Period shall have a duration of three (3) months unless another period shall be agreed between the Bank and the Borrower provided always that such period shall comply with this Clause 3.3; and (d) if the Bank determines that funds for the duration of an Interest Period specified by the Borrower in accordance with Clause 3.2 are not readily available, then that Interest Period shall have such duration as the Bank, in consultation with the Borrower, may determine.

Duration of Interest Period. Every Interest Period shall, subject to market availability to be conclusively determined by the Bank, be of the duration specified by the Borrower pursuant to Clause 3.2 3.02 but so that: (a) the initial Interest Period in respect of the Loan (or - in case that the Commitment is agreed to be advanced in more than one advance - of each Advance) will commence on the Drawdown Date date on which the Commitment (or - as the case may be - the relevant Advance) is advanced and each subsequent Interest Period will commence forthwith upon the expiry of the previous Interest Period; (b) in case that the Commitment is advanced by more than one advance, the initial Interest Period in respect of each Advance after the first Advance shall end on the same day as the then current Interest Period for the Loan; c) if any Interest Period would otherwise overrun one or more Repayment Dates, 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 or Dates the Loan shall be divided into parts so that there is one part equal to the amount amount(s) of the Repayment Instalment Instalment(s) due (in the currency in which the same is due) on each Repayment Date falling during that Interest Period and having an Interest Period ending on the relevant Repayment Date and another part equal to the amount of the balance of the Loan having an Interest Period determined in accordance with Clause 3.2 3.02 and the other provisions of this Clause 3.3 and the expression “Interest Period 3.03; d) in respect case of failure of the Loan” when used in this Agreement refers to the Interest Period in respect of the balance of the Loan; (c) if the Borrower fails to specify the duration of an Interest Period in accordance with the provisions of Clause 3.2 3.02 and this Clause 3.33.03, such Interest Period shall have a duration of three (3) months unless another period shall be agreed between the Bank and the Borrower provided always that such period (whether of three (3) months or of different duration) shall comply with this Clause 3.33.03; and (de) if the Bank determines that funds for the duration of an Interest Period specified by the Borrower in accordance with Clause 3.2 are 3.02 is not readily available, then that Interest Period shall have such duration as the Bank, in consultation with the Borrower, may determine.

Duration of Interest Period. Every Interest Period shall, subject to market availability to be conclusively determined by the Bank, be of the duration specified by the Borrower pursuant to Clause 3.2 but so that: (a) the initial Interest Period in respect of the Loan (or — in case that the Commitment is agreed to be advanced in more than one Advance — of each Advance) will commence on the Drawdown Date date on which the Commitment (or — as the case may be — the relevant Advance) is advanced and each subsequent Interest Period will commence forthwith upon the expiry of the previous Interest Period; (b) in case that the Commitment is advanced by more than one Advance, the initial Interest Period in respect of each Advance after the first Advance shall end on the same day as the then current Interest Period for the Loan; (c) if any Interest Period would otherwise overrun one or more Repayment Dates, 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 or Dates the Loan shall be divided into parts so that there is one part equal to the amount amount(s) of the Repayment Instalment Instalment(s) due on each Repayment Date falling during that Interest Period and having an Interest Period ending on the relevant Repayment Date and another part equal to the amount of the balance of the Loan having an Interest Period determined in accordance with Clause 3.2 and the other provisions of this Clause 3.3 and the expression “Interest Period in respect of the Loan” when used in this Agreement refers to the Interest Period in respect of the balance of the Loan3.3; (cd) if the Borrower fails to specify the duration of an Interest Period in accordance with the provisions of Clause 3.2 and this Clause 3.3, such Interest Period shall have a duration of three (3) months unless another period shall be agreed between the Bank and the Borrower provided always that such period (whether of three (3) months or of different duration) shall comply with this Clause 3.3; and (de) if the Bank determines that funds for the duration of an Interest Period specified by the Borrower in accordance with Clause 3.2 are is not readily available, then that Interest Period shall have such duration as the Bank, in consultation with the Borrower, may determine, provided, always, that: (i) any Interest Period which commences on the last day of a calendar month, and any Interest Period which commences on the day on which there is no numerically corresponding day in the calendar month during which such Interest Period is due to end, shall end on the last Banking Day of the calendar month during which such Interest Period is due to end; and (ii) if the last day of an Interest Period is not a Banking Day the Interest Period shall be extended until the next following Banking Day unless such next following Banking Day falls in the next calendar month in which case such Interest Period shall be shortened to expire on the preceding Banking Day.

