Ineligible Interest Periods Sample Clauses

Ineligible Interest Periods. If, on any date the Banks are to make a LIBO Loan or Foreign Currency Loan or on any Effective Date, the period of time from such date or such Effective Date to the Commitment Termination Date or final repayment date is less than an Interest Period which the Borrowers could otherwise elect, the Borrowers will elect a LIBO Loan or Foreign Currency Loan whose Interest Period will end on or before the Commitment Termination Date or the final repayment date, as necessary. If an appropriate Interest Period is not available, then the Loan shall be made at the Base Rate.
Sample 1
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Ineligible Interest Periods. 36 SECTION 2.20 Prepayment...................................... 36 SECTION 2.21 Availability of Rate Quotations................. 38 SECTION 2.22 Reimbursement for Funding Loss or Per Diem Carry Loss on Fixed Rate Loans............. 39 SECTION 2.23 Currency Hedge Indemnification.................. 39
Sample 1
Ineligible Interest Periods. If, on any date the Bank is to make a LIBOR Loan, an Offered Rate Loan, a Fixed Rate Loan or on any Effective Date, the period of time from such date or such Effective Date to the Termination Date or final repayment date is less than an Interest Period which the Borrowers could otherwise elect, the Borrowers will elect a LIBOR Loan, Offered Rate Loan or Fixed Rate Loan whose Interest Period will end on or before the Termination Date or the final repayment date, as necessary. If an appropriate Interest Period is not available, then the Loan shall be made in Dollars at the Adjusted Prime Rate.
Sample 1
Ineligible Interest Periods. If, on any date the Lenders are to make an Advance all or a portion of which is to earn interest at the Adjusted LIBOR or on any Effective Date with respect to a LIBOR Loan, the period of time from such date or such Effective Date to the Termination Date is less than an Interest Period which the Borrower could otherwise elect, the Borrower will elect a LIBOR Loan whose Interest Period will end on or before the Termination Date, as necessary. If an appropriate Interest Period is not available, then the requested Advance shall earn interest at the Adjusted Base Rate.
Sample 1
Ineligible Interest Periods. If, on any date the Banks are to make a LIBO Loan or on any Effective Date, the period of time from such date or such Effective Date to the Commitment Termination Date or final repayment date is less than an Interest Period which the Borrowers could otherwise elect, the Borrowers will elect a LIBO Loan whose Interest Period will end on or before the Commitment Termination Date or the final repayment date, as necessary. If an appropriate Interest Period is not available, then the Loan shall be made at the Adjusted Base Rate.
Sample 1
Ineligible Interest Periods. If, on any date Lenders are to make a LIBOR Tranche or on any Effective Date, the period of time from such date or such Effective Date to the Final Repayment Date is less than an Interest Period which Borrowers could otherwise elect, Borrowers will elect a LIBOR Tranche whose Interest Period will end on or before the Final Repayment Date, as necessary. If an appropriate Interest Period is not available, then the requested Loan or Advance shall bear interest at the Adjusted Base Rate.
Sample 1
Ineligible Interest Periods. If, on any date the Banks are to make an Advance all or a portion of which is to earn interest at the Adjusted LIBO Rate or on any Effective Date with respect to a Revolving Credit LIBO Rate Tranche, the period of time from such date or such Effective Date to the earlier of January 17, 1997 and the Termination Date is less than an Interest Period which the Borrowers could otherwise elect, the Borrowers will elect a Revolving Credit LIBO Rate Tranche whose Interest Period will end on or before the earlier of January 17, 1997 and the Termination Date, as necessary; provided, however, that on and after the Third Amendment Date, the Borrowers shall not have the right to or the right to request, and the Banks shall have no obligation to make an Advance, of a LIBO Loan. If an appropriate Interest Period is not available, then the requested Advance shall be made at the Adjusted Base Rate. If on any date the Banks are to convert a Term Loan Base Rate Tranche to a Term Loan LIBO Rate Tranche or on any Effective Date with respect to a Term Loan LIBO Rate Tranche, the period of time from such date or such Effective Date to the earlier of January 17, 1997 and the Maturity Date is less than an Interest Period which the Borrowers could otherwise elect, the Borrowers will elect a Term Loan LIBO Rate Tranche whose Interest Period will end on or before the earlier of January 17, 1997 and the Maturity Date, as necessary. If an appropriate Interest Period is not available, then the requested Term Loan LIBO Rate Tranche shall continue to earn interest at the Adjusted Base Rate.
Sample 1
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Related to Ineligible Interest Periods

  • Interest Periods In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a), shall elect an interest period (each, an "Interest Period") to be applicable to such Loan, which Interest Period shall be a period of one (1), two (2), three (3) or six (6) months with respect to each LIBOR Rate Loan; provided that: (i) the Interest Period shall commence on the date of advance of or conversion to any LIBOR Rate Loan or and, in the case of immediately successive Interest Periods, each successive Interest Period shall commence on the date on which the next preceding Interest Period expires; (ii) if any Interest Period would otherwise expire on a day that is not a Business Day, such Interest Period shall expire on the next succeeding Business Day; provided, that if any Interest Period with respect to a LIBOR Rate Loan would otherwise expire on a day that is not a Business Day but is a day of the month after which no further Business Day occurs in such month, such Interest Period shall expire on the next preceding Business Day; (iii) any Interest Period with respect to a LIBOR Rate Loan that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the relevant calendar month at the end of such Interest Period; (iv) no Interest Period shall be permitted to extend beyond the Termination Date; and (v) there shall be no more than five (5) Interest Periods outstanding at any time.

