Common use of LIBOR Interest Periods Clause in Contracts

LIBOR Interest Periods. Each LIBOR Loan may be obtained for a one, two, three or six month period or, if available to all Lenders under the Revolver Facility, 12 month period (each such period being an “Interest Period”). With respect to all LIBOR Loans: (i) the Interest Period will commence on the date that the LIBOR Loan is made or the date on which any portion of any Base Rate Loan is converted into a LIBOR Loan, or, in the case of immediately successive Interest Periods, each successive Interest Period shall commence on the day on which the immediately preceding Interest Period expires; (ii) if the Interest Period would otherwise expire on a day that is not a Business Day, then it will expire on the next Business Day; provided that, if any Interest Period would otherwise expire on a day that is not a Business Day and such day is the last Business Day of a calendar month, such Interest Period shall expire on the Business Day next preceding such day; (iii) any Interest Period that begins on the last Business Day of a calendar month or on a day for which there is no numerically corresponding day in the last calendar month in such Interest Period shall end on the last Business Day of the last calendar month in such Interest Period; and (iv) no Interest Period shall be selected under the Revolver Facility that extends beyond the date set forth in clause (B) of the definition of Revolver Expiration Date.

LIBOR Interest Periods. Each The initial and each subsequent Interest Period selected by Borrower for a LIBOR Loan may shall be obtained for a onethirty (30), twosixty (60) or ninety (90) days; provided, three or six month period orhowever, if available to all Lenders under the Revolver Facility, 12 month period that (each such period being an “Interest Period”). With respect to all LIBOR Loans: (iA) the any Interest Period will commence on the date that the LIBOR Loan is made or the date on which any portion of any Base Rate Loan is converted into a LIBOR Loan, or, in the case of immediately successive Interest Periods, each successive Interest Period shall commence on the day on which the immediately preceding Interest Period expires; (ii) if the Interest Period would otherwise expire end on a day that is not a Business Day, then it will expire on the next Business Day; provided that, if any Interest Period would otherwise expire on a day that which is not a Business Day and shall be extended to the next succeeding Business Day, unless such day is the last next Business Day of a falls in another calendar month, in which case such Interest Period shall expire end on the immediately preceding Business Day next preceding such day; Day; (iiiB) any Interest interest Period that for a LIBOR Loan which begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month in at the end of such Interest Period Period) shall end on the last Business Day of the last a calendar month in such Interest Periodmonth; and (ivC) no such Interest Period shall end after the Initial Term or any Renewal Term or after any scheduled principal payment date on any Loan, if any LIBOR Portion would have to be selected under broken in order for Borrower to timely make such principal payment; and (D) no more than six (6) Portions (Revolving Loan Portions, Term Loan Portions or Capex Loan Portions in the Revolver Facility that extends beyond the date set forth in clause (Baggregate) bearing interest based on LIBOR may be outstanding at any time. If Borrower fails to notify Lender of the definition next Interest Period for any LIBOR Portion in accordance with this Section 2.1(i), such Portion shall automatically convert to a Prime Rate Portion on the last day of Revolver Expiration Datethe current Interest Period therefor.