No Interest Periods Beyond the Expiration Date. Borrower shall not select or renew an Interest Period for any Base Rate Borrowing Tranche that would end after the Expiration Date. If at the time of any such selection or renewal the period of time remaining prior to the Expiration Date is less than thirty (30) days then such Borrowing Tranche shall bear interest at the Prime Rate. No Prime Rate Borrowing Tranche may remain outstanding in excess of thirty (30) days at any one time.
Appears in 7 contracts
Samples: Credit Agreement (Steadfast Apartment REIT, Inc.), Credit Agreement (Mid America Apartment Communities Inc), Credit Agreement (Behringer Harvard Multifamily Reit I Inc)
No Interest Periods Beyond the Expiration Date. Borrower shall not select or renew an Interest Period for any Base Rate Borrowing Advance Tranche that would end after the Expiration Date. If at the time of any such selection or renewal the period of time remaining prior to the Expiration Date is less than thirty (30) 30 days then such Borrowing Advance Tranche shall bear interest at the Prime Rate. No Prime Rate Borrowing Advance Tranche may remain outstanding in excess of thirty (30) 30 days at any one time.
Appears in 2 contracts
Samples: Credit Agreement (Preferred Apartment Communities Inc), Credit Agreement (Preferred Apartment Communities Inc)
No Interest Periods Beyond the Expiration Date. Borrower shall not select or renew an Interest Period for any Base Rate Borrowing Tranche that would end after the Expiration Date. If at the time of any such selection or renewal the period of time remaining prior to the Expiration Date is less than thirty (30) 30 days then such Borrowing Tranche shall bear interest at the Prime Rate. No Prime Rate Borrowing Tranche may remain outstanding in excess of thirty (30) 30 days at any one time.
Appears in 1 contract
