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.
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Samples: Short Term Revolving Credit Agreement (Foster Wheeler Corp), Revolving Credit Agreement (Foster Wheeler Corp)
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 PERIODSFunding Periods") during which each such Option shall apply, such Funding Periods being as set forth below: INTEREST RATE OPTION AVAILABLE FUNDING PERIODS 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 Rate Funding Period"); and Euro-Rate Option One, two, three or six months or such longer period as may be offered by all of the Lenders ("EUROEuro-RATE FUNDING PERIODRate Funding Period"); PROVIDEDprovided, 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 Funding 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.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Foster Wheeler Corp), Short Term Revolving Credit Agreement (Foster Wheeler Corp)
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 PERIODSFunding Periods") during which each such Option shall apply, such Funding Periods being as set forth below: INTEREST RATE OPTION AVAILABLE FUNDING PERIODS 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 Rate Funding Period"); and Euro-Rate Option One, two, three or six months or such longer period as may be offered by all of the Lenders ("EUROEuro-RATE FUNDING PERIODRate Funding Period"); PROVIDEDprovided, 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 The Borrower may not select a Funding Period that would end after the Revolving Credit Maturity Date; and
(iv) The Borrower shall, in selecting any Funding Period, allow for scheduled mandatory payments of the Loans.
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Funding Periods. At any time when the Borrower Company (acting on behalf of the applicable 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 Company (acting on behalf of the applicable 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 PeriodPERIOD"); 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 Company (acting on behalf of the applicable Borrower) may not select a Funding Period that would end after the Revolving Credit Maturity Date.
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