Commencement of Interest Period or Quoted Rate Period Sample Clauses

Commencement of Interest Period or Quoted Rate Period. (i)If all or any portion of a Loan is initially made under the Term SOFR Rate Option or Daily Simple SOFR Rate Option, is converted to or continued at the Term SOFR Rate Option or Daily Simple SOFR Rate Option, or an Interest Period for all or any portion of a Loan is converted, the Interest Period shall commence on the Borrowing Date, date of continuation of or conversion to the Term SOFR Rate Option or the Daily Simple SOFR Rate Option, or date of conversion of the Interest Period, as applicable, and, in the case of immediately successive Interest Periods, each successive Interest Period shall commence on the date on which the immediately preceding Interest Period expires. Upon a conversion from the Term SOFR Rate Option or the Daily Simple SOFR Rate Option to another Interest Rate Option, interest at the other Interest Rate Option shall commence on the last day of the existing Interest Period.
Sample 1
AutoNDA by SimpleDocs
Commencement of Interest Period or Quoted Rate Period. (i) If the Term Loan is initially made under the LIBOR Rate Option, is converted to or continued at the LIBOR Rate Option, or an Interest Period for all or any portion of the Term Loan is converted, the Interest Period shall commence on the Closing Date, date of conversion to the LIBOR Rate Option, or date of conversion of the Interest Period, as applicable, and, in the case of immediately successive Interest Periods, each successive Interest Period shall commence on the date on which the immediately preceding Interest Period expires. Upon a conversion from the LIBOR Rate Option to the Base Rate Option, interest at the Base Rate Option shall commence on the last day of the existing Interest Period.
Sample 1
Commencement of Interest Period or Quoted Rate Period. In the case of any borrowing of, conversion to or continuation of any Term SOFR Rate Loan or Quoted Rate Loan, the Interest Period or Quoted Rate Period, as applicable, shall commence on the date of advance of or conversion to any Term SOFR Rate Loan or Quoted Rate Loan and, in the case of immediately successive Interest Periods or Quoted Rate Periods, each successive Interest Period or Quoted Rate Period shall commence on the date on which the immediately preceding Interest Period or Quoted Rate Period expires. Upon a conversion from a Term SOFR Rate Loan or Quoted Rate Loan to a Daily Simple SOFR Rate Loan, interest at the Daily Simple SOFR Rate Option shall commence on the last day of the existing Interest Period or Quoted Rate Period, as applicable.
Sample 1

Related to Commencement of Interest Period or Quoted Rate Period

  • Commencement of Interest Periods The first Interest Period shall commence on the Drawdown Date and each subsequent Interest Period shall commence on the expiry of the preceding Interest Period.

  • Duration of normal Interest Periods Subject to Clauses 6.3 and 6.4, each Interest Period shall be:

  • Number of Interest Periods There may be no more than 6 different Interest Periods for LIBOR Loans outstanding at the same time.

  • Interest Period Commencing on the first (1st) Payment Date of the month following the month in which the Funding Date of the applicable Term Loan Advance occurs, and continuing on each Payment Date thereafter, Borrower shall make monthly payments of interest on the principal amount of each Term Loan Advance at the rate set forth in Section 2.2(a).

  • Compensation for Breakage or Non-Commencement of Interest Periods Borrower shall compensate each Lender, as promptly as practicable after written request by such Lender (which request shall set forth the basis for requesting such amounts and shall be conclusive absent manifest error), for all reasonable losses, expenses and liabilities (including any interest paid or calculated to be due and payable by such Lender to lenders of funds borrowed by it to make or carry its Eurodollar Rate Loans and any loss, expense or liability sustained by such Lender in connection with the liquidation or deployment of such funds but excluding loss of anticipated profits) which such Lender may sustain: (i) if for any reason (other than a default by such Lender) a borrowing of any Eurodollar Rate Loan does not occur on a date specified therefor in a Funding Notice or a telephonic request for borrowing, or a conversion to or continuation of any Eurodollar Rate Loan does not occur on a date specified therefor in a Conversion/Continuation Notice or a telephonic request for conversion or continuation; (ii) if any prepayment or other principal payment of, or any conversion of, any of its Eurodollar Rate Loans occurs on a date prior to the last day of an Interest Period applicable to that Loan; or (iii) if any prepayment of any of its Eurodollar Rate Loans is not made on any date specified in a notice of prepayment given by Borrower.

  • Rest Period After Overtime (a) When overtime work is necessary, it will, wherever reasonably practicable, be so arranged that employees have at least 10 consecutive hours off duty between the work of successive days or shifts, including overtime.

  • Duration of Interest Periods 32 2.9 Interest Rates and Payments of Interest.................................... 33 2.10

  • 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.

  • Alternate Rate of Interest If prior to the commencement of any Interest Period for a Eurodollar Borrowing:

  • Rest Period An employee who works overtime shall have at least a ten hour rest period between the end of ordinary hours on any one day and start of ordinary hours on the next day. If on the instructions of the employer, the employee resumes or continues work without having had 10 consecutive hours off duty, the employee shall be paid double time until he or she is released from duty for ten hour rest period. The employee shall then be entitled to be absent without loss of pay for ordinary working hours occurring during the ten hour rest period. In the case of shift workers, eight hours shall be substituted for ten hours when overtime is worked:

Time is Money Join Law Insider Premium to draft better contracts faster.