LIBOR Interest Periods. LIBOR Rate Loans shall be selected by Borrowers, for a LIBOR Interest Period during which the LIBOR Based Rate is applicable; provided, however, that if the LIBOR Interest Period would otherwise end on a day which shall not be a London Business Day, such LIBOR Interest Period shall be extended to the next preceding or succeeding London Business Day as is Lender's custom in the market to which such LIBOR Rate Loan relates. All accrued and unpaid interest on a LIBOR Rate Loan shall be paid monthly in accordance with Section 3.2.
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LIBOR Interest Periods. LIBOR Rate Loans shall be selected by Borrowers, Borrower for a LIBOR Interest Period during which the LIBOR Based Rate is applicable; provided, however, that if the LIBOR Interest Period would otherwise end on a day which shall not be a London Business Day, such LIBOR Interest Period shall be extended to the next preceding or succeeding London Business Day as is the Lender's custom in the market to which such LIBOR Rate Loan relates. All accrued and unpaid interest on a LIBOR Rate Loan shall be paid monthly in accordance with Section 3.2.
Appears in 1 contract
Sources: Loan and Security Agreement (Electronics Boutique Holdings Corp)
LIBOR Interest Periods. LIBOR Rate Loans shall be selected by Borrowers, Borrower for a LIBOR Interest Period during which the LIBOR Based Rate is applicable; provided, however, that if the LIBOR Interest Period would otherwise end on a day which shall not be a London Business Day, such LIBOR Interest Period shall be extended to the next preceding or succeeding London Business Day as is the Lender's custom in the market to which such LIBOR Rate Loan relates. All accrued and unpaid interest on a LIBOR Rate Loan shall be paid monthly at the end of the LIBOR Interest Period in accordance with Section 3.2.
Appears in 1 contract
Sources: Loan and Security Agreement (Open Plan Systems Inc)