Selection of Interest Option. On making a Notice of Borrowing under Section 2.3, the Borrower shall advise the Agent as to whether the Advance shall be (a) a Eurodollar Borrowing, in which case the Borrower shall specify the applicable Interest Period therefor or (b) an Alternate Base Borrowing. Notwithstanding anything to the contrary contained herein, no more than seven (7) Interest Periods shall be in effect at any one time with respect to Eurodollar Borrowings.
Appears in 3 contracts
Samples: Credit Agreement (Tandy Brands Accessories Inc), Credit Agreement (Tandy Brands Accessories Inc), Credit Agreement (Tandy Brands Accessories Inc)
Selection of Interest Option. On making a Notice of Borrowing under Section 2.3, the Borrower shall advise the Agent Lender as to whether the Advance shall be (a) a Eurodollar Borrowing, in which case the Borrower shall specify the applicable Interest Period therefor or therefor, (b) an Alternate Base a Prime Rate Borrowing or (c) a Quoted Rate Borrowing. Notwithstanding anything to the contrary contained herein, no more than seven five (75) Interest Periods shall be in effect at any one time with respect to Eurodollar Borrowings.
Appears in 2 contracts
Samples: Revolving Credit and Term Loan Agreement (Tandy Brands Accessories Inc), Revolving Credit Agreement (Tandy Brands Accessories Inc)