Duration of Interest Period. Every Interest Period shall, subject to market availability to be conclusively determined by the Bank, be of the duration specified by the Borrower pursuant to Clause 3.2 but so that: (a) the initial Interest Period in respect of the Loan will commence on the Drawdown Date date on which the Loan is advanced and each subsequent Interest Period will commence forthwith upon the expiry of the previous Interest Period; (b) if any Interest Period would otherwise overrun one or more Repayment Dates, 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 or Dates the Loan shall be divided into parts so that there is one part equal to the amount of the Repayment Instalment due on each Repayment Date falling during that Interest Period and having an Interest Period ending on the relevant Repayment Date and another part equal to the amount of the balance of the Loan having an Interest Period determined in accordance with Clause 3.2 and the other provisions of this Clause 3.3 and the expression “Interest Period in respect of the Loan” when used in this Agreement refers to the Interest Period in respect of the balance of the Loan; (c) if the Borrower fails to specify the duration of an Interest Period in accordance with the provisions of Clause 3.2 and this Clause 3.3, such Interest Period shall have a duration of three (3) months unless another period shall be agreed between the Bank and the Borrower provided always provided, always, that such period (whether of three (3) months or of different duration) shall comply with this Clause 3.3; and (d) if the Bank determines that funds for the duration of an Interest Period specified by the Borrower in accordance with Clause 3.2 are not readily available, then that Interest Period shall have such duration as the Bank, in consultation with the Borrower, may determine; provided always that: (i) any Interest Period which commences on the last day of a calendar month, and any Interest Period which commences on the day on which there is no numerically corresponding day in the calendar month during which such Interest Period is due to end, shall end on the last Banking Day of the calendar month during which such Interest Period is due to end; and (ii) if the last day of an Interest Period is not a Banking Day the Interest Period shall be extended until the next following Banking Day unless such next following Banking Day falls in the next calendar month in which case such Interest Period shall be shortened to expire on the preceding Banking Day.

Duration of Interest Period. Every Interest Period shall, subject to market availability to be conclusively determined by the Bank, be of the duration specified by the Borrower pursuant to Clause 3.2 but so that: (a) the initial Interest Period in respect of the Loan will commence on the Drawdown Date date on which the Loan is advanced and each subsequent Interest Period will commence forthwith upon the expiry of the previous Interest Period; (b) if any Interest Period would otherwise overrun one or more Repayment Dates, 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 or Dates the Loan shall be divided into parts so that there is one part equal to the amount of the Repayment Instalment due on each Repayment Date Date, falling during that Interest Period and having an Interest Period ending on the relevant Repayment Date and another part equal to the amount of the balance of the Loan having an Interest Period determined in accordance with Clause 3.2 and the other provisions of this Clause 3.3 and the expression “Interest Period in respect of the Loan” when used in this Agreement refers to the Interest Period in respect of the balance of the Loan; (c) if the Borrower fails to specify the duration of an Interest Period in accordance with the provisions of Clause 3.2 and this Clause 3.3, such Interest Period shall have a duration of three (3) months unless another period shall be agreed between the Bank and the Borrower provided always provided, always, that such period (whether of three (3) months or of different duration) shall comply with this Clause 3.3; and (d) if the Bank determines that funds for the duration of an Interest Period specified by the Borrower in accordance with Clause 3.2 are not readily available, then that Interest Period shall have such duration as the Bank, in consultation with the Borrower, may determine; provided always that: (i) any Interest Period which commences on the last day of a calendar month, and any Interest Period which commences on the day on which there is no numerically corresponding day in the calendar month during which such Interest Period is due to end, shall end on the last Banking Day of the calendar month during which such Interest Period is due to end; and (ii) if the last day of an Interest Period is not a Banking Day the Interest Period shall be extended until the next following Banking Day unless such next following Banking Day falls in the next calendar month in which case such Interest Period shall be shortened to expire on the preceding Banking Day.

