Common use of Interest Periods; Limitations on Elections Clause in Contracts

Interest Periods; Limitations on Elections. At any time when the Borrower shall select, convert to or renew the Euro-Rate Option to apply to all or any portion of the outstanding Revolving Credit Loans, it shall elect one or more Euro-Rate Interest Periods as the case may be. All the foregoing, however, is subject to the following: (i) any Euro-Rate Interest Period which would otherwise end on a day which is not a Business Day shall be extended to the next Business Day unless such Business Day falls in the succeeding calendar month in which case such Euro-Rate Interest Period shall end on the next preceding Business Day; and (ii) any Euro-Rate Interest Period which begins on the last day of a calendar month or on a day for which there is no numerically corresponding day in the subsequent calendar month during which such Euro-Rate Interest Period is to end shall end on the last Business Day of such subsequent month. Elections by the Borrower of the Euro-Rate Option shall be subject to the following limitations: (i) The Euro-Rate Portion for each Euro-Rate Interest Period shall be in an aggregate principal amount of $5,000,000 or more; provided, however, that each increment in excess of $5,000,000 shall be $1,000,000 or an integral multiple thereof; (ii) No Euro-Rate Interest Period may be elected at any time that a Default or an Event of Default shall have occurred and be continuing; (iii) No Euro-Rate Interest Period may be elected which would end later than the relevant Expiration Date; (iv) No Euro-Rate Interest Period may be elected with regard to amounts outstanding which would be in excess of the Revolving Credit Commitment or the Borrowing Base, whichever is less; and (v) At no time may there be more than four (4) separate EuroRate Interest Periods in effect.

Interest Periods; Limitations on Elections. At any time when the ------------------------------------------ Borrower shall select, convert to or renew the Euro-Rate Option to apply to all or any portion of the outstanding Revolving Credit Loans, it shall elect one or more Euro-Rate Interest Periods as the case may be. All the foregoing, however, is subject to the following: (i) any Euro-Rate Interest Period which would otherwise end on a day which is not a Business Day shall be extended to the next Business Day unless such Business Day falls in the succeeding calendar month in which case such Euro-Rate Interest Period shall end on the next preceding Business Day; and (ii) any Euro-Rate Interest Period which begins on the last day of a calendar month or on a day for which there is no numerically corresponding day in the subsequent calendar month during which such Euro-Rate Interest Period is to end shall end on the last Business Day of such subsequent month. Elections by the Borrower of the Euro-Rate Option shall be subject to the following limitations: (i) The Euro-Rate Portion for each Euro-Rate Interest Period shall be in an aggregate principal amount Equivalent Amount of $5,000,000 1,000,000 or more; provided, -------- however, that each increment in excess of $5,000,000 1,000,000 shall be $1,000,000 or an ------- integral multiple thereof; (ii) No Euro-Rate Interest Period may be elected at any time that a Default or an Event of Default shall have occurred and be continuing; (iii) No Euro-Rate Interest Period may be elected which would end later than the relevant Expiration Date; (iv) No Euro-Rate Interest Period may be elected with regard to amounts outstanding which would be in excess of the Revolving Credit Commitment or the Borrowing Base, whichever is lessCommitment; and (v) At no time may there be more than four seven (47) separate EuroRate Euro-Rate Interest Periods in effect.

Interest Periods; Limitations on Elections. At any time when the Borrower shall select, convert to or renew the Euro-Rate Option to apply to all or any portion of the outstanding Revolving Credit Loans, it shall elect one or more Euro-Rate Interest Periods as the case may be. All the foregoing, however, is subject to the following: (i) any Euro-Rate Interest Period which would otherwise end on a day which is not a Business Day shall be extended to the next Business Day unless such Business Day falls in the succeeding calendar month in which case such Euro-Rate Interest Period shall end on the next preceding Business Day; and (ii) any Euro-Rate Interest Period which begins on the last day of a calendar month or on a day for which there is no numerically corresponding day in the subsequent calendar month during which such Euro-Rate Interest Period is to end shall end on the last Business Day of such subsequent month. Elections by the Borrower of the Euro-Rate Option shall be subject to the following limitations: (i) The Euro-Rate Portion for each Euro-Rate Interest Period shall be in an aggregate principal amount of $5,000,000 or more; provided, however, that each increment in excess of $5,000,000 shall be $1,000,000 or an integral multiple thereof; (ii) No Euro-Rate Interest Period may be elected at any time that a Default or an Event of Default shall have occurred and be continuing; (iii) No Euro-Rate Interest Period may be elected which would end later than the relevant Expiration Date; (iv) No Euro-Rate Interest Period may be elected with regard to amounts outstanding which would be in excess of the Revolving Credit Commitment or the Borrowing Base, whichever is lessCommitment; and (v) At no time may there be more than four seven (47) separate EuroRate Euro- Rate Interest Periods in effect; provided, however, if any Revolving Credit Loans are outstanding bearing interest at the Base Rate Option, there may not be more than six (6) separate Euro-Rate Interest Periods in effect.

