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

Selection of Interest Periods and Terms. (a) A Borrower (or the Obligors' Agent on behalf of a Borrower) may select an Interest Period for a Loan in the Utilisation Request for that Loan or (if the Loan is a Term Loan and has already been borrowed) in a Selection Notice. (b) Each Selection Notice for a Term Loan is irrevocable and must be delivered to the Agent by the Borrower (or the Obligors' Agent on behalf of the Borrower) to which that Term Loan was made not later than the Specified Time. (c) If a Borrower (or the Obligors' Agent) fails to deliver a Selection Notice to the Agent in accordance with paragraph (b) above, the relevant Interest Period will be one Month. (d) Subject to this Clause 15, a Borrower (or the Obligors' Agent) may select an Interest Period of one, two, three or six Months, or (i) such shorter period as may be necessary to ensure that an Interest Period ends on the Termination Date, or (ii) any other period agreed between the Parent and the Agent (acting on the instructions of all the Lenders in relation to the relevant Loan).

Appears in 1 contract

Samples: Senior Term and Revolving Facilities Agreement (Inspired Entertainment, Inc.)

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Selection of Interest Periods and Terms. (a) A Borrower (or the Obligors' Agent Parent on behalf of a Borrowerits behalf) may select an Interest Period for a Loan in the Utilisation Request for that Loan or (if the Loan is a Term Loan and has already been borrowed) in a Selection Notice. (b) Each Selection Notice for a Term Loan is irrevocable and must be delivered to the Agent by the a Borrower (or the Obligors' Agent Parent on behalf of the Borrowerits behalf) to which that Term Loan was made not later than the Specified Time. (c) If a Borrower (or the Obligors' AgentParent on its behalf) fails to deliver a Selection Notice to the Agent in accordance with paragraph (b) above, the relevant Interest Period will be one Monththree Months. (d) Subject to this Clause 1512, a Borrower (or the Obligors' AgentParent) may select an Interest Period of one, two, three or six Months, or of: (i) such shorter period as may be necessary to ensure that an Interest Period ends on the Termination Date, or three Months in respect of Facility B; and (ii) in respect of an Accordion Facility, such periods as specified in the relevant Accordion Facility Notice, or any other period agreed between the Parent and the Agent (acting on the instructions of all the Lenders (each acting reasonably)) in relation to the relevant Loan).

Appears in 1 contract

Samples: Senior Term Facilities Agreement (NeoGames S.A.)

Selection of Interest Periods and Terms. (a) A The Borrower (or the Obligors' Agent Parent on behalf of a the Borrower) may select an Interest Period for a Loan in the Utilisation Request for that Loan or or, (if the Loan is a Term Loan and has already been borrowed) in a Selection Notice. (b) Each Selection Notice for a Term Loan is irrevocable and must be delivered to the Agent by the Borrower (or the Obligors' Agent Parent on behalf of the Borrower) to which that Term Loan was made not later than the Specified Time. (c) If a the Borrower (or the Obligors' AgentParent) fails to deliver a Selection Notice to the Agent in accordance with paragraph (b) above, the relevant Interest Period will will, subject to Clause 11.2 (Changes to Interest Periods), be one Monththree Months. (d) Subject to this Clause 1511, a Borrower (or the Obligors' AgentParent) may select an Interest Period of one, two, three or six Months, Months or (i) such shorter period as may be necessary to ensure that an Interest Period ends on the Termination Date, or (ii) any other period agreed between the Parent and the Agent (acting on the instructions of all the Lenders in relation to the relevant Loan). (e) An Interest Period for a Loan shall not extend beyond the Termination Date. (f) Each Interest Period for a Loan shall start on the Utilisation Date or (if already made) on the last day of its preceding Interest Period, and shall end on a Repayment Date.

Appears in 1 contract

Samples: Facility Agreement (Gulfmark Offshore Inc)

Selection of Interest Periods and Terms. (a) A Borrower (or the Obligors' Agent on behalf of a Borrower) may select an Interest Period for a Loan in the Utilisation Request for that Loan or (if the Loan is a Term Loan and has already been borrowed) in a Selection Notice. (b) Each Selection Notice for a Term Loan is irrevocable and must be delivered to the Agent by the Borrower (or the Obligors' Agent on behalf of the Borrower) to which that Term Loan was made not later than the Specified Time. (c) If a Borrower (or the Obligors' Agent) fails to deliver a Selection Notice to the Agent in accordance with paragraph (b) above, the relevant Interest Period will be one Monththree Months. (d) Subject to this Clause 15paragraph (d), a Borrower (or the Obligors' Agent) may select an Interest Period of: (i) in respect of onea Term Loan, three or six Months; and (ii) in respect of an Original Revolving Facility Loan, an Additional Revolving Facility Loan or a Refinancing Revolving Facility Loan, two, three or six Months, or (i) such shorter period as may be necessary to ensure that an Interest Period ends on the Termination Date, or (ii) any other period agreed between the Parent Obligors’ Agent and the Agent (acting on the instructions of all the Lenders in relation to of the relevant LoanUtilisation).

Appears in 1 contract

Samples: Senior Facilities Agreement (Fintrax US Acquisition Subsidiary, Inc.)

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Selection of Interest Periods and Terms. (a) A Borrower (or the Obligors' Agent Company on behalf of a Borrowerits behalf) may select an Interest Period for a Loan in the Utilisation Request for that Loan or (if the Loan is a an Uncommitted Accordion Term Facility Loan and has already been borrowed) in a Selection Notice. (b) Each Selection Notice for a an Uncommitted Accordion Term Facility Loan is irrevocable and must be delivered to the Agent by the a Borrower (or the Obligors' Agent on behalf of the Borrower) to which that Term Loan was made not later than the Specified Time. (c) If a Borrower (or the Obligors' Agent) fails to deliver a Selection Notice to the Agent in accordance with paragraph (b) aboveclause 14.1(b), the relevant Interest Period will be one Month3 Months. (d) Subject to this Clause 15clause 14, a the Borrower (or the Obligors' AgentCompany on its behalf) may select an Interest Period of one1, two2, three 3 or six Months, 6 Months or (i) such shorter period as may be necessary to ensure that an Interest Period ends on the Termination Date, or (ii) any other period agreed between the Parent and the Agent (acting on the instructions of all the Lenders in relation to the relevant Loan).) and the

Appears in 1 contract

Samples: Senior Facilities Agreement (Luxfer Holdings PLC)

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