Common use of Rate Options for all Advances; Maximum Interest Periods Clause in Contracts

Rate Options for all Advances; Maximum Interest Periods. The Swing Line Loans shall be Floating Rate Advances or shall bear interest at such other rate as may be agreed to between the Company and the Swing Line Bank at the time of the making of any such Swing Line Loan. The Revolving Loans and Term Loans may be Floating Rate Advances or Eurocurrency Rate Advances, or a combination thereof, selected by the Company (on behalf of itself or the Subsidiary Borrower) in accordance with Sections 2.7 and 2.9. The Company may select, in accordance with Sections 2.7 and 2.9, Rate Options and Interest Periods applicable to portions of the Revolving Loans and Term Loans; provided, that there shall be no more than eight (8) Interest Periods in effect with respect to all of the Loans at any time; provided, further, that (x) all Floating Rate Advances, all Swing Line Loans and all Term Loans to the Company hereunder shall be denominated in Dollars and (y) all Revolving Loans to the Subsidiary Borrower shall be Eurocurrency Rate Advances.

Appears in 2 contracts

Samples: Credit Agreement (Meritor Inc), Credit Agreement (Meritor Inc)

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Rate Options for all Advances; Maximum Interest Periods. The Any Dollar denominated Swing Line Loans shall be Floating Rate Advances or shall bear interest at such other rate as may be agreed to between the Company and the Swing Line Bank at the time of the making of any such Swing Line Loan. Any Swing Line Loans denominated in any other Swing Line Currency, if any, shall bear interest at such other rate as may be agreed to between the Company and the Swing Line Bank at the time of the making of any such Swing Line Loan. The Revolving Loans and Term Loans may be Floating Rate Advances or Eurocurrency Rate Advances, or a combination thereof, selected by the Company (on behalf of itself or the Subsidiary Borrower) applicable Borrower in accordance with Sections 2.7 and Section 2.9; provided, however, that Revolving Loans denominated in any Agreed Currency other than Dollars may only be Eurocurrency Rate Advances. The Company applicable Borrower may select, in accordance with Sections 2.7 and Section 2.9, Rate Options and Interest Periods applicable to portions of the Revolving Loans and Term Loans; provided, that there shall be no more than eight (8) Interest Periods in effect with respect to all of the Loans at any time; provided, further, that (x) all Floating Rate Advances, all Swing Line Loans and all Term Loans to the Company hereunder shall be denominated in Dollars and (y) all Revolving Loans to the Subsidiary Borrower shall be Eurocurrency Rate Advances.

Appears in 1 contract

Samples: Credit Agreement (Woodward, Inc.)

Rate Options for all Advances; Maximum Interest Periods. The Swing Line Loans shall be Floating Rate Advances or shall bear interest at such other rate as may be agreed to between the Company (on behalf of itself or the Subsidiary Borrower) and the Swing Line Bank at the time of the making of any such Swing Line Loan. The Revolving Loans and Term Loans may be Floating Rate Advances or Eurocurrency Rate Advances, or a combination thereof, selected by the Company (on behalf of itself or the Subsidiary Borrower) in accordance with Sections 2.7 and 2.9. The Company may select, in accordance with Sections 2.7 and 2.9, Rate Options and Interest Periods applicable to portions of the Revolving Loans and Term Loans; provided, that there shall be no more than eight (8) Interest Periods in effect with respect to all of the Loans at any time; provided, further, that (x) all Floating Rate Advances, all Swing Line Loans and all Term Loans to the Company hereunder shall be denominated in Dollars and (y) all Revolving Loans to the Subsidiary Borrower shall be Eurocurrency Rate AdvancesDollars. 2.4.

