BA Equivalent Interest Period definition

BA Equivalent Interest Period shall have the meaning ascribed to such term in Section 10.3.

BA Equivalent Interest Period means, as to any BA Equivalent Borrowing, the period commencing on the date of such Borrowing or on the last day of the immediately preceding BA Equivalent Interest Period applicable to such Borrowing, as applicable, and ending on the numerically corresponding day (or, if there is no numerically corresponding day, on the last day) in the calendar month that is 1, 2 or 3 months thereafter, as the Canadian Borrower may elect, or the date any BA Equivalent Borrowing is converted to a Canadian Prime Rate Borrowing in accordance with Section 2.07 or repaid or prepaid in accordance with Section 2.09, 2.10 or 2.11; provided, however, that if any BA Equivalent Interest Period would end on a day other than a Business Day, such BA Equivalent Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such BA Equivalent Interest Period shall end on the next preceding Business Day. Interest shall accrue from and including the first day of a BA Equivalent Interest Period to but excluding the last day of such BA Equivalent Interest Period.

BA Equivalent Interest Period means, with respect to each BA Equivalent Revolving Loan, the period selected by the Canadian Borrower hereunder and being of one, two, three or six months' duration, in each case commencing on the Funding Date of such BA Equivalent Revolving Loan or on the Canadian Continuation/Conversion Date on which the Canadian Revolving Loan is converted into or continued as a BA Equivalent Revolving Loan; provided that in any case the last day of each BA Equivalent Interest Period shall also be the first day of the next BA Equivalent Interest Period and further provided that the last day of each BA Equivalent Interest Period shall be a Business Day and if the last day of a BA Equivalent Interest Period selected by the Canadian Borrower is not a Business Day, the Canadian Borrower shall be deemed to have selected a BA Equivalent Interest Period the last day of which is the Business Day next following the last day of the BA Equivalent Interest Period otherwise selected, unless such next following Business Day falls in the next calendar month in which event the Canadian Borrower shall be deemed to have selected a BA Equivalent Interest Period the last day of which is the Business Day next preceding the last day of the BA Equivalent Interest Period otherwise selected and further provided that the last BA Equivalent Interest Period hereunder shall expire on or prior to the Stated Termination Date.

Examples of BA Equivalent Interest Period in a sentence

• At the commencement of each Interest Period for any Eurocurrency Borrowing or each BA Equivalent Interest Period for any BA Equivalent Borrowing, such Borrowing shall be in an aggregate amount that is an integral multiple of the Borrowing Multiple and not less than the Borrowing Minimum.

• The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Type thereof and the Interest Period or BA Equivalent Interest Period (if any) applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrowers to each Lender hereunder and (iii) any amount received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof.

• If any Borrower fails to deliver a timely Interest Election Request with respect to a Eurocurrency Borrowing or a BA Equivalent Borrowing prior to the end of the Interest Period or BA Equivalent Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period such Borrowing shall be converted to an ABR Borrowing (in the case of a Eurocurrency Borrowing) or a Canadian Prime Rate Borrowing (in the case of a BA Equivalent Borrowing).

• If no Interest Period or BA Equivalent Interest Period is specified with respect to any requested Eurocurrency Borrowing or BA Equivalent Borrowing, respectively, then the applicable Borrower shall be deemed to have selected an Interest Period or BA Equivalent Interest Period, respectively, of one month’s duration.

• If any such Interest Election Request requests a BA Equivalent Borrowing but does not specify a BA Equivalent Interest Period, then the Canadian Borrower shall be deemed to have selected a BA Equivalent Interest Period of one month’s duration.

More Definitions of BA Equivalent Interest Period

BA Equivalent Interest Period for each BA Equivalent Advance shall be equal to the term of the drafts presented for acceptance as Bankers’ Acceptances on the relevant Drawdown Date, Conversion Date or Rollover Date.

BA Equivalent Interest Period for each BA Equivalent Loan shall be equal to the Interest Period of the drafts presented for acceptance as Bankers' Acceptances on the relevant date of Borrowing. On the relevant date of the Borrowing the Borrowing Subsidiary shall pay to the Agent a fee equal to the Acceptance Fee which would have been payable to such Lender if it were a Lender accepting drafts having a term to maturity equal to the applicable BA Equivalent Interest Period and an aggregate face amount equal to the sum of the principal amount of the BA Equivalent Loan and the interest payable thereon by the Borrowing Subsidiary for the Applicable BA Equivalent Interest Period. The provisions of this Agreement dealing with Bankers' Acceptances shall apply, mutatis mutandis, to BA Equivalent Loans.

BA Equivalent Interest Period means, with respect to each BA Equivalent Loan, the period commencing on the Funding Date of such Loan or on the Continuation/Conversion Date on which the Loan is converted into or continued as a BA Equivalent Loan, and ending on (a) the date one or three months thereafter, or (b) any other date agreed to by all the Lenders making or holding such Loan, in each case, as selected by the applicable Canadian Borrower in its Notice of Borrowing or Notice of Continuation/Conversion; provided that:

BA Equivalent Interest Period means, with respect to each BA Equivalent Loan, the interest period applicable thereto, as determined pursuant to Section 2.6(b).

BA Equivalent Interest Period means, with respect to each BA Equivalent Loan, the interest period applicable thereto, as determined pursuant to Section 2.7.

BA Equivalent Interest Period as applicable, whenever any payment is due on a day other than a Business Day, such payment shall be due on the following Business Day, and such extension of time shall in such case be included in the computation of interest or fees, as the case may be.

BA Equivalent Interest Period means, with respect to each BA Equivalent Loan, the period commencing on the Funding Date of such Loan or on the Continuation/Conversion Date on which the Loan is converted into or continued as a BA Equivalent Loan, and ending on (i) the date one or three months thereafter, or (ii) any other date agreed to by all the Lenders making or holding such Loan, in each case, as selected by the applicable Canadian Borrower in its Notice of Borrowing or Notice of Continuation/Conversion, provided that: