Failure to select Interest Period. If the Borrower at any time fails to select or agree an Interest Period in accordance with Clause 7.1, the interest period applicable shall be three (3) months.
Appears in 3 contracts
Samples: Loan Agreement (Teekay LNG Partners L.P.), Loan Agreement (Teekay LNG Partners L.P.), Loan Agreement (Teekay Shipping Corp)
Failure to select Interest Period. If the Borrower at any time fails to select or agree an Interest Period in accordance with Clause 7.1, the interest period rate applicable shall be based on an Interest Period of three (3) months.
Appears in 2 contracts
Samples: Secured Loan Agreement (Teekay LNG Partners L.P.), Secured Loan Agreement (Teekay LNG Partners L.P.)
Failure to select Interest Period. If the Borrower Borrowers at any time fails fail to select or agree an Interest Period in accordance with Clause 7.1, the interest period rate applicable shall be based on an Interest Period of three (3) months.
Appears in 2 contracts
Samples: Secured Term Loan Facility Agreement (Teekay LNG Partners L.P.), Secured Term Loan Facility Agreement (Teekay LNG Partners L.P.)
Failure to select Interest Period. If the Borrower at any time fails to select or agree an Interest Period in accordance with Clause 7.1, the interest period rate applicable shall be based on an Interest Period of three (3) months.
Appears in 1 contract
Samples: Secured Term Loan Facility Agreement (Teekay Tankers Ltd.)
Failure to select Interest Period. If the Borrower at any time fails to select or agree an Interest Period in accordance with Clause 7.1, the interest period applicable shall be three (3) monthsmonths or such other duration as the Agent may select (acting on the instructions of all the Lenders).
Appears in 1 contract
Samples: Loan Agreement
Failure to select Interest Period. If the Borrower at any time fails to select or agree an Interest Period in accordance with Clause 7.1, the interest period rate applicable shall be three (3) months.. \P1\3549672.7
Appears in 1 contract
Failure to select Interest Period. If the Borrower at any time fails to select or agree an Interest Period in accordance with Clause 7.1, the interest period rate applicable shall be three (3) months.
Appears in 1 contract
Samples: Secured Credit Facility (Teekay Offshore Partners L.P.)