Duration of Interest Period. Every Interest Period shall, subject to market availability to be conclusively determined by the Bank, be of the duration specified by the Borrower pursuant to Clause 3.2 but so that: (a) the initial Interest Period in respect of the Loan (or — in case that the Commitment is agreed to be advanced in more than one Advance — of each Advance) will commence on the Drawdown Date date on which the Commitment is advanced and each subsequent Interest Period will commence forthwith upon the expiry of the previous Interest Period; (b) if any Interest Period would otherwise overrun one or more Repayment Dates, 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 or Dates the Loan shall be divided into parts so that there is one part equal to the amount amount(s) of the Repayment Instalment Instalment(s) due on each Repayment Date falling during that Interest Period and having an Interest Period ending on the relevant Repayment Date and another part equal to the amount of the balance of the Loan having an Interest Period determined in accordance with Clause 3.2 and the other provisions of this Clause 3.3 and the expression “Interest Period in respect of the Loan” when used in this Agreement refers to the Interest Period in respect of the balance of the Loan3.3; (c) if the Borrower fails to specify the duration of an Interest Period in accordance with the provisions of Clause 3.2 and this Clause 3.3, such Interest Period shall have a duration of three (3) months unless another period shall be agreed between the Bank and the Borrower provided always that such period (whether of three (3) months or of different duration) shall comply with this Clause 3.3; and (d) if the Bank determines that funds for the duration of an Interest Period specified by the Borrower in accordance with Clause 3.2 are is not readily available, then that Interest Period shall have such duration as the Bank, in consultation with the Borrower, may determine, provided, always, that: (i) any Interest Period which commences on the last day of a calendar month, and any Interest Period which commences on the day on which there is no numerically corresponding day in the calendar month during which such Interest Period is due to end, shall end on the last Banking Day of the calendar month during which such Interest Period is due to end; and (ii) if the last day of an Interest Period is not a Banking Day the Interest Period shall be extended until the next following Banking Day unless such next following Banking Day falls in the next calendar month in which case such Interest Period shall be shortened to expire on the preceding Banking Day.

Duration of Interest Period. Every Interest Period shall, subject to market availability to be conclusively determined by the Bank, be of the duration specified by the Borrower Borrowers pursuant to Clause 3.2 but so that: (a) the initial Interest Period in respect of the Loan (or - in case that the Commitment is agreed to be advanced in more than one Advance - of each Advance) will commence on the Drawdown Date date on which the Commitment is advanced and each subsequent Interest Period will commence forthwith upon the expiry of the previous Interest Period; (b) if any Interest Period would otherwise overrun one or more Repayment Dates, 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 or Dates the Loan shall be divided into parts so that there is one part equal to the amount amount(s) of the Repayment Instalment Instalment(s) due on each Repayment Date falling during that Interest Period and having an Interest Period ending on the relevant Repayment Date and another part equal to the amount of the balance of the Loan having an Interest Period determined in accordance with Clause 3.2 and the other provisions of this Clause 3.3 and the expression “Interest Period in respect of the Loan” when used in this Agreement refers to the Interest Period in respect of the balance of the Loan3.3; (c) if the Borrower fails Borrowers fail to specify the duration of an Interest Period in accordance with the provisions of Clause 3.2 and this Clause 3.3, such Interest Period shall have a duration of three (3) months unless another period shall be agreed between the Bank and the Borrower provided always provided, always, that such period (whether of three (3) months or of different duration) shall comply with this Clause 3.3; and (d) if the Bank determines that funds for the duration of an Interest Period specified by the Borrower Borrowers in accordance with Clause 3.2 are is not readily availableavailable the Bank shall advise the Borrowers and the Borrowers shall select a readily available Interest Period; (i) any Interest Period which commences on the last day of a calendar month, then that and any Interest Period which commences on the day on which there is no numerically corresponding day in the calendar month during which such Interest Period is due to end, shall end on the last Banking Day of the calendar month during which such Interest Period is due to end; and (ii) if the last day of an Interest Period is not a Banking Day the Interest Period shall have be extended until the next following Banking Day unless such duration as next following Banking Day falls in the Bank, next calendar month in consultation with which case such Interest Period shall be shortened to expire on the Borrower, may determinepreceding Banking Day.

Duration of Interest Period. Every Interest Period shall, subject to market availability to be conclusively determined by the Bank, be of the duration specified by the Borrower pursuant to Clause 3.2 but so that: (a) the initial Interest Period in respect of the Loan will commence on the Drawdown Date and each subsequent Interest Period will commence forthwith upon the expiry of the previous Interest Period; (b) if any Interest Period would otherwise overrun one or more Repayment Dates, 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 or Dates the Loan shall be divided into parts so that there is one part equal to the amount of the Repayment Instalment due on each Repayment Date falling during that Interest Period and having an Interest Period ending on the relevant Repayment Date and another part equal to the amount of the balance of the Loan having an Interest Period determined in accordance with Clause 3.2 and the other provisions of this Clause 3.3 and the expression “"Interest Period in respect of the Loan” " when used in this Agreement refers to the Interest Period in respect of the balance of the Loan; (c) if the Borrower fails to specify the duration of an Interest Period in accordance with the provisions of Clause 3.2 and this Clause 3.3, such Interest Period shall have a duration of three (3) months unless another period shall be agreed between the Bank and the Borrower provided always that such period shall comply with this Clause 3.3; and (d) if the Bank determines that funds for the duration of an Interest Period specified by the Borrower in accordance with Clause 3.2 are not readily available, then that Interest Period shall have such duration as the Bank, in consultation with the Borrower, may determine.

