Common use of Method of Electing Interest Periods Clause in Contracts

Method of Electing Interest Periods. (a) The initial Interest Period for each Borrowing shall be as specified in the relevant Borrowing Request. Thereafter, the Borrower may from time to time, subject to Section 2.11 and Section 2.12, elect the duration of the Interest Period or Interest Periods applicable to the Loans (subject in each case to the definition of Interest Period and Section 2.11 and Section 2.12). Each such election of an Interest Period shall be made by delivering a written notice in a form approved by the Administrative Agent and signed by the Borrower (a “Notice of Interest Period Election”) to the Administrative Agent not later than 12:00 p.m., Santiago, Chile time, on the third Business Day before such election is to be effective. If a new Interest Period is elected, the Borrower will execute and deliver to the Administrative Agent, for each Lender, allonges (hojas de prolongación) to the Notes substantially in the form of Exhibit J hereto, in which the signature of the authorized representative of the Borrower has been duly authorized by a notary public in Chile, no later than the day on which the new Interest Period becomes effective. If no such notice is timely received prior to the end of an Interest Period, the Borrower shall be deemed to have elected that all Loans having such Interest Period be continued as Loans with an Interest Period equal in length to the Interest Period then ending (in each case subject to the definition of Interest Period). (b) Each Notice of Interest Period Election shall specify: (i) The Borrowing of Loans to which such notice applies; (ii) the date on which the election specified in such notice is to become effective, which shall comply with the applicable clause of subsection (a) above; and (iii) the duration of the new Interest Period. Each Interest Period specified in a Notice of Interest Period Election shall comply with the provisions of the definition of Interest Period. (c) Promptly after receiving a Notice of Interest Period Election from the Borrower pursuant to Section 2.05(a) above, the Administrative Agent shall notify each Lender of the contents thereof and such Lender’s portion of each resulting Borrowing, and such notice shall not thereafter be revocable by the Borrower.

Method of Electing Interest Periods. (a) The Issuer shall elect the initial Interest Period for each Borrowing to be applicable to all the Loans commencing on the Interest Commencement Date and thereafter shall elect additional Interest Periods effective on the last day of the then current Interest Period; provided that if the Interest Commencement Date is the date described in clause (b) of the definition thereof, the Issuer shall be as specified in the relevant Borrowing Request. Thereafter, the Borrower may from time deemed to time, subject to Section 2.11 and Section 2.12, elect the duration have delivered a Notice of Interest Rate Election electing an initial Interest Period of one month for the Interest Period or commencing on the Interest Periods applicable to the Loans (subject in each case to the definition of Interest Period and Section 2.11 and Section 2.12)Commencement Date. Each such election of an Interest Period shall be made by delivering a written notice in a form approved by the Administrative Agent and signed by the Borrower (a “a) "Notice of Interest Period Rate Election”") to the Administrative Agent not later than 12:00 p.m., Santiago, Chile time, Noon (Eastern Time) on the third Euro- Dollar Business Day before the election selected in such election notice is to be effective. If a new Interest Period is elected, the Borrower will execute and deliver to the Administrative Agent, for each Lender, allonges (hojas de prolongación) to the Notes substantially in the form of Exhibit J hereto, in which the signature of the authorized representative of the Borrower has been duly authorized by a notary public in Chile, no later than the day on which the new Interest Period becomes effective. If no such notice is timely received prior to the end of an Interest Period, the Borrower shall be deemed to have elected that all Loans having such Interest Period be continued as Loans with an Interest Period equal in length to the Interest Period then ending (in each case subject to the definition of Interest Period). (b) Each Notice of Interest Period Rate Election shall specify: (i) The Borrowing of Loans to the date upon which such notice applies;election is to be effective; and (ii) the date on which the election specified in such notice is to become effective, which shall comply with the applicable clause of subsection (a) above; and (iii) the duration of the new such initial or additional Interest Period. Each Interest Period specified in a Notice of Interest Period Rate Election shall comply with the provisions of the definition of Interest Period. (c) Promptly after receiving Upon receipt of a Notice of Interest Period Rate Election from the Borrower Issuer pursuant to Section 2.05(a) above2.03(a), the Administrative Agent shall promptly notify each Lender of the contents thereof and such Lender’s portion of each resulting Borrowing, and such notice shall not thereafter be revocable by the BorrowerIssuer. If the Issuer fails to deliver a timely Notice of Interest Rate Election to the Administrative Agent or if any Notice of Interest Rate Election does not specify an Interest Period, then the Issuer shall be deemed to have selected an Interest Period of one month.

