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 at all times. The Revolving Loans and Term Loans may be Floating Rate Advances or Eurodollar Rate Advances, or a combination thereof, selected by the Borrower in accordance with Section 2.10; provided, however, notwithstanding anything herein to the contrary, the Borrower may not select Interest Periods for Eurodollar Rate Advances made during the Syndication Period which exceed fourteen (14) days and the Interest Periods with respect to all such Eurodollar Rate Advances made during the Syndication Period shall be required to expire on the same date. The Borrower may select, in accordance with Section 2.10, Rate Options and Interest Periods applicable to portions of the Revolving Loans and the Term Loans; provided that there shall be no more than five (5) Interest Periods in effect with respect to all Eurodollar Rate Loans at any time.

Appears in 2 contracts

Samples: Credit Agreement (Alion Science & Technology Corp), Credit Agreement (Alion Science & Technology Corp)

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Rate Options for all Advances; Maximum Interest Periods. The Swing Line Loans shall be Floating Rate Advances at all times. The Revolving Loans and Term Loans may be Floating Rate Advances or Eurodollar Eurocurrency Rate Advances, or a combination thereof, selected by the Borrower in accordance with Section 2.10; provided, however, notwithstanding anything herein to the contrary, the Borrower may not select Interest Periods for Eurodollar Eurocurrency Rate Advances made during the Syndication Period which exceed fourteen seven (147) days and the Interest Periods with respect to all such Eurodollar Eurocurrency Rate Advances made during the Syndication Period shall be required to expire on the same date. The Borrower may select, in accordance with Section 2.10, Rate Options and Interest Periods applicable to portions of the Revolving Loans and the Term Loans; provided that there shall be no more than five nine (59) Interest Periods in effect with respect to all Eurodollar Rate of the Loans at any time. Each Alternate Currency Loan shall bear interest on the outstanding principal amount thereof, for the Interest Period applicable thereto, at a rate per annum set forth in the applicable Alternate Currency Addenda.

Appears in 1 contract

Samples: Credit Agreement (Schawk Inc)

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Rate Options for all Advances; Maximum Interest Periods. The Swing Line Loans shall be Floating Rate Advances Loans at all times. The Revolving Loans and Term Loans may be Floating Rate Advances or Eurodollar Rate Advances, or a combination thereof, selected by the Borrower in accordance with Section 2.10SECTION 2.7; providedPROVIDED, howeverHOWEVER, notwithstanding anything herein to the contrary, the Borrower may not select Interest Periods for Eurodollar Rate Advances made during the Syndication Period which exceed fourteen seven (147) days and the Interest Periods with respect to all such Eurodollar Rate Advances made during the Syndication Period shall be required to expire on the same date. The Borrower may select, in accordance with Section 2.10SECTION 2.9, Rate Options rate options and Interest Periods applicable to portions of the Revolving Loans and the Term Loans; provided PROVIDED that there shall be no more than five six (56) Interest Periods in effect with respect to all Eurodollar Rate of the Loans at any time.

Appears in 1 contract

Samples: Credit Agreement (Huttig Building Products Inc)

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