Common use of Duration of Interest Periods Clause in Contracts

Duration of Interest Periods. The duration of each Interest Period relating to the Advance shall, save as otherwise provided herein, be one, three, six or twelve months, or any such other period as may be agreed from time to time between the Borrower and the Agent, in each case as the Borrower may select by not less than three business days' prior notice to the Agent Provided that: (i) if the Borrower selects a duration of twelve months in relation to an Interest Period, then: (a) the Borrower may, at the same time, notify the Agent of an alternative selection of three or six months to apply if the Borrower's selection becomes ineffective pursuant to (b) below; and (b) any Bank may, at any time before 9.00 a.m. on the second business day preceding the first day of such Interest Period, notify the Agent that it objects to the Borrower's selection, whereupon such selection shall become ineffective Provided that no such objection shall be given except for reason of the non availability to such Bank of dollars for twelve months interest periods in the London Inter-bank Market; (ii) if the Borrower fails to give such notice of its selection in relation to an Interest Period, or if its selection becomes ineffective under (i)(b) above and the Borrower has failed to give the Agent any permitted alternative selection pursuant to (i)(a) above, then the duration of that Interest Period shall, subject to (iii) below, be three months; (iii) the Borrower may not select an Interest Period of one month more than three times during any calendar year; and (iv) any Interest Period which would otherwise end during the month preceding, or extend beyond, the Final Repayment Date shall be of such duration that it shall end on the Final Repayment Date.

Duration of Interest Periods. The duration of each Interest Period relating to the an Advance shall, save as otherwise provided herein, be one, three, six or twelve months, or any such other period as may be agreed from time to time between the Borrower Borrowers and the Agent, in each case as the Borrower Borrowers may select by not less than three business days' prior notice to the Agent Provided that: (i) if the Borrower selects Borrowers select a duration of twelve months in relation to an Interest Period, then: (a) the Borrower Borrowers may, at the same time, notify the Agent of an alternative selection of three or six months to apply if the Borrower's Borrowers' selection becomes ineffective pursuant to (b) below; and (b) any Bank may, at any time before 9.00 a.m. on the second business day preceding the first day of such Interest Period, notify the Agent that it objects to the Borrower's Borrowers' selection, whereupon such selection shall become ineffective Provided that no such objection shall be given except for reason of the non availability to such Bank of dollars for twelve months interest periods in the London Inter-bank Market; (ii) if the Borrower fails Borrowers fail to give such notice of its their selection in relation to an Interest Period, or if its their selection becomes ineffective under (i)(b) above and the Borrower has Borrowers have failed to give the Agent any permitted alternative selection pursuant to (i)(a) above, then the duration of that Interest Period shall, subject to (iii) below, be three months; (iii) the Borrower Borrowers may not select an Interest Period of one month more than three times during any calendar year; and (iv) any Interest Period which would otherwise end during the month preceding, or extend beyond, the Final Repayment Date shall be of such duration that it shall end on the Final Repayment Date.

Duration of Interest Periods. The duration of each Interest Period relating to the Advance shall, save as otherwise provided herein, be one, three, six or twelve months, or any such other period as may be agreed from time to time between the Borrower and the Agent, in each case as the Borrower may select by not less than three business days' prior notice to the Agent Provided that: (i) if the Borrower selects a duration of twelve months in relation to an Interest Period, then: (a) the Borrower may, at the same time, notify the Agent of an alternative selection of three or six months to apply if the Borrower's selection becomes ineffective pursuant to (b) below; and (b) any Bank may, at any time before 9.00 a.m. on the second business day preceding the first day of such Interest Period, notify the Agent that it objects to the Borrower's selection, whereupon such selection shall become ineffective Provided that no such objection shall be given except for reason of the non availability to such Bank of dollars for twelve months interest periods in the London Inter-bank Market; (ii) if the Borrower fails to give such notice of its selection in relation to an Interest Period, or if its selection becomes ineffective under (i)(b) above and the Borrower has failed to give the Agent any permitted alternative selection pursuant to (i)(a) above, then the duration of that Interest Period shall, subject to (iii) below, be three months; (iii) the Borrower may not select an Interest Period of one month more than three times during any calendar year; and (iv) any Interest Period which would otherwise end during the month preceding, or extend beyond, the Final Repayment Date shall be of such duration that it shall end on the Final Repayment Date.

Duration of Interest Periods. The duration of each Interest Period relating to the Advance shall, save as otherwise provided herein, be one, three, six or twelve months, or any such other period as may be agreed from time to time between the Borrower and the Agent, in each case as the Borrower may select by not less than three business days' prior notice to the Agent Provided that: (i) if the Borrower selects a duration of twelve months in relation to an Interest Period, then: (a) the Borrower may, at the same time, notify the Agent of an alternative selection of three or six months to apply if the Borrower's selection becomes ineffective pursuant to (b) below; and (b) any Bank may, at any time before 9.00 a.m. on the second business day preceding the first day of such Interest Period, notify the Agent that it objects to the Borrower's selection, whereupon such selection shall become ineffective Provided that no such objection shall be given except for reason of the non availability to such Bank of dollars for twelve months interest periods in the London Inter-bank Market;business (ii) if the Borrower fails to give such notice of its selection in relation to an Interest Period, or if its selection becomes ineffective under (i)(b) above and the Borrower has failed to give the Agent any permitted alternative selection pursuant to (i)(a) above, then the duration of that Interest Period shall, subject to (iii) below, be three months; (iii) the Borrower may not select an Interest Period of one month more than three times during any calendar year; and (iv) any Interest Period which would otherwise end during the month preceding, or extend beyond, the Final Repayment Date shall be of such duration that it shall end on the Final Repayment Date.

Duration of Interest Periods. The duration of each Interest Period relating to the an Advance shall, save as otherwise provided herein, be one, three, six or twelve months, or any such other period as may be agreed from time to time between the Borrower Borrowers and the Agent, in each case as the Borrower Borrowers may select by not less than three business days' prior notice to the Agent Provided that: (i) if the Borrower selects Borrowers select a duration of twelve months in relation to an Interest Period, then: (a) the Borrower Borrowers may, at the same time, notify the Agent of an alternative selection of three or six months to apply if the Borrower's Borrowers' selection becomes ineffective pursuant to (b) below; and (b) any Bank may, at any time before 9.00 a.m. on the second business day preceding the first day of such Interest Period, notify the Agent that it objects to the Borrower's Borrowers' selection, whereupon such selection shall become ineffective Provided that no such objection shall be given except for reason of the non availability to such Bank of dollars for twelve months interest periods in the London Inter-bank Market; (ii) if the Borrower fails Borrowers fail to give such notice of its their selection in relation to an Interest Period, or if its selection becomes ineffective under (i)(b) above and the Borrower has Borrowers have failed to give the Agent any permitted alternative selection pursuant to (i)(a) above, then the duration of that Interest Period shall, subject to (iii) below, be three months; (iii) the Borrower Borrowers may not select an Interest Period of one month more than three times during any calendar year; and; (iv) any Interest Period which would otherwise end during the month preceding, or extend beyond, the Final Repayment Date shall be of such duration that it shall end on the Final Repayment Date.