Interest Periods for Term. Out Advances The life of each Term-out Advance is divided into successive periods (each an "Interest Period") for the calculation of interest. The first Interest Period will be the period selected in the Request for that Term-out Advance and each subsequent Interest Period will be the period selected by the relevant Borrower by notice to the Agent received not later than 3.00 p.m. on the third Business Day before the end of the then current Interest Period or, in the case of a Term-out Advance in Sterling, not later than 3.00 p.m. on the day before the last day of the then current Interest Period (being one month, two, three or six months or in any case such other period as the Agent and all the Banks may agree from time to time which does not overrun the third Anniversary). If no such selection notice is received within the time limit mentioned above, the new Interest Period will be three months or such shorter period as is required to ensure that it does not overrun the third Anniversary.
Interest Periods for Term. CXXXX Loans shall have a duration of one (1) month or three (3) months or a Non-Standard Interest Period as the Agent may agree to (in each case, subject to availability), provided that in the event the Borrower fails to specify an Interest Period for any Term CXXXX Loan in the applicable Drawdown Notice, Conversion Notice or Rollover Notice, the Borrower shall be deemed to have selected an Interest Period of one month;
Interest Periods for Term. Benchmark Advance shall have a duration of one month, three months or six months, subject to availability, provided that in the event the Borrower fails to specify an Interest Period for any Term Benchmark Advance in the notice pursuant to Schedule 6.5(a), the Borrower shall be deemed to have selected an Interest Period of one month;
Interest Periods for Term. Advances The period for which a Term Advance is outstanding shall be divided into successive periods each of which (other than the first, which shall begin on the day such Term Advance is made) shall start on the last day of the preceding such period.
