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.
Appears in 18 contracts
Samples: Credit Agreement (Cooper River Properties LLC), Credit Agreement (Cooper River Properties LLC), Credit Agreement (Cooper River Properties LLC)
Interest Periods. In connection with each LIBOR At any time when the Borrower shall select, ---------------- convert to or renew a Euro-Rate LoanOption, the Borrower, Borrower shall notify the Administrative Agent thereof at least three (3) Business Days prior to the effective date of such Euro-Rate Option by giving delivering a Loan Request. The notice at the times described in Section 3.1(a), shall elect specify an interest period (each, an the "Interest Period") during which such Interest Rate Option shall apply, such periods to be applicable to such Loanone, which Interest Period shall be a period of one (1), two (2)two, three (3) or six (6) months with respect months, provided, that the following shall apply to each LIBOR Rate Loan; provided that:
(i) the Interest Period shall commence on the date of advance any selection of, renewal of or conversion to any LIBOR a Euro-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;Option:
(iia) if any Interest Period which would otherwise expire end 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 date which is not a Business Day but is a day of shall be extended to the month after which no further next succeeding Business Day occurs unless such Business Day falls in such the next calendar month, in which case such Interest Period shall expire end on the next preceding Business Day;
(iiib) any Interest Period with respect to a LIBOR Rate Loan that which begins on the last Business Day day of a calendar month (or on a day for which there is no numerically corresponding day in the subsequent calendar month at the end of during which such Interest Period) Period is to end shall end on the last Business Day of the relevant calendar month at the end of such Interest Periodsubsequent month;
(ivc) no each Borrowing Tranche of Loans subject to a Euro-Rate Option shall be in integral multiples of $500,000 and not less than $5,000,000;
(d) the Borrower shall not select, convert to or renew an Interest Period shall be permitted to extend beyond for any portion of the Termination Loans that would end after the Expiration Date; and
(ve) there in the case of the renewal of a Euro-Rate Option at the end of an Interest Period, the first day of the new Interest Period shall be no more than five (5) the last day of the preceding Interest Periods outstanding at any timePeriod, without duplication in payment of interest for such day.
Appears in 6 contracts
Samples: Revolving Credit Facility (Mariner Post Acute Network Inc), Revolving Credit Facility (Mariner Post Acute Network Inc), Term Loan Facility (Mariner Post Acute Network Inc)
Interest Periods. In connection with each LIBOR Rate Loan, the BorrowerCompany, by giving notice at the times described in Section 3.1(a)2.4 or 4.2, as applicable, 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 months, or, if agreed to each LIBOR Rate Loanby all Lenders, a period of less than thirty (30) days, or a period of nine (9) or twelve (12) months; 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 immediately 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 immediately 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
(viv) there shall be no more than five ten (510) Interest Periods outstanding in effect at any time.
Appears in 6 contracts
Samples: Five Year Revolving Credit Agreement (BlackRock Inc.), Five Year Revolving Credit Agreement (BlackRock Inc.), Five Year Revolving Credit Agreement (BlackRock Inc.)
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 An interest period (each, each an "“Interest Period"”) to be applicable to such Loan, which Interest Period for a Borrowing of LIBOR Loans shall be a period of one (1)one, two (2)two, three (3) or six (6) months with respect to each LIBOR Rate Loanmonth period, as selected by the Borrower in the applicable Notice of Borrowing or Conversion/Continuation Notice; provided that:
(i) the each successive Interest Period for a Borrowing 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 day on which the next immediately preceding Interest Period expires;
(ii) if any an 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; providedprovided that, 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 immediately 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 a calendar month at the end of such Interest Periodmonth;
(iv) no Interest Period shall be permitted to extend beyond the Termination scheduled Maturity Date; and;
(v) there shall be no more than five (5) Interest Periods outstanding at any time; and
(vi) in the event the Borrower fails to specify an Interest Period for any such Borrowing in the applicable Notice of Borrowing or Conversion/Continuation Notice, the Borrower shall be deemed to have selected an Interest Period of one month.
Appears in 5 contracts
Samples: Term Loan Agreement (Assurant Inc), Credit Agreement (Assurant Inc), Credit Agreement (Assurant Inc)
Interest Periods. In connection with each LIBOR Rate Loan and each BA Loan, the Borrower, by giving notice at the times described in Section 3.1(a)2.3 or 4.2, as applicable, shall elect an interest period (each, an "“Interest Period"”) to be applicable to such Revolving Credit 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 Loanmonths; provided that:
(i) the Interest Period shall commence on the date of advance of or conversion to any LIBOR Rate Loan or any BA Loan and, in the case of immediately successive Interest Periods, each successive Interest Period shall commence on the date on which the next immediately 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 or a BA 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 immediately preceding Business Day;
(iii) any Interest Period with respect to a LIBOR Rate Loan or a BA 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 Maturity Date; and
(v) there shall be no more than five (5A) four (4) Interest Periods outstanding in effect at any timetime with respect to LIBOR Rate Loans and (B) ten (10) Interest Periods in effect at any time with respect to BA Loans.
Appears in 5 contracts
Samples: Credit Agreement (Bowater Inc), Credit Agreement (Bowater Inc), Credit Agreement (Bowater Inc)
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a5.1(a), shall elect an interest period (each, an "Interest Period") to be applicable to such Revolving Credit Loan, which Interest Period shall shall, unless otherwise agreed by the Administrative Agent and the Lenders, be a period of one (1), two (2), three (3) ), or six (6) months with respect to each LIBOR Rate LoanRate; 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 Revolving Credit Termination Date; and
(v) there shall be no more than five six (56) Interest Periods outstanding in effect at any time.
Appears in 5 contracts
Samples: 364 Day Credit Agreement (Jones Apparel Group Inc), 364 Day Credit Agreement (Jones Apparel Group Inc), 364 Day Credit Agreement (Jones Apparel Group Inc)
Interest Periods. In (i) Solely with respect to Term Loans and Bridge Loans and in connection with each LIBOR LIBO Rate Loan, Borrower shall, pursuant to the Borrower, by giving notice at the times described in Section 3.1(a), shall elect Notice of Borrowing or a Confirmation of Interest Period Selection select an interest period (each, an "Interest Period") Period to be applicable to such LoanLIBO Rate Loans, which Interest Periods shall be a six (6) month period ending in each case on a Payment Date or, solely with respect to the initial LIBO Rate Loans, any shorter Interest Period ending on the first Payment Date, as requested by Borrower and approved by Administrative Agent (any such period, an “Interest Period”); provided, however, that (1) with the exception of any shorter Interest Period ending on the first Payment Date, the selection of any Interest Period other than the six (6) month Interest Period shall be a period subject to availability of one (1), two such Interest Period from each Lender; (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 which would otherwise expire end 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 which is not a Business Day but is a day of shall be extended to the month after which no further next succeeding Business Day occurs unless that day falls in such the next calendar month, in which case such Interest Period shall expire end on the next immediately preceding Business Day;
; (iii3) any Interest Period with respect to a LIBOR Rate Loan that which 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 a calendar month at the end of such Interest Period;
month; and (iv4) no Interest Period shall be permitted to extend beyond the Termination Term Loan Maturity Date or Bridge Loan Maturity Date, as applicable. If Borrower fails to notify Administrative Agent of the next Interest Period for any LIBO Rate Loan in accordance with this Section 2.1(c)(i), such Term Loan or Bridge Loan, as applicable, shall automatically continue as a new LIBO Rate Loan with the same Interest Period as such prior LIBO Rate Loan; and
(v) there provided, however, that in the event that the Interest Period of such new LIBO Rate Loan would extend beyond the applicable Maturity Date, then such Loan shall be no more than five (5) Interest Periods outstanding at any timeautomatically convert to a Base Rate Loan.
Appears in 4 contracts
Samples: Financing Agreement (First Wind Holdings Inc.), Financing Agreement (First Wind Holdings Inc.), Financing Agreement (First Wind Holdings Inc.)
Interest Periods. In connection with the making or continuation of, or conversion into, each Borrowing of LIBOR Rate LoanLoans, the Borrower, by giving notice at the times described in Section 3.1(a), Borrowers shall elect select an interest period (each, each an "“Interest Period"”) to be applicable to such LIBOR Loan, which Interest Period interest period shall be commence on the date such LIBOR Loan is made and shall end on a period of one (1)numerically corresponding day in the first, two (2)third or sixth month thereafter; provided, three (3) or six (6) months with respect to each LIBOR Rate Loan; provided however, that:
(i) the initial Interest Period for a LIBOR Loan shall commence on the date of advance such Borrowing (including the date of or any conversion to any LIBOR Rate from a Loan or and, in the case of immediately successive Interest Periods, another Type) and each successive Interest Period occurring thereafter in respect of such Revolver Loan 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 provided that, if any Interest Period with in respect to a of LIBOR Rate Loan Loans would otherwise expire on a day that 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;
(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) Period shall end expire on the last Business Day of the relevant such calendar month at the end of such Interest Period;month; and
(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 timelast day of the Original Term.
Appears in 4 contracts
Samples: Loan and Security Agreement (Standard Register Co), Loan and Security Agreement (Integrated Electrical Services Inc), Loan and Security Agreement (Standard Register Co)
Interest Periods. In connection with each the making, conversion or continuation of any LIBOR Rate LoanLoans, the Borrower, by giving notice at the times described in Section 3.1(a), Borrowers shall elect select an interest period (each, an "“Interest Period"”) to be applicable to such Loanapply, which Interest Period interest period shall be a period of one (1)one, two (2)or three months; provided, three (3) or six (6) months with respect to each LIBOR Rate Loan; provided however, that:
(ia) the Interest Period shall commence on the date of advance of the Loan is made or conversion to continued as, or converted into, a LIBOR Loan, and shall expire one, two or three months thereafter, as applicable;
(b) if any LIBOR Rate Loan or and, Interest Period begins on a day for which there is no corresponding day in the case calendar month at its end or if such corresponding day falls after the last Business Day of immediately successive Interest Periodssuch month, each successive then the Interest Period shall commence expire on the date on which the next preceding Interest Period expires;
(ii) last Business Day of such month; and if any Interest Period would otherwise expire on a day that is not a Business Day, such then, for purposes of the timing of payment of interest only (and not for purposes of determining any subsequent Interest Period Period), the period shall expire on the next succeeding Business Day; provided, provided that if any Interest Period such extension of time shall in such case not be included in the computation of payment of interest with respect to a LIBOR Rate Loan would otherwise expire on a day that is not a Business Day but is a day the exception of the month after which no further Business Day occurs final payment of interest at maturity or in such month, such Interest Period shall expire on the next preceding Business Day;connection with a voluntary or involuntary prepayment of principal prior to maturity; and
(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;
(ivc) no Interest Period shall be permitted to extend beyond the Revolver Termination Date; and
(v) there shall and no Interest Period for a LIBOR Term Loan may be no more than five (5) established that would require repayment before the end of an Interest Periods outstanding at Period in order to make any timescheduled principal payment on Term Loans.
Appears in 4 contracts
Samples: Loan and Security Agreement (P&f Industries Inc), Loan and Security Agreement (P&f Industries Inc), Loan and Security Agreement (P&f Industries Inc)
Interest Periods. In connection with each the making, conversion or continuation of any LIBOR Rate LoanLoans, the Borrower, by giving notice at the times described in Section 3.1(a), Borrowers shall elect select an interest period (each, an "“Interest Period"”) to be applicable to such Loanapply, which Interest Period interest period shall be the period commencing on the date such LIBOR Loan is disbursed or converted to or continued as a period of one (1)LIBOR Loan and ending on the date one, two (2)two, three (3) or six (6) months with respect to each LIBOR Rate Loanthereafter, as selected by the Borrowers in the Notice of Borrowing; provided that:
(ia) 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 that 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 end on a day that is not a Business Day but is a day of shall be extended to the month after which no further next succeeding Business Day occurs unless such Business Day falls in such another calendar month, in which case such Interest Period shall expire end on the next preceding Business Day;
(iiib) 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;; and
(ivc) no Interest Period shall be permitted to extend beyond the Revolver Termination Date; and
(v) there shall be no more than five (5) Interest Periods outstanding at any time.
