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.
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Samples: Loan Agreement (Foster L B Co)
Funding Periods. At any time when the Borrower shall select, convert to or renew the CD Rate Option, EuroRate Option or Base Euro-Rate Option to apply to any part of the Loans, the Borrower shall fix specify one or more periods during which such Option shall apply, such periods (the "Funding Periods") being set forth in the chart below: Interest Rate during which each such Option Available shall apply, such 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 Onebeing one, two, three or six month or other period as agreed to among Borrower, the Agent and the Banks months ("EuroRate Euro-Rate Funding Period") Base Rate Option One (1) day The selection of Funding Periods shall be subject to the following limitations); provided, that:
(i) Each CD Euro-Rate Funding Period which would otherwise end shall begin on a London Business Day, and the term "month", when used in connection with a Euro-Rate Funding Period, shall mean the interval between the Euro-Convention Dates in consecutive calendar months as to such Euro-Rate Funding Period (and the "Euro-Convention Date" in a calendar month as to any Euro-Rate Funding Period shall mean the day which in such calendar month numerically corresponding to the first day of such Euro- Rate Funding Period, except (x) if there is no such numerically corresponding day in a calendar month, the "Euro-Convention Date" for such calendar month shall mean the last London Business Day of such calendar month, (y) if the first day of such Euro-Rate Period is the last day of a calendar month, the "Euro-Convention Date" for any calendar month shall mean the last London Business Day of such calendar month and (z) otherwise, if a numerically corresponding day in a given calendar month is not a London Business Day, the "Euro-Convention Date" for such calendar month shall mean the next following day that is a London Business Day, but not later than the last Business Day shall be extended to the next succeeding Business Day.of such calendar month);
(ii) The initial EuroRate Funding Period for any EuroRate Portion shall begin on In the day the EuroRate Portion is made case of (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.A)
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Funding Periods. At any time when the Borrower shall select, convert to or renew the CD Rate Option, EuroRate Euro-Rate 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 Euro-Rate Option One, two, two or three or six month or other period as agreed to among Borrower, the Agent and the Banks ("EuroRate Euro-Rate 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 Euro-Rate Funding Period for any EuroRate Portion shall begin on the day the EuroRate Euro-Rate Portion is made (including the day of any conversion from another Interest Rate Option to a EuroRate Euro-Rate Portion) and each renewed EuroRate Euro-Rate Funding Period thereafter in respect of such EuroRate Euro-Rate Portion shall begin on the day upon which the next preceding EuroRate Euro-Rate Funding Period expires. Interest payable with respect to any EuroRate Euro-Rate 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 Euro-Rate Funding Period is terminating.
(iii) If any EuroRate Euro-Rate Funding Period would otherwise end on a day which is not a Business Day, such EuroRate Euro-Rate 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 Euro-Rate 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 Euro-Rate Funding Period or Base Rate Funding Period (each such date being referred to herein as a "Funding Period Maturity Date") for such Loan.
Appears in 1 contract
Samples: Loan Agreement (Foster L B Co)
Funding Periods. At any time when the Borrower shall select, convert to or renew the CD Rate Option, EuroRate Option or Base Euro-Rate Option to apply to any part of the Loans, the Borrower shall fix specify one or more periods during which such Option shall apply, such periods (the "Funding Periods") being set forth in the chart below: Interest Rate during which each such Option Available shall apply, such 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 Onebeing one, two, three or six month or other period as agreed to among Borrower, the Agent and the Banks months ("EuroRate Euro-Rate Funding Period") Base Rate Option One (1) day The selection of Funding Periods shall be subject to the following limitations); PROVIDED, that:
(i) Each CD Euro-Rate Funding Period which would otherwise end shall begin on a London Business Day, and the term "month", when used in connection with a Euro-Rate Funding Period, shall mean the interval between the Euro-Convention Dates in consecutive calendar months as to such Euro-Rate Funding Period (and the "Euro-Convention Date" in a calendar month as to any Euro-Rate Funding Period shall mean the day which in such calendar month numerically corresponding to the first day of such Euro-Rate Funding Period, except (x) if there is no such numerically corresponding day in a calendar month, the "Euro-Convention Date" for such calendar month shall mean the last London Business Day of such calendar month, (y) if the first day of such Euro-Rate Period is the last day of a calendar month, the "Euro-Convention Date" for any calendar month shall mean the last London Business Day of such calendar month and (z) otherwise, if a numerically corresponding day in a given calendar month is not a London Business Day, the "Euro-Convention Date" for such calendar month shall mean the next following day that is a London Business Day, but not later than the last Business Day shall be extended to the next succeeding Business Day.of such calendar month);
(ii) The initial EuroRate Funding Period for any EuroRate Portion shall begin on In the day case of (A) Tranche 1 Loans, 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 select a Funding Period that would end after the Expiration Tranche 1 Maturity Date. Each Loan made hereunder shall mature, (B) Tranche 2 Loans, the Borrower may not select a Funding Period that would end after the Tranche 2 Conversion Date, unless the Tranche 2 Conversion Date has occurred, in which case the Borrower may not select a Funding Period that would end after the Tranche 2 Maturity Date, and (C) Tranche 3 Loans, the principal amount thereof shall become due and payableBorrower may not select a Funding Period that would end after the Tranche 3 Maturity Date; and
(iii) The Borrower shall, on the last day of each CD Rate in selecting any Funding Period, EuroRate Funding Period or Base Rate Funding Period (each such date being referred to herein as a "Funding Period Maturity Date") allow for such Loanscheduled mandatory payments and foreseeable mandatory prepayments of the Loans.
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Funding Periods. At any time when the a Borrower shall select, convert to or renew the CD Rate Option, EuroRate Euro-Rate Option or Base Rate Option to apply to any part of the Loans, such 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 such Borrower, the Agent and the Banks ("CD Rate Funding Period") EuroRate Euro-Rate Option One, two, three or six month or other period as agreed to among such Borrower, the Agent and the Banks ("EuroRate Euro-Rate 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 Euro-Rate Funding Period for any EuroRate Euro-Rate Portion shall begin on the day the EuroRate Euro-Rate Portion is made (including the day of any conversion from another Interest Rate Option to a EuroRate Euro-Rate Portion) and each renewed EuroRate Euro-Rate Funding Period thereafter in respect of such EuroRate Euro-Rate Portion shall begin on the day upon which the next preceding EuroRate Euro-Rate Funding Period expires. Interest payable with respect to any EuroRate Euro-Rate 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 Euro-Rate Funding Period is terminating.
(iii) If any EuroRate Euro-Rate Funding Period would otherwise end on a day which is not a Business Day, such EuroRate Euro-Rate 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 Euro-Rate Funding Period shall end on the next preceding Business Day.
(iv) a 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 Euro-Rate Funding Period or Base Rate Funding Period (each such date being referred to herein as a "Funding Period Maturity Date") for such Loan.
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Samples: Loan Agreement (Foster L B Co)