Interest Periods; Limitations on Elections. At any time when ------------------------------------------ the Borrower shall select, convert to or renew the Euro-Rate Option to apply to all or any portion of the outstanding Revolving Credit Loans, it shall elect one or more Euro-Rate Interest Periods as the case may be. All the foregoing, however, is subject to the following: (i) any Euro-Rate Interest Period which would otherwise end on a day which is not a Business Day shall be extended to the next Business Day unless such Business Day falls in the succeeding calendar month in which case such Euro-Rate Interest Period shall end on the next preceding Business Day; and (ii) any Euro-Rate Interest Period which begins on the last day of a calendar month or on a day for which there is no numerically corresponding day in the subsequent calendar month during which such Euro-Euro- Rate Interest Period is to end shall end on the last Business Day of such subsequent month. Elections by the Borrower of the Euro-Rate Option shall be subject to the following limitations: (i) The Euro-Rate Portion for each Euro-Rate Interest Period shall be in an aggregate principal amount of $5,000,000 or more; provided, -------- however, that each increment in excess of $5,000,000 shall be $1,000,000 or an integral multiple thereof; (ii) No Euro-Rate Interest Period may be elected at any time that a Default or an Event of Default shall have occurred and be continuing; (iii) No Euro-Rate Interest Period may be elected which would end later than the relevant Expiration Date; (iv) No Euro-Rate Interest Period may be elected with regard to amounts outstanding which would be in excess of the Revolving Credit Commitment or the Borrowing Base, whichever is less; andCommitment; (v) At no time may there be more than four eight (4) 8) separate EuroRate Euro-Rate Interest Periods in effect; and (vi) Until the earlier to occur of (A) completion of syndication as determined by the Agent or (B) ninety days from the Closing Date the Borrower may only elect the one (1) month Euro-Rate Interest Period.

Interest Periods; Limitations on Elections. At any time ------------------------------------------ when the Borrower Borrowers shall select, convert to or renew the Euro-Rate Option to apply to all or any portion of the outstanding Revolving Credit Loans, it they shall elect one or more Euro-Rate Interest Periods as the case may be. All the foregoing, however, is subject to the following: (i) any Euro-Rate Interest Period which would otherwise end on a day which is not a Business Day shall be extended to the next Business Day unless such Business Day falls in the succeeding calendar month in which case such Euro-Rate Interest Period shall end on the next preceding Business Day; and (ii) any Euro-Rate Interest Period which begins on the last day of a calendar month or on a day for which there is no numerically corresponding day in the subsequent calendar month during which such Euro-Rate Interest Period is to end shall end on the last Business Day of such subsequent month. Elections by the Borrower Borrowers of the Euro-Rate Option shall be subject to the following limitations: (i) The Euro-Rate Portion for each Euro-Rate Interest Period shall be in an aggregate principal amount Equivalent Amount of $5,000,000 500,000 or more; provided, however, that each increment in excess of $5,000,000 500,000 shall be $1,000,000 500,000 -------- ------- or an integral multiple thereof; (ii) No Euro-Rate Interest Period may be elected at any time that a Default or an Event of Default shall have occurred and be continuing; (iii) No Euro-Rate Interest Period may be elected which would end later than the relevant Expiration Date; (iv) No Euro-Rate Interest Period may be elected with regard to amounts outstanding which would be in excess of the Revolving Credit Commitment or the Borrowing Base, whichever is lessCommitment; and (v) At no time may there be more than four seven (47) separate EuroRate Euro-Rate Interest Periods in effect.

Interest Periods; Limitations on Elections. At any time when the Borrower shall select, convert to or renew the Euro-Rate Option to apply to all or any portion of the outstanding Revolving Credit Loans, it shall elect one or more Euro-Rate Interest Periods as the case may be. All the foregoing, however, is subject to the following: (i) any Euro-Rate Interest Period which would otherwise end on a day which is not a Business Day shall be extended to the next Business Day unless such Business Day falls in the succeeding calendar month in which case such Euro-Rate Interest Period shall end on the next preceding Business Day; and (ii) any Euro-Rate Interest Period which begins on the last day of a calendar month or on a day for which there is no numerically corresponding day in the subsequent calendar month during which such Euro-Rate Interest Period is to end shall end on the last Business Day of such subsequent month. Elections by the Borrower of the Euro-Rate Option shall be subject to the following limitations: (i) The Euro-Rate Portion for each Euro-Rate Interest Period shall be in an aggregate principal amount of $5,000,000 or more; provided, however, that each increment in excess of $5,000,000 shall be $1,000,000 or an integral multiple thereof; (ii) No Euro-Rate Interest Period may be elected at any time that a Default or an Event of Default shall have occurred and be continuing; (iii) No Euro-Rate Interest Period may be elected which would end later than the relevant Expiration Date; (iv) No Euro-Rate Interest Period may be elected with regard to amounts outstanding which would be in excess of the Revolving Credit Commitment or the Borrowing Base, whichever is less; and (v) At no time may there be more than four (4) separate EuroRate Interest Periods in effect.