Selection of CP Tranche Periods and Interest Periods Sample Clauses

The 'Selection of CP Tranche Periods and Interest Periods' clause defines how the specific timeframes for commercial paper (CP) tranches and their associated interest periods are determined within a financial agreement. Typically, this clause outlines the process by which the borrower or issuer selects the duration of each tranche and the corresponding interest period, often subject to approval or notification requirements set by the lender or agent. By establishing clear procedures for choosing these periods, the clause ensures predictability in cash flows and interest calculations, thereby reducing uncertainty and facilitating efficient management of short-term financing arrangements.
Selection of CP Tranche Periods and Interest Periods. (a) Except upon the occurrence and during the continuance of an Event of Default or when Gotham is a Pool Funded Conduit, the Borrower (or the Servicer, on the Borrower’s behalf) in its Borrowing Request may request CP Tranche Periods from time to time to apply to Gotham’s CP Rate Loans; provided, however, that (i) at any time while Gotham has CP Rate Loans outstanding, at least one CP Tranche Period of Gotham shall mature on each Settlement Date and (ii) no CP Tranche Period of Gotham may extend beyond the latest Scheduled Termination Date of any Gotham Liquidity Bank. In addition to the foregoing, except upon the occurrence and during the continuance of an Event of Default, the Borrower (or the Servicer, on the Borrower’s behalf) in its Borrowing Request may request Interest Periods from time to time to apply to the Eurodollar Loans; provided, however, that (x) at any time while any Lender has Eurodollar Loans outstanding, at least one Interest Period of such Lender shall mature on each Settlement Date and (y) no Interest Period of any Lender which began prior to its Scheduled Termination Date shall extend beyond such Scheduled Termination Date. (b) While the Gotham Agent will use reasonable efforts to accommodate the Borrower’s or the Servicer’s requests for CP Tranche Periods except during the continuance of an Event of Default or when Gotham is acting as Pool Funded Conduit, the Gotham Agent shall have the right to subdivide any requested CP Rate Loan into one or more CP Rate Loans of different CP Tranche Periods, or, if the requested period is not feasible, to suggest an alternative CP Tranche Period. While each of the Co-Agents will use reasonable efforts to accommodate the Borrower’s or the Servicer’s requests for Interest Periods for Eurodollar Loans except during the continuance of an Event of Default, each of the Co-Agents shall have the right to subdivide any requested Eurodollar Loan into one or more Eurodollar Loans with different Interest Periods, or, if the requested period is not feasible, to suggest an alternative Interest Period. Notwithstanding the foregoing, not less than $1,000,000 of principal may be allocated to any CP Tranche Period or Interest Period of any Lender, and no Alternate Base Rate Loan may have a principal amount of less than $1,000,000. (c) The Borrower (or the Servicer, on the Borrower’s behalf) may not request an Interest Period for a Eurodollar Loan unless it shall have given each of the applicable Co-Agent(s) writt...
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Selection of CP Tranche Periods and Interest Periods. (a) Except upon the occurrence and during the continuance of an Amortization Event and subject to Section 2.2(b) and 2.2(c), Borrower (or the Servicer, on Borrower’s behalf) in its Borrowing Request may request Interest Periods from time to time to apply to the LIBOR Loans; provided, however, that at any time while any Lender has LIBOR Loans outstanding, at least one Interest Period of such Lender shall mature on each Monthly Settlement Date. (b) While each of the Co-Agents will use reasonable efforts to accommodate Borrower’s or the Servicer’s requests for Interest Periods for LIBOR Loans except during the continuance of an Amortization Event, each of the Co-Agents shall have the right to subdivide any requested LIBOR Loan into one or more LIBOR Loans with different Interest Periods, or, if the requested period is not feasible, to suggest an alternative Interest Period. Notwithstanding the foregoing, not less than $1,000,000 (or such lesser amount as agreed by the applicable Lender) of principal may be allocated to any CP Tranche Period of any Conduit or Interest Period of any Loan, and no Alternate Base Rate Loan may have a principal amount of less than $1,000,000 (or such lesser amount as agreed by the applicable Lender). (c) Borrower (or the Servicer, on Borrower’s behalf) may not request an Interest Period for a LIBOR Loan unless it shall have given each of the applicable Co-Agent(s) written notice of its desire therefor not later than 1:00 p.m. (New York City time) at least three (3) Business Days prior to the first day of the desired Interest Period, and, solely in the case of the Atlantic Group, received the Atlantic Agent’s consent to the making of a LIBOR Loan. Accordingly, all Liquidity Fundings shall initially be Alternate Base Rate Loans. (d) Unless each of the Co-Agents shall have received written notice by 12:00 p.m. (New York City time) on the Business Day prior to the last day of a CP Tranche Period that Borrower intends to reduce the aggregate principal amount of the CP Rate Loans outstanding, each of the Co-Agents and the Conduits shall be entitled to assume that Borrower desires to refinance the principal and interest of each maturing CP Rate Loan on the last day of its CP Tranche Period with new CP Rate Loans having substantially similar CP Tranche Periods; provided, however, that Borrower shall remain liable to pay in cash any portion of the principal or interest on the maturing CP Rate Loan when due to the extent that the applicable ...