Duration of Interest Period. Every Interest Period shall, subject to market availability to be conclusively determined by the Bank, be of the duration specified by the Borrower Borrowers pursuant to Clause 3.2 but so that: (a) the initial Interest Period in respect of the Loan (or, as the case may be, of each Advance) will commence on the Drawdown Date date on which the Commitment or, as the case may be, the relevant Advance is advanced and each subsequent Interest Period will commence forthwith upon the expiry of the previous Interest Period; (b) in case that the Commitment is advanced by more than one Advances, the initial Interest Period in respect of each Advance after the first Advance shall end on the same day as the then current Interest Period for the Loan; (c) if any Interest Period would otherwise overrun one or more Repayment Dates, 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 or Dates the Loan shall be divided into parts so that there is one part equal to the amount amount(s) of the Repayment Instalment Instalment(s) due on each Repayment Date falling during that Interest Period and having an Interest Period ending on the relevant Repayment Date and another part equal to the amount of the balance of the Loan having an Interest Period determined in accordance with Clause 3.2 and the other provisions of this Clause 3.3 and the expression “Interest Period in respect of the Loan” when used in this Agreement refers to the Interest Period in respect of the balance of the Loan3.3; (cd) if the Borrower fails Borrowers fail to specify the duration of an Interest Period in accordance with the provisions of Clause 3.2 and this Clause 3.3, such Interest Period shall have a duration of three (3) months unless another period shall be agreed between determined by the Bank and the Borrower at its sole discretion provided always that such period (whether of three (3) months or of different duration) shall comply with this Clause 3.3; and (de) if the Bank determines in a reasonable manner that funds for the duration of an Interest Period specified by the Borrower Borrowers in accordance with Clause 3.2 are is not readily available, then that Interest Period shall have such duration as the Bank, in consultation with the Borrower, may determine. (i) any Interest Period which commences on the last day of a calendar month, and any Interest Period which commences on the day on which there is no numerically corresponding day in the calendar month during which such Interest Period is due to end, shall end on the last Banking Day of the calendar month during which such Interest Period is due to end; and (ii) if the last day of an Interest Period is not a Banking Day the Interest Period shall be extended until the next following Banking Day unless such next following Banking Day falls in the next calendar month in which case such Interest Period shall be shortened to expire on the preceding Banking Day.

Duration of Interest Period. Every Interest Period shall, subject to market availability to be conclusively determined by the Bank, be of the duration specified by the Borrower Borrowers pursuant to Clause 3.2 but so that: (aA) the initial Interest Period in respect of the Loan will commence on the Drawdown Date date on which the Commitment is advanced and each subsequent Interest Period will commence forthwith upon the expiry of the previous Interest Period; (bB) if any Interest Period would otherwise overrun one or more Repayment Dates, 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 or Dates the Loan shall be divided into parts so that there is one part equal to the amount amount(s) of the Repayment Instalment Instalment(s) due on each Repayment Date falling during that Interest Period and having an Interest Period ending on the relevant Repayment Date and another part equal to the amount of the balance of the Loan having an Interest Period determined in accordance with Clause 3.2 and the other provisions of this Clause 3.3 and the expression “Interest Period in respect of the Loan” when used in this Agreement refers to the Interest Period in respect of the balance of the Loan3.3; (cC) if the Borrower fails Borrowers fail to specify the duration of an Interest Period in accordance with the provisions of Clause 3.2 and this Clause 3.3, such Interest Period shall have a duration of three (3) months unless another period shall be agreed between the Bank and the Borrower Borrowers provided always that such period (whether of three (3) months or of different duration) shall comply with this Clause 3.3; and (dD) if the Bank determines that funds for the duration of an Interest Period specified by the Borrower Borrowers in accordance with Clause 3.2 are is not readily available, then that Interest Period shall have such duration as the Bank, in consultation with the BorrowerBorrowers, may determine, Provided always that: (I) any Interest Period which commences on the last day of a calendar month, and any Interest Period which commences on the day on which there is no numerically corresponding day in the calendar month during which such Interest Period is due to end, shall end on the last Banking Day of the calendar month during which such Interest Period is due to end; and (II) if the last day of an Interest Period is not a Banking Day the Interest Period shall be extended until the next following Banking Day unless such next following Banking Day falls in the next calendar month in which case such Interest Period shall be shortened to expire on the preceding Banking Day.

