Interest Period Options Sample Clauses

Interest Period Options. Upon notice (a "Continuation -------------------------- Request") given to the Administrative Agent no later than 11:00 a.m. (Houston time) at least two (2) Business Days prior to the expiration of an Interest Period applicable to any Eurodollar Rate Loan, the Borrower may elect to continue such Eurodollar Rate Loan upon the expiration of the then applicable Interest Period for another Interest Period of the duration specified in such notice; provided, however, that no Eurodollar Rate Loan may be continued as a Eurodollar Rate Loan when any Default or Event of Default is continuing, and on the last day of the then current Interest Period with respect thereto each Eurodollar Rate Loan shall convert to a Base Rate Loan; and provided further that the Eurodollar Rate Loans to which a particular Interest Period applies shall be in an aggregate principal amount of $3,000,000 or an integral multiple of $250,000 in excess thereof. Each continuation of a Eurodollar Rate Loan hereunder shall be allocated between the Lenders in proportion, as nearly as practicable, to such Lender's Commitment Percentage, with adjustments to the extent practicable to equalize any prior continuations not exactly in proportion.
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Interest Period Options. Upon notice (a "Continuation or Conversion Notice") given to the Agent no later than 11:00 a.m. (Boston time) at least three (3) LIBOR Business Days' prior to the expiration of an Interest Period applicable to any LIBOR Loan, or the commencement of any Interest Period for any Base Rate Loan to be converted to a LIBOR Loan, the Borrower may elect to continue such Loan as a LIBOR Loan upon the expiration of the then applicable Interest Period for another Interest Period of the duration specified in such notice, or convert a Base Rate Loan to a LIBOR Loan for the Interest Period specified in such notice; provided that no LIBOR Loan may be continued, and no Base Rate Loan may be converted to a LIBOR Loan when any Default or Event of Default has occurred and is continuing; provided further that the LIBOR Loan to which any particular Interest Period applies shall be in an aggregate principal amount of at least $500,000 or an integral multiple of $100,000 in excess thereof. Each continuation of a LIBOR Loan hereunder, and each conversion of a Base Rate Loan to a LIBOR Loan, shall be allocated between the Banks in proportion, as nearly as practicable, to such Bank's Commitment Percentage, with adjustments to the extent practicable to equalize any prior continuations not exactly in proportion. Any portion of the Loans for which the Borrower shall not have delivered a timely Continuation or Conversion Notice in accordance with the terms hereof shall be a Base Rate Loan upon the expiration of the current Interest Period for such Loan, until such time as such Base Rate Loan is converted to a LIBOR Loan in accordance with the terms hereof.
Sample 1
Interest Period Options. Upon notice (a "Continuation -------- ------ ------- Request") given to the Administrative Agent no later than 11:00 a.m. (Boston time) at least two (2) Eurodollar Business Days' prior to the expiration of an Interest Period applicable to any Eurodollar Loan, the Borrower may elect to continue such Eurodollar Loan upon the expiration of the then applicable Interest Period for another Interest Period of the duration specified in such notice; provided, however, that no Eurodollar Loan may be continued for an Interest Period in excess of seven (7) days when any Default or Event of Default is continuing; and provided further that the Eurodollar Loans to which a particular Interest Period applies shall be in an aggregate principal amount of $3,000,000 or an integral multiple of $250,000 in excess thereof. Each continuation of a Eurodollar Loan hereunder shall be allocated between the Banks in proportion, as nearly as practicable, to such Bank's ST Commitment Percentage or MT Commitment Percentage (as the case may be), with adjustments to the extent practicable to equalize any prior continuations not exactly in proportion.
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Interest Period Options. 23 Section 3.3. INDEMNITY............................................................................................24 Section 3.4. FUNDS FOR PAYMENTS...................................................................................24 Section 3.5. COMPUTATIONS.........................................................................................25
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Interest Period Options. Upon notice (a "CONTINUATION REQUEST") given to the Administrative Agent no later than 11:00 a.m. (Boston time) at least two (2) Business Days', or in the case of Eurocurrency Rate Loans in Euros, four (4) Business Days', prior to the expiration of an Interest Period applicable to any Eurocurrency Rate Loan, the Borrower may elect to continue such Eurocurrency Rate Loan upon the expiration of the then applicable Interest Period for another Interest Period of the duration specified in such notice; PROVIDED, HOWEVER, that no Eurocurrency Rate Loan may be continued for an Interest Period in excess of seven (7) days when any Default or Event of Default is continuing; and PROVIDED FURTHER that the Eurocurrency Rate Loans to which a particular Interest Period applies shall be in an aggregate principal amount of $3,000,000 (or the equivalent thereof if requested in Euros) or an integral multiple of $250,000 (or the equivalent thereof if requested in Euros) in excess thereof. Each continuation of a Eurocurrency Rate Loan hereunder shall be allocated between the Banks in proportion, as nearly as practicable, to such Bank's Commitment Percentage or Commitment Percentage (as the case may be), with adjustments to the extent practicable to equalize any prior continuations not exactly in proportion.
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Interest Period Options. 20 Section 3.3
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Interest Period Options. 23 Section 3.3 Computation of Interest and Fees.............................24 Section 3.4 Payments Generally; Agent's Clawback.........................24 Section 3.5 Taxes........................................................25 Section 3.6 Illegality...................................................26 Section 3.7
Sample 1
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Interest Period Options. Upon notice (a “Continuation Request”) given to the Administrative Agent no later than 11:00 a.m. (Dallas time) at least two (2) Business Days’, or in the case of Eurocurrency Rate Loans in Euros, four (4) Business Days’, prior to the expiration of an Interest Period applicable to any Eurocurrency Rate Loan, the Borrower may elect to continue such Eurocurrency Rate Loan upon the expiration of the then applicable Interest Period for another Interest Period of the duration specified in such notice; provided, however, that no Eurocurrency Rate Loan may be continued for an Interest Period in excess of seven (7) days when any Default or Event of Default is continuing; and provided further that the Eurocurrency Rate Loans to which a particular Interest Period applies shall be in an aggregate principal amount
Sample 1

Related to Interest Period Options

  • 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.

  • 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.

  • 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).

  • 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.

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

  • 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:

  • 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.

  • Conversions and Elections of Subsequent Interest Periods Subject to the limitations set forth below and in Article IV hereof, the Borrower may:

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