Funding Periods. At any time when the Borrower shall select, convert to or renew the CD Rate Option or the Euro-Rate Option to apply to any part of the Loans, the Borrower shall specify one or more periods (the "FUNDING PERIODS") during which each such Option shall apply, such Funding Periods being as set forth below: INTEREST RATE OPTION AVAILABLE FUNDING PERIODS CD Rate Option 30, 60, 90 or 180 days or such longer period as may be offered by all of the Lenders ("CD RATE FUNDING Period"); and Euro-Rate Option One, two, three or six months ("EURO-RATE FUNDING PERIOD"); PROVIDED, that:
(i) Each CD Rate Funding Period which would otherwise end on a day which is not a Business Day shall be extended to the next succeeding Business Day;
(ii) Each Euro-Rate Funding Period shall begin on a Business Day, and the term "month", when used in connection with a Euro-Rate Funding Period, shall be construed in accordance with prevailing practices in the interbank eurodollar market at the commencement of such Euro-Rate Funding Period, as determined in good faith by the Administrative Agent (which determination shall be conclusive); and
(iii) In the case of Revolving Credit Loans, the Borrower may not select a Funding Period that would end after the Revolving Credit Maturity Date.
Funding Periods. At any time when the Parent shall select, convert to or renew the Euro-Rate Option to apply to any part of the Revolving Credit Loans, the Parent shall specify one or more periods (the “Euro-Rate Funding Periods”) during which each such Option shall apply, such Euro-Rate Funding Periods being one, two, three or six months (or, if approved by each Lender, one week); provided that (i) each Euro-Rate Funding Period shall begin on a Business Day, and the term “month”, when used in connection with a Euro-Rate Funding Period, shall be construed in accordance with prevailing practices in the interbank eurocurrency market at the commencement of such Euro-Rate Funding Period, as determined in good faith by the Administrative Agent (which determination shall be conclusive); and (ii) the Parent may not select a Euro-Rate Funding Period that would end after the Revolving Credit Maturity Date. At any time when the Parent shall select, convert to or renew the CDOR Option to apply to any part of the Revolving Credit Loans, the Parent shall specify one or more periods (the “CDOR Funding Periods”) during which each such Option shall apply, such CDOR Funding Periods being one, two, three or six months; provided that (i) each CDOR Funding Period shall begin on a Business Day, and the term “month”, when used in connection with a CDOR Funding Period, shall be construed in accordance with prevailing practices in the relevant market at the commencement of such CDOR Funding Period, as determined in good faith by the Administrative Agent (which determination shall be conclusive); and (ii) the Parent may not select a CDOR Funding Period that would end after the Revolving Credit Maturity Date. The term “Funding Period” shall mean a CDOR Funding Period or a Euro-Rate Funding Period, as applicable.
Funding Periods. At any time when the Borrower shall select, convert to or renew the CD Rate Option, EuroRate Option or Base Rate Option to apply to any part of the Loans, Borrower shall fix one or more periods during which such Option shall apply, such periods (the "Funding Periods") being set forth in the chart below: Interest Rate Option Available Funding Periods CD Rate Option 30, 60 or 90 days or other period as agreed to among Borrower, the Agent and the Banks ("CD Rate Funding Period") EuroRate Option One, two, three or six month or other period as agreed to among Borrower, the Agent and the Banks ("EuroRate Funding Period") Base Rate Option One (1) day The selection of Funding Periods shall be subject to the following limitations:
(i) Each CD Rate Funding Period which would otherwise end on a day which is not a Business Day shall be extended to the next succeeding Business Day.
(ii) The initial EuroRate Funding Period for any EuroRate Portion shall begin on the day the EuroRate Portion is made (including the day of any conversion from another Interest Rate Option to a EuroRate Portion) and each renewed EuroRate Funding Period thereafter in respect of such EuroRate Portion shall begin on the day upon which the next preceding EuroRate Funding Period expires. Interest payable with respect to any EuroRate Funding Period shall include the first day, but not the last day, of such Funding Period, provided that (to the extent not repaid on such last day) interest under another Interest Rate Option is accruing on and after the last day on the Funding Segment in respect of which a EuroRate Funding Period is terminating.
(iii) If any EuroRate Funding Period would otherwise end on a day which is not a Business Day, such EuroRate Funding Period shall expire on the next succeeding Business Day unless such next succeeding Business Day falls in another calendar month, in which case such EuroRate Funding Period shall end on the next preceding Business Day.