Appears in 4 contracts
Samples: Credit Agreement, Credit Agreement (Calumet Specialty Products Partners, L.P.), Credit Agreement (Calumet Specialty Products Partners, L.P.)
Interest Periods. In connection with each the making, conversion or continuation of any LIBOR Rate LoanLoans, the Borrower, by giving notice at the times described in Section 3.1(a), Borrowers shall elect select an interest period (each, an "“Interest Period"”) to be applicable to such Loanapply, which Interest Period interest period shall be a period of one (1)30, two (2)60, three (3) 90 or six (6) months with respect to each LIBOR Rate Loan180 days; provided provided, however, that:
(ia) the Interest Period shall commence begin on the date of advance of the Loan is made or conversion to any continued as, or converted into, a LIBOR Rate Loan or andLoan, and shall expire on the numerically corresponding day in the case calendar month at its end;
(b) if any Interest Period begins on a day for which there is no corresponding day in the calendar month at its end or if such corresponding day falls after the last Business Day of immediately successive Interest Periodssuch month, each successive then the Interest Period shall commence expire on the date on which the next preceding Interest Period expires;
(ii) last Business Day of such month; and if any Interest Period would otherwise expire on a day that is not a Business Day, such Interest Period the 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;
(ivc) no Interest Period shall be permitted to extend beyond the Revolver Termination Date; and no Interest Period for a LIBOR Term Loan may be established that would require repayment before the end of an Interest Period in order to make any scheduled principal payment on Term Loans; and
(vd) there with respect to LIBOR Loans, (i) Agent shall determine LIBOR at the beginning of any Interest Period and such LIBOR rate shall be no more than five fixed for such Interest Period, (5ii) interest shall be paid at the end of an Interest Period, or in the case of Interest Periods outstanding greater than 90 days, interest shall be paid at any timethe end of each 90 day period.
Appears in 4 contracts
Samples: First Lien Loan and Security Agreement (Duckhorn Portfolio, Inc.), First Lien Loan and Security Agreement (Duckhorn Portfolio, Inc.), First Lien Loan and Security Agreement (Duckhorn Portfolio, Inc.)
Interest Periods. In connection with each LIBOR Eurodollar 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 LoanConstruction Loan Advance, which Interest Period shall be a period of one (1), two (2), three (3) ), or six (6) months with respect to each LIBOR Eurodollar Rate Loan; provided that:
(i) the Interest Period shall commence on the date of advance of or conversion to any LIBOR Eurodollar 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 Eurodollar 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 Eurodollar 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 Maturity Date, and Interest Periods shall be selected by the Borrower so as to permit the Borrower to make the monthly principal installment payments pursuant to Section 2.3 without payment of any amounts pursuant to Section 3.9; and
(v) there shall be no more than five (5) Interest Periods outstanding in effect at any time.
Appears in 4 contracts
Samples: Loan Agreement (Medcath Corp), Loan Agreement (Medcath Corp), Loan Agreement (Medcath Corp)
Interest Periods. In connection with 6.2.1 Interest payable on 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 Loan shall be a period calculated by reference to Interest Periods of one (1), two (2), three (3) or six (6) months with respect to each LIBOR Rate Loan; provided that:
duration (i) the or such other Interest Period shall commence as the Facility Agent, acting on the date instructions of advance all the Lenders, may agree) as selected by the Borrowers in accordance with this Clause 6.2. The Borrowers may not select more than ten (10) Interest Periods with a tenor of one (1) Month during any calendar year. If an Interest Period would extend beyond six (6) months then interest shall be payable every six (6) months. The Facility Agent may require shorter Interest Periods to be elected if this would facilitate the syndication of the Facility.
6.2.2 The Borrowers shall select an Interest Period for a Loan in the relevant Drawdown Notice or conversion to any LIBOR Rate Loan or and, (in the case of immediately successive Interest Periods, each successive any subsequent Interest Period shall commence on for that Loan) by notice received by the date on which Facility Agent no later than three (3) Business Days before the next preceding commencement of that Interest Period.
6.2.3 If the Borrowers fail to select an Interest Period expires;for a Loan in accordance with Clause 6.2.2, that Interest Period shall, subject to the other provisions of this Clause 6, be three (3) months.
(ii) if any 6.2.4 If an Interest Period would otherwise expire end on a day that which is not a Business Day, such that Interest Period shall expire instead end on the next succeeding Business Day; provided, that Day in the same calendar month (if any there is one) or the preceding Business Day (if there is not).
6.2.5 If an 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 in a calendar month (or on a day Business Day for which there is no numerically corresponding day in the calendar month at the end of such in which that Interest Period) Period is to end, it shall end on the last Business Day of the relevant in that later calendar month at the end of such Interest Period;month.
(iv) no 6.2.6 If an Interest Period shall be permitted to for a Loan would otherwise extend beyond the Termination Date; and
(v) there Final Repayment Date under which such Loan is made, it shall be no more than five (5) Interest Periods outstanding at any timeshortened so that it ends on the Final Repayment Date.
Appears in 4 contracts
Samples: Multicurrency Revolving Credit Facility Agreement (Pra Group Inc), Multicurrency Revolving Credit Facility Agreement (Pra Group Inc), Multicurrency Revolving Credit Agreement (Pra Group Inc)
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a2.03(a)(i)(B), shall elect an interest period (each, an "“Interest Period"”) to be applicable to such LIBOR Rate Loan, which Interest Period shall be a period of fourteen (14) days, one (1)) month, two (2)) months, three (3) months, or six (6) months with respect to each LIBOR Rate Loanmonths; provided 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 the Borrower may not select any Interest Period that ends after the Termination Date;
(iii) Interest Periods commencing on the same date for LIBOR Rate Loans comprising part of the same Loan shall be of the same duration;
(iv) whenever the last day of any Interest Period would otherwise expire occur on a day that is not other than a Business Day, the last day of such Interest Period shall expire be extended to occur on the next succeeding Business Day; provided, that if any such extension would cause the last day of such Interest Period with respect to a LIBOR Rate Loan would otherwise expire on a day that is not a Business Day but is a occur in the next following calendar month, the last day of the month after which no further Business Day occurs in such month, such Interest Period shall expire occur on the next preceding Business Day;
(iiiv) with respect to LIBOR Rate Loans, if 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) , such Interest Period shall end on the last Business Day of the relevant such calendar month at the end of such Interest Period;
(iv) no Interest Period shall be permitted to extend beyond the Termination Datemonth; and
(vvi) there shall be no more than five eight (5) 8) Interest Periods outstanding may be in effect at any time.
Appears in 4 contracts
Samples: Credit Agreement (South Jersey Industries Inc), Revolving Credit Agreement (South Jersey Gas Co/New), Credit Agreement (South Jersey Industries Inc)
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a)2.3 or 5.2, as applicable, 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), ) or three (3) or six (6) months with respect to each LIBOR Rate Loanmonths; 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 immediately 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 immediately 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 Maturity Date; and
(v) there shall be no more than five six (56) Interest Periods outstanding in effect at any time.
Appears in 4 contracts
Samples: Credit Agreement (Cirrus Logic Inc), Credit Agreement (Cirrus Logic Inc), Credit Agreement (Cirrus Logic Inc)
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a5.1(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 (or nine (9) or twelve (12) months or any other period if available from all Lenders) with respect to each LIBOR Rate LoanRate; 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 Revolving Credit Termination Date; and
(v) there shall be no more than five six (56) Interest Periods outstanding for Revolving Credit Loans in effect at any time.
Appears in 4 contracts
Samples: Five Year Credit Agreement (Jones Apparel Group Inc), Five Year Credit Agreement (Jones Apparel Group Inc), Five Year Credit Agreement (Jones Apparel Group Inc)
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a)2.3 or 5.2, as applicable, 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)) week, one (1) month, two (2)) months, three (3) months or six (6) months with respect to each LIBOR Rate Loanmonths; 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 immediately 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; providedprovided that, 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 immediately 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 Revolving Credit Maturity Date or the Term Loan Maturity Date, as applicable; and
(v) there shall be no more than five ten (510) outstanding Interest Periods outstanding in effect at any time.
Appears in 3 contracts
Samples: Credit Agreement (Fossil Group, Inc.), Credit Agreement (Fossil Group, Inc.), Credit Agreement (Fossil Group, Inc.)
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a)2.3 or 4.2, as applicable, 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 Loanmonths; 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 immediately 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 immediately 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 Term Loan Maturity Date; and
(v) there shall be no more than five three (53) Interest Periods outstanding in effect at any time.
Appears in 3 contracts
Samples: Term Loan Agreement (DCP Midstream Partners, LP), Term Loan Agreement (DCP Midstream Partners, LP), Term Loan Agreement (DCP Midstream Partners, LP)
Interest Periods. In connection with each LIBOR Rate Loan, the BorrowerBorrowers, by giving notice at the times described in Section 3.1(a)4.1(a) hereof, shall elect an interest period (each, an "“Interest Period"”) to be applicable to such Loan or Alternate Currency Loan, which Interest Period shall be a period of one (1), two (2), ) or three (3) or six (6) months with respect to each LIBOR Rate Loan or Eurocurrency Loan; provided that:
(i) the Interest Period shall commence on the date of advance of or conversion to any LIBOR Rate Loan or Eurocurrency Loan 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 or Eurocurrency 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 or Eurocurrency 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 six (56) Interest Periods outstanding at any time.
Appears in 3 contracts
Samples: Credit Agreement (Urban Outfitters Inc), Credit Agreement (Urban Outfitters Inc), Credit Agreement (Urban Outfitters Inc)
Interest Periods. In connection with each LIBOR Rate Loan, Cornerstone, on behalf of the BorrowerBorrowers, by giving notice at the times described in Section 3.1(a4.1(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.
Appears in 3 contracts
Samples: Credit Agreement (Cornerstone Realty Income Trust Inc), Credit Agreement (Cornerstone Realty Income Trust Inc), Credit Agreement (Cornerstone Realty Income Trust Inc)
Interest Periods. In connection with each LIBOR Rate Loan, the Original Borrower, by giving notice at the times described in Section 3.1(a)2.3 or 4.2, as applicable, shall elect an interest period (each, an "“Interest Period"”) to be applicable to such Revolving Credit 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 Loanmonths; 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 immediately 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 immediately 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 Maturity Date; and
(v) there shall be no more than five eight (5) 8) Interest Periods outstanding in effect at any time.
Appears in 3 contracts
Samples: Credit Agreement (Bowater Inc), Credit Agreement (Bowater Inc), Credit Agreement (AbitibiBowater Inc.)
Interest Periods. In connection with each 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 Loan may be applicable to such Loan, which Interest Period shall be obtained for a period of one (1), two (2), three (3) or six (6) months with month period (each such period being an “Interest Period”). With respect to each all LIBOR Rate Loan; provided thatLoans:
(i) the Interest Period shall will commence on the date of advance of or conversion to that any LIBOR Loan is made or the date on which any portion of the Base Rate Loan or andis converted into a LIBOR Loan, or, in the case of immediately successive Interest Periods, each successive Interest Period shall commence on the date day on which the next immediately preceding Interest Period expires;
(ii) if the Interest Period would otherwise expire on a day that is not a Business Day, then it will expire on the next Business Day; provided, that if any Interest Period would otherwise expire on a day that is not a Business Day, Day and 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 a calendar month after which no further Business Day occurs in such month, such Interest Period shall expire on the Business Day next preceding Business Daysuch 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 last calendar month at the end of in such Interest Period) Period shall end on the last Business Day of the relevant last calendar month at the end of in such Interest Period;; and
(iv) no Interest Period shall be permitted selected for any LIBOR Loan if, in order to extend beyond make repayments required pursuant to Subsection 1.6(D) in connection with scheduled reductions of the Termination Date; and
(vRevolving Loan Commitment pursuant to Subsection 1.6(A)(3), or in order to make scheduled repayments of the Term Loans required pursuant to Subsections 1.6(A)(1) there shall and 1.6(A)(2), repayment of all or any portion of such Loan prior to the expiration of such Interest Period would be no more than five (5) Interest Periods outstanding at any timenecessary.
