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

Selection and duration of Interest Periods. 5.2.1 Subject to the other provisions of this Clause 5, the Borrower may give notice to the Agent to be received by the Agent not later than 9.00 a.m. London time five (5) Business Days prior to the commencement of each Interest Period in respect of the Loan or any part thereof (prior to the Conversion Date) or the Delayed Principal Amount, specifying whether that Interest Period is to be of three (3) or six (6) months’ duration. Interest Periods in respect of a Tranche and the Delayed Principal Xxxxxx shall commence, in the case of the first, on the Drawdown Date thereof and 8 June 2009 respectively and, in the case of Interest Periods other than the first, on the expiry of the preceding Interest Period. However, the Agent shall have the right to adjust the length of the first Interest Period in respect of a Tranche (other than the first Tranche to be drawn down hereunder) such that it ends on the same date as any existing Interest Period in respect of the Loan.

Selection and duration of Interest Periods. 5.2.1 Subject to the other provisions of this Clause 54.10.1, the Borrower may give notice to the Agent to be received by the Agent not later than 9.00 a.m. London time five (5) Business Days prior to the commencement of each Interest Period in respect of the Loan or any part thereof (prior to the Conversion Date) or the Delayed Principal Amount, specifying whether that Interest Period is to be of three (3) or six (6) months’ duration. Interest Periods in respect of a Tranche and the Delayed Principal Xxxxxx shall commence, in the case of the first, on the Drawdown Date thereof and 8 June 2009 respectively and, in the case of Interest Periods other than the first, on the expiry of the preceding Interest Period. However, the Agent shall have the right to adjust the length of the first Interest Period in respect of a Tranche (other than the first Tranche to be drawn down hereunder) such that it ends on the same date as any existing Interest Period in respect of the Loan.