Duration of Interest Period. Every Interest Period shall, subject to market availability to be conclusively determined by the Bank, be of the duration specified by the Borrower pursuant to Clause 3.2 3.02 but so that: (a) 3.03.01. the initial Interest Period in respect of the Loan will commence on the Drawdown Date and each subsequent Interest Period will commence forthwith upon the expiry of the previous Interest Period; (b) if any 3.03.02. interest shall be calculated on the Loan or the balance thereof from time to time outstanding as and from the commencement date of each applicable Interest Period would otherwise overrun one or more Repayment Datesto the last day of each such Interest Period and shall be paid on the last day of each such Interest Period, then, provided that in the case of an Interest Period of more than three (3) months' duration, such interest shall be payable quarterly; 3.03.03. in the last Repayment Dateevent of an Interest Period as defined in Clauses 3.02 and 3.03 of this Agreement being fixed for such duration that a part of the Loan is to be repaid within such Interest Period, the Interest Rate will be fixed as provided in this Agreement for the amount of that part of the Loan so to be repaid for the period running from the beginning of such Interest Period shall end to the date upon which the said repayment is to be made and interest will be payable on such Repayment Date, date and in the case of any other Repayment Date or Dates the Loan shall be divided into parts so that there is one part equal to the amount of the Repayment Instalment due on each Repayment Date falling during that Interest Period and having an Interest Period ending on the relevant Repayment Date and another part equal to the amount of for the balance of the Loan having an (less the amount to be repaid within such Interest Period determined Period) the interest will be fixed as aforesaid for the agreed period; 3.03.04. in accordance with Clause 3.2 and the other provisions case of this Clause 3.3 and the expression “Interest Period in respect failure of the Loan” when used in this Agreement refers to the Interest Period in respect of the balance of the Loan; (c) if the Borrower fails to specify the duration of an Interest Period in accordance with the provisions of Clause 3.2 3.02 and this Clause 3.33.03, such Interest Period shall have a duration of three (3) months unless another period shall be agreed between the Bank and the Borrower provided always that such period (whether of three (3) months or of different duration) shall comply with this Clause 3.3; and3.03; (d) 3.03.05. if the Bank determines that funds for the duration of an Interest Period specified by the Borrower in accordance with Clause 3.2 are 3.02 is not readily available, then that Interest Period shall have such duration as the Bank, in consultation with the Borrower, may determine.

Duration of Interest Period. Every Interest Period shall, subject to market availability to be conclusively determined by the Bank, be of the duration specified by the Borrower Borrowers pursuant to Clause 3.2 but so that: (a) the initial Interest Period in respect of the Loan will commence on the Drawdown Date and each subsequent Interest Period will commence forthwith upon the expiry of the previous Interest Period; (b) if any Interest Period would otherwise overrun one or more Repayment Dates, 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 or Dates the Loan shall be divided into parts so that there is one part equal to the amount of the Repayment Instalment due on each Repayment Date falling during that Interest Period and having an Interest Period ending on the relevant Repayment Date and another part equal to the amount of the balance of the Loan having an Interest Period determined in accordance with Clause 3.2 and the other provisions of this Clause 3.3 and the expression “Interest Period in respect of the Loan” when used in this Agreement refers to the Interest Period in respect of the balance of the Loan; (c) if the Borrower fails Borrowers fail to specify the duration of an Interest Period in accordance with the provisions of Clause 3.2 and this Clause 3.3, such Interest Period shall have a duration of three (3) months unless another period shall be agreed between the Bank and the Borrower Borrowers provided always that such period shall comply with this Clause 3.3; and (d) if the Bank determines that funds for the duration of an Interest Period specified by the Borrower Borrowers in accordance with Clause 3.2 are not readily available, then that Interest Period shall have such duration as the Bank, in consultation with the BorrowerBorrowers, may determine.. provided always that: (i) any Interest Period which commences on the last day of a calendar month, and any Interest Period which commences on the day on which there is no numerically corresponding day in the calendar month during which such Interest Period is due to end, shall end on the last Banking Day of the calendar month during which such Interest Period is due to end; and (ii) if the last day of an Interest Period is not a Banking Day the Interest Period shall be extended until the next following Banking Day unless such next following Banking Day falls in the next calendar month in which case such Interest Period shall be shortened to expire on the preceding Banking Day