Appears in 3 contracts
Samples: Credit Agreement, Credit Agreement, Credit Agreement
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a)2.3 or 5.2, as applicable, 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 Loanmonths; 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 immediately 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 immediately 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 Scheduled Maturity Date; and
(v) there shall be no more than five nine (59) Interest Periods outstanding in effect at any time.
Appears in 3 contracts
Samples: Credit Agreement (Orbital Sciences Corp /De/), Credit Agreement (Orbital Sciences Corp /De/), Credit Agreement (Orbital Sciences Corp /De/)
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a5.1(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 immediately 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 immediately 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 Revolving Credit Maturity Date; and
(v) there shall be no more than five six (56) Interest Periods outstanding in effect at any time.
Appears in 3 contracts
Samples: Credit Agreement (O Charleys Inc), Credit Agreement (O Charleys Inc), Credit Agreement (O Charleys Inc)
Interest Periods. In connection with the making or continuation of, or conversion into, each Borrowing of LIBOR Rate LoanLoans, the Borrower, by giving notice at the times described in Section 3.1(a), Borrowers shall elect select an interest period (each, each an "“Interest Period"”) to be applicable to such LIBOR Loan, which Interest Period interest period shall be commence on the date such LIBOR Loan is made and shall end on a period of one (1)numerically corresponding day in the first, two (2)second, three (3) third or six (6) months with respect to each LIBOR Rate Loansixth month thereafter; provided provided, however, that:
(i) the initial Interest Period for a LIBOR Loan shall commence on the date of advance such Borrowing (including the date of or any conversion to any LIBOR Rate from a Loan or and, in the case of immediately successive Interest Periods, another Type) and each successive Interest Period occurring thereafter in respect of such Revolver Loan 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 provided that, if any Interest Period with in respect to a of LIBOR Rate Loan Loans 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 immediately 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) Period shall end expire on the last Business Day of the relevant such calendar month at the end of such Interest Period;month; and
(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 timelast day of the Term.
Appears in 3 contracts
Samples: Loan and Security Agreement (Enpro Industries, Inc), Loan and Security Agreement (Enpro Industries, Inc), Loan and Security Agreement (Insight Health Services Holdings Corp)
Interest Periods. In connection with each LIBOR Rate Loan and each BA Loan, the Borrower, by giving notice at the times described in Section 3.1(a)2.3 or 4.2, as applicable, shall elect an interest period (each, an "Interest Period") to be applicable to such Revolving Credit 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 Loanmonths; provided that:
(i) the Interest Period shall commence on the date of advance of or conversion to any LIBOR Rate Loan or any BA Loan and, in the case of immediately successive Interest Periods, each successive Interest Period shall commence on the date on which the next immediately 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 or a BA 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 immediately preceding Business Day;
(iii) any Interest Period with respect to a LIBOR Rate Loan or a BA 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 Maturity Date; and
(v) there shall be no more than five (5A) four (4) Interest Periods outstanding in effect at any timetime with respect to LIBOR Rate Loans and (B) ten (10) Interest Periods in effect at any time with respect to BA Loans.
Appears in 3 contracts
Samples: Credit Agreement (AbitibiBowater Inc.), Credit Agreement (AbitibiBowater Inc.), Credit Agreement (AbitibiBowater Inc.)
Interest Periods. In connection with each LIBOR Rate Loan and each Floating Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a5.1(a) (or, in the case of a Floating Rate Loan, in the applicable Notice of Competitive Bid Borrowing), 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 (or nine (9) or twelve (12) months or any other period if available from all Lenders) with respect to each LIBOR Rate (or, if applicable to a Floating Rate Loan, each EURIBO Rate); provided that:
(i) the Interest Period shall commence on the date of advance of or conversion to any LIBOR Rate Loan or the date of advance of any Floating Rate Loan 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 Revolving Credit Termination Date; and
(v) there shall be no more than five six (56) Interest Periods outstanding for Revolving Credit Loans in effect at any time.
Appears in 3 contracts
Samples: Five Year Credit Agreement (Jones Apparel Group Inc), Five Year Credit Agreement (Jones Apparel Group Inc), Five Year Credit Agreement (Jones Apparel Group Inc)
Interest Periods. In connection with the making or continuation of, or conversion into, each Borrowing of LIBOR Rate LoanLoans, the Borrower, by giving notice at the times described in Section 3.1(a), Borrowers shall elect select an interest period (each, each an "Interest Period") to be applicable to such LIBOR Loan, which Interest Period interest period shall be commence on the date such LIBOR Loan is made and shall end on a period of one (1)numerically corresponding day in the first, two (2)second, three (3) third or six (6) months with respect to each LIBOR Rate Loansixth month thereafter; provided provided, however, that:
(i) the initial Interest Period for a LIBOR Loan shall commence on the date of advance such Borrowing (including the date of or any conversion to any LIBOR Rate from a Loan or and, in the case of immediately successive Interest Periods, another Type) and each successive Interest Period occurring thereafter in respect of such Revolver Loan 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 provided that, if any Interest Period with in respect to a of LIBOR Rate Loan Loans 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) Period shall end expire on the last Business Day of the relevant such calendar month at the end of such Interest Period;month; and
(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 timelast day of the Term.
Appears in 3 contracts
Samples: Loan and Security Agreement (Tropical Sportswear International Corp), Loan and Security Agreement (Tropical Sportswear International Corp), Loan and Security Agreement (Danka Business Systems PLC)
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a)3.2 or 4.2, as applicable, shall elect an interest period (each, an "“Interest Period"”) to be applicable to such Term 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 Loanmonths; 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 immediately 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 immediately 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 DateTerm Loan Maturity Date without payment of any amounts pursuant to Section 4.9; and
(v) there shall be no more than five eight (5) 8) Interest Periods outstanding in effect at any time.
Appears in 3 contracts
Samples: Term Loan Agreement (Owens Corning), 364 Day Term Loan Agreement (Owens Corning), Term Loan Agreement (Owens Corning)
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a5.1(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 (or nine (9) or twelve (12) months or any other period if available from all Lenders) with respect to each LIBOR Rate LoanRate; 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 Revolving Credit Termination Date; and
(v) there shall be no more than five six (56) Interest Periods outstanding for Revolving Credit Loans in effect at any time.
Appears in 2 contracts
Samples: Five Year Credit Agreement (Jones Apparel Group Inc), Five Year Credit Agreement (Jones Apparel Group Inc)
Interest Periods. In connection with each LIBOR Rate Loan, the Administrative Borrower, by giving notice at the times described pursuant to and in accordance with Section 3.1(a2.3(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 Loanmonths; 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 immediately 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 immediately 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 Revolving Credit Maturity Date; and
(v) there shall be no more than five six (56) Interest Periods outstanding in effect at any time.
Appears in 2 contracts
Samples: Credit Agreement (La-Z-Boy Inc), Credit Agreement (La-Z-Boy Inc)
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a4.7(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 Loanmonths; 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 Term Loan Termination Date; and
(v) there shall be no more than five ten (510) Interest Periods outstanding at any time.
Appears in 2 contracts
Samples: Credit Agreement (Suburban Propane Partners Lp), Credit Agreement (Suburban Propane Partners Lp)
Interest Periods. In connection with each LIBOR Rate Loan, Parent, on behalf of the Applicable Borrower, by giving notice at the times described in Section 3.1(a)2.3 or 4.2, as applicable, 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 Loanmonths; 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 immediately 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 immediately 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 Maturity Date, without payment of any amounts pursuant to Section 4.9; and
(v) there shall be no more than five eight (5) 8) Interest Periods outstanding in effect at any time.
Appears in 2 contracts
Samples: Credit Agreement (Twin Disc Inc), Credit Agreement (Twin Disc Inc)
Interest Periods. In connection with each Borrowing of LIBOR Rate LoanLoans, the Borrower, by giving notice at the times described in Section 3.1(a)2.3, 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 Loanmonths; provided that:
(i) the Interest Period shall commence on the date of advance of or conversion to any Borrowing of LIBOR Rate Loan or Loans and, in the case of immediately successive Interest Periods, each successive Interest Period shall commence on the date on which the next immediately 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, provided that if any Interest Period with respect to a Borrowing of LIBOR Rate Loan Loans 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 immediately preceding Business Day;
(iii) any Interest Period with respect to a Borrowing of LIBOR Rate Loan Loans 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 Maturity Date; and
(v) there shall be no more than five (5) Interest Periods outstanding in effect at any time.
Appears in 2 contracts
Samples: Credit Agreement (MGP Ingredients Inc), Credit Agreement (MGP Ingredients Inc)
Interest Periods. In connection with the making or continuation of, or conversion into, each Borrowing of LIBOR Rate LoanLoans, the Borrower, by giving notice at the times described in Section 3.1(a), Borrower shall elect select an interest period (each, each an "Interest Period") to be applicable to such LIBOR Loan, which Interest Period interest period shall be commence on the date such LIBOR Loan is made and shall end on a period of one (1)numerically corresponding day in the first, two (2)second, three (3) third or six (6) months with respect to each LIBOR Rate Loansixth month thereafter; provided provided, however, that:
(i) the initial Interest Period for a LIBOR Loan shall commence on the date of advance such Borrowing (including the date of or any conversion to any LIBOR Rate from a Loan or and, in the case of immediately successive Interest Periods, another Type) and each successive Interest Period occurring thereafter in respect of such Revolver Loan 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 provided that, if any Interest Period with in respect to a of LIBOR Rate Loan Loans would otherwise expire on a day that 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;
(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) Period shall end expire on the last Business Day of the relevant such calendar month at the end of such Interest Period;month; and
(iv) no Interest Period with respect to any portion of principal of a Loan shall be permitted to extend beyond the Termination Datea date on which Borrower is required to make a scheduled payment of such portion of principal; and
(v) there no Interest Period shall be no more than five (5) Interest Periods outstanding at any timeextend beyond the last day of the Original Term.
Appears in 2 contracts
Samples: Loan and Security Agreement (Dixie Group Inc), Loan and Security Agreement (Dixie Group Inc)
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a)Sections 2.3, 4.2 or 5.2, as applicable, 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 immediately 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 immediately 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 Revolving Credit Maturity Date or the Term Loan Maturity Date, as applicable; and
(v) there shall be no more than five eight (5) 8) Interest Periods outstanding in effect at any time.
Appears in 2 contracts
Samples: Credit Agreement (Jack in the Box Inc /New/), Credit Agreement (Jack in the Box Inc /New/)
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a)2.2 or 3.2, as applicable, 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 (or, if available to each LIBOR Rate all the Lenders making the applicable Loan, nine (9) or twelve (12) months); 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 immediately 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 immediately 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 Maturity Date; , and
(v) there shall be no more than five eight (5) 8) Interest Periods outstanding in effect at any time.
Appears in 2 contracts
Samples: Credit Agreement (Hhgregg, Inc.), Credit Agreement (Hhgregg, Inc.)
