Interest Period Notice Sample Clauses

Interest Period Notice. The Borrower shall serve the Interest Period Notice to the Agent not later than 12:00 noon (Norwegian time) three (3) Banking Days prior to the beginning of each Interest Period specifying the duration of the next Interest Period.
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Interest Period Notice. Each Borrower shall, prior to 11:00 a.m. (New York City time), at least three Banking Days prior to the commencement of each Interest Period, give the Administrative Agent irrevocable notice of such Borrower’s election for such Interest Period to have a duration of one, three or six months. Upon receipt of such notice from the applicable Borrower, the Administrative Agent shall promptly notify each Bank thereof. In the event that either Borrower fails to timely select in accordance herewith the duration of any Interest Period, such Borrower will be deemed to have selected an Interest Period of a duration equal to the shorter of (i) the period of time remaining until the next succeeding Loan Payment Date, and (ii) the same duration as the immediately preceding Interest Period.
Sample 1
Interest Period Notice. Section 4.4 of the Loan Agreement is hereby amended by adding the following sentence at the end thereof: “Notwithstanding anything herein to the contrary, except as contemplated in clause (ii) of the proviso to the definition of the term ‘Interest Period’, with respect to the Advances made to each Borrower there shall be only one Interest Period outstanding at any time.”
Sample 1
Interest Period Notice. If at any time Borrower fails to give timely notice of its Interest Period selection, then Borrower shall be deemed to have selected an Interest Period of thirty (30) days. No Interest Period shall end after the Scheduled Maturity Date. Interest will be payable in full at the end of each Interest Period, provided that accrued interest will be payable every ninety (90) days for Interest Periods greater than 90 days.
Sample 1
Interest Period Notice. Subject to the terms of this Agreement, the Borrower may select the applicable Interest Period to continue for the Advances under this Section 2.02 by delivering an irrevocable Notice of Interest Period to the Administrative Agent at the Administrative Agent’s office no later than 10:00 a.m. (Dallas, Texas time) on the date which is at least three Business Days in advance of the termination of the then applicable Interest Period. Each such Notice of Interest Period shall be in writing or by telex or telecopier confirmed immediately in writing specifying the information required therein. Promptly after receipt of a Notice of Interest Period under this Section, the Administrative Agent shall provide each Lender with a copy thereof and notify each Lender of the applicable interest rate under Section 2.06. If any such Notice of Interest Period does not specify an Interest Period, or if the Borrower fails to provide a Notice of Interest Period to the Administrative Agent by or on the date which is at least three Business Days in advance of the termination of the then applicable Interest Period, then Borrower shall be deemed to have selected an Interest Period of three months’ duration.
Sample 1

Related to Interest Period Notice

  • 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).

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

  • 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.

  • 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.

  • 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:

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

  • 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.

  • Notification of Interest Periods and rates of normal interest The Agent shall notify the Borrower and each Lender of:

  • Duration of Interest Periods The duration of each Interest Period relating to the Advance shall, save as otherwise provided herein, be one, three, six or twelve months, or any such other period as may be agreed from time to time between the Borrower and the Agent, in each case as the Borrower may select by not less than three business days' prior notice to the Agent Provided that:

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