Method of Electing Interest Periods. (a) The initial Interest Period for Loans included in each Borrowing shall be as specified by the Borrower in the relevant Borrowing Requestapplicable Notice of Borrowing. Thereafter, the Borrower may from time to time, subject to Section 2.11 and Section 2.12, time elect the duration of the each subsequent Interest Period or Interest Periods applicable to the Loans (subject thereto in each case to the definition of Interest Period and accordance with this Section 2.11 and Section 2.12)2.14. Each such election of an Interest Period shall be made by delivering a written notice in a form approved by the Administrative Agent and signed by the Borrower (a “Notice of Interest Period Election”) to the Administrative Agent not later than 12:00 p.m., Santiago, Chile time, on the third Business Day before such election is to be effectiveSpecified Time. If a new A Notice of Interest Period is electedElection may, the Borrower will execute and deliver if it so specifies, apply to the Administrative Agent, for each Lender, allonges (hojas de prolongación) to the Notes substantially in the form of Exhibit J hereto, in which the signature only a portion of the authorized representative aggregate principal amount of the Borrower has been duly authorized by a notary public relevant Group of Loans; provided that (i) such portion is allocated ratably among the Loans comprising such Group and (ii) the portion to which such Notice applies, and the remaining portion to which it does not apply, are each at least in Chile, no later than the day on which the new Interest Period becomes effectiveApproved Amounts. If no such notice is timely received prior to before the end of an Interest PeriodPeriod for any Group of Loans, the Borrower shall be deemed to have elected that all such Group of Loans having be continued at the end of such Interest Period be continued as Loans with an additional Interest Period equal in length to the Interest Period then ending (in each case subject to the definition of Interest Period)one month. (b) Each Notice of Interest Period Election shall specify: (i) The Borrowing the Group of Loans (or portion thereof) to which such notice applies;; and (ii) the date on which the election specified in such notice is to become effective, which shall comply with the applicable clause of subsection (a) above; and (iii) the duration of the new additional Interest PeriodPeriod applicable thereto. Each Interest Period specified in a Notice of Interest Period Election shall comply with the provisions of the definition of Interest Period. (c) Promptly after receiving a Notice of Interest Period Election from the Borrower pursuant to Section 2.05(a) above2.14(a), the Administrative Agent shall notify each Lender of the contents thereof and such Lender’s portion of each resulting Borrowing, and such notice shall not thereafter be revocable by the Borrower.

Method of Electing Interest Periods. (a) The initial Advances included in each Borrowing (other than a Swingline Loan) initially shall have the Interest Period for each Borrowing shall be as specified by the Applicable Borrower in the relevant Borrowing Requestapplicable Notice of Borrowing. Thereafter, the Applicable Borrower may from time to time, subject time elect to Section 2.11 and Section 2.12, elect continue such Borrowing for a new Interest Period effective on the duration last day of the then current Interest Period or Interest Periods applicable to such Borrowing. In no event shall any Borrower have the Loans (subject option to convert the Agreed Currency in each case which a Borrowing is denominated to the definition of Interest Period another Agreed Currency; provided that any Borrower may repay such a Borrowing and Section 2.11 and Section 2.12)reborrow in another Agreed Currency in accordance with this Agreement. Each such election of an Interest Period by the Applicable Borrower to continue Advances shall be made by delivering a written notice in a form approved by the Administrative Agent and signed by the Borrower (a “Notice of Interest Period Election”) to the Administrative Agent by not later than 12:00 p.m., Santiago, Chile 10:00 a.m. (London time, on ) at least three Business Days before the third Business Day before continuation selected in such election notice is to be effective. If the Applicable Borrower shall fail to issue a new Notice of Interest Period is elected, the Borrower will execute and deliver to the Administrative Agent, for each Lender, allonges (hojas de prolongación) to the Notes substantially in the form of Exhibit J hereto, in which the signature of the authorized representative of the Borrower has been duly authorized by a notary public in Chile, no later than the day on which the new Interest Period becomes effective. If no such notice is timely received Election within three Business Days prior to the end of an any Interest PeriodPeriod (unless the Applicable Borrower shall have issued a notice of prepayment in respect of the applicable Borrowing in accordance with Section 5.12), the Borrower Advances comprising such Borrowing shall be deemed to have elected that all Loans having such Interest Period be continued as Loans an Advance in the same Agreed Currency with an Interest Period equal in length to the of one month. A Notice of Interest Period then ending Election may, if it so specifies, apply to only a portion of the aggregate principal amount of the relevant Borrowing; provided that (in each case subject i) such portion is allocated ratably among the Advances comprising such Borrowing and (ii) the portion to the definition which such Notice of Interest Period)Period Election applies, and the remaining portion to which it does not apply, are each a Euro Amount not less than €10,000,000 and an integral multiple of 5,000,000 units of the applicable currency. (b) Each Notice of Interest Period Election shall be substantially in the form of Exhibit 2.03 hereto and shall specify: (i) The the Borrowing of Loans (or portion thereof) to which such notice applies; (ii) the date on which the election specified continuation selected in such notice is to become be effective, which shall comply with the applicable clause of subsection (a) above; and (iii) the duration of the new Interest Period. Each Interest Period specified in a Notice of Interest Period Election shall comply with the provisions of the definition of Interest Period. Each Notice of Interest Period Election shall be irrevocable when given by the Applicable Borrower. (c) Promptly after receiving Upon receipt of a Notice of Interest Period Election from the Applicable Borrower pursuant to Section 2.05(asubsection (a) above, the Administrative Agent shall promptly notify each Lender Bank of the contents thereof and such Lender’s portion of each resulting Borrowing, and such notice shall not thereafter be revocable by the Borrowerthereof.

