Floating Interest Rate. If: (a) the Borrower has specified a Floating Interest Rate pursuant to Clause 3.5(b); or (b) the Borrower has specified a Fixed Interest Rate pursuant to Clause 3.5(b) but thereafter for any reason whatsoever the Interest Make-up Agreement shall cease to be in effect, the rate of interest on the Loan in respect of any Interest Period shall be the Floating Interest Rate applicable for that Interest Period and the following provisions of this Clause 6 shall apply (in the case of the circumstances referred to in paragraph (b) above, with effect from the date on which the Interest Make-up Agreement ceases to be in effect, with such consequential amendments as shall be necessary to give effect to the switch from a Fixed Interest Rate to a Floating Interest Rate).
Appears in 4 contracts
Samples: Amendment and Restatement Agreement (Norwegian Cruise Line Holdings Ltd.), Amendment and Restatement Agreement (Norwegian Cruise Line Holdings Ltd.), Loan Agreement (Prestige Cruises International, Inc.)
