Ineligible Interest Periods Sample Clauses

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
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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 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
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 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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Related to Ineligible Interest Periods

  • LIBOR Interest Periods In lieu of making any payment pursuant to this Section 5.2 in respect of any LIBOR Loan, other than on the last day of the Interest Period therefor so long as no Event of Default shall have occurred and be continuing, the Borrower at its option may deposit, on behalf of the Borrower, with the Administrative Agent an amount equal to the amount of the LIBOR Loan to be prepaid and such LIBOR Loan shall be repaid on the last day of the Interest Period therefor in the required amount. Such deposit shall be held by the Administrative Agent in a corporate time deposit account established on terms reasonably satisfactory to the Administrative Agent, earning interest at the then customary rate for accounts of such type. Such deposit shall constitute cash collateral for the LIBOR Loans to be so prepaid; provided that the Borrower may at any time direct that such deposit be applied to make the applicable payment required pursuant to this Section 5.2.

  • different Interest Periods If the Agent does not receive a Borrowing Notice or an Interest Rate Selection Notice giving notice of election of the duration of an Interest Period or of Conversion of any Loan to or Continuation of a Loan as a Eurodollar Rate Loan by the time prescribed by Section 2.1(c) or 2.8, the Borrower shall be deemed to have elected to Convert such Loan to (or Continue such Loan as) a Base Rate Loan until the Borrower notifies the Agent in accordance with Section 2.8.

  • 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:

  • Duration of normal Interest Periods Subject to Clauses 6.3 and 6.4, each Interest Period shall be:

  • 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.

  • Method of Selecting Types and Interest Periods for Advances The Borrower shall select the Type and Class of Advance and, in the case of each Advance of Eurodollar Rate Loans, the Interest Period applicable to each Advance from time to time. The Borrower shall give the Administrative Agent irrevocable notice in substantially the form of Exhibit B hereto (a “Borrowing/Election Notice”) not later than 11:00 a.m. (Chicago time) (a) on or before the Borrowing Date of each Advance of Floating Rate Loans and (b) three (3) Business Days before the Borrowing Date for each Advance of Eurodollar Rate Loans specifying: (i) the Borrowing Date (which shall be a Business Day) of such Advance; (ii) the aggregate amount of such Advance; (iii) the Type and Class of Advance selected; and (iv) in the case of each Advance of Eurodollar Rate Loans, the Interest Period applicable thereto; provided, however, that with respect to the borrowing on the Funding Date, such notice shall be delivered in accordance with the terms of Section 2.01(b) and shall be accompanied by the documentation specified in such Section, if applicable. The Borrower shall select Interest Periods so that, to the best of the Borrower’s knowledge, it will not be necessary to prepay all or any portion of any Advance of Eurodollar Rate Loans prior to the last day of the applicable Interest Period in order to make mandatory prepayments as required pursuant to the terms hereof. Each Advance of Floating Rate Loans and all Obligations other than Loans shall bear interest from and including the date of the making of such Advance, in the case of Advances of Floating Rate Loans, and the date such Obligation is due and owing in the case of such other Obligations, to (but not including) the date of repayment thereof at the Alternate Base Rate, changing when and as such Alternate Base Rate changes. Changes in the rate of interest on that portion of the Loans maintained as Floating Rate Loans will take effect simultaneously with each change in the Alternate Base Rate. Each Advance of Eurodollar Rate Loans shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined as applicable to such Advance, changing when and as the Applicable Margin changes. Changes in the rate of interest on that portion of the Loans maintained as Eurodollar Rate Loans will take effect simultaneously with each change in the Applicable Margin.

  • Determination of Interest Periods Every Interest Period shall be of the duration specified by the Borrowers pursuant to clause 3.2 but so that:

  • 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.

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