Common use of RATE OPTIONS FOR ALL ADVANCES Clause in Contracts

RATE OPTIONS FOR ALL ADVANCES. The Revolving Loans may be Floating Rate Advances or Eurodollar Rate Advances, or a combination thereof, selected by the Borrower in accordance with SECTION 2.8. The Borrower may select, in accordance with SECTION 2.8, Rate Options and Interest Periods applicable to portions of the Revolving Loans; PROVIDED that there shall be no more than six (6) Interest Periods in effect with respect to all of the Revolving Loans at any time; and PROVIDED, FURTHER, HOWEVER, notwithstanding anything herein to the contrary, the Borrower may not select the Eurodollar Rate for any Loans without the Agent's consent during the period from the Closing Date through the earlier to occur of (i) the date that is sixty (60) days after the Closing Date and (ii) the date on which the Arranger notifies the Borrower that the primary syndication of the Loans and Commitments has been completed (the "SYNDICATION PERIOD").

Appears in 1 contract

Samples: Credit Agreement (Precept Business Services Inc)

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RATE OPTIONS FOR ALL ADVANCES. The Revolving Loans may be Floating Rate Advances or Eurodollar Rate Advances, or a combination thereof, selected by the Borrower in accordance with SECTION 2.8. The Borrower may select, in accordance with SECTION 2.8, Rate Options and Interest Periods applicable to portions of the Revolving Loans; PROVIDED that there shall be no more than six seven (67) Interest Periods in effect with respect to all of the Revolving Loans at any time; and PROVIDED, FURTHER, HOWEVER, notwithstanding anything herein to the contrary, the Borrower may not select the Eurodollar Rate for any Loans without the Agent's consent during the period from the Closing Effective Date through the earlier to occur of (i) the date that is sixty (60) 60 days after the Closing Effective Date and (ii) the date on which the Arranger notifies the Borrower that the primary syndication of the Loans and Commitments has been completed (the "SYNDICATION PERIOD"). The Swing Line Loans shall at all times be Floating Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Metals Usa Inc)

RATE OPTIONS FOR ALL ADVANCES. The Revolving Loans may be Floating Rate Advances or Eurodollar Rate Advances, or a combination thereof, selected by the Borrower in accordance with SECTION 2.8. The Borrower may select, in accordance with SECTION 2.8, Rate Options and Interest Periods applicable to portions of the Revolving Loans; PROVIDED that there shall be no more than six seven (67) Interest Periods in effect with respect to all of the Revolving Loans at any time; and PROVIDED, FURTHER, HOWEVER, notwithstanding anything herein to the contrary, the Borrower may not select the Eurodollar Rate for any Loans without the Agent's consent during the period from the Closing Date through the earlier to occur of (i) the date that is sixty (60) 60 days after the Closing Date and (ii) the date on which the Arranger notifies the Borrower that the primary syndication of the Loans and Commitments has been completed (the "SYNDICATION PERIOD"). The Swing Line Loans shall at all times be Floating Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Metals Usa Inc)

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RATE OPTIONS FOR ALL ADVANCES. The Revolving Loans may be Floating Rate Advances or Eurodollar Rate Advances, or a combination thereof, selected by the Borrower in accordance with SECTION 2.8. The Borrower may select, in accordance with SECTION 2.8, Rate Options and Interest Periods applicable to portions of the Revolving Loans; PROVIDED that there shall be no more than six seven (67) Interest Periods in effect with respect to all of the Revolving Loans at any time; and PROVIDED, FURTHER, HOWEVER, notwithstanding anything herein to the contrary, the Borrower may not select the Eurodollar Rate for any Revolving Loans without the Agent's consent during the period from the Closing Date through the earlier to occur of (i) the date that is sixty (60) 60 days after the Closing Date and (ii) the date on which the Arranger notifies the Borrower that the primary syndication of the Loans and Commitments has been completed (the "SYNDICATION PERIOD"). The Swing Line Loans shall at all times be Floating Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Homeusa Inc)

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