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a), Borrower shall elect an interest period (each, each an "Interest Period") to be applicable to such Loan, which Interest Period shall be either a period of one one, two, three, six or (1), two (2), three (3if and when available to all Lenders) or six (6) months with respect to each LIBOR Rate Loannine month period; provided that:
(i1) the initial Interest Period for any LIBOR Loan shall commence on the date Funding Date of advance of or conversion to any LIBOR Rate Loan or and, such Loan;
(2) in the case of immediately successive Interest Periods, each successive Interest Period shall commence on the date day on which the next immediately preceding Interest Period expires;
(ii3) if any an Interest Period would otherwise expire on a day that expiration date is not a Business Day, such Interest Period shall expire on the next succeeding Business Day; provided, provided that if any Interest Period with respect to a LIBOR Rate Loan would otherwise expire on a day that expiration date 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 immediately preceding Business Day;
(iii4) 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 shall, subject to part (5), below, end on the last Business Day of the relevant a calendar month at the end of such Interest Periodmonth;
(iv5) no Interest Period shall be permitted to extend beyond the Termination Date; and
(v6) there shall be no more than five ten (510) Interest Periods relating to LIBOR Loans outstanding at any time.
Appears in 2 contracts
Samples: Loan and Security Agreement (Chief Auto Parts Inc), Loan and Security Agreement (Chief Auto Parts Inc)
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a)2.3 or 4.2, as applicable, 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 Loanmonths; 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 immediately 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 immediately 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 Revolving Credit Maturity Date, and Interest Periods shall be selected by the Borrower so as to permit the Borrower to make the quarterly principal installment payments pursuant to Section 4.3 without payment of any amounts pursuant to Section 4.9; and
(v) there shall be no more than five ten (510) Interest Periods outstanding in effect at any time.
Appears in 2 contracts
Samples: Credit Agreement (DCP Midstream Partners, LP), Credit Agreement (DCP Midstream Partners, LP)
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a)2.3 or 5.2, as applicable, shall elect an interest period (each, an "“Interest Period"”) to be applicable to such Loan, which Interest Period shall be a period of two (2) weeks or one (1), two (2), three (3) ), or six (6) months with respect to each LIBOR Rate Loanmonths; 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 immediately 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 immediately 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 Revolving Credit Maturity Date; and
(v) there shall be no more than five ten (510) Interest Periods outstanding in effect at any time.
Appears in 2 contracts
Samples: Credit Agreement (Amerigas Partners Lp), Credit Agreement (Amerigas Partners Lp)
Interest Periods. In connection with each LIBOR Rate Loan, the Original Borrower, by giving notice at the times described in Section 3.1(a)2.3 or 4.2, as applicable, shall elect an interest period (each, an "Interest Period") to be applicable to such Revolving Credit Loan, which Interest Period shall be a period of one (1), two (2), three (3) ), or six (6) months (provided, that prior to the Conversion Date, Interest Periods of six (6) months shall only be permitted with respect to each LIBOR Rate Loanthe consent of all Lenders); 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 immediately 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 immediately 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 Maturity Date; and
(v) there shall be no more than five eight (5) 8) Interest Periods outstanding in effect at any time.
Appears in 2 contracts
Samples: Eighth Amendment and Waiver (AbitibiBowater Inc.), Credit Agreement (Bowater Inc)
Interest Periods. In connection with each LIBOR Rate Loan, the US Borrower, on behalf of itself and the Canadian Borrower, by giving notice at the times described in Section 3.1(a)2.4 or 4.2, as applicable, shall elect an interest period (each, an "“Interest Period"”) to be applicable to such LIBOR Rate 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 Loanmonths; 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 immediately 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 immediately 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 Maturity Date; and
(v) there shall be no more than five six (56) Interest Periods outstanding in effect at any time.
Appears in 2 contracts
Samples: Credit Agreement (SCP Pool Corp), Credit Agreement (SCP Pool Corp)
Interest Periods. (i) In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a)2.3, shall elect an interest period (each, an a "LIBOR Interest Period") to be applicable to such Loan, which LIBOR Interest Period shall be a period of one (1), two (2), three (3) ), or six (6) months with respect to each LIBOR Rate Loanmonths; provided that:
(iA) the each LIBOR 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 LIBOR Interest Periods, each successive LIBOR Interest Period shall commence on the date on which the next preceding LIBOR Interest Period expires;
(iiB) if any LIBOR Interest Period would otherwise expire on a day that is not a Business Day, such LIBOR Interest Period shall expire on the next succeeding Business Day; provided, that if any LIBOR 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 LIBOR Interest Period shall expire on the next preceding Business Day;
(iiiC) any LIBOR 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 LIBOR Interest Period) shall end on the last Business Day of the relevant calendar month at the end of such LIBOR Interest Period;
(iv) no Interest Period shall be permitted to extend beyond the Termination Date; and
(vD) there no LIBOR Interest Period shall extend beyond the Maturity Date.
(ii) There shall be no more than five eight (5) 8) LIBOR Interest Periods outstanding in effect at any time.
Appears in 2 contracts
Samples: Credit Agreement (Performance Food Group Co), Credit Agreement (Performance Food Group Co)
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a4.06(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 (or twelve (12) months, if available, and consented to each LIBOR Rate Loanby the Administrative Agent and the Lenders ); 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 eight (5) 8) Interest Periods outstanding at any time.
Appears in 2 contracts
Samples: Credit Agreement (Inergy L P), Credit Agreement (Inergy L P)
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 no interest period shall be selected by the Borrower which would result in the repayment of any LIBOR Rate Loan prior to the end of an Interest Period; and
(v) there shall be no more than five ten (510) Interest Periods outstanding at any time.
Appears in 2 contracts
Samples: Credit Agreement (Commonwealth Telephone Enterprises Inc /New/), Credit Agreement (Commonwealth Telephone Enterprises Inc /New/)
Interest Periods. In connection with each LIBOR Rate Loan, the Administrative Borrower, by giving notice at the times described in Section 3.1(a)2.3 or 4.2, as applicable, 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 or if then available from each LIBOR Rate LoanLender, nine (9) or twelve (12) months; 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 immediately 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 immediately 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 specified in clause (a) of the definition of the term “Maturity Date”, without payment of any amounts pursuant to Section 4.9; and
(v) there shall be no more than five eight (5) 8) Interest Periods outstanding in effect at any time.
Appears in 2 contracts
Samples: Credit Agreement (Broadview Networks Holdings Inc), Credit Agreement (Broadview Networks Holdings Inc)
Interest Periods. In connection with each LIBOR Rate Loan, (a) Interest is calculated and payable on the Borrower, Loan by giving notice at the times described in Section 3.1(a), shall elect reference to Interest Periods.
(b) The Borrower may select an interest period (each, an "Interest Period") to be applicable to such Loan, which Interest Period shall be a period for an Advance in the Notice of one (1)Drawing of one, two (2)or three months, three (3) or six (6) months with respect to each LIBOR Rate Loan; provided thatand:
(i) the first Interest Period for the Loan shall start on the first Advance Date and each subsequent Interest Period shall commence start on the date last day 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 expiresPeriod;
(ii) if any Interest Period would otherwise expire ends on a day that is not a non-Business Day, such Interest Period its duration shall expire be adjusted so as to end 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 in the same calendar month after which no further Business Day occurs in such monthor, such Interest Period shall expire if none, on the next immediately preceding Business Day;
(iii) any Interest Period with respect to a LIBOR Rate Loan that which begins either on the last Business Day of in a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of in which such Interest Period) shall Period is due to end shall, subject to this Sub-clause, end on the last Business Day of the relevant calendar month at the end of such Interest Period;later month; and
(iv) no Interest Period shall be permitted to extend beyond the Termination Date; andFinal Maturity Date or a day on which a repayment instalment falls due under Clause 8(a).
(vc) there The first Interest Periods in respect of the second and all subsequent Advances shall commence on their respective Advance Dates and end on the last day of the then current Interest Period in respect of the balance of the Loan whereupon the first and subsequent Advances shall be no more than five consolidated into, and treated as, a single Advance. The Borrower may select an Interest Period of one, two or three months in respect of such consolidated Advances provided that the Bank has received notice of the Borrower’s selection three Business Days before the first day of the proposed Interest Period.
(5d) If the Borrower fails to select an Interest Periods outstanding at any timePeriod in a Notice of Drawing or in accordance with Clause 11(c) (as the case may be), the relevant Interest Period shall be three months.
Appears in 2 contracts
Samples: Term Loan Facility Agreement (Asia Pacific Wire & Cable Corp LTD), Term Loan Facility Agreement (Asia Pacific Wire & Cable Corp LTD)
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a5.1(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 Revolving Credit Maturity Date or the Term Loan Maturity Date, as applicable, and Interest Periods shall be selected by the Borrower so as to permit the Borrower to make mandatory reductions of the Revolving Credit Commitment pursuant to Section 2.6(b) and the quarterly principal installment payments pursuant to Section 4.3 without payment of any amounts pursuant to Section 5.9; and
(v) there shall be no more than five eight (5) 8) Interest Periods outstanding in effect at any time.
Appears in 2 contracts
Samples: Credit Agreement (Veridian Corp), Credit Agreement (Veridian Corp)
Interest Periods. In connection with each LIBOR Rate Loan and each BA Loan, the Borrower, by giving notice at the times described in Section 3.1(a)Sections 2.5 or 4.2, as applicable, shall elect an interest period (each, an "“Interest Period"”) to be applicable to such Revolving Credit Loan, which Interest Period shall be a period of one (1), two (2), three (3) ), or six (6) months (provided, that prior to the Conversion Date, Interest Periods of six (6) months shall only be permitted with respect to each LIBOR Rate Loanthe consent of all Lenders); provided that:
(i) the Interest Period shall commence on the date of advance of or conversion to any LIBOR Rate Loan or any BA Loan and, in the case of immediately successive Interest Periods, each successive Interest Period shall commence on the date on which the next immediately 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 or a BA 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 immediately preceding Business Day;
(iii) any Interest Period with respect to a LIBOR Rate Loan or a BA 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 Maturity Date; and
(v) there shall be no more than five (5A) four (4) Interest Periods outstanding in effect at any timetime with respect to LIBOR Rate Loans and (B) ten (10) Interest Periods in effect at any time with respect to BA Loans.
Appears in 2 contracts
Samples: Credit Agreement (AbitibiBowater Inc.), Credit Agreement (Bowater Inc)
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, Borrower by giving notice at the times described in Section 3.1(a)2.3 or 4.2, as applicable, 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 Loanmonths; 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 immediately 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 immediately 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 Maturity Date, without payment of any amounts pursuant to Section 4.9; and
(v) there shall be no more than five eight (5) 8) Interest Periods outstanding in effect at any time.
Appears in 2 contracts
Samples: Credit Agreement (Apogee Enterprises, Inc.), Credit Agreement (Apogee Enterprises Inc)
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a)2.3 or 3.2, as applicable, 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), ) or three (3) or six (6) months with respect to each LIBOR Rate Loanmonths; 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 immediately 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 immediately 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 DateMaturity Date and Interest Periods shall be selected by the Borrower so as to permit the Borrower to make the principal payments pursuant to Section 2.3(b) without payment of any amounts pursuant to Section 3.9; and
(v) there shall be no more than five three (53) Interest Periods outstanding in effect at any time.