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Selection of CP Tranche Periods and Interest Periods. Section 2.3 Computation of Concentration Limits and Outstanding Balance..................................................9 Section 2.4 Maximum Interest Rate.......................................9 Section 2.5 Payments and Computations, Etc...........................
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Selection of CP Tranche Periods and Interest Periods. (a) Except upon the occurrence and during the continuance of an Amortization Event and subject to Sections 1.2(c) and 2.2(b) and, in the case of LIBOR Loans, Section 2.2(c): Borrower (or the Servicer, on Borrower’s behalf) in its Borrowing Request may request Interest Periods from time to time to apply to the LIBOR Loans; provided, however, that no Interest Period of any Liquidity Bank which began prior to its Liquidity Termination Date shall extend beyond such Liquidity Termination Date. (b) Each of the Co-Agents shall have the right to subdivide any requested LIBOR Loan into one or more LIBOR Loans with different Interest Periods, or, if the requested period is not feasible, to suggest an alternative Interest Period. Notwithstanding the foregoing, not less than $1,000,000 of principal may be allocated to any CP Tranche Period of the Conduits or to any Interest Period of any Liquidity Funding, and no Alternate Base Rate Loan may have a principal amount of less than $1,000,000. (b) All references in the Agreement to “BTM” shall be replaced with “BTMU” and similarly, all references in the Agreement to “The Bank of Tokyo-Mitsubishi, Ltd., New York Branch” shall be replaced with “The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch”. (c) The definition of “Face Value” in the Agreement is hereby deleted, and each of the following definitions in the Agreement is hereby amended and restated in its entirety to read as follows:
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Selection of CP Tranche Periods and Interest Periods. Prior to the occurrence of an Event of Default, the Borrower or the Servicer in its Borrowing Request may request CP Tranche Periods (or, in the case of Liquidity Fundings, Interest Periods) from time to time to apply to each Lender's CP Rate Loans or Eurodollar Loans, as applicable; PROVIDED, HOWEVER, that (i) at least one CP Tranche Period or one Interest Period shall mature on each Settlement Date, and (ii) no CP Tranche Period or Interest Period which began prior to the Scheduled Termination Date shall extend beyond the Scheduled Termination Date. While each of the Co-Agents will use reasonable efforts to accommodate the Borrower's or the Servicer's requests for CP Tranche Periods or Interest Periods prior to an Event of Default, each of the Co-Agents shall have the right to subdivide any requested Loan into one or more Loans of different CP Tranche Periods or Interest Periods, as the case may be, or, if the requested period is not feasible, to suggest an
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Selection of CP Tranche Periods and Interest Periods. Prior to the occurrence of a Liquidation Event, the Borrower or the Servicer in its Borrowing Request may request CP Tranche Periods (or, in the case of Liquidity Fundings, Interest Periods) from time to time to apply to the Lender’s CP Rate Loans or Eurodollar Loans, 6
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Selection of CP Tranche Periods and Interest Periods. 8 Section 2.3 Computation of Concentration Limits and Outstanding Balance..9
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Selection of CP Tranche Periods and Interest Periods. Except upon the occurrence and during the continuance of an Amortization Event and subject to Section 2.2(b) and 2.2(c), Borrower (or the Servicer, on Borrower’s behalf) in its Borrowing Request may request Interest Periods from time to time to apply to the LIBOR Loans; provided, however, that (x) at any time while any Liquidity Bank or Conduit has LIBOR Loans outstanding, at least one Interest Period of such Liquidity Bank or Conduit shall mature on each Monthly Settlement Date and (y) no Interest Period of any Liquidity Bank or Conduit in a Group which began prior to the Liquidity Termination Date applicable to such Group, shall extend beyond such Liquidity Termination Date, unless such Group elects to extend such Liquidity Termination Date.
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Selection of CP Tranche Periods and Interest Periods. Prior to the occurrence of a Liquidation Event, the Borrower or the Servicer (on the Borrower's behalf) in its Borrowing Request may request CP Tranche Periods (or, in the case of Liquidity Fundings, Interest Periods) from time to time to apply to each Lender's CP Rate Loans
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Related to Selection of CP Tranche Periods and Interest Periods

