Common use of Failure to select Interest Clause in Contracts

Failure to select Interest. Period If the Borrowers at any time fail to select or agree an Interest Period in accordance with Clause 7.1, the Interest Period applicable shall be of three (3) months duration.

Appears in 6 contracts

Samples: Secured Facility Agreement, Secured Facility Agreement (Teekay LNG Partners L.P.), Facility Agreement (Teekay Corp)

AutoNDA by SimpleDocs

Failure to select Interest. Period PERIOD If the Borrowers Borrower at any time fail fails to select or agree an Interest Period in accordance with Clause 7.1, the Interest Period interest rate applicable shall be of three (3) months durationmonths.

Appears in 2 contracts

Samples: Loan Agreement, Loan Agreement (Teekay Offshore Partners L.P.)

Failure to select Interest. Period If the Borrowers Borrower at any time fail fails to select or agree an Interest Period in accordance with Clause 7.1, the Interest Period interest period applicable shall be of three (3) months durationmonths.

Appears in 2 contracts

Samples: Loan Agreement, Loan Agreement

Failure to select Interest. Period If the Borrowers at any time fail to select or agree an Interest Period in accordance with Clause 7.1, the Interest Period interest rate applicable shall be of three (3) months durationmonths.

Appears in 1 contract

Samples: Secured Credit Facility (Teekay Offshore Partners L.P.)

Failure to select Interest. Period If the Borrowers Borrower at any time fail fails to select or agree an Interest Period in respect of a Drawing in accordance with Clause 7.1, the Interest Period interest rate applicable shall be based on an Interest Period of three (3) months durationmonths.

Appears in 1 contract

Samples: Secured Revolving Credit Facility Agreement (Teekay Corp)

AutoNDA by SimpleDocs

Failure to select Interest. Period If the Borrowers at any time fail to select or agree an Interest Period in accordance with Clause 7.16.1, the Interest Period interest rate applicable shall be of three (3) months durationmonths.

Appears in 1 contract

Samples: Loan Agreement (Teekay LNG Partners L.P.)

Failure to select Interest. Period If the Borrowers at any time fail to select or agree an Interest Period in accordance with Clause 7.1, the Interest Period interest rate applicable shall be based on an Interest Period of three (3) months durationmonths.

Appears in 1 contract

Samples: Secured Term Loan Facility Agreement

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!