Appears in 2 contracts
Samples: Credit Agreement (Bok Financial Corp Et Al), Credit Agreement (Bok Financial Corp Et Al)
Interest Periods. In connection with each 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 Loan may be applicable to such Loan, which Interest Period shall be obtained for a period of one ---------------- (1), two (2), three (3) or six (6) months with month period (each such period being an "Interest Period"). With respect to each all LIBOR Rate Loan; provided thatLoans:
(i) the Interest Period shall will commence on the date that the LIBOR Loan is made or the date on which any portion of advance of or conversion to any LIBOR the Base Rate Loan or andis converted into a LIBOR Loan, or, in the case of immediately successive Interest Periods, each successive Interest Period shall commence on the date day on which the next immediately preceding Interest Period expires;
(ii) if any the Interest Period would otherwise expire on a day that is not a Business Day, such Interest Period shall then it will 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 and such day is a day of the a calendar month after which no further Business Day occurs in such month, such Interest Period shall expire on the Business Day next preceding Business Daysuch 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 last calendar month at the end of in such Interest Period) Period shall end on the last Business Day of the relevant last calendar month at the end of in such Interest Period;
(iv) no Interest Period shall be permitted selected for any Loan if, in order to extend beyond make repayments required pursuant to Subsection 1.6(D) in connection with scheduled ** Greater than * Less than reductions of the Termination DateLoan Commitments pursuant to Subsection 1.6(A), repayment of all or any portion of such Loan prior to the expiration of such Interest Period would be necessary; and
(v) there no Interest Period shall be no more than five extend beyond the date set forth in clause (5iii) Interest Periods outstanding at any timeof the definition of the term "Expiration Date."
Appears in 2 contracts
Samples: Credit Agreement (Us Unwired Inc), Credit Agreement (Unwired Telecom Corp)
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a4.1(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 (or, if available to all of the Lenders, nine (9) months or twelve (12) 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 immediately 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 immediately 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 Revolving Credit Termination Date; and
(v) there shall be no more than five six (56) Interest Periods outstanding in effect at any time.
Appears in 2 contracts
Samples: Credit Agreement (Compx International Inc), Credit Agreement (Compx International Inc)
Interest Periods. In connection with each LIBOR Rate Loan, Longhorn, on behalf of the BorrowerBorrowers, 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 Loanmonths; provided 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.in
Appears in 2 contracts
Samples: Credit Agreement (Rare Hospitality International Inc), Credit Agreement (Rare Hospitality International Inc)
Interest Periods. In connection with each LIBOR Rate Loan, the BorrowerBorrowers, by giving notice at the times described in Section 3.1(a2.3(a) or Section 5.1(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 immediately 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 immediately 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 Revolving Credit Termination Date or the Term Loan Termination Date, as applicable; and
(v) there shall be no more than five ten (510) Interest Periods outstanding in effect at any time.
Appears in 2 contracts
Samples: Credit Agreement (Belk Inc), Credit Agreement (Belk Inc)
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a), Borrower shall elect an interest period (each, each an "“Interest Period"”) to be applicable to such LIBOR Loan, which Interest Period shall be either a period of one (1), two (2)one, three (3) or six (6) months with respect to each LIBOR Rate Loanmonth period; provided that:
(i1) the initial Interest Period for any LIBOR Loan shall commence on the date of advance of borrowing of, conversion into, or conversion to any continuation of, such LIBOR Rate Loan or and, Loan;
(2) in the case of immediately successive Interest Periods, each successive Interest Period shall commence on the date day on which the next immediately preceding Interest Period expires;
(ii3) if any an Interest Period would otherwise expire on a day that expiration date is not a Business Day, such Interest Period shall expire on the next succeeding Business Day; provided, provided that if any Interest Period with respect to a LIBOR Rate Loan would otherwise expire on a day that is not a such succeeding Business Day but is a day of falls in the month after which no further Business Day occurs in such next calendar month, such Interest Period shall expire on the next immediately preceding Business Day;
(iii4) 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 shall, subject to part (5) below, end on the last Business Day of the relevant a calendar month at the end of such Interest Periodmonth;
(iv5) no Interest Period shall be permitted to extend beyond the Termination Maturity Date; and
(v6) there shall be no more than five (5) Interest Periods relating to LIBOR Loans outstanding at any time.
Appears in 2 contracts
Samples: Loan Agreement (Penn Octane Corp), Loan Agreement (Rio Vista Energy Partners Lp)
Interest Periods. In connection with Each interest period (the “Interest Period”) applicable to 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 Loan shall be a period of one (1), two (2), ) or three (3) or six (6) months with respect to each LIBOR Rate Loanmonths; 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 immediately 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 immediately 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 Revolving Credit Maturity Date; and
(v) there shall be no more than five (5) Interest Periods outstanding in effect at any time.
Appears in 2 contracts
Samples: Credit Agreement (Tekelec), Credit Agreement (Tekelec)
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 Each Interest Period shall be a period selected by the Borrower pursuant to the terms of one (1), two (2), three (3) or six (6) months with respect to each LIBOR this Interest Rate Loan; provided that:
(i) the Interest Period Election Rider shall commence on the date selected and shall end on the last day of advance of or conversion to any LIBOR Rate Loan or andthe time period the Borrower shall elect, in each case as set forth in the case definition of immediately successive Interest Periods, each successive Interest Period shall commence on the date on which the next preceding Interest Period expires;
in Paragraph 2.1 hereof; provided, however, that (iia) if any Interest Period that would otherwise expire end 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 which is not a Business Day but is a day of shall be extended to the month after which no further next Business Day occurs in unless such extension would carry such Interest Period into the next month, in which event such Interest Period shall expire end on the next preceding Business Day;
; (iiib) 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 date for which there is no numerically corresponding day in the calendar month at the end of during which such Interest PeriodPeriod is to end), shall (subject to clause (a) shall above) end on the last Business Day of such calendar month; and (c) any Interest Period that would otherwise extend beyond the relevant calendar month at Expiration Date shall end on the end Expiration Date. If the LIBOR Rate for an Interest Period is greater or less than the LIBOR Rate for the immediately preceding Interest Period, then the rate of interest paid by the Borrower will be adjusted accordingly effective on the first day 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.
Appears in 2 contracts
Samples: Term Note (Truett-Hurst, Inc.), Term Note (Truett-Hurst, Inc.)
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 eight (5) 8) Interest Periods outstanding at any time.
Appears in 2 contracts
Samples: Credit Agreement (Inergy L P), Credit Agreement (Inergy L P)
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a)2.3 or Section 4.2, as applicable, 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 Loanmonths; 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 immediately 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 immediately 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 Revolving Credit Maturity Date; and
(v) there shall be no more than five ten (510) Interest Periods outstanding in effect at any time.
Appears in 2 contracts
Samples: Credit Agreement (Tuesday Morning Corp/De), Credit Agreement (Tuesday Morning Corp/De)
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a)2.2 or 3.2, as applicable, 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 Loanmonths; 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 immediately 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 immediately 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 Revolver Maturity Date or Term Loan Maturity Date, as applicable, without payment of any amounts pursuant to Section 3.9; and
(v) there shall be no more than five eight (5) 8) Interest Periods outstanding in effect at any time.
Appears in 2 contracts
Samples: Credit Agreement, Credit Agreement (Hormel Foods Corp /De/)
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a5.1(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 immediately 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 immediately 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 Revolving Credit Maturity Date or the Term Loan Maturity Date, as applicable, and Interest Periods shall be selected by the Borrower so as to permit the Borrower to make the quarterly principal installment payments pursuant to Section 4.3 without payment of any amounts pursuant to Section 5.9; and
(v) there shall be no more than five six (56) Interest Periods outstanding in effect at any time.
Appears in 2 contracts
Samples: Credit Agreement (Wackenhut Corrections Corp), Credit Agreement (Wackenhut Corrections Corp)
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 The Interest Period for each Eurodollar Loan shall be one month, PROVIDED that the initial Interest Period may be for a period of less than one (1), two (2), three (3) or six (6) months with respect to each LIBOR Rate Loan; provided thatmonth if agreed upon by the Borrower and the Lender. Notwithstanding the foregoing:
(ia) the initial Interest Period for any Borrowing of Eurodollar Loans 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, such Borrowing and each successive Interest Period occurring thereafter in respect of such Borrowing shall commence on the date day on which the next preceding Interest Period expires;
(iib) if any Interest Period begins on the last Business Day of a calendar month or begins on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) 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, 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
(vd) there the Borrower shall not be no more than five (5) entitled to elect any Interest Periods outstanding at Period in respect of any timeEurodollar Loan if such Interest Period would extend beyond the Maturity Date.
Appears in 2 contracts
Samples: Credit Agreement (Wki Holding Co Inc), Credit Agreement (Wki Holding Co Inc)
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a)2.3 or 4.2, as applicable, 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 Loanmonths; 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 immediately 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 immediately 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 Maturity Date; and
(v) there shall be no more than five ten (510) Interest Periods outstanding in effect at any time.
Appears in 2 contracts
Samples: Credit Agreement (Lmi Aerospace Inc), Credit Agreement (Lmi Aerospace Inc)
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, US Borrower by giving notice at the times described in Section 3.1(a)2.3 or 5.2, as applicable, 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 (or nine (9) or twelve (12) months if agreed to each LIBOR Rate Loanby all relevant Lenders); 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 immediately 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, provided that if any Interest Period with respect to a LIBOR Rate Loan would otherwise expire on a day that is not a 50788495_7
(iii) 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 immediately preceding Business Day;
(iiiiv) 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;
(ivv) no Interest Period shall be permitted to extend beyond the Termination Revolving Credit Maturity Date or the Term Loan Maturity Date, as applicable; and
(vvi) there shall be no more than five eight (5) 8) Interest Periods outstanding in effect at any time.
Appears in 2 contracts
Samples: Credit Agreement (DXP Enterprises Inc), Credit Agreement (DXP Enterprises Inc)
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a)2.3 or 4.2, as applicable, 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 Loanmonths; 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 immediately 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 immediately 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 Maturity Date, without payment of any amounts pursuant to Section 4.9; and
(v) there shall be no more than five eight (5) 8) Interest Periods outstanding in effect at any time.
Appears in 1 contract
Interest Periods. In connection with the making or continuation of, or conversion into, each Borrowing of LIBOR Rate LoanLoans, the Borrower, by giving notice at the times described in Section 3.1(a), Borrower shall elect select an interest period (each, each an "Interest Period") to be applicable to such LIBOR Loan, which Interest Period interest period shall be commence on the date such LIBOR Loan is made and shall end on a period of one (1)numerically corresponding day in the first, two (2)second, three (3) third or six (6) months with respect to each LIBOR Rate Loansixth month thereafter; provided provided, however, that:
(i) the initial Interest Period for a LIBOR Loan shall commence on the date of advance such Borrowing (including the date of or any conversion to any LIBOR Rate from a Loan or and, in the case of immediately successive Interest Periods, another Type) and each successive Interest Period occurring thereafter in respect of such Revolver Loan 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, provided that if any Interest Period with in respect to a of LIBOR Rate Loan Loans would otherwise expire on a day that 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;
(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) Period shall end expire on the last Business Day of the relevant such calendar month at the end of such Interest Periodmonth;
(iv) no Interest Period with respect to any portion of principal of a Loan shall be permitted to extend beyond the Termination Datea date on which Borrower is required to make a scheduled payment of such portion of principal; and
(v) there no Interest Period shall be no more than five (5) Interest Periods outstanding at any timeextend beyond the last day of the Original Term.
Appears in 1 contract
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a), Borrower shall elect an interest period (each, each an "Interest Period") to be applicable to such Loan, which Interest Period shall be either a period of one (1), two (2), three (3) or six (6) months with respect to each LIBOR Rate Loanmonth period; provided that:
(i) the Interest Period for any Loan 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 expiressuch Loan;
(ii) if any an 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; providedprovided that, 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 a calendar month at the end of such Interest Periodmonth;
(iv) no Interest Period shall be permitted to extend beyond the Termination Maturity Date; and
(v) there shall be no more than five (5) Interest Periods outstanding at Period with respect to any timeLIBOR Rate Loan may extend beyond a date on which Borrower are required to make a scheduled payment of principal of such Loan if and to the extent that such scheduled principal repayment would result in or cause a prepayment of any portion of a LIBOR Rate Loan.
