Interest Period Options Sample Clauses

Interest Period OptionsUpon notice (a “Continuation Request”) given to the Administrative Agent no later than noon (New York time) at least two (2) Business Days prior to the expiration of any 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 among the Lenders in proportion, as nearly as practicable, to each Lender’s Commitment Percentage, with adjustments to the extent practicable to equalize any prior continuations not exactly in proportion.
AutoNDA by SimpleDocs
Interest Period OptionsUpon 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.
Interest Period OptionsUpon notice (a "Continuation or Conversion Notice") given to the Agent no later than 11:00 a.m. (Boston time) at least three (3) Business Days' prior to the expiration of an Interest Period applicable to any Eurodollar Rate Loan, or the commencement of any Interest Period for any Base Rate Loan to be converted to a Eurodollar Rate Loan, the Borrower may elect to continue such Loan as a Eurodollar Rate 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 Eurodollar Rate Loan for the Interest Period specified in such notice; provided that no Eurodollar Rate Loan may be continued, and no Base Rate Loan may be converted to a Eurodollar Rate Loan when any Default or Event of Default has occurred and is continuing; provided further that the Eurodollar Rate 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 Eurodollar Rate Loan hereunder, and each conversion of a Base Rate Loan to a Eurodollar Rate Loan, shall be allocated between the Banks in proportion, as nearly as practicable, to each Bank's Commitment Percentage, with adjustments to the extent practicable to equalize any prior continuations not exactly in proportion. After giving effect to all Borrowings, all conversions of Loans from one Type to the other, and all continuations of Loans as the same Type, there shall not be more than six (6) Interest Periods in effect with respect to Loans. 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 Eurodollar Rate Loan in accordance with the terms hereof.
Interest Period OptionsUpon 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
Interest Period Options. 23 Section 3.3. INDEMNITY............................................................................................24 Section 3.4. FUNDS FOR PAYMENTS...................................................................................24 Section 3.5. COMPUTATIONS.......................................................................................
Interest Period OptionsUpon 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.
Interest Period Options. 23 Section 3.3 Computation of Interest and Fees...........................
AutoNDA by SimpleDocs
Interest Period Options. 20 Section 3.3

Related to Interest Period Options

  • 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.

  • 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: (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).

  • 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.

  • Rest Period After Overtime (a) When overtime work is necessary, it will, wherever reasonably practicable, be so arranged that employees have at least 10 consecutive hours off duty between the work of successive days or shifts, including overtime. (b) An employee, other than a casual employee, who works so much overtime between the termination of their ordinary work on one day and the commencement of their ordinary work on the next day, that they have not had at least 10 consecutive hours off duty between those times, will be released after completion of such overtime, until they have had 10 consecutive hours off duty without loss of pay for ordinary working time occurring during such a absence. (c) If, on the instruction of the employer, an employee resumes or continues to work without having had 10 consecutive hours off duty, they will be paid at the rate of double time until released from duty for such period. The employee will then be entitled to be absent until they have had 10 consecutive hours off duty without loss of pay for rostered ordinary hours occurring during the absence.

  • 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.

  • 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.

  • Duration of Interest Periods 13 2.6 Interest Rates and Payments of Interest............................................. 14 2.7 Changed Circumstances............................................................... 14 2.8 The Loan Account.................................................................... 15 2.9 Statement of Loan Account........................................................... 16 2.10 Payments and Prepayments of the Loans............................................... 16 2.11

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!