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

Selection of Interest Periods and Terms. (a) Each Borrower may (if pursuant to Clause 11.1(c) the Agent and the Borrowers have agreed to an Interest Period other than six (6) Months) select an Interest Period for a Loan in the Utilisation Request for that Loan or (if the Loan has already been borrowed) in a Selection Notice. (b) Each Selection Notice for a Loan is irrevocable and must be delivered to the Agent not later than 10:00 a.m. (Brussels time) on the relevant Quotation Date. (c) Subject to this Clause 11 a Borrower may select an Interest Period of six (6) Months or any other period agreed between it and the Agent (acting on the instructions of all the Lenders). (d) An Interest Period for a Loan shall not extend beyond the Final Maturity Date applicable to its Facility. (e) 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. (f) The Parent and the Agent may select an Interest Period of two (2) weeks (or a shorter period) for the purpose of aligning the Interest Period with the effective date of the Holdco Merger.

Appears in 1 contract

Samples: Facilities Agreement (International Game Technology PLC)

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Selection of Interest Periods and Terms. (a) Each The Borrower may (if pursuant to Clause 11.1(c) the Agent and the Borrowers have agreed to an Interest Period other than six (6) Months) select an Interest Period for a the Loan in the Utilisation Request for that Loan or (if the Loan has already been borrowed) in a Selection Notice. (b) Each Selection Notice for a the Loan is irrevocable and must be delivered to the Agent by the Borrower not later than 10:00 a.m. (Brussels time) on the relevant Quotation DateSpecified Time. (c) If the Borrower fails to deliver a Selection Notice to the Agent in accordance with clause 11.1(b) above, the relevant Interest Period will be three Months. (d) Subject to this Clause 11 a clause 11, the Borrower may select an Interest Period of two, three or six (6) Months or any other period agreed between it the Borrower and the Agent (acting on the instructions of all the Lenders). (de) An Interest Period for a the Loan shall not extend beyond the Final Maturity Date applicable to its FacilityTermination Date. (ef) Each Interest Period for a the Loan shall start on the Utilisation Date or (if already made) on the last day of its preceding Interest Period. (f) The Parent and the Agent may select an Interest Period of two (2) weeks (or a shorter period) for the purpose of aligning the Interest Period with the effective date of the Holdco Merger.

Appears in 1 contract

Samples: Term Facility Agreement (Enstar Group LTD)

Selection of Interest Periods and Terms. (a) Each The Borrower may (if pursuant to Clause 11.1(c) the Agent and the Borrowers have agreed to an Interest Period other than six (6) Months) select an Interest Period for a the Loan in the Utilisation Request for that Loan or (if the Loan and after it has already been borrowed) borrowed in a Selection Notice. (b) Each Selection Notice for a Loan is irrevocable and must be delivered to the Agent by the Borrower not later than 10:00 a.m. (Brussels time) on the relevant Quotation DateSpecified Time. (c) If the Borrower fails to deliver a Selection Notice to the Agent in accordance with paragraph (b) above, the relevant Interest Period will be three Months. (d) Subject to this Clause 11 (Interest Periods), a Borrower may select an Interest Period of three or six (6) Months or any other period agreed between it the Borrower and the Agent (acting on the instructions of all the Lenders). (de) An Interest Period for a the Loan shall not extend beyond the Final Maturity Date applicable to its FacilityRepayment Date. (ef) Each The Interest Period for a the Loan shall start on the Utilisation Date or (if already made) on the last day of its preceding Interest Period. (f) The Parent and the Agent may select an Interest Period of two (2) weeks (or a shorter period) for the purpose of aligning the Interest Period with the effective date of the Holdco Merger.

Appears in 1 contract

Samples: Facility Agreement (Cascal N.V.)

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Selection of Interest Periods and Terms. (a) Each Borrower may (if pursuant to Clause 11.1(c) the Agent and the Borrowers have agreed to an Interest Period other than six (6) Months) select an Interest Period for a Loan in the Utilisation Request for that such Loan or (if the such Loan has already been borrowed) in a Selection Notice. (b) Each Selection Notice for a Loan is irrevocable and must be delivered to the Agent not later than 10:00 a.m. (Brussels time) on one day before the relevant Quotation Date. (c) Subject to this Clause 11 a 11.1, each Borrower may select an Interest Period of three (3) or six (6) Months Months, or any other period agreed between it such Borrower and the Agent (acting on the instructions of all the Lenders); provided that the initial Interest Period for each Loan shall expire on 25 October 2021 or 25 January 2022. (d) An Interest Period for a Loan shall not extend beyond the Final Maturity Date applicable to its FacilityDate. (e) 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. (f) The Parent and If a Borrower fails to deliver a Selection Notice to the Agent may select an in accordance with paragraph (c) above, the relevant Interest Period of two will be three (23) weeks (or a shorter period) for the purpose of aligning the Interest Period with the effective date of the Holdco MergerMonths.

Appears in 1 contract

Samples: Senior Facility Agreement (International Game Technology PLC)

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