Common use of Contract Periods Clause in Contracts

Contract Periods. Each fixed-rate loan shall have applicable thereto a contract period to be duly elected by Borrower in the credit request therefor. Each contract period shall begin on the date the loan proceeds are to be disbursed and shall end on such date, not later than the expiration date, as Borrower may select subject, however, to the following: (a) The contract period for each MM loan shall be subject to Bank's assent thereto and, if the contract period otherwise would end on a day not a banking day, it shall end on the next following banking day. (b) The contract period for each LIBOR loan shall end one month or two or three or six months after the date of borrowing; PROVIDED, that (1) if any such contract period otherwise would end on a day that is not a banking day, it shall end instead on the next following banking day unless that day falls in another calendar month, in which latter case the contract period shall end instead on the last banking day of the next preceding calendar month, and (2) if the contract period commences on a day for which there is no numerical equivalent in the calendar month in which the contract period is to end, it shall end on the last banking day of that calendar month.

Contract Periods. Each fixedFixed-rate loan Rate Loan shall have applicable thereto a contract period Contract Period to be duly elected by Borrower in the credit request Credit Request therefor. Each contract period Contract Period shall begin on the date the loan proceeds are to be disbursed and shall end on such date, not later than the expiration dateExpiration Date, as Borrower may select subject, however, to the following: (a) The contract period for each MM loan shall be subject to Bank's assent thereto and, if the contract period otherwise would end on a day not a banking day, it shall end on the next following banking day. (b) The contract period Contract Period for each LIBOR loan Loan shall end one month or two or three or six months after the date of borrowing; PROVIDED, that (1) if any such contract period Contract Period otherwise would end on a day that is not a banking dayBanking Day, it shall end instead on the next following banking day Banking Day unless that day falls in another calendar month, in which latter case the contract period Contract Period shall end instead on the last banking day Banking Day of the next preceding calendar month, and (2) if the contract period Contract Period commences on a day for which there is no numerical equivalent in the calendar month in which the contract period Contract Period is to end, it shall end on the last banking day Banking Day of that calendar month.

Contract Periods. Each fixed-rate loan series of LIBOR loans shall have applicable thereto a contract period to be duly elected by Borrower in the credit request therefor. Each contract period shall begin on the date the loan proceeds are to be disbursed of borrowing and shall end on such date, not later than the expiration date, as Borrower may select subject, however, a date (to the following: (abe selected by Borrower) The contract period for each MM loan shall be subject to Bank's assent thereto and, if the contract period otherwise would end on a day not a banking day, it shall end on the next following banking day. (b) The contract period for each LIBOR loan shall end that is one month or two or three or six months after the date of borrowing, EXCEPT that in no event shall the date so selected be later than the expiration date; PROVIDED, that (1a) if any such contract period otherwise would end on a day that is not a banking Banking day, it shall end instead on the next following banking Banking day unless that day falls in another calendar month or, if not in the same month, in which latter case the contract period shall end instead on the last banking day of the next preceding calendar monthBanking day, and (2b) if the contract period commences on a day for which there is no numerical equivalent in the calendar month in which the contract period is to end, it shall end on the last banking Banking day of that calendar month.

Contract Periods. Each fixed-rate LIBOR loan shall have applicable thereto a contract period to be duly elected by Borrower in the credit request therefor. Each contract period shall begin on the date the loan proceeds are to be disbursed and shall end on such date, not later than the expiration date, as Borrower may select subject, however, to the following: (a) The contract period for each MM loan shall be subject to Bank's assent thereto and, if the contract period otherwise would end on a day not a banking day, it shall end on the next following banking day. (b) The contract period for each LIBOR loan shall end one month or two or three or six months after the date of borrowing; PROVIDED, that (1) if any such contract period otherwise would end on a day that is not a banking day, it shall end instead on the next following banking day unless that day falls if both days are in another the same calendar month or, if not in the same month, in which latter case the contract period shall end instead on the last banking day of the next preceding calendar monthbanking day, and (2) if the contract period commences on a day for which there is no numerical equivalent in the calendar month in which the contract period is to end, it shall end on the last banking day of that calendar month. (b) Borrower shall never elect a contract period for any LIBOR loan the term of which extends beyond the expiration date.