Interest Periods for Advances Sample Clauses

Interest Periods for Advances. 13 5. Payment And Calculation Of Interest On Advances................................................
Sample 1
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Interest Periods for Advances. 4.1 INTEREST PERIODS The period for which an Advance is outstanding shall be divided into successive periods each of which (other than the first, which shall begin on the day such Advance is made) shall start on the last day of the preceding such period. 4.2 DURATION The duration of each Interest Period shall, save as otherwise provided herein, be one or two weeks or such other period not being less than 3 days (or such other periods with the prior consent of the Facility Agent), in each case as the Borrower to which such Advance is made may by not less than four Business Days' prior notice to the Facility Agent select (or such other period as the Banks may agree), PROVIDED THAT: 4.2.1 if such Borrower fails to give such notice of its selection in relation to an Interest Period, the duration of that Interest Period shall, subject to sub-clause 4.2.2, be one week; and 4.2.2 no Interest Period shall extend beyond the Repayment Date.
Sample 1
Interest Periods for Advances. 3.2.1 Interest payable on each Advance shall be calculated by reference to successive Interest Periods of 1, 2, 3 or 6 Months duration (or, in each case, such other interest periods as the Agent may allow) subject to the remaining provisions of this Clause 3.2. 3.2.2 The first Interest Period for each Advance shall begin on the Drawdown Date of that Advance. Each succeeding Interest Period for that Advance shall begin on the Interest Date of the previous Interest Period. In relation to subsequent Interest Periods for each Advance, the Borrower shall notify the Agent in writing 2 Business Days before the end of the then current Interest Period of the duration of the next Interest Period. If the Borrower fails to provide such notice within the required time, the duration for the next Interest Period shall be one Month. 3.2.3 If an Interest Period would otherwise end on a day which is not a Business Day, that Interest Period shall instead end on the next Business Day in the same calendar Month (if there is one) or the preceding Business Day (if there is not). 3.2.4 If an Interest Period begins on the last Business Day in a calendar Month or a Business Day for which there is no numerically corresponding day in the calendar Month in which that Interest Period is to end, such Interest Period shall end on the last Business Day of such later calendar Month. 3.2.5 If an Interest Period for an Advance would otherwise extend beyond a Repayment Date, it shall be shortened so that it ends on such Repayment Date.
Sample 1
Interest Periods for Advances. The period for which the Facility is outstanding shall be divided into successive periods (each an “Interest Period”) each of which (other than the first which shall begin on the Drawdown Date relating to such Advance) shall start on the last day of the preceding such period and any Interest Period which begins during or at the same time as any other Interest Period in respect of an Advance shall end at the same time as that other Interest Period.
Sample 1
Interest Periods for Advances. 5.2.1 Interest payable on each Advance prior to the Completion Date shall be calculated by reference to successive Interest Periods of 1, 2, 3 or 6 Months duration (or, in each case, such other interest periods as the Agent may allow) subject to the remaining provisions of this Clause 5.2. 5.2.2 The first Interest Period for each Advance shall begin on the Drawdown Date of that Advance. Each succeeding Interest Period for that Advance shall begin on the Interest Date of the previous Interest Period. The Borrower shall specify in the relevant Drawdown Notice the duration of the first Interest Period for the each Advance. In relation to subsequent Interest Periods for each Advance, the Borrower shall notify the Agent in writing 2 Business Days before the end of the then current Interest Period of the duration of the next Interest Period. If the Borrower fails to provide such notice within the required time, the duration for the next Interest Period shall be one Month. 5.2.3 If an Interest Period would otherwise end on a day which is not a Business Day, that Interest Period shall instead end on the next Business Day in the same calendar Month (if there is one) or the preceding Business Day (if there is not). 5.2.4 If an Interest Period begins on the last Business Day in a calendar Month or a Business Day for which there is no numerically corresponding day in the calendar Month in which that Interest Period is to end, such Interest Period shall end on the last Business Day of such later calendar Month. 5.2.5 If an Interest Period for an Advance would otherwise extend beyond a Repayment Date, it shall be shortened so that it ends on such Repayment Date. 5.2.6 If an Interest Period relating to a new Advance begins at the same time as any other Interest Period relating to any Advance, the Interest Period for such new Advance shall end at the same time as the other Interest Period. If two or more Interest Periods for Advances end on the same date, such Advances shall be consolidated into, and be treated as, as a single Advance on the last day of such Interest Period.
Sample 1

Related to Interest Periods for Advances

  • LIBOR Advances The interest rate applicable to each LIBOR Advance shall be determined in accordance with Section 3.6(a) hereunder. Subject to Sections 3.6 and 3.7, such rate shall apply during the entire Interest Period applicable to such LIBOR Advance, and interest calculated thereon shall be payable on the Interest Payment Date applicable to such LIBOR Advance.

  • 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.

  • Fixed Rate Loans Each Mortgage Loan bears interest at a rate that remains fixed throughout the remaining term of such Mortgage Loan, except in the case of an ARD Loan after its Anticipated Repayment Date and except for the imposition of a default rate.

  • 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).

  • Base Rate Advances During such periods as such Advance is a Base Rate Advance, a rate per annum equal at all times to the sum of (x) the Base Rate in effect from time to time plus (y) the Applicable Margin in effect from time to time, payable in arrears quarterly on the last day of each March, June, September and December during such periods and on the date such Base Rate Advance shall be Converted or paid in full.

  • Eurodollar Loans The Loans comprising each Eurodollar Borrowing shall bear interest at the Adjusted LIBO Rate for the Interest Period in effect for such Borrowing plus the Applicable Margin, but in no event to exceed the Highest Lawful Rate.

  • Eurodollar Advances Each Eurodollar Advance shall bear interest during its Interest Period equal to at all times the Eurodollar Rate for such Interest Period plus the Applicable Margin for Eurodollar Advances for such period. The Borrower shall pay to the Administrative Agent for the ratable account of each Lender all accrued but unpaid interest on each of such Lender’s Eurodollar Advances on the last day of the Interest Period therefor (provided that for Eurodollar Advances with Interest Periods of six months or more, accrued but unpaid interest shall also be due on the day three months from the first day of such Interest Period), on the date any Eurodollar Advance is repaid, and on the Maturity Date.

  • Eurodollar Rate Advances During such periods as such Advance is a Eurodollar Rate Advance, a rate per annum equal at all times during each Interest Period for such Advance to the sum of (x) the Eurodollar Rate for such Interest Period for such Advance plus (y) the Applicable Margin in effect from time to time, payable in arrears on the last day of such Interest Period and, if such Interest Period has a duration of more than three months, on each day that occurs during such Interest Period every three months from the first day of such Interest Period and on the date such Eurodollar Rate Advance shall be Converted or paid in full.

  • 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.

  • LIBOR Loans Subject to the provisions hereof and provided that the Borrower has, by giving notice to the Administrative Agent in accordance with Section 5.2, requested the Lenders to continue to extend credit by way of a LIBOR Loan to replace all or a portion of an outstanding LIBOR Loan as it matures, each Lender shall, on the maturity of such LIBOR Loan, continue to extend credit to the Borrower by way of a LIBOR Loan (without a further advance of funds to the Borrower) in the principal amount equal to such Lender’s Pro Rata Share of the principal amount of the matured LIBOR Loan or the portion thereof to be replaced.

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