  • Duration of normal Interest Periods Subject to Clauses 6.3 and 6.4, each Interest Period shall be: (a) 3 or 6 months; or (b) such other period (as proposed by the Borrower to the Agent not later than 11:00 a.m. (Hamburg time) 5 Business Days before the commencement of the Interest Period) as the Agent may, with the authorisation of the Majority Lenders, agree with the Borrower (failing which the Interest Period shall be three months).

  • Interest Period Commencing on the first (1st) Payment Date of the month following the month in which the Funding Date of the applicable Term Loan Advance occurs, and continuing on each Payment Date thereafter, Borrower shall make monthly payments of interest on the principal amount of each Term Loan Advance at the rate set forth in Section 2.2(a).

  • Number of Interest Periods There may be no more than 6 different Interest Periods for LIBOR Loans outstanding at the same time.

  • Determination of Interest Periods The length of each Interest Period shall be as requested by the Borrowers under clause 3.2 but so that: 3.3.1 the first Interest Period in respect of each Tranche shall start on the Drawdown Date in respect of the first Advance in respect of that Tranche, and each subsequent Interest Period shall start on the last day of the previous Interest Period; 3.3.2 the first Interest Period in respect of each subsequent Advance shall commence on its Drawdown Date and terminate simultaneously with the Interest Period which is then current for the Tranche under which the Advance is made available; 3.3.3 if any Interest Period would otherwise overrun a Repayment Date, then, in the case of the last Repayment Date, such Interest Period shall end on such Repayment Date, and in the case of any other Repayment Date the relevant Tranche shall be divided into parts so that there is one part in the amount of the repayment instalment due on each Repayment Date falling in that Interest Period and having an Interest Period ending on the relevant Repayment Date and another part consisting of the balance of the relevant Tranche having an Interest Period ascertained in accordance with the other provisions of this clause 3; and 3.3.4 if the Borrowers fail to specify the length of an Interest Period in accordance with the provisions of clause 3.2 and this clause 3.3 such Interest Period shall last three months or such other period as complies with this clause 3.3.

  • Rest Periods All employees shall have two (2), fifteen (15) minute rest periods in each work period in excess of six (6) hours, one (1) rest period to be granted before and one (1) after the meal period. Employees working a shift of three and one-half (3½) hours, but not more than six (6) hours, shall receive one (1) rest period during such a shift. Rest periods shall not begin until one (1) hour after the commencement of work or not later than one (1) hour before either the meal period or the end of the shift. Rest periods shall be taken without loss of pay to the employees.

  • Notice of Interest Period and Interest Rate Promptly after receipt of a Notice of Borrowing pursuant to Section 2.02(a), a notice of Conversion pursuant to Section 2.09 or a notice of selection of an Interest Period pursuant to the definition of “Interest Period”, the Administrative Agent shall give notice to the Borrower and each Lender of the applicable Interest Period and the applicable interest rate determined by the Administrative Agent for purposes of clause (a)(i) or (a)(ii) above.

  • Changes to Interest Periods (a) Prior to determining the interest rate for a Facility A Loan, the Agent may shorten an Interest Period for any Facility A Loan to ensure there are sufficient Facility A Loans with an Interest Period ending on a Facility A Repayment Date for the Borrowers to make the Repayment Instalment due on that Facility A Repayment Date. (b) If the Agent makes any of the changes to an Interest Period referred to in this Clause 13.2, it shall promptly notify the Company and the Lenders.

  • Method of Selecting Types and Interest Periods for New Advances The Borrower shall select the Type of Advance and, in the case of each Eurodollar Advance, the Interest Period applicable thereto from time to time. The Borrower shall give the Administrative Agent irrevocable notice (a "Borrowing Notice") not later than 11:00 a.m. (Chicago time) on the Borrowing Date of each Floating Rate Advance and not later than 11:00 a.m. (Chicago time) three Business Days before the Borrowing Date for each Eurodollar Advance, specifying: (i) the Borrowing Date, which shall be a Business Day, of such Advance, (ii) the aggregate amount of such Advance, (iii) the Type of Advance selected, and (iv) in the case of each Eurodollar Advance, the Interest Period applicable thereto. Not later than noon (Chicago time) on each Borrowing Date, each Lender shall make available its Loan or Loans in funds immediately available in Chicago to the Administrative Agent at its address specified pursuant to Article XIII. The Administrative Agent will make the funds so received from the Lenders available to the Borrower at the Administrative Agent's aforesaid address.

  • Additional Rest Periods When an employee performs authorized overtime work of at least three (3) hours duration, the Hospital will schedule a rest period of fifteen (15) minutes duration.

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