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 (Insignia Properties Trust /), 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: Credit Agreement (Mariner Post Acute Network Inc), Term Loan Facility (Mariner Post Acute Network Inc), Credit Agreement (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 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 (AbitibiBowater 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: Credit Agreement (Assurant Inc), Term Loan Agreement (Assurant Inc), Credit Agreement (Assurant 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), 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 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 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 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 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 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 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 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 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 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 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 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 At any time when the Borrower shall select, convert to or renew a Euro-Rate LoanOption, the Borrower, by giving notice Borrower shall notify the Agent thereof 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), least three (3) Business Days prior to the effective date of such Euro-Rate Option by delivering a Loan Request. The notice shall specify an interest period during which such Interest Rate Option shall apply, such periods to be one, two, three or six months in the event of a Euro-Rate Option (6) months with respect to each LIBOR "Euro-Rate Loan; provided Interest Period"), provided, that:
(ia) the any Euro-Rate 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 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 Euro-Rate Interest Period shall expire end on the next preceding Business Day;
(iiib) any Euro-Rate 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 during which such Euro-Rate Interest Period is to end of such Interest Period) shall end on the last Business Day of the relevant calendar month at the end of such Interest Periodsubsequent month;
(ivc) no the Revolving Credit Euro-Rate Portion for each Euro-Rate Interest Period shall be permitted in integral multiples of $500,000 and not less than $5,000,000;
(d) the Borrower shall not select, convert to extend beyond or renew a Euro-Rate Interest Period 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 a Euro-Rate Interest Period, the first day of the new Euro-Rate Interest Period shall be no more than five (5) the last day of the preceding Euro-Rate Interest Periods outstanding at any timePeriod, without duplication in payment of interest for such day.
Appears in 3 contracts
Samples: Credit Agreement (Mariner Health Group Inc), Credit Agreement (Mariner Health Group Inc), Credit Agreement (Mariner Health Group 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 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 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 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 six (56) Interest Periods outstanding in effect at any time.
Appears in 3 contracts
Samples: Credit Agreement (DRS Technologies Inc), Credit Agreement (Paravant Inc), Credit Agreement (Paravant 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 (Insight Health Services Holdings Corp), Loan and Security Agreement (Enpro Industries, 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 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, 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 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 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 (Danka Business Systems PLC), Loan and Security Agreement (Tropical Sportswear International Corp)
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 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 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 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, 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 the Borrower shall use reasonable efforts to select Interest Periods which will 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 (Jack in the Box Inc /New/), Credit Agreement (Jack in the Box Inc /New/)
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(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 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 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), 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), 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, (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(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 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, 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. 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)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 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 The initial and 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 subsequent Interest Period for Eurodollar Rate Loans shall be a period of one (1)one, two (2)two, three (3) or six (6) months with respect months. The determination of Interest Periods shall be subject to each LIBOR Rate Loan; provided thatthe following provisions:
(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 day on which the next preceding Interest Period expires;
(iiB) if any Interest Period pertaining to an Eurodollar Rate Loan 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 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 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;
(iiiC) no Interest Period shall extend beyond (1) the Revolving Termination Date with respect to any Revolving Loan, and (2) the Term Loan Maturity Date with respect to any Term Loan;
(D) any Interest Period with respect pertaining 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 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
(vE) there shall be no more than five (5) ten Interest Periods outstanding in effect at any one time.
Appears in 2 contracts
Samples: Credit Agreement (Cadence Design Systems Inc), 364 Day Credit Agreement (Cadence Design Systems 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 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), Borrower shall elect an interest period (each, each an "Interest PeriodINTEREST 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 Loanmonth 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
(v) there shall be no more than five (5) Interest Periods outstanding at any time.
Appears in 2 contracts
Samples: Loan and Security Agreement (Spincycle Inc), Loan and Security Agreement (Spincycle 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)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 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)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(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, 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 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 (a) At the time the Borrower gives a Notice of Borrowing or Notice of Continuation in respect of the making of, or continuation as, a Borrowing in accordance with each LIBOR Rate LoanSection 2.6(a), the Borrower, by giving Borrower shall give the Administrative Agent written notice at (or telephonic notice promptly confirmed in writing) of the times described in Section 3.1(a), shall elect an interest period (each, an "Interest Period") to be Period applicable to such LoanBorrowing, which Interest Period shall shall, at the option of the Borrower be a period of one one-, two-, three- or six-month period.