Appears in 1 contract
Samples: Revolving Credit Agreement (Champion Industries Inc)
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a), Borrower Representative shall elect an interest period (each, each an "Interest Period") to be applicable to such Loan, which Interest Period shall be either a period of one (1)one, two (2)two, three (3) or six (6) months with respect to each LIBOR Rate Loanfour month period; provided that:
(i1) the initial Interest Period for any LIBOR Loan shall commence on the date Funding Date of advance of or conversion to any LIBOR Rate Loan or and, such Loan;
(2) in the case of immediately successive Interest Periods, each successive Interest Period shall commence on the date day on which the next immediately preceding Interest Period expires;
(ii3) if any an Interest Period would otherwise expire on a day that expiration date is not a Business Day, such Interest Period shall expire on the next succeeding Business Day; provided, provided that if any Interest Period with respect to a LIBOR Rate Loan would otherwise expire on a day that is not a such succeeding Business Day but is a day of falls in the month after which no further Business Day occurs in such next calendar month, such Interest Period shall expire on the next immediately preceding Business Day;
(iii4) 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 shall, subject to part (5) and (6) below, end on the last Business Day of the relevant a calendar month at the end of such Interest Periodmonth;
(iv5) no Interest Period shall be permitted to extend beyond the Termination Date;
(6) no Interest Period may extend beyond a scheduled principal payment date unless the sum of (a) the aggregate principal amount of Loans that are Base Rate Loans or that have Interest Periods expiring on or before such date and (b) the Unused Availability equals or exceeds the principal amount required to be paid on the Loans on such date; and
(v7) there shall be no more than five (5) Interest Periods relating to LIBOR Loans outstanding at any time.
Appears in 1 contract
Interest Periods. In connection with the making or ---------------- continuation of, or conversion into, each Syndicate Revolving Loan comprised of LIBOR Rate LoanAdvances, the Borrower, by giving notice at the times described in Section 3.1(a), Borrower shall elect select an interest period (each, each an "Interest Period") to be applicable to such LoanLIBOR Advances, which Interest Period shall be either a period of one (1), two (2), three (3) 3 or six (6) months with respect to each LIBOR Rate Loan6 month period; provided that:: -------- ----
(ia) the The initial Interest Period for any Borrowing of LIBOR Advances shall commence on the date of advance such Borrowing (including the date of or any conversion to any LIBOR Rate Loan or and, in the case from a Borrowing consisting of immediately successive Interest Periods, Advances of another Type) and each successive Interest Period occurring thereafter in respect of such Borrowing shall commence on the date day on which the next preceding Interest Period expires;
(iib) if If any Interest Period would otherwise expire on a day that which is not a Business Day, such Interest Period shall expire on the next succeeding Business Day; provided, provided that if any Interest Period with in respect to a of LIBOR Rate Loan Advances 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;
(iiic) any Any Interest Period with in respect to a of LIBOR Rate Loan that Advances which 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 PeriodPeriod shall, subject to part (d) shall end below, expire on the last Business Day of the relevant such calendar month at the end of such Interest Periodmonth;
(ivd) no No Interest Period shall be permitted to extend beyond any date upon which any principal payment is due with respect to the Termination Date; and
(v) there shall be no more than five (5) Interest Periods outstanding at any timeRevolving Loans.
Appears in 1 contract
Samples: Revolving Credit and Line of Credit Agreement (Rotech Medical Corp)
Interest Periods. In connection with The Borrower may select for any Eurodollar Rate Loan the Interest Period (as defined in the next sentence) for each LIBOR Rate LoanBorrowing, it being understood that the Borrower, by giving notice at Borrower may request multiple Borrowings on the times described in Section 3.1(a), shall elect an interest period (each, an "same day and may select a different Interest Period") to be applicable to Period for each such Loan, which Borrowing. An Interest Period shall be each period, as selected by the Borrower in accordance with the terms of this Agreement, beginning on the Borrowing Date of any Eurodollar Rate Loan, or on the Conversion/Continuation Date on which any Loan is converted into or continued as a period of one (1)Eurodollar Rate Loan, two (2)and ending on the date specified by the Borrower that is one, two, three (3) or six (6) months with respect to each LIBOR Rate Loanthereafter; provided that:
(i) that whenever the first day of any Interest Period occurs on a day of an initial calendar month for which there is no numerically corresponding day in the calendar month that succeeds such initial calendar month by the number of months equal to the number of months in such Interest Period, such Interest Period shall commence end on the date last Business Day of advance such succeeding calendar month; and provided further that if the last day 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 an Interest Period would otherwise expire on be a day that is not a Business Day, such Interest Period shall expire on be extended to 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 unless such next succeeding Business Day but is in a day of the month after which no further Business Day occurs in such different calendar month, in which case such Interest Period interest period shall expire end on the next preceding Business Day;
; but provided, however, that (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;
(ivi) no Interest Period applicable to any Revolving Loan shall be permitted to extend beyond the Revolving Termination Date; and
and (vii) there no Interest Period applicable to any Term Loan shall extend beyond the Term Loan Maturity Date specified in the Borrowing Advice for such Term Loan, which in no event shall be no more later than five (5) Interest Periods outstanding at any timeMay 31, 2019.
Appears in 1 contract
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a)2.2 or Section 4.2, as applicable, 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 Loanor twelve (12) months; 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 immediately 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 immediately 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 DateRevolving Credit Maturity Date and Interest Periods shall be selected by the Borrower so as to permit the Borrower to make the quarterly principal installment payments pursuant to Section 3.3 without payment of any amounts pursuant to Section 4.9; and
(v) there shall be no more than five six (56) Interest Periods outstanding in effect at any time.
Appears in 1 contract
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 Loanmonth; 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 immediately 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 immediately 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 Maturity Date; and
(v) there shall be no more than five four (54) Interest Periods outstanding Period in effect at any time.
Appears in 1 contract
Interest Periods. In connection with the making or continuation of, or conversion into, each Borrowing of LIBOR Rate LoanLoans, the Borrower, by giving notice at the times described in Section 3.1(a), Borrowers shall elect select an interest period (each, each an "“Interest Period"”) to be applicable to such LIBOR Loan, which Interest Period shall be commence on the date such LIBOR Loan is made and shall end on a period of one (1)numerically corresponding day in the first, two (2)second, three (3) third or six (6) months with respect to each LIBOR Rate Loansixth month thereafter; provided provided, however, that:
(i) the initial Interest Period for a LIBOR Loan shall commence on the date of advance such Borrowing (including the date of or any conversion to any LIBOR Rate from a Loan or and, in the case of immediately successive Interest Periods, another Type) and each successive Interest Period occurring thereafter in respect of such LIBOR Loan 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 provided that, if any Interest Period with in respect to a of LIBOR Rate Loan Loans would otherwise expire on a day that is not a Business Day 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) Period shall end expire on the last Business Day of the relevant such calendar month at the end of such Interest Period;month; and
(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 timelast day of the Term.
Appears in 1 contract
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a)2.2 or 5.2, as applicable, 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), or three (3) or six (6) months with respect to each LIBOR Rate Loanmonths; 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 immediately 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 immediately 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 Revolving Credit Maturity Date; and
(v) there shall be no more than five six (56) Interest Periods outstanding in effect at any time.
Appears in 1 contract
Interest Periods. In connection with each LIBOR Rate Loanthe making, the Borrowerconversion or continuation of any LIBORSOFR Loans, by giving notice at the times described in Section 3.1(a)Colonial, ACM, or TCM, as applicable, shall elect select an interest period (each, an "“Interest Period"”) to be applicable to such Loanapply, which Interest Period interest period shall be a period of one (1)one, two (2)two, three (3) three, four or six months (6) months with respect to each LIBOR Rate Loanif available from all Lenders); provided provided, however, that:
(ia) xxxxx Interest Period shall begin on the dateextend beyond the Revolver Loan is made or continued as, or converted into, a LIBOR Loan, and shall expire on the numerically corresponding day in the calendar month at its endCommitment Termination Date;
(b) if any Interest Period begin on a day for which there is no corresponding day in the calendar month at its end or if such corresponding day falls after the last Business Day of such month, then the Interest Period shall commence expire on the date last Business Day of advance such month; and ifwhenever the last day 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 onbe a day that is not a Business Day, the periodlast day of such Interest Period shall expire on onbe extended to the next succeeding Business Day; provided, that provided that, if any such extension would cause the last day of an Interest Period with respect for a Borrowing of SOFR Loans to a LIBOR Rate Loan would otherwise expire on a day that is not a Business Day but is a occur in the following calendar month, the last day of the month after which no further Business Day occurs in such month, such Interest Period shall expire on be the next immediately preceding Business Day;; and
(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;
(ivc) no Interest Period shall be permitted to extend beyond the Revolver Commitment Termination Date; and
(v) there shall be no more than five (5) Interest Periods outstanding at any time.
Appears in 1 contract
Interest Periods. In connection with the making or continuation of, or conversion into, each LIBOR Rate LoanBorrowing of Euro-Dollar Loans, the Borrower, by giving notice at the times described in Section 3.1(a), Borrowers shall elect select an interest period (each, each an "Interest Period") to be applicable to such Euro-Dollar Loan, which Interest Period interest period shall be commence on the date such Euro-Dollar Loan is made and shall end on a period of one (1)numerically corresponding day in the first, two (2)second or third month thereafter; provided, three (3) or six (6) months with respect to each LIBOR Rate Loan; provided however, that:
(i) the initial Interest Period for a Euro-Dollar Loan shall commence on the date of advance such Borrowing (including the date of or any conversion to any LIBOR Rate from a Loan or and, in the case of immediately successive Interest Periods, another Type) and each successive Interest Period occurring thereafter in respect of such Loan shall commence on the date on which that 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, provided that if any Interest Period with in respect to a LIBOR Rate Loan of Euro-Dollar Loans 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) Period shall end expire on the last Business Day of the relevant such calendar month at the end of such Interest Periodmonth;
(iv) no Interest Period with respect to any portion of principal of a Loan shall be permitted to extend beyond the Termination Datea date on which a Borrower is required to make a scheduled payment of such portion of principal; and
(v) there no Interest Period shall be no more than five (5) Interest Periods outstanding at any timeextend beyond the last day of the Term.
Appears in 1 contract
Samples: Loan and Security Agreement (Proxymed Inc /Ft Lauderdale/)
Interest Periods. In connection with Each Interest Period for each LIBOR Rate LoanLoan shall be (i) in the case of Loans comprising the initial Borrowing hereunder, six months (the last day of each such period, an “Interest Period End Date”), and (ii) in the case of Loans comprising other Borrowings, (A) initially, the Borrowerperiod from the date of the Borrowing thereof to the first Interest Period End Date to occur after such Borrowing date, by giving notice at and (B) thereafter, the times described in Section 3.1(a)period from but excluding the immediately preceding Interest Period End Date to and including the next succeeding Interest Period End Date; provided, shall elect an interest period (eachhowever, an "Interest Period") to be applicable to such Loan, which that no Interest Period shall extend beyond the Maturity Date. The determination of Interest Periods shall be a period of one (1), two (2), three (3) or six (6) months with respect subject to each LIBOR Rate Loan; provided thatthe following provisions:
(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 day on which the next preceding Interest Period expires;
(ii) if any Interest Period would otherwise expire end on a day that which is not a Business Day, that Interest Period shall be extended to the next succeeding Business Day unless, in the case of a Loan, the result of such extension would be to carry such Interest Period into another calendar month, in which event such Interest Period shall expire end on the next succeeding immediately preceding 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;and
(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 ending calendar month at the end of such Interest Period) shall end on the last Business Day of the relevant ending 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.
Appears in 1 contract
Samples: Credit Agreement (NRG Energy, Inc.)
