INTEREST PERIOD SELECTION; ALTERNATIVE INTEREST RATES, ETC Clause Samples

INTEREST PERIOD SELECTION; ALTERNATIVE INTEREST RATES, ETC. 4.9.1 Borrower shall have the option to select Interest Periods (i) in accordance with Section 4.7 of this Agreement with respect to the duration of an initial Advance; and (ii) in accordance with Section 4.8 of this Agreement with respect to the duration of a Converted Advance. As to subsequent Interest Periods applicable to such Advances, Borrower may select the duration of the Interest Period by giving notice (which may be by telephone, telecopy, telex or cable, in each case confirmed immediately in writing in the manner specified in Article 23 of this Agreement) to Agent not less than three (3) Business Days prior to the first day of such subsequent Interest Period in the case of Eurodollar Rate Advances. If no such notice is received with respect to an outstanding Advance, Borrower shall be deemed to have elected to Convert the Advance into a Base Rate Advance. 4.9.2 Notwithstanding anything to the contrary contained herein, in no event may Borrower have more than six (6) Eurodollar Rate Advances in effect at any one time, which number shall be in addition to any Base Rate Advances.
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Related to INTEREST PERIOD SELECTION; ALTERNATIVE INTEREST RATES, ETC

  • Notice of Interest Period and Interest Rate Promptly after receipt of a Notice of Borrowing pursuant to Section 2.02(a), a notice of Conversion pursuant to Section 2.09 or a notice of selection of an Interest Period pursuant to the definition of “Interest Period”, the Administrative Agent shall give notice to the Borrower and each Lender of the applicable Interest Period and the applicable interest rate determined by the Administrative Agent for purposes of clause (a)(i) or (a)(ii) above.

  • Applicable Interest Rate 5.10.1 In respect of Pre-Delivery Interest Periods or Interest Periods pursuant to Clause 5.3.1 and subject to Clause 5.3.1, Clause 5.12 and Clause 6, the rate of interest applicable to the Loan (or relevant part in the case of the division of the Loan under Clause 5.8) during a Pre-Delivery Interest Period or an Interest Period shall be the Floating Interest Rate. 5.10.2 In respect of Interest Periods pursuant to Clause 5.3.2 and subject to Clause 5.3.2, Clause 5.12 and Clause 6, the rate of interest applicable to the Loan (or relevant part in the case of the division of the Loan under Clause 5.8) during an Interest Period shall be the Fixed Rate.

  • Applicable Interest Rates (a) U.S.

  • Duration of normal Interest Periods Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 3, 6 or 12 months as notified by the Borrower to the Lender not later than 11.00 a.m. (London time) 3 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails to notify the Lender by the time specified in paragraph (a) above; or (c) such other period as the Lender may agree with the Borrower.

  • Determination of Applicable Interest Rate As soon as practicable on each Interest Rate Determination Date, Bank shall determine (which determination shall, absent manifest error in calculation, be final, conclusive and binding upon all parties) the interest rate that shall apply to the LIBOR Advances for which an interest rate is then being determined for the applicable Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to Borrower.