(1), two (2), three (3b) or six (6) months with respect Notwithstanding anything to each LIBOR Rate Loan; provided thatthe contrary contained above:
(i) the initial Interest Period for any 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, 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;
(ii) if any Interest Period relating to a Borrowing 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;
(iii) 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 in respect to of a LIBOR Rate Loan 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) shall end on the last Business Day of the relevant calendar month at the end of such Interest Period;; and
(iv) no the Borrower shall not be entitled to elect any Interest Period shall be permitted to in respect of any Loan if such Interest Period would extend beyond the Termination Maturity Date; and
(v) there shall be no more than five (5) Interest Periods outstanding at any time.
Appears in 2 contracts
Samples: Credit Agreement (Mach Natural Resources Lp), Credit Agreement (Mach Natural Resources Lp)
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 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 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 (Bowater Inc), Credit Agreement (AbitibiBowater 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), 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, 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 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: Credit Agreement (Bowater Inc), Eighth Amendment and Waiver (AbitibiBowater 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 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 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 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 the "Interest PeriodINTEREST 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 Loanone-month period; provided that:
(i) the each 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, or on the date specified in the applicable Notice of Conversion/Continuation, in the case of a Loan converted to a Eurodollar Rate Loan, provided that the initial Interest Period shall commence on the Closing Date, and the Company shall pay any breakage amounts pursuant to Section 2.6D in connection with the termination of any Interest Period under the Existing Credit Agreement;
(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 shall, subject to clause (iv) of this subsection 2.2B, 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 shall be permitted to extend beyond the scheduled 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 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 for any Loan shall commence on the date of advance of or conversion to any LIBOR Rate Loan or and, such Loan;
(ii) 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;
(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; provided, provided that if any Interest Period with in respect to of -------- 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;
(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 part (v) below, 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 Loan shall be permitted to extend beyond the Termination Maturity Date;
(vi) the Interest Period for a Loan that is converted pursuant to subsection 2.6D shall commence on the date of such conversion and shall expire on the date on which the Interest Period for the Loans of the other Lenders that were not converted expires; and
(vvii) there shall be outstanding at any time no more than five fifteen (515) Interest Periods outstanding at any timerelating to Eurodollar Rate Loans.
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)2.3 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
(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 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 DateDate and no interest period shall be selected by the Borrower which would result in the repayment of any LIBOR Rate Loan pursuant to Section 2.3 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 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 Loan shall be a period of one (1)three months; provided, two (2), three (3) or six (6) months with respect to each LIBOR Rate Loan; provided that:
(i) prior to the earlier of July 25, 2000, and the Syndication Date, the Interest Period for each Loan shall be one month, and the first such 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, Initial Borrowing Date;
(ii) each successive Interest Period shall be three months and 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; 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;
(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 DateFinal Maturity Date for the applicable tranche of Loans;
(vi) no Interest Period shall extend beyond a date on which the Borrower is required to make a scheduled payment of principal of the Loans of the same tranche as such Loan; and
(vvii) 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 Loan, 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 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 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 Loanmonth 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;
(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 available, unused Revolving Loan Commitment or Borrowing Base 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 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 Rate Loan, which Interest Period interest period shall be a period of one (1), two (2), three (3) or six (6) months with respect to each commence on the date such LIBOR Rate LoanLoan is made and shall end on a numerically corresponding day in the first, second or third month thereafter; provided provided, however, that:
(i) the initial Interest Period for a LIBOR Rate 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 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 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 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) 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 a Loan shall be permitted extend beyond a date on which Borrower is required to make a scheduled payment of such portion of principal;
(v) no Interest Period shall extend beyond the Termination Datelast day of the Term; and
(vvi) there shall be no more than five (5) 5 Interest Periods outstanding in effect at any one 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(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 1 contract
Samples: Credit Agreement (O Charleys Inc)
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 Revolving 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 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)two, three (3) or six (6) months with respect to each LIBOR Rate Loanmonths; provided provided, however, that:
(ia) the Interest Period shall commence 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 of immediately successive Interest Periods, each successive Interest Period shall commence on the date on which the next preceding Interest Period expirescalendar month at its end;
(iib) if any Interest Period commences 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 expire on the 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;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 no six month Interest Period may be established for a LIBOR Term Loan; and no more than five (5) Interest Periods outstanding at 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 timescheduled principal payment on Term Loans.
