Continuation of Interest Periods Sample Clauses

Continuation of Interest Periods. Unless timely notice of prepayment is given by the Borrower to the Administrative Agent pursuant to Section 2.4(a), on the last day of each Interest Period, the entire principal amount of the Term Loan will automatically be continued for an additional Interest Period of 3 months.
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Continuation of Interest Periods. Any LIBOR Rate Loan shall be continued as such (less the amount of principal that is due and payable at the end of such expiring Interest Period) for an Interest Period of one (1) month on the first business day of each month, provided that no LIBOR Rate Loan may be continued as such: (i) at a time when any Event of Default (or event or condition which would constitute an Event of Default but for the giving of notice or passage of time or both) has occurred and is continuing and (ii) after the date that is one (1) month prior to the Termination Date, in which event the Principal Amount shall bear interest as a Prime Rate Loan.
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Continuation of Interest Periods. (a) Subject to the provisions of clause (d) of this Section 2.6 and the provisions of Section 2.12, the Borrower shall have the option to, upon the expiration of the then current Interest Period applicable to any of its LIBOR Rate Loans, submit a Request for Continuation and continue such LIBOR Rate Loan at the then existing Interest Period or convert such LIBOR Rate Loan to an Interest Period that is not the then existing Interest Period, and, in each case, the succeeding Interest Period of such continued or converted Loan shall commence on the expiration date of the Interest Period previously applicable thereto; provided, however, that (i) continuations or conversions may occur for all or any portion of LIBOR Rate Loans equal to $500,000, and integral multiples of $100,000 in excess of such amount and (ii) a LIBOR Rate Loan may only be continued or converted on the expiration date of the Interest Period applicable thereto; provided further, however, that if, (A) before the expiration of an Interest Period of a LIBOR Rate Loan, the Borrower fails timely to deliver the appropriate Request for Continuation, such LIBOR Rate Loan automatically shall be continued as a LIBOR Rate Loan with an Interest Period of one (1) month, (B) if the Borrower delivers a Request for Continuation that does not
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