Base Rate Interest Period definition

Base Rate Interest Period means, with respect to any Base Rate Loan, the period ending on the last day of each month, provided, however, that (i) if any Base Rate Interest Period would end on a day which is not a Business Day, such Interest Period shall be extended to the next succeeding Business Day, and (ii) if any Base Rate Interest Period would otherwise end after the Termination Date, such Interest Period shall end on the Termination Date.

Base Rate Interest Period means, with respect to any Base Rate Loan, the period ending on the last day of each month, provided, however, that (i) if any Base Rate Interest Period would end on a day which is not a Business Day, such Interest Period shall be extended to the next succeeding Business Day, and (ii) if any Base Rate Interest Period would otherwise end after the Maturity Date such Interest Period shall end on the Maturity Date.

Base Rate Interest Period means, with respect to any Base Rate Loan, the period ending on the last day of each month, provided, however, that (i) if any Base Rate Interest Period would end on a day which is not a Business Day, such Interest Period shall be extended to the next succeeding Business Day, (ii) in the case of an Advance under Facility A, if any Base Rate Interest Period would otherwise end after the Facility A Termination Date, such Interest Period shall end on the Facility A Termination Date, and (iii) in the case of an Advance under Facility B, if any Base Rate Interest Period would otherwise end after the Facility B Termination Date, such Interest Period shall end on the Facility B Termination Date.

Examples of Base Rate Interest Period in a sentence

• The undersigned Borrower hereby requests a Revolving Credit Loan under §2.1 of the Credit Agreement: Principal Amount: $ Type (LIBOR Rate, Base Rate): Interest Period: Drawdown Date: , 20 by credit to the general account of the undersigned Borrower with the Agent at the Agent’s Head Office.

• Borrower may not elect an Interest Rate Option corresponding to an Interest Period that would extend beyond the Maturity Date (it being understood and agreed that any Base Rate Interest Period otherwise including the Maturity Date shall end on the Maturity Date).

• The interest rate applicable to each Base Rate Interest Period shall change simultaneously with each change in the Base Rate without any notice or other action involving the Company.

• Interest on each Set of Base Rate Loans shall be due and payable on the Maturity Date thereof and, if the corresponding Base Rate Interest Period is longer than 90 days, also every 90th day during such Interest Period.

More Definitions of Base Rate Interest Period

Base Rate Interest Period means an Interest Period during which time the Loan is being maintained as a Base Rate Loan.

Base Rate Interest Period means for each Base Rate Portion, one month.

Base Rate Interest Period means with respect to any Base Rate Loan, the period (i) beginning on the date the Base Rate Loan is made or the conversion of a CD Loan to a Base Rate Loan or any reborrowing of a Eurodollar Loan as a Base Rate Loan and (ii) ending on the date on which Borrower converts such portion to a CD Loan or a Eurodollar Loan.

Base Rate Interest Period means any period that does not extend beyond the Maturity Date.

Base Rate Interest Period means, with respect to any Base Rate Loan, the period ending on the last day of each month, provided, however, that (i) if any Base Rate Interest Period would end on a day which is not a Business Day, such Interest Period shall be extended to the next succeeding Business Day, and (ii) if any Base Rate Interest Period would otherwise end after the Facility A Termination Date or the Facility B Termination Date, as the case may be, such Interest Period shall end on the applicable Termination Date.

Base Rate Interest Period means an Interest Period in respect of which the Interest Rate, as of the Interest Accrual Date for such Interest Period, is equal to the Base Rate.

Base Rate Interest Period shall refer only to the time during which the Base Rate is in effect with respect to the Base Rate Tranche of the Loan, commencing on the date hereof and, with respect to subsequent Base Rate Interest Periods, on the day next following the last day of the immediately preceding Base Rate Interest Period, and ending (i) in the case of the first Base Rate Interest Period, on the last day of the third calendar month after the month in which the date hereof occurs, and (ii) in the case of subsequent Base Rate Interest Periods, the last day of the third month after the end of the immediately preceding Base Rate Interest Period; provided, however, that no Base Rate Interest Period shall extend beyond the Maturity Date.