INTEREST PERIODS FOR TERM ADVANCES Sample Clauses

INTEREST PERIODS FOR TERM ADVANCES. (a) During the Term-Out Period the Borrower may designate that each Lender's Term Advance (or portions thereof) be maintained as a LIBOR Advance or a Base Rate Advance, provided that (i) no portion of the Term Advance of a Lender shall be maintained as a LIBOR Advance if the amount thereof is less than $10,000,000, (ii) there shall be no more than six LIBOR Advances outstanding at any time and (iii) there shall be no more than one LIBOR Advance with a seven day Interest Period outstanding at any time. If the Borrower requests that the Term Advance (or any portion thereof) of a Lender be maintained as a LIBOR Advance, the Borrower shall select the Interest Periods therefor. Such selection will be made by the Borrower in the Request given by it upon exercise of the Term-Out Option and during the Term-Out Period, by a notice received by the Administrative Agent not later than 9:00 a.m. three Business Days before the commencement of each Interest Period. (b) During the Term-Out Period, each Interest Period for the Term Advance (or any portion thereof) of each Lender will commence on the Term-Out Date or the expiry of the immediately preceding applicable Interest Period. (c) Each Interest Period will be of either seven days or one, two, three or six months as so selected under paragraph (a) above subject as provided below, provided that (i) a monthly Interest Period which commences on the last Business Day of a month shall end on the last Business Day of the corresponding month, (ii) if any monthly Interest Period begins on a day for which there is no numerically corresponding day in the last calendar month of such Interest Period, such Interest Period shall end on the last Business Day of such last calendar month, (iii) if any Interest Period would otherwise expire on a day which is not a Business Day, such Interest Period shall expire on the next succeeding Business Day, provided that if any Interest Period would otherwise expire on a day which 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 and (iv) no Interest Period shall extend beyond the Final Payment Date. (d) The Borrower shall have the option, upon delivery of irrevocable written notice of not less than three Business Days before the last day of an Interest Period of any LIBOR Advance in respect of a Lender's Term Advance (or any portion thereof), (i) to convert such LIBOR Adv...
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INTEREST PERIODS FOR TERM ADVANCES. 41 5. Payment and Calculation of Interest on Term Advances.........................................42
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INTEREST PERIODS FOR TERM ADVANCES. 7.1 INTEREST PERIODS The period for which a Term Advance is outstanding shall be divided into successive periods (each an "INTEREST PERIOD") each of which (other than the first, which shall begin on the day the Term Advance is made) shall start on the last day of the preceding Interest Period. 7.2 DURATION The duration of each Interest Period shall, save as otherwise provided herein, be one, two, three or six months or such other period as the Agent (acting on the instructions of all Term Banks) may agree, in each case as the Post-Novation Borrower may by not less than five Business Days' prior notice (or such shorter notice period as all the Term Banks may agree) to the Agent select, PROVIDED THAT: 7.2.1 if the Post-Novation 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 7.2.2 of this Clause 7.2, be one month; 7.2.2 in respect of a Term Advance which, after taking into account other Term Advances with Interest Periods ending on or before a given Term Repayment Date, needs to be applied in whole or in part in a repayment of the Term Loan on such Term Repayment Date in accordance with Clause 12.1 (Term Repayment Instalments), an Interest Period which would otherwise end during the month preceding, or extend beyond, that Term Repayment Date shall be of such duration that it shall end on that Term Repayment Date.
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INTEREST PERIODS FOR TERM ADVANCES. 27 5. PAYMENT AND CALCULATION OF INTEREST ON TERM ADVANCES ........... 28 6.
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INTEREST PERIODS FOR TERM ADVANCES. 36 7.6 Notification............................................................................................ 37
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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) shall start on the last day of the preceding such period.
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INTEREST PERIODS FOR TERM ADVANCES. 27 6. PAYMENT AND CALCULATION OF INTEREST ON TERM ADVANCES.............. 29 7. UTILISATION OF THE REVOLVING FACILITY............................. 29 8. PAYMENT AND CALCULATION OF INTEREST ON REVOLVING ADVANCES......... 35 9. LETTER OF CREDIT COMMISSION AND L/C FRONTING BANK FEE............. 36 10.
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INTEREST PERIODS FOR TERM ADVANCES. 23 1. Payment And Calculation Of Interest On Term Advances........................................... 24 1. Utilisation Of The Revolving Facility.......................................................... 25 1. Payment And Calculation Of Interest On Revolving Advances......................................
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INTEREST PERIODS FOR TERM ADVANCES 
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Related to INTEREST PERIODS FOR TERM ADVANCES

  • 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).

