Common use of Selection and Continuation of Interest Periods Clause in Contracts

Selection and Continuation of Interest Periods. (a) Subject to the provisions of Section 1.2 and 1.6(c) relating to Loans made by any Lender, Borrower shall from time to time request Interest Periods for the Liquidity Fundings of a Lender Group by providing notice to the related Lender Group Agent in accordance with the provisions of Section 4.4, provided that if at any time any Liquidity Funding is outstanding for a Lender Group, Borrower shall always request Interest Periods for such Lender Group such that at least one Interest Period for such Lender Group shall end on the next succeeding Settlement Date; provided, further, that if no Interest Period is so selected, the Interest Period shall be one month. (b) Borrower or a Lender Group Agent, upon notice to and consent by the other received at least three (3) Business Days prior to the end of an Interest Period (the “Terminating Tranche”) for any Liquidity Funding of the related Lender Group, may, effective on the last day of the Terminating Tranche: (i) divide any such Liquidity Funding into multiple Liquidity Fundings, (ii) combine any such Liquidity Funding with one or more other Liquidity Fundings of such Lender Group that have a Terminating Tranche ending on the same day as such Terminating Tranche or (iii) combine any such Liquidity Funding with a new Liquidity Funding to be made by the Liquidity Banks of such Lender Group on the day such Terminating Tranche ends.

Selection and Continuation of Interest Periods. (a) Subject to the provisions of Section 1.2 and 1.6(c) relating to Loans made by any Lender, Borrower shall from time to time request Interest Periods for the Liquidity Fundings of a Lender Group by providing notice to the related Lender Group Agent in accordance with the provisions of Section 4.4, provided that if at any time any Liquidity Funding is outstanding for a Lender Group, Borrower shall always request Interest Periods for such Lender Group such that at least one Interest Period for such Lender Group shall end on the next succeeding Settlement Date; provided, further, that if no Interest Period is so selected, the Interest Period shall be one month. (b) Borrower or a Lender Group Agent, upon notice to and consent by the other received at least three (3) Business Days prior to the end of an Interest Period (the “"Terminating Tranche”") for any Liquidity Funding of the related Lender Group, may, effective on the last day of the Terminating Tranche: (i) divide any such Liquidity Funding into multiple Liquidity Fundings, (ii) combine any such Liquidity Funding with one or more other Liquidity Fundings of such Lender Group that have a Terminating Tranche ending on the same day as such Terminating Tranche or (iii) combine any such Liquidity Funding with a new Liquidity Funding to be made by the Liquidity Banks of such Lender Group on the day such Terminating Tranche ends.