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 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 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 each LIBOR Rate Term Benchmark 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) i. the Interest Period shall commence on the date of advance of or conversion to or continuation of any LIBOR Rate Term Benchmark 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 Term Benchmark 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 Term Benchmark 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) 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 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 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 1 contract
Interest Periods. In connection with each LIBOR Rate BSBY 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 BSBY 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 BSBY 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 BSBY 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 Initial Term Loan Maturity Date, as applicable; and
(v) there shall be no more than five twelve (512) Interest Periods outstanding in effect at any time.
Appears in 1 contract
Samples: Credit Agreement (CoreCivic, 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 12, 2009.
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, an "Interest Period") to be applicable to such Loan; PROVIDED, which Interest Period shall be a period of one (1)HOWEVER, two (2), three (3) or six (6) months with respect to each LIBOR Rate Loan; provided 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 extend beyond a date on which Borrower is required to make a scheduled payment of such portion of principal;
(v) no Interest Period shall extend beyond the Termination Date; andlast day of the Original Term;
(vvi) there shall be no more than five (5) 8 Interest Periods outstanding in effect at any one time and in no event shall there be more than 1 Interest Period of 7 days in effect at any one time.; and
Appears in 1 contract
Samples: Loan and Security Agreement (Metromedia International Group Inc)
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 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 Interest Periods shall be selected by the Borrower so as to permit the Borrower to make mandatory reductions of the Aggregate Commitment pursuant to Section 2.6(b) 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 at any time.
Appears in 1 contract
Samples: Credit Agreement (Rare Hospitality International 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 interest shall accrue at the applicable rate based upon the LIBOR Rate from and including the first day of each Interest Period to, but excluding, the day on which 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 expires,
(iii) any Interest Period with respect to a LIBOR Rate Loan that 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 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; and
(vvi) there shall be no more than five six (56) Interest Periods outstanding in effect at any time.
Appears in 1 contract
Samples: Credit Agreement (La-Z-Boy Inc)
Interest Periods. In connection with each LIBOR Rate Loan, PZN 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), ) 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 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 Termination Date; and
(v) there shall be no more than five seven (57) 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 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) 2 or six (6) months with respect to each LIBOR Rate Loan3 month period; provided that:
(ia) 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 from a Borrowing consisting of Base Rate Loan or and, in the case of immediately successive Interest Periods, Advances) 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 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;
(iiic) any 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 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 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 timeTerm Loans.
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)2.3, 2.8 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 Date; and
(viv) 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 (Transaction Systems Architects Inc)
Interest Periods. In connection with each Foreign Currency Loan and LIBOR Rate Loan, the BorrowerCompany, on behalf of the Co-Borrowers, 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)one, two (2)two, 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 Foreign Currency Loan or 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 that, with respect to any Foreign Currency Loan or LIBOR Rate Loan, 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) with respect to any Foreign Currency Loan or LIBOR Rate Loan, 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 for Revolver Loans shall be permitted to extend beyond the Revolver Facility Termination Date; and;
(v) there shall be no more than five eight Types of LIBOR Rate Loans (5including Foreign Currency Loans) Interest Periods outstanding at any time; for purposes of this provision, a "Type" of Loan shall refer to Loans with Interest Periods beginning and ending on the same date;
(vi) such right of election is subject to Section 3.1(e)(i); and
(vii) no Interest Period of six months shall be available for Foreign Currency Loans.
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)2.3 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 or, if funding for such period is available to each LIBOR Rate Loanall Lenders at a rate acceptable to such Lenders in their sole discretion, 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 LIBOR Rate Loans in effect at any time.
Appears in 1 contract
Samples: Credit Agreement (Medimmune Inc /De)