  • Method of Selecting Types and Interest Periods for New Advances The Borrower shall select the Type of Advance and, in the case of each Eurodollar Advance, the Interest Period applicable thereto from time to time. The Borrower shall give the Administrative Agent irrevocable notice (a "Borrowing Notice") not later than 11:00 a.m. (Chicago time) on the Borrowing Date of each Floating Rate Advance and not later than 11:00 a.m. (Chicago time) three Business Days before the Borrowing Date for each Eurodollar Advance, specifying: (i) the Borrowing Date, which shall be a Business Day, of such Advance, (ii) the aggregate amount of such Advance, (iii) the Type of Advance selected, and (iv) in the case of each Eurodollar Advance, the Interest Period applicable thereto. Not later than noon (Chicago time) on each Borrowing Date, each Lender shall make available its Loan or Loans in funds immediately available in Chicago to the Administrative Agent at its address specified pursuant to Article XIII. The Administrative Agent will make the funds so received from the Lenders available to the Borrower at the Administrative Agent's aforesaid address.

  • Borrowing Mechanics for Term Loans (i) Lead Borrower shall deliver to Administrative Agent a fully executed Funding Notice no later than (A) if such Funding Notice requests a LIBOR Rate Loan, three (3) Business Days prior to the Closing Date or (B) if such Funding Notice requests a Base Rate Loan, two (2) Business Days prior to the Closing Date, or, in each case, such later date as Administrative Agent may agree. Except as otherwise provided herein, a Funding Notice for a Term Loan that is a LIBOR Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower shall be bound to make a borrowing in accordance therewith. Promptly upon receipt by Administrative Agent of such Funding Notice, Administrative Agent shall notify each Lender of the proposed borrowing. Administrative Agent and Lenders (A) may act without liability upon the basis of written, facsimile, or telephonic notice believed by Administrative Agent in good faith to be from Lead Borrower (or from any Authorized Officer thereof designated in writing purportedly from Lead Borrower to Administrative Agent), (B) shall be entitled to rely conclusively on any Authorized Officer’s authority to request a Term Loan on behalf of Lead Borrower until Administrative Agent receives written notice to the contrary, and (C) shall have no duty to verify the authenticity of the signature appearing on any written Funding Notice. (ii) Each Lender shall make its Term Loan available to Administrative Agent not later than noon (New York time) on the Closing Date, by wire transfer of same day funds in Dollars, at Administrative Agent’s Principal Office (as identified on Appendix B). Upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds of the Term Loans available to Lead Borrower by the close of business on the Closing Date by causing an amount of same day funds in Dollars equal to the proceeds of all such Loans received by Administrative Agent from Lenders to be credited (A) in the case of Loans made on the Closing Date, in accordance with the provisions of the Flow of Funds Agreement or (B) after the Closing Date, to the account of Lead Borrower at Administrative Agent’s Principal Office or to such other account as may be designated in writing to Administrative Agent by Lead Borrower.

  • 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.

  • Additional Interest on Eurodollar Rate Advances The Borrower shall pay to each Lender, so long as such Lender shall be required under regulations of the Board of Governors of the Federal Reserve System to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency Liabilities, additional interest on the unpaid principal amount of each Eurodollar Rate Advance of such Lender, from the date of such Advance until such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the Eurodollar Rate for the Interest Period for such Advance from (ii) the rate obtained by dividing such Eurodollar Rate by a percentage equal to 100% minus the Eurodollar Rate Reserve Percentage of such Lender for such Interest Period, payable on each date on which interest is payable on such Advance. Such additional interest shall be determined by such Lender and notified to the Borrower through the Administrative Agent, and such determination shall be conclusive and binding for all purposes, absent manifest error.

  • 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.

  • Changes to Interest Periods (a) Prior to determining the interest rate for a Facility A Loan, the Agent may shorten an Interest Period for any Facility A Loan to ensure there are sufficient Facility A Loans with an Interest Period ending on a Facility A Repayment Date for the Borrowers to make the Repayment Instalment due on that Facility A Repayment Date. (b) If the Agent makes any of the changes to an Interest Period referred to in this Clause 13.2, it shall promptly notify the Company and the Lenders.

  • Availability of Types of Advances If any Lender determines that maintenance of its Eurodollar Loans at a suitable Lending Installation would violate any applicable law, rule, regulation, or directive, whether or not having the force of law, or if the Required Lenders determine that (i) deposits of a type and maturity appropriate to match fund Eurodollar Advances are not available or (ii) the interest rate applicable to Eurodollar Advances does not accurately reflect the cost of making or maintaining Eurodollar Advances, then the Agent shall suspend the availability of Eurodollar Advances and require any affected Eurodollar Advances to be repaid or converted to Floating Rate Advances, subject to the payment of any funding indemnification amounts required by Section 3.4.

  • 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.

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