  • Interest Periods In connection with each LIBOR Rate Loan, the Borrower, by giving notice at the times described in Section 3.1(a), shall elect an interest period (each, an "Interest Period") to be applicable to such Loan, which Interest Period shall be a period of one (1), two (2), three (3) or six (6) months with respect to each LIBOR Rate Loan; provided that: (i) the Interest Period shall commence on the date of advance of or conversion to any LIBOR Rate Loan or and, in the case of immediately successive Interest Periods, each successive Interest Period shall commence on the date on which the next preceding Interest Period expires; (ii) if any Interest Period would otherwise expire on a day that is not a Business Day, such Interest Period shall expire on the next succeeding Business Day; provided, that if any Interest Period with respect to a LIBOR Rate Loan would otherwise expire on a day that is not a Business Day but is a day of the month after which no further Business Day occurs in such month, such Interest Period shall expire on the next preceding Business Day; (iii) any Interest Period with respect to a LIBOR Rate Loan 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 calendar month at the end of such Interest Period) shall end on the last Business Day of the relevant calendar month at the end of such Interest Period; (iv) no Interest Period shall be permitted to extend beyond the Termination Date; and (v) there shall be no more than five (5) Interest Periods outstanding at any time.

  • Selection of Interest Periods (a) A Borrower may select an Interest Period for a Loan in the Utilisation Request for that Loan. (b) Subject to this Clause 9, a Borrower may select an Interest Period of one (1), two (2), three (3) or six (6) months or any other period agreed between the Borrower and the Agent (acting on the instructions of all the Lenders). (c) An Interest Period for a Loan shall not extend beyond the Termination Date. (d) Each Interest Period for a Loan shall start on the Utilisation Date. (e) A Loan has one Interest Period only.

  • 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.

  • 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.

  • Method of Selecting Types and Interest Periods for New Advances The Borrower shall select the Type of Advance and, in the case of each Eurodollar Advance, the Interest Period applicable thereto from time to time. The Borrower shall give the Administrative Agent irrevocable notice (a "Borrowing Notice") not later than 11:00 a.m. (Chicago time) on the Borrowing Date of each Floating Rate Advance and not later than 11:00 a.m. (Chicago time) three Business Days before the Borrowing Date for each Eurodollar Advance, specifying: (i) the Borrowing Date, which shall be a Business Day, of such Advance, (ii) the aggregate amount of such Advance, (iii) the Type of Advance selected, and (iv) in the case of each Eurodollar Advance, the Interest Period applicable thereto. Not later than noon (Chicago time) on each Borrowing Date, each Lender shall make available its Loan or Loans in funds immediately available in Chicago to the Administrative Agent at its address specified pursuant to Article XIII. The Administrative Agent will make the funds so received from the Lenders available to the Borrower at the Administrative Agent's aforesaid address.