Duration of Interest Periods for repayment instalments. In respect of an amount due to be repaid under Clause 8 on a particular Repayment Date, an Interest Period shall end on that Repayment Date.
Duration of Interest Periods for repayment instalments. In respect of a Repayment Instalment of a Tranche or an Advance due to be repaid on a particular Repayment Date, an Interest Period for the part of the Tranche or, as the case may be, Advance equal to such Repayment Instalment shall end on that Repayment Date (if such date is before the end of the Interest Period relevant to the Tranche or, as the case may be, Advance then current).
Duration of Interest Periods for repayment instalments. Unless the Borrower selects an Interest Period ending on a Repayment Date for a Tranche which is at least equal to the repayment instalment due on that particular Repayment Date, there shall be a separate Interest Period ending on that Repayment Date in respect of the amount due to be repaid under Clause 8 on that particular Repayment Date.
Duration of Interest Periods for repayment instalments. In respect of an amount due to be repaid under Clause 8 on a particular Repayment Date, an Interest Period shall end on that Repayment Date. If, after the Borrowers have selected an Interest Period longer than 6 months, any Lender notifies the Agent by 11.00 a.m. (London time) on the third Business Day before the commencement of the Interest Period that it is not satisfied that deposits in Dollars for a period equal to the Interest Period will be available to it in the London Interbank Market when the Interest Period commences, the Interest Period shall be 6 months. The Borrowers shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by either Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: the date on which the Finance Documents provide that such amount is due for payment; or if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or if such amount has become immediately due and payable under Clause 19.4, the date on which it became immediately due and payable. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 per cent. above: in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (a) and (b) of Clause 7.3; or in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.3. The rates referred to in Clause 7.2 are: the rate applicable to the overdue principal amount immediately prior to the relevant date (but only for any unexpired part of any then current Interest Period); the aggregate of the Margin plus, in respect of successive periods of any duration (including at call) up to 3 months which the Agent may select from time to time:
Duration of Interest Periods for repayment instalments. In respect of a Repayment Instalment due to be repaid on a particular Repayment Date, an Interest Period for the part of the Loan equal to such Repayment Instalment shall end on that Repayment Date (if such date is before the end of the Interest Period then current). If, after the Borrower has selected and the Lender has agreed an Interest Period longer than 3 months, the Lender notifies the Borrower by 11.00 a.m. (London time) on the second Business Day before the commencement of the Interest Period that it is not satisfied that deposits in Dollars for a period equal to the Interest Period will be available to it in the London Interbank Market when the Interest Period commences, the Interest Period shall be of 3 months. Signature of the Master Agreement does not commit the Lender to conclude Transactions, or even to offer terms for doing so, but does provide a contractual framework within which Transactions may be concluded and secured, assuming that the Lender is willing to conclude any Transaction at the relevant time and that, if that is the case, mutually acceptable terms can then be agreed at that time. If the Lender does not agree to enter into Transactions with the Borrower, the Borrower can hedge any part of the interest rate risk under this Agreement with other banks or financial institutions Provided that such hedging arrangements shall be made on an unsecured basis and the rights of the relevant banks or financial institutions thereunder shall be fully subordinated to the rights of the Lender under the Finance Documents.
Duration of Interest Periods for repayment instalments. In respect of an amount due to be repaid under Clause 8 on a particular Repayment Date, an Interest Period shall end on that Repayment Date. Non-availability of matching deposits for Interest Period selected If, after the Borrowers have selected an Interest Period longer than 3 months, any Lender notifies the Agent by 11.00 a.m. (London time) on the third Business Day before the commencement of the Interest Period that it is not satisfied that deposits in Dollars for a period equal to the Interest Period will be available to it in the London Interbank Market when the Interest Period commences, the Interest Period shall be 3 months.
