Interest Period Elections Sample Clauses

Interest Period Elections. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing.
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Interest Period Elections. (a) Each Borrowing (i) which is outstanding on the First Anniversary shall automatically convert to a Eurocurrency Borrowing on the First Anniversary and (ii) made on or after the First Anniversary shall constitute a Eurocurrency Borrowing as of the date of the Borrowing, in each case with an initial Interest Period as specified in such Borrowing Request or otherwise designated by Section 2.03. Thereafter, each Borrower may elect Interest Periods therefor, as provided in this Section. Each Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing. (b) To make an election pursuant to this Section, the applicable Borrower shall notify the Administrative Agent of such election by telephone not later than 2:00 p.m., New York City time, three Business Days before the date of the proposed effective date of such election. Each such telephonic Interest Period Election Request shall be irrevocable and confirmed promptly by hand delivery, facsimile or other electronic transmission to the Administrative Agent of a written Interest Period Election Request signed by the applicable Borrower. (c) Each telephonic and written Interest Period Election Request shall specify the following information: (i) the effective date of the election made pursuant to such Interest Period Election Request, which shall be a Business Day; (ii) the Interest Period to be applicable thereto after giving effect to such election, which shall be a period contemplated by the definition of the term “Interest Period.” (d) Promptly following receipt of an Interest Period Election Request in accordance with this Section, the Administrative Agent shall advise each Lender of the applicable Class of the details thereof and of such Lender’s portion of each resulting Borrowing. (e) If the applicable Borrower fails to deliver a timely Interest Period Election Request with respect to a Eurocurrency Borrowing prior to the end of the Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period, the applicable Borrower shall be deemed to have selected an Interest Period of one month’s duration.
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Interest Period Elections. The Borrower shall make Interest Period Elections, ------------------------- from time to time, and the Borrower shall be entitled to select a one-month Interest Period reset daily or a fixed Interest Period of 1, 2, 3 or 6 months in duration.
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Interest Period Elections. By delivering a UK Interest Period Election Notice to the UK Agent on or before 1:00 p.m. (Local Time) on a Business Day, the UK Borrower may, with respect to any UK Loan, from time to time irrevocably elect, on not less than three nor more than five Business Day's notice prior to the last day of the then current Interest Period applicable thereto, the subsequent Interest Period applicable to all or any portion of such UK Loans in an aggregate minimum amount of UKpound sterling $1,000,000 and an integral multiple of UKpound sterling $100,000 Loans. In the absence of timely delivery of a UK Interest Period Election Notice, the UK Borrower shall be deemed to have elected an Interest Period with a duration of one month.
Sample 1
Interest Period Elections. Interest Period Elections for purposes hereof shall be determined as follows: Borrower shall make Interest Period Elections, from time to time. Borrower shall be entitled to select Interest Periods of 1,2,3 or 6 months in duration; and the terms of Section 3 below shall apply.
Sample 1
Interest Period Elections. Each Borrowing shall have an initial Interest Period as specified in the applicable Borrowing Request. At the end of each Interest Period for a Borrowing, the Borrower shall notify the Administrative Agent of the next Interest Period to be in effect for such Borrowing by the time that a Borrowing Request would be required under Section 2.02. Each such request shall be irrevocable. If the Borrower shall not have timely specified an Interest Period for any Borrowing, then it will be deemed to have selected an Interest Period of one month's duration.
Sample 1

Related to Interest Period Elections

  • 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).

  • Rest Period During each normal work day, Saturdays, Sundays, and shift work, employees will be entitled to two (2) ten (10) minute paid rest periods to be scheduled and observed. When working a four (4) day, ten (10) hour schedule, the rest period will be fifteen (15) minutes each. - one (1) rest period at the mid-way point of the first half of the normal hours of work; - one (1) rest period at the mid-point of the second half of the normal hours of work. Rest period will be measured from ceasing work to commencement of labour and will be taken at a time determined by the employer.

  • 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.

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

  • Meal/Rest Periods All nurses shall receive an unpaid meal period of one-half (1/2) hour. Nurses required to remain on duty or in the Hospital during their meal period shall be compensated for such time at the appropriate rate of pay. All nurses shall receive one (1) fifteen

  • 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.

  • Selection of Interest Periods (a) A Borrower may select an Interest Period for a Loan in the Utilisation Request for that Loan. (b) Subject to this Clause 9, a Borrower may select an Interest Period of one (1), two (2), three (3) or six (6) months or any other period agreed between the Borrower and the Agent (acting on the instructions of all the Lenders). (c) An Interest Period for a Loan shall not extend beyond the Termination Date. (d) Each Interest Period for a Loan shall start on the Utilisation Date. (e) A Loan has one Interest Period only.

  • 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.

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