Interest Periods. In connection with each LIBOR Rate Loan, the BorrowerBorrowers, by giving notice at the times described in Section 3.1(a)4.1(a) hereof, 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 such 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 Revolving Credit Termination Date; and
(v) there shall be no more than five ten (510) different Interest Periods applicable to LIBOR Rate Loans outstanding at any time.
Appears in 1 contract
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 Each Interest Period shall be for 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 Eurodollar Loan shall commence on the date such Eurodollar Loan is made or Converted from a Floating Rate Loan, or on the expiration of advance of the immediately preceding Interest Period for such Eurodollar Loan, and shall end on the date which is 1, 2, 3 or conversion to any LIBOR Rate Loan or and6 months thereafter, as the Company may specify:
(a) in the case of immediately successive Interest Periods, each successive an Interest Period shall commence which commences on the date on which a Eurodollar Loan is made or Converted from a Floating Rate Loan, in the next preceding related notice of borrowing or Conversion pursuant to SECTION 1.3 or 1.4, or
(b) in the case of a succeeding Interest Period expires;
with respect to any Eurodollar Loan, by notice to the Agent by 11:00 A.M., Chicago time, at least two Business Days prior to the first day of such succeeding Interest Period, being understood that (i) each such notice shall be effective upon receipt by the Agent and shall be in writing (or by telephone to be promptly confirmed in writing) and (ii) if any the Company fails to give such notice, such Eurodollar Loan shall automatically become a Floating Rate Loan at the end of its then-current Interest Period. Each Interest Period for a Eurodollar Loan which would otherwise expire end on a day that which is not a Business Day, such Interest Period Day shall expire end 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 Day (unless such next succeeding Business Day but is a day of the month after which no further first Business Day occurs in such of a calendar month, in which case such Interest Period shall expire end on the next preceding Business Day;
(iii) ). Notwithstanding any other provision of this Agreement, the Company may not select 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 extends beyond the Revolving Termination Date; and
(v) . After giving effect to any Revolving Loan, there shall not be no more than five eight (5) 8) different Interest Periods outstanding at any timein effect for all Revolving Loans then outstanding.
Appears in 1 contract
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a), ---------------- Borrower shall elect an interest period (each, each an "Interest Period") to be applicable to such Revolving Loan, which Interest Period shall be either a period of one (1)one, two (2)two, three (3) or six (6) months with respect to each LIBOR Rate Loanmonth period; provided provided, that:
(i1) the initial Interest Period for any Revolving Loan shall commence on the date Funding Date of advance of or conversion to any LIBOR Rate Loan or and, such Revolving Loan;
(2) in the case of immediately successive Interest Periods, each successive Interest Period shall commence on the date day on which the next immediately preceding Interest Period expires;
(ii3) if any an Interest Period would otherwise expire on a day that expiration date 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 expiration date 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 immediately preceding Business Day;
(iii4) 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 shall, subject to part (5), below, end on the last Business Day of the relevant a calendar month at the end of such Interest Periodmonth;
(iv5) no Interest Period shall be permitted to extend beyond the Termination Date; and
(v6) there shall be no more than five three (53) Interest Periods relating to LIBOR Rate Loans outstanding at any time.
Appears in 1 contract
Samples: Loan and Security Agreement (Gradall Industries Inc)
Interest Periods. In connection with each LIBOR Rate Loan, the Original Borrower, by giving notice at the times described in Section 3.1(a)2.3 or 4.2, as applicable, shall elect an interest period (each, an "Interest Period") to be applicable to such Revolving Credit 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 Loanmonths; 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 immediately 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 immediately 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 Maturity Date; and
(v) there shall be no more than five eight (5) 8) Interest Periods outstanding in effect at any time.
Appears in 1 contract
Interest Periods. In connection with The Borrower may select for any Eurodollar Rate Loan the Interest Period (as defined in the next sentence) for each LIBOR Rate LoanBorrowing, it being understood that the Borrower, by giving notice at Borrower may request multiple Borrowings on the times described in Section 3.1(a), shall elect an interest period (each, an "same day and may select a different Interest Period") to be applicable to Period for each such Loan, which Borrowing. An Interest Period shall be each period, as selected by the Borrower in accordance with the terms of this Agreement, beginning on the Borrowing Date of any Eurodollar Rate Loan, or on the Conversion/Continuation Date on which any Loan is converted into or continued as a period of one (1)Eurodollar Rate Loan, two (2)and ending on the date specified by the Borrower that is one, two, three (3) or six (6) months with respect to each LIBOR Rate Loanthereafter; provided that:
(i) that whenever the first day of any Interest Period occurs on a day of an initial calendar month for which there is no numerically corresponding day in the calendar month that succeeds such initial calendar month by the number of months equal to the number of months in such Interest Period, such Interest Period shall commence end on the date last Business Day of advance such succeeding calendar month; and provided further that if the last day 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 an Interest Period would otherwise expire on be a day that is not a Business Day, such Interest Period shall expire on be extended to 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 unless such next succeeding Business Day but is in a day of the month after which no further Business Day occurs in such different calendar month, in which case such Interest Period interest period shall expire end on the next preceding Business Day;
; but provided, however, that (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;
(ivi) no Interest Period applicable to any Revolving Loan shall be permitted to extend beyond the Revolving Termination Date; and
and (vii) there no Interest Period applicable to any Term Loan shall extend beyond the Term Loan Maturity Date specified in the Borrowing Advice for such Term Loan, which in no event shall be no more later than five (June 5) Interest Periods outstanding at any time, 2015.
Appears in 1 contract
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a)2.2 or 3.2, as applicable, 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) 6 months with respect to each LIBOR Rate Loanor, if agreed by all of the relevant Lenders, 12 months; 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 immediately 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, 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 immediately 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 Term Loan Maturity Date, as applicable, and Interest Periods shall be selected by the Borrower so as to avoid payment of any amounts pursuant to Section 3.9; and
(v) there shall be no more than five (5) Interest Periods outstanding in effect at any time.
Appears in 1 contract
Interest Periods. In connection with The Borrower may select for any Eurodollar Rate Loan the Interest Period (as defined in the next sentence) for each LIBOR Rate LoanBorrowing, it being understood that the Borrower, by giving notice at Borrower may request multiple Borrowings on the times described in Section 3.1(a), shall elect an interest period (each, an "same day and may select a different Interest Period") to be applicable to Period for each such Loan, which Borrowing. An Interest Period shall be a period each period, as selected by the Borrower in accordance with the terms 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 andthis Agreement, in the case of immediately successive Interest Periodseach Borrowing, each successive Interest Period shall commence beginning on the Borrowing Date of such Loan or on the Conversion/Continuation Date on which the Loan is converted into or continued as a Eurodollar Rate Loan, and ending on the date on which specified by the next preceding Interest Period expires;
(ii) if Borrower, subject to the numerically corresponding day in the first, second, third or sixth month thereafter, in the case of any Interest Period that is to be based on the Eurodollar Rate, provided that if the last day of an Interest Period would otherwise expire on be a day that is not a Business Day, such Interest Period shall expire on be extended to 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 unless such next succeeding Business Day but is in a day of the month after which no further Business Day occurs in such different calendar month, in which case such Interest Period interest period shall expire end on the next preceding Business Day;
; provided, however, that (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;
(ivi) no Interest Period applicable to any Revolving Loan shall be permitted to extend beyond the Revolving Termination Date; and
and (vii) there no Interest Period applicable to any Term Loan shall extend beyond the Term Loan Maturity Date specified in the Borrowing Advice for such Term Loan, which in no event shall be no more later than five (5) Interest Periods outstanding at any time.June 19,
Appears in 1 contract
Interest Periods. In connection with each LIBOR Rate Loan, the ---------------- Borrower, by giving notice at the times described in Section 3.1(a4.1(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 months; provided, that until the completion of the syndication of the Credit -------- Facility on terms and conditions reasonably satisfactory to each LIBOR Rate Loanthe Agent, the Borrower shall only be permitted to select Interest Periods of one (1) month; provided further, 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 seven (57) Interest Periods outstanding at any time.
Appears in 1 contract
Samples: Credit Agreement (American Business Information Inc /De)
Interest Periods. In connection with each LIBOR Rate Loan6.1 Subject to Clause 6.2, 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 Periods applicable to such Loan, which Interest Period an Advance shall (subject to market availability) be periods of a period duration of one (1), two (2), three (3) or ), six (6) or twelve (12) months with respect (or such other periods as the Lender and the Borrowers may agree) as selected by the Borrowers by written notice to each LIBOR Rate Loan; provided thatbe received by the Lender not later than 11.00 a.m. (London time) on the relevant Nomination Date;
6.2 Notwithstanding the provisions of Clause 6.1:
(i) 6.2.1 the initial Interest Period in respect of the Loan shall commence on the Drawdown Date thereof and shall end on the expiry date of advance of or conversion to any LIBOR Rate Loan or and, in the case of immediately successive Interest Periods, thereof and each successive subsequent Interest Period for the Loan shall commence on the date on which expiry of the next preceding Interest Period expiresin respect thereof;
(ii) 6.2.2 if any Interest Period would otherwise expire end on a day that which is not a Business Day, such that Interest Period shall expire on be extended to 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 which is not a Business Day but is a day of the month after which no further unless such next succeeding Business Day occurs falls in such month, such another calendar month in which event the Interest Period shall expire on end upon the next immediately preceding Business Day;
(iii) 6.2.3 if any Interest Period with respect to a LIBOR Rate Loan that begins commences on the last Business Day of in a calendar month (or on a day for which if there is no numerically corresponding day in the calendar month at the end of such in which that Interest Period) Period ends, that Interest Period shall end on the last Business Day of the relevant calendar month at the end of such Interest Periodin that later month;
(iv) 6.2.4 no Interest Period shall be permitted to extend beyond the Termination Repayment Date;
6.2.5 if the Borrowers fail to select an Interest Period in accordance with the above, such Interest Period shall be of three (3) months duration or of such other duration as the Lender in its sole discretion may reasonably select and notify the Borrowers; and
(v) there 6.2.6 the Borrowers shall be no not select more than five one (51) Interest Periods outstanding Period in respect of the Loan at any one time.
Appears in 1 contract
Interest Periods. In connection with each LIBOR Rate LoanWhen Borrower requests any Eurodollar Borrowing, Borrower may elect the Borrower, by giving notice at the times described in Section 3.1(a), shall elect an interest period (each, each an "“Interest Period"”) to be applicable to such Loanthereto, which Interest Period shall be a period of be, at Borrower’s option, one (1), two (2), ) month or three (3) months, in each case to the extent available from each Lender (or six (6) months with respect other periods, if requested by Borrower and agreed to by each LIBOR Rate LoanLender); provided however, that:
: (ia) the initial Interest Period for a Eurodollar Borrowing shall commence on the date of advance such Borrowing (including the date of or conversion to any LIBOR Rate Loan or andConversion thereto), in the case of immediately successive Interest Periods, and each successive Interest Period occurring thereafter in respect of such Borrowing shall commence on the date day on which the next preceding Interest Period applicable thereto expires;
; (iib) if any Interest Period would otherwise expire on for 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 Eurodollar Borrowing begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, then such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period) Period shall end on the last Business Day of in the relevant calendar month at the end of such Interest Period;
); and (ivc) no Interest Period shall may be permitted chosen with respect to any portion of the Total Principal Debt which would extend beyond the Termination Date; and
(v) there shall be no more than five (5) Interest Periods outstanding at any time.
