Applicable Interest Period definition

Applicable Interest Period for each Credit Facility has the meaning specified for that Credit Facility in the Credit Facility Schedule; provided, however, that, at any time that the Applicable Prime Rate is the Applicable Index Rate, Applicable Interest Period shall mean the period commencing as of the most recent Applicable Interest Rate Determination Date and continuing until the next Applicable Interest Rate Determination Date or such earlier date as the Applicable Prime Rate shall no longer be the Applicable Index Rate; and provided, further, that, at any time the Libor Rate Index is adjusted as set forth in the definition thereof, or re-implemented following invocation of the Applicable Prime Rate as permitted herein, the Applicable Interest Period shall mean the period commencing as of such adjustment or re-implementation and continuing until the next Applicable Interest Rate Determination Date, if any.

Applicable Interest Period means the one-month period starting on the first (1st) day of each month and ending on the last day of such month; provided, however, that the first (1st) Applicable Interest Period for each Credit Extension under this Credit Facility shall commence on the date that the applicable Credit Extension is made and end on the last day of such month.

Applicable Interest Period means, with respect to any Loan accruing interest at a LIBOR Rate, the period commencing on the first date the Borrower elects to have such LIBOR Rate apply to such Loan pursuant to Section 2.5(c) and ending one, two, three or six months thereafter as specified in the Interest Rate Notice given in respect of such Loan; provided, however, that Borrower may not select a six-month interest period for an Operating Loan and provided further, that no Applicable Interest Period may be selected for any LIBOR Loan if it extends beyond such Loan's Maturity Date.

Examples of Applicable Interest Period in a sentence

• The interest rate applicable for the Facility is the aggregate of the Bank’s margin and the Bank’s prevailing cost of funds (the “COF”) for the Applicable Interest Period (as defined in Clause 5(c) below), each as determined by the Bank and (in the case of the margin) notified to you at each drawdown and thereafter (if required) from time to time.

• The Borrower may, subject to the requirements of this Section 2.08(b), on at least three (3) Business Days' prior written notice elect to have interest accrue on any Committed Loan or any portion thereof at a LIBOR Rate for an Applicable Interest Period.

• Such Interest Rate Notice shall identify, subject to the conditions of this Section 2.08(b), the Committed Loan or portions thereof and the Applicable Interest Period which the Borrower selects.

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• Any Interest Rate Notice that specifies an IBOR Rate but fails to identify an Applicable Interest Period shall be deemed to be a request for the designated IBOR Rate for an Applicable Interest Period of one (1) month.

More Definitions of Applicable Interest Period

Applicable Interest Period means, with respect to any Loan, the period commencing on the date such Loan was made pursuant to Section 2.2 or converted or continued pursuant to Section 2.5 and ending:

Applicable Interest Period means, with respect to any portion of the Loan that bears interest at a particular Applicable Interest Rate, the period commencing on the effective date of an Interest Rate Notice provided in respect of such portion of the Loan pursuant to Section 2.5(b) and ending:

Applicable Interest Period means a taxable year of the Borrower.

Applicable Interest Period means the period of time from the Petition Date to the date an Allowed Claim is paid in full, or such other period of time (if any) for which interest on an Allowed Claim, or portion thereof, would be due under the Bankruptcy Code (including sections 506(b) and 726(a)).

Applicable Interest Period means, (i) with respect to any Committed Loan accruing interest at a LIBOR Rate, the period commencing on the first day the Borrower elects to have such LIBOR Rate apply to such Loan and ending either (A) on a day not less than seven (7) or more than thirty (30) days thereafter; or (B) on a day one, two, three or six months thereafter, in either case as specified in the Interest Rate Notice given in respect to such Loan, and (ii) with respect to any Competitive Bid Loan accruing interest at a LIBOR Rate, the period commencing on the first day the Borrower elects to have such LIBOR Rate apply to such Loan and ending on a day one, two, three, four, five, six, seven, eight, nine, ten, eleven or twelve months thereafter provided, however:

Applicable Interest Period means the Interest Period selected by the Borrower pursuant to this Agreement.

Applicable Interest Period means the one-month period starting on the first (1st) day of each month and ending on the last day of such month; provided, however, that the first (1st) Applicable Interest Period for each Credit Extension under this Facility shall commence on the date that the applicable Credit Extension is made and end on the last day of such month. Applicable Floor: means one-half of one percent (0.50%) per annum for the Applicable Libor Rate. Applicable Margin: a rate of interest equal to eight and 45/100 percent (8.45%) per annum.