Method of Electing Interest Periods. (a) The initial Interest Period for Advances included in each Borrowing shall be bear interest initially at the Eurocurrency Rate as specified by the Borrower in the relevant Borrowing Requestapplicable Notice of Borrowing. Thereafter, the Borrower may from time to time, subject time elect to Section 2.11 and Section 2.12, elect the duration of change or continue the Interest Period or Interest Periods applicable to the Loans for each Borrowing (subject in each case to the definition provisions of Article III), in each case effective on the last day of the then current Interest Period applicable to such Advances. In no event shall the Borrower have the option to convert the Agreed Currency in which a Borrowing is denominated to another Agreed Currency; provided, that the Borrower may repay such Borrowing and Section 2.11 and Section 2.12)reborrow in another Agreed Currency in accordance with this Agreement. Each such election of an Interest Period shall be made by delivering a written notice in a form approved by the Administrative Agent and signed by the Borrower (a “Notice of Interest Period Election”) to the Administrative Agent by not later than 12:00 p.m., Santiago, Chile 10:00 a.m. (London time, on ) at least three Business Days before the third Business Day before conversion or continuation selected in such election notice is to be effective. If the Borrower shall fail to issue a new Notice of Interest Period is elected, the Borrower will execute and deliver to the Administrative Agent, for each Lender, allonges (hojas de prolongación) to the Notes substantially in the form of Exhibit J hereto, in which the signature of the authorized representative of the Borrower has been duly authorized by a notary public in Chile, no later than the day on which the new Interest Period becomes effective. If no such notice is timely received Election within three Business Days prior to the end of an any Interest Period, Period (unless the Borrower shall be deemed to have elected that all Loans having issued a notice of prepayment in respect of the applicable Borrowing in accordance with Section 5.12), the Advances comprising such Interest Period Borrowing shall be continued as Loans an Advance in the same Agreed Currency with an Interest Period equal in length to the of one month. A Notice of Interest Period then ending Election may, if it so specifies, apply to only a portion of the aggregate principal amount of the relevant Borrowing; provided that (in each case subject i) such portion is allocated ratably among the Advances comprising such Borrowing and (ii) the portion to the definition which such Notice of Interest PeriodPeriod Election applies, and the remaining portion to which it does not apply, are each 10,000,000 Euro or any larger multiple of 5,000,000 Euro (or the Approximate Equivalent Amounts if such Advances are denominated in Agreed Currencies other than in Euro). (b) Each Notice of Interest Period Election shall be substantially in the form of Exhibit 2.03 hereto and shall specify: (i) The the Borrowing of Loans (or portion thereof) to which such notice applies; (ii) the date on which the election specified continuation selected in such notice is to become be effective, which shall comply with the applicable clause of subsection (a) above; and (iii) the duration of the new Interest Period. Each Interest Period specified in a Notice of Interest Period Election shall comply with the provisions of the definition of Interest Period. Each Notice of Interest Period Election shall be irrevocable when given by the Borrower. (c) Promptly after receiving Upon receipt of a Notice of Interest Period Election from the Borrower pursuant to Section 2.05(asubsection (a) above, the Administrative Agent shall promptly notify each Lender Bank of the contents thereof and such Lender’s portion of each resulting Borrowing, and such notice shall not thereafter be revocable by the Borrowerthereof.