Interest and Interest Periods. 3.1 Subject to the terms of this Agreement, the rate of interest applicable to the Loan for each Interest Period relating thereto shall be the rate per annum determined by the Lender to be the aggregate of (a) the Margin, (b) the Relevant Interest Rate and (c) the Mandatory Cost Rate.
3.2 Subject to the terms of this Agreement, the Borrower shall pay interest in respect of the Loan for each Interest Period relating thereto in arrears on the last day of such Interest Period, provided that where such Interest Period is of a duration of longer than six (6) months, accrued interest in respect of the Loan shall be paid every six (6) months during such Interest Period and on the last day of such Interest Period.
3.3 The duration of each Interest Period shall be three (3), six (6) or twelve (12) as notified by the Borrower to the Lender not later than 11.00 a.m. (London time) two (2) Business Days prior to the commencement of such Interest Period (or such other period as the Lender, in its sole and absolute discretion, may agree), provided that:
(a) the first Interest Period in relation to the Loan shall commence on the Drawdown Date and each subsequent Interest Period shall commence on the expiry of the preceding Interest Period;
(b) if the Borrower fails to select an Interest Period then, subject as provided in this Clause 3.3, the Borrower shall be deemed to have selected an Interest Period of six (6) months;
(c) the selection of Interest Periods under this Clause 3.3 shall be made in such manner as to ensure that the expiry of an Interest Period in respect of an amount of the Loan equal to the repayment instalment which is then due to be repaid under Clause 4.1 shall coincide with each Repayment Date relating to the Loan; and
(d) the Lender, in its sole and absolute discretion, is satisfied that deposits in Dollars for a period equal to such Interest Period will be available to the Lender in the London Interbank Market at the commencement of such Interest Period and, if the Lender is not so satisfied, such Interest Period shall be of such duration as the Lender and the Borrower shall agree (or, in the absence of such agreement, as the Lender shall specify).
3.4 In the event that the Lender does not receive on the due date any sum due under this Agreement or any of the Security Documents to which the Borrower is a party (or any agreement entered into by the Borrower in connection herewith or therewith), the Borrower shall pay to the Lender on demand interest o...
Interest and Interest Periods. 9.1 Calculation, accrual and payment
Interest and Interest Periods. 10 4 Repayment and prepayment............................................ 11 5 Fees and expenses................................................... 13 6 Payments and taxes; accounts and calculations....................... 13 7 Representations and warranties...................................... 15 8 Undertakings........................................................ 19 9 Conditions.......................................................... 24
Interest and Interest Periods alternative interest rates
Interest and Interest Periods. 38 6. REPAYMENT, PREPAYMENT, CANCELLATION AND REDUCTIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41
Interest and Interest Periods. 17 4 Repayment and prepayment.............................................. 19
Interest and Interest Periods. 3.1 Normal interest rate The Borrowers agree to pay interest on each Tranche in respect of each Interest Period relating thereto on each Interest Payment Date (or, in the case of Interest Periods of more than six (6) months, by instalments, the first six (6) months from the commencement of the Interest Period and the subsequent instalments at intervals of six (6) months) at the rate per annum determined by the Bank to be the aggregate of (a) the Margin and (b) LIBOR for such period.
Interest and Interest Periods. 3.1 Interest rate and due date
Interest and Interest Periods. 38 6. REPAYMENT, PREPAYMENT, CANCELLATION AND REDUCTIONS.......................41
Interest and Interest Periods. 4 Repayment and prepayment 5 Fees, commitment commission and expenses
