Selection of Interest Periods Sample Clauses
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Selection of Interest Periods. With respect to each LIBOR Loan, the Borrower shall specify in the Drawdown Notice, Rollover Notice or Conversion Notice, the duration of the Interest Period provided that:
(a) Interest Periods shall have a duration of one, two, three or six months (subject to availability and to the aggregate number of Interest Periods with different dates outstanding being not more than ten (10));
(b) the first Interest Period for a LIBOR Loan shall commence on and include the day on which credit is obtained by way of such Loan and each subsequent Interest Period applicable thereto shall commence on and include the date of the expiry of the immediately preceding Interest Period applicable thereto; and
(c) if any Interest Period would end on a day which is not a Banking Day, such Interest Period shall be extended to the next succeeding Banking Day unless such next succeeding Banking Day falls in the next calendar month, in which case such Interest Period shall be shortened to end on the immediately preceding Banking Day.
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.
Selection of Interest Periods. The Borrowers may by notice received by the Agent not later than 10:00 a.m. on the third Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of three (3) months, six (6) months, nine (9) months, twelve (12) months or such other period as the Borrowers may select and the Agent (acting on the instructions of the Majority Banks) may agree.
Selection of Interest Periods. (a) A Borrower (or the Company on behalf of a Borrower) may select an Interest Period for a Loan in the Utilisation Request for that Loan or (if the Loan is a Term Facility Loan and has already been borrowed) in a Selection Notice.
(b) Each Selection Notice for a Term Facility Loan is irrevocable and must be delivered to the Facility Agent by the Borrower (or the Company on behalf of the Borrower) to which that Term Facility Loan was made not later than the Specified Time.
(c) If a Borrower (or the Company) fails to deliver a Selection Notice to the Facility Agent in accordance with paragraph (b) above, the relevant Interest Period will be the Interest Period selected in the most recently delivered Utilisation Request or Selection Notice (as applicable) for the relevant Term Facility Loan.
(d) Subject to this Clause 13, a Borrower (or the Company) may select an Interest Period of:
(i) in relation to a Revolving Facility, any number of days from and including one day to and including 30 days or one, two, three or six Months or any other period (subject to no minimum term) as agreed between the Company and the Facility Agent (without seeking any further consent or instructions from the Lenders); and
(ii) in relation to a Term Facility, one, two, three or six Months or any other period (subject to no minimum term) as agreed between the Company and the Facility Agent (without seeking any further consent or instructions from the Lenders), provided that any Interest Period that would otherwise end during the month preceding or extend beyond a repayment date relating to the Term Facility shall be of such duration that it shall end on that repayment date if necessary to ensure that there are Loans under the relevant Term Facility with Interest Periods ending on the relevant repayment date in a sufficient aggregate amount to make the repayment due on that repayment date.
(e) An Interest Period for a Loan shall not extend beyond the Termination Date.
(f) Each Interest Period for a Term Facility Loan shall start on the Utilisation Date or, if already made, on the last day of its preceding Interest Period.
(g) Each Revolving Facility Loan has one Interest Period only.
Selection of Interest Periods. (a) The Borrowers may select the Interest Period for each Tranche in the Utilisation Request for that Tranche. Subject to paragraph (f) below, the Borrowers may select each subsequent Interest Period in respect of each Tranche in a Selection Notice.
(b) Each Selection Notice is irrevocable and must be delivered to the Facility Agent by the Borrowers not later than the Specified Time.
(c) If the Borrowers fail to select an Interest Period in the Utilisation Request applicable to a Tranche or fail to deliver a Selection Notice to the Facility Agent in accordance with paragraphs (a) and (b) above, the relevant Interest Period will, subject to Clause 9.2 (Changes to Interest Periods) below, be three Months.
(d) Subject to this Clause 9 (Interest Periods), the Borrowers may select an Interest Period of 1, 3, 6 or 12 Months or any other period agreed between the Borrowers and the Facility Agent (acting on the instructions of all the Lenders) subject to a maximum of three 1 month Interest Periods in any calendar year for each Tranche.
(e) An Interest Period in respect of the Loan shall not extend beyond the Termination Date.
(f) In respect of a Repayment Instalment, an Interest Period for a part of the Loan equal to such Repayment Instalment shall end on the Repayment Date relating to it if such date is before the end of the Interest Period then current.
(g) The first Interest Period for a Tranche shall start on the first Utilisation Date for that Tranche and each subsequent Interest Period shall start on the last day of the preceding Interest Period.
(h) Except for the purposes of paragraph (f) above, each Tranche shall have one Interest Period only at any time.
Selection of Interest Periods. Subject to clause 3.3, the Borrowers may by notice received by the Payment Agent not later than 10:00 a.m. on the fourth Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of three (3), six (6) or twelve (12) months or such other period as the Borrowers may select and the Payment Agent (acting on the instructions of the Lenders) may agree, and if the Borrowers wishes to specify an Interest Period of more than 12 months, it must give at least 5 Banking Days prior notice thereof.
Selection of Interest Periods. 8.1.1 A Borrower (or the Parent on behalf of a Borrower) shall select an Interest Period for a Loan in the Utilisation Request for that Loan.
8.1.2 Subject to this clause 8 (Interest Periods), a Borrower (or the Parent on behalf of a Borrower) may select an Interest Period of one, three, six or twelve Months, as specified in the Utilisation Request.
Selection of Interest Periods. The Borrowers may by notice received by the Bank not later than 10 a.m. on the second Banking Day before the start of each Interest Period request that such Interest Period shall have a length of one (1), three (3) or six (6) months or such other period as the Borrowers may select and the Bank may, subject to the same being available in the London Interbank Market, agree.
Selection of Interest Periods. A Borrower shall select an Interest Period for a Loan in the Utilisation Request for that Loan.
Selection of Interest Periods. (a) The Borrower may select an Interest Period for a Loan in the Utilisation Request for that Loan or (if the Loan has already been borrowed) in a Selection Notice.
(b) Each Selection Notice for a Loan is irrevocable and must be delivered to the Agent by the Borrower not later than the Specified Time.
(c) If the Borrower fails to deliver a Selection Notice to the Agent in accordance with paragraph (b) above, the relevant Interest Period will be seven days or, if shorter, such that it ends on the Termination Date.
(d) Subject to this Clause 9, the Borrower may select an Interest Period of not less than two Business Days or, if shorter, such that it ends on the Termination Date.
(e) An Interest Period for a Loan shall not extend beyond the Termination Date.
(f) Each Interest Period for a Loan shall start on the Utilisation Date or (if already made) on the last day of its preceding Interest Period.
(g) At the end of each Interest Period, in respect of a Loan, the amount of interest accrued during that Interest Period in respect of such Loan shall be capitalised and compounded to that Loan.