Appears in 1 contract

Samples: Credit Agreement (Arvinmeritor Inc)

Rate Options for all Advances; Maximum Interest Periods. The Any Dollar denominated Swing Line Loans shall be Floating Rate Advances or shall bear interest at such other rate as may be agreed to between the Company and the Swing Line Bank at the time of the making of any such Swing Line Loan. Any Swing Line Loans denominated in any other Swing Line Currency, if any, shall bear interest at such other rate as may be agreed to between the Company and the Swing Line Bank at the time of the making of any such Swing Line Loan. The Revolving Loans and Term Loans may be Floating Rate Advances, Eurocurrency Rate Advances or Eurocurrency Rate RFR Advances, or a combination thereof, selected by the Company (on behalf of itself or the Subsidiary Borrower) applicable Borrower in accordance with Sections 2.7 and Section 2.9; provided, however, that Revolving Loans denominated in any Agreed Currency other than Dollars may only be Eurocurrency Rate Advances or RFR Advances. The Company applicable Borrower may select, in accordance with Sections 2.7 and Section 2.9, Rate Options and Interest Periods applicable to portions of the Revolving Loans and Term Loans; provided, that there shall be no more than eight (8) Interest Periods in effect with respect to all of the Loans (and each outstanding RFR Loan shall constitute use of one Interest Period for purposes hereof) at any time; provided, further, that (x) all Floating Rate Advances, all Swing Line Loans and all Term Loans to the Company hereunder shall be denominated in Dollars and (y) all Revolving Loans to the Subsidiary Borrower shall be Eurocurrency Rate Advances.

Appears in 1 contract

Samples: Credit Agreement (Woodward, Inc.)

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Rate Options for all Advances; Maximum Interest Periods. The Swing Line Loans shall be Floating Rate Advances (if denominated in Dollars) or shall bear interest at such other rate as may be agreed to between the Company (on behalf of itself or any Subsidiary Borrower) and the Swing Line Bank at the time of the making of any such Swing Line Loan. The Revolving Loans and Term Loans may be Floating Rate Advances or Eurocurrency Rate Advances, or a combination thereof, selected by the Company (on behalf of itself or the any Subsidiary Borrower) in accordance with Sections 2.7 and 2.9. The Company may select, in accordance with Sections 2.7 and 2.9, Rate Options and Interest Periods applicable to portions of the Revolving Loans and Term Loans; provided, that there shall be no more than eight (8) Interest Periods in effect with respect to all of the Loans at any time; provided, further, that (x) all Floating Rate Advances, all Swing Line Loans and all Term Loans to the Company Advances hereunder shall be denominated in Dollars and (y) all Revolving Loans to the Subsidiary Borrower shall be Eurocurrency Rate AdvancesDollars.

Appears in 1 contract

Samples: Credit Agreement (Arvinmeritor Inc)

Rate Options for all Advances; Maximum Interest Periods. The Any Dollar denominated Swing Line Loans shall be Floating Rate Advances or shall bear interest at such other rate as may be agreed to between the Company and the Swing Line Bank at the time of the making of any such Swing Line Loan. Any Swing Line Loans denominated in any other Swing Line Currency, if any, shall bear interest at such other rate as may be agreed to between the Company and the Swing Line Bank at the time of the making of any such Swing Line Loan. The Revolving Loans and Term Loans may be Floating Rate Advances, Eurocurrency Rate Advances or Eurocurrency Rate RFR Advances, or a combination thereof, selected by the Company (on behalf of itself or the Subsidiary Borrower) applicable Borrower in accordance with Sections 2.7 and Section 2.9; provided, however, that Revolving Loans denominated in any Agreed Currency other than Dollars may only be Eurocurrency Rate Advances or RFR Advances. The Company applicable Borrower may select, in accordance with Sections 2.7 and Section 2.9, Rate Options and Interest Periods applicable to portions of the Revolving Loans and Term Loans; provided, that there shall be no more than eight (8) Interest Periods in effect with respect to all of the Loans (and each outstanding Daily Simple RFR Loan shall constitute use of one Interest Period for purposes hereof) at any time; provided, further, that (x) all Floating Rate Advances, all Swing Line Loans and all Term Loans to the Company hereunder shall be denominated in Dollars and (y) all Revolving Loans to the Subsidiary Borrower shall be Eurocurrency Rate Advances.

Appears in 1 contract

Samples: Credit Agreement (Woodward, Inc.)

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