Appears in 1 contract
Samples: Exchange Agreement (Protection One Alarm Monitoring Inc)
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 The interest period (each, each an "Interest Period") to be applicable to such Loan, which Interest Period each LIBOR Rate Loan shall be a period of one (1)one, two (2), three (3) or six (6) months with respect to each LIBOR Rate Loanthree-month period; provided that:
(i) the initial Interest Period for any LIBOR Rate Loan shall commence on the date applicable Funding Date, in the case of advance of or conversion to any a Loan initially made as a LIBOR Rate Loan, or on the date specified in the applicable Notice of Continuation, in the case of a Loan or and, converted to a LIBOR Rate Loan;
(ii) in the case of immediately successive Interest PeriodsPeriods applicable to a LIBOR Rate Loan continued as such pursuant to a Notice of Continuation, each successive Interest Period shall commence on the date day on which the next preceding Interest Period expires;
(iiiii) if any an 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; providedprovided that, 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;
(iiiiv) 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 shall, subject to clause (v) of this subsection 2.2B, end on the last Business Day of the relevant a calendar month at the end of such Interest Periodmonth;
(ivv) no Interest Period with respect to any portion of the Loans shall be permitted to extend beyond the Termination Maturity Date; and
(vvi) there shall be no more than five three (53) Interest Periods outstanding at any time.
Appears in 1 contract
Samples: Credit Agreement (Apollo Real Estate Investment Fund Ii L P)
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a)2.3 or 4.2, as applicable, shall elect an interest period (each, an "“Interest Period"”) to be applicable to such Revolving Credit 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 Loanmonths; 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 immediately 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 immediately 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 Maturity Date; and
(v) there shall be no more than five eight (5) 8) Interest Periods outstanding in effect at any time.
Appears in 1 contract
Samples: Credit Agreement (Bowater Inc)
Interest Periods. In connection with each a LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a), shall elect an interest period (each, each an "Interest PeriodINTEREST PERIOD") to be applicable to such Loan, which Interest Period the Loans shall be a period of one (1), two (2), three (3) 3 or six (6) months with respect to each LIBOR Rate Loan6 month period, as selected by Borrower; provided 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 PeriodsPeriods applicable to a LIBOR Rate Loan continued as such pursuant to a Notice of Conversion/Continuation, each successive Interest Period shall commence on the date day on which the next preceding Interest Period expires;
(ii) if any an 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 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 shall, subject to clause (v) of this subsection 2.2(b), end on the last Business Day of the relevant a calendar month at the end of such Interest Period;month; and
(iv) no Interest Period with respect to any portion of the Loans 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.
Appears in 1 contract
Interest Periods. In connection with the making or continuation of, or conversion into, each LIBOR Rate LoanBorrowing of Loans comprised of Eurodollar Advances, the Borrower, by giving notice at the times described in Section 3.1(a), Borrower shall elect select an interest period (each, each an "Interest Period") to be applicable to such LoanEurodollar Advances, which Interest Period shall be either a period of one (1), two (2), three (3) 1 or six (6) months with respect to each LIBOR Rate Loan2 month period; provided that:
(i) the The initial Interest Period for any Borrowing of Eurodollar Advances shall commence on the date of advance such Borrowing (including the date of or any conversion to any LIBOR Rate Loan or and, in the case from a Borrowing consisting of immediately successive Interest Periods, Advances of another Type) and each successive Interest Period occurring thereafter in respect of such Borrowing shall commence on the date day on which the next preceding Interest Period expires;
; (ii) if If any Interest Period would otherwise expire on a day that which is not a Business Day, such Interest Period shall expire on the next succeeding Business Day; provided, provided that if any Interest Period with in respect to a LIBOR Rate Loan of Eurodollar Advances 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;
; and (iii) any Any Interest Period with in respect to a LIBOR Rate Loan that of Eurodollar Advances which 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 PeriodPeriod shall, subject to part (iv) shall end below, expire on the last Business Day of the relevant such 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 timemonth.
Appears in 1 contract
Interest Periods. In connection with each LIBOR Rate Loan, the U.S. Borrower, on behalf of the Applicable Borrower, by giving notice at the times described in Section 3.1(a)2.3 or 4.2, as applicable, 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 Loanmonths; 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 immediately 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 immediately 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 Maturity Date, without payment of any amounts pursuant to Section 4.9; and
(v) there shall be no more than five eight (5) 8) Interest Periods outstanding in effect at any time.
Appears in 1 contract
Samples: Credit Agreement (Owens Corning)
Interest Periods. In connection with each LIBOR Rate Loan, the BorrowerBorrowers, by giving notice at the times described in Section 3.1(a2.3(a) or Section 5.1(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 immediately 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 immediately 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 Revolving Credit Termination Date or the Term Loan Termination Date, as applicable; and
(v) there shall be no more than five ten (510) Interest Periods outstanding in effect at any time.
Appears in 1 contract
Samples: Credit Agreement (Belk Inc)
Interest Periods. In connection with The Borrower may select for any Eurodollar Rate Loan the Interest Period (as defined in the next sentence) for each LIBOR Rate LoanBorrowing, it being understood that the Borrower, by giving notice at Borrower may request multiple Borrowings on the times described in Section 3.1(a), shall elect an interest period (each, an "same day and may select a different Interest Period") to be applicable to Period for each such Loan, which Borrowing. An Interest Period shall be each period, as selected by the Borrower in accordance with the terms of this Agreement, beginning on the Borrowing Date of any Eurodollar Rate Loan, or on the Conversion/Continuation Date on which any Loan is converted into or continued as a period of one (1)Eurodollar Rate Loan, two (2)and ending on the date specified by the Borrower that is one, two, three (3) or six (6) months with respect to each LIBOR Rate Loanthereafter; provided that:
(i) that whenever the first day of any Interest Period occurs on a day of an initial calendar month for which there is no numerically corresponding day in the calendar month that succeeds such initial calendar month by the number of months equal to the number of months in such Interest Period, such Interest Period shall commence end on the date last Business Day of advance such succeeding calendar month; and provided further that if the last day 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 an Interest Period would otherwise expire on be a day that is not a Business Day, such Interest Period shall expire on be extended to 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 unless such next succeeding Business Day but is in a day of the month after which no further Business Day occurs in such different calendar month, in which case such Interest Period interest period shall expire end on the next preceding Business Day;
; but provided, however, that (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;
(ivi) no Interest Period applicable to any Revolving Loan shall be permitted to extend beyond the Revolving Termination Date; and
and (vii) there no Interest Period applicable to any Term Loan shall extend beyond the Term Loan Maturity Date specified in the Borrowing Advice for such Term Loan, which in no event shall be no more later than five (5) Interest Periods outstanding at any timeJune 7, 2013.
Appears in 1 contract
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 LoanLoan shall be, which (x) from the Initial Borrowing Date until the earlier to occur of (1) the 60th day after the Initial Borrowing Date and (2) the Syndication Date, one month, and (y) immediately after the completion of any one-month Interest Period shall be a period following the earlier of one (1), two (2)the dates described above, three (3) or six (6) months with respect to each LIBOR Rate Loan; months, provided that:
(i) the initial Interest Period for each Loan 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, Initial Borrowing Date;
(ii) each successive Interest Period shall commence on the date day on which the next preceding Interest Period expires;
(iiiii) if any an 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; providedprovided that, 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;
(iiiiv) 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 shall, subject to clause (v) of this subsection 2.2B, end on the last Business Day of the relevant a calendar month at the end of such Interest Periodmonth;
(ivv) no Interest Period shall be permitted to extend beyond the Termination Final Maturity Date; and;
(vvi) no Interest Period shall extend beyond a date on which Borrower is required to make a scheduled payment of principal of the Loans;
(vii) there shall be no more than five (5) one Interest Periods outstanding Period at any time.
Appears in 1 contract
Samples: Credit Agreement (Atlas Air Inc)
Interest Periods. In connection with each LIBOR Rate Loan6.1 Subject to Clause 6.2, 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 Periods applicable to such Loan, which Interest Period an Advance shall (subject to market availability) be periods of a period duration of one (1), two (2), three (3) or ), six (6) or twelve (12) months with respect (or such other periods as the Lender and the Borrower may agree) as selected by the Borrower by written notice to each LIBOR Rate Loan; provided thatbe received by the Lender not later than 11.00 a.m. (London time) on the relevant Nomination Date;
6.2 Notwithstanding the provisions of Clause 6.1:
(i) 6.2.1 the initial Interest Period in respect of each Advance shall commence on the Drawdown Date thereof and shall end on the expiry date of advance of or conversion to any LIBOR Rate Loan or and, in the case of immediately successive Interest Periods, thereof and each successive subsequent Interest Period for that Advance shall commence on the date on which expiry of the next preceding Interest Period expiresin respect thereof;
(ii) 6.2.2 if any Interest Period would otherwise expire end on a day that which is not a Business Day, such that Interest Period shall expire on be extended to 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 which is not a Business Day but is a day of the month after which no further unless such next succeeding Business Day occurs falls in such month, such another calendar month in which event the Interest Period shall expire on end upon the next immediately preceding Business Day;
(iii) 6.2.3 if any Interest Period with respect to a LIBOR Rate Loan that begins commences on the last Business Day of in a calendar month (or on a day for which if there is no numerically corresponding day in the calendar month at the end of such in which that Interest Period) Period ends, that Interest Period shall end on the last Business Day of the relevant calendar month at the end of such Interest Periodin that later month;
(iv) 6.2.4 no Interest Period shall be permitted to extend beyond the Termination Repayment Date;
6.2.5 if the Borrower fails to select an Interest Period in accordance with the above, such Interest Period shall be of three (3) months duration or of such other duration as the Lender in its sole discretion may reasonably select and notify the Borrower; and
(v) there 6.2.6 the Borrower shall be no not select more than five one (51) Interest Periods outstanding Period in respect of the Loan or any part thereof at any one time.
Appears in 1 contract
Interest Periods. In connection with the making or continuation of, or conversion into, each Borrowing of LIBOR Rate LoanLoans, the Borrower, by giving notice at the times described in Section 3.1(a), Borrowers shall elect select an interest period (each, each an "“Interest Period"”) to be applicable to such LIBOR Loan, which Interest Period interest period shall be commence on the date such LIBOR Loan is made and shall end on a period of one (1)numerically corresponding day in the first, two (2)second, three (3) third or six (6) months with respect to each LIBOR Rate Loansixth month thereafter; provided provided, however, that:
(i) the initial Interest Period for a LIBOR Loan shall commence on the date of advance such Borrowing (including the date of or any conversion to any LIBOR Rate from a Revolver Loan or and, in the case of immediately successive Interest Periods, another Type) and each successive Interest Period occurring thereafter in respect of such Revolver Loan 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 provided that, if any Interest Period with in respect to a of LIBOR Rate Loan Loans 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) Period shall end expire on the last Business Day of the relevant such calendar month at the end of such Interest Period;
(iv) no Interest Period shall be permitted to extend beyond the Termination Datemonth; and
(v) there shall be no more than five (5) Interest Periods outstanding at any time.
Appears in 1 contract
Samples: Loan and Security Agreement (Artesyn Technologies Inc)
Interest Periods. In connection with each LIBOR Rate Loan and CD Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a5.1(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), nine (9) or twelve (12) months with respect to each LIBOR Rate Loan and thirty (30), sixty (60), ninety (90), one hundred-eighty (180), two hundred-seventy (270) or three hundred-sixty (360) days with respect to each CD Rate Loan; provided PROVIDED that:
(i) the Interest Period shall commence on the date of advance of or conversion to any LIBOR Rate Loan or CD Rate Loan 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; providedPROVIDED, 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.
Appears in 1 contract
Samples: Revolving Credit Loan Agreement (Marshall Industries)
Interest Periods. In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a)2.3 or 4.2, as applicable, 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 Loanor, if agreed by all of the Lenders, nine (9) or twelve (12) months; 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 immediately 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 immediately 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 Maturity Date; and
(v) there shall be no more than five ten (510) Interest Periods outstanding in effect at any time.
Appears in 1 contract
Samples: Credit Agreement (Lmi Aerospace Inc)