(iv) Borrower may not fix a Funding Period that would end after the Expiration Date. Each Loan made hereunder shall mature, and the principal amount thereof shall become due and payable, on the last day of each CD Rate Funding Period, EuroRate Funding Period or Base Rate Funding Period (each such date being referred to herein as a "Funding Period Maturity Date") for such Loan.
Funding Periods. The PFS Project will have a total of eight [8] Funding Periods.
Funding Periods. At any time when a Borrower shall select, convert to or renew the LIBO Rate Option to apply to any part of the Revolving Credit Loans, the applicable Borrower shall specify one of the following periods (the "Funding Periods") during which the LIBO Rate Option shall apply: One, two, three, six months or twelve months if offered by all of the Lenders in their sole discretion; provided, that:
(i) Each Funding Period shall begin on a London Business Day, and the term "month", when used in connection with a Funding Period, shall be construed in accordance with prevailing practices in the interbank eurodollar market at the commencement of such Funding Period, as determined in good faith by the Agent (which determination shall be conclusive);
(ii) A Borrower may not select a Funding Period that would end after the Maturity Date; and
(iii) A Borrower shall, in selecting any Funding Period, allow for scheduled mandatory payments and foreseeable mandatory prepayments of the Revolving Credit Loans.
Funding Periods. At any time when the Borrower shall select, --------------- convert to or renew the Euro-Rate Option to apply to any part of the Loans, the Borrower shall specify one or more periods (the "Funding Periods") during which each such Option shall apply, such Funding Periods being as set forth below: Interest Rate Option Available Funding Periods -------------------- ------------------------- Euro-Rate Option One, two, three or six months ("Euro-Rate Funding Period") provided, that: --------
(i) Each Euro-Rate Funding Period shall begin on a London Business Day, and the term "month", when used in connection with a Euro-Rate Funding Period, shall be construed in accordance with prevailing practices in the interbank eurodollar market at the commencement of such Euro-Rate Funding Period, as determined in good faith by the Agent (which determination shall be conclusive);
(ii) In the case of Revolving Credit Loans, the Borrower may not select a Funding Period that would end after the Revolving Credit Maturity Date; and
(iii) The Borrower shall, in selecting any Funding Period, allow for scheduled mandatory payments and foreseeable mandatory prepayments of the Loans.
Funding Periods. At any time when the Borrower shall select, convert to or renew the Euro-Rate Option to apply to any part of the Loans, the Borrower shall specify one or more periods (the "Funding Periods") during which each such Option shall apply, such Funding Periods being as set forth below:
Funding Periods. (a) Subject to this clause, the Funding Period for a Liquidity Draw commences on its Drawdown Date and ends on the Payment Date in the Quarter following the Quarter in which that Drawdown Date occurred.
(b) Notwithstanding paragraph (a), no Funding Period may extend beyond the Final Repayment Date.
Funding Periods. At any time when the Borrower shall select, convert to or renew the Euro-Rate Option to apply to any part of the Letter of Credit Unreimbursed Draws, the Borrower shall specify one or more periods (the "Funding Periods") during which each such Option shall apply, such Funding Periods being as set forth below: Interest Rate Option Available Funding Periods -------------------- ------------------------- Euro-Rate Option One, two, three or six months ("Euro-Rate Funding Period"); provided, that:
(i) Each Euro-Rate Funding Period shall begin on a London Business Day, and the term "month," when used in connection with a Euro-Rate Funding Period, shall be construed in accordance with prevailing practices in the interbank eurodollar market at the commencement of such Euro-Rate Funding Period, as determined in good faith by the Agent (which determination shall be conclusive);
(ii) The Borrower may not select a Funding Period that would end after the Reimbursement Target Date; and
(iii) The aggregate number of Funding Segments of the Euro-Rate Portion at any time shall not exceed two.
Funding Periods. (a) The first funding period shall start from the Prepayment Date and end on the last day of the calendar month in which the Payment Date falls, and thereafter, each funding period shall be of one calendar month or any other period as determined by Buyer (provided that such other period selected by the Buyer shall not result in increased costs to the Seller), except the last Funding Period which shall end on the Final Discharge Date and provided always that if a Discharge Date falls within a Funding Period, such Funding Period shall end on such Discharge Date (and the next Funding Period shall begin on the following day and end on the last day of the then current calendar month or such other date as is determined by Buyer).
(b) A Funding Period in relation to a Prepayment shall not extend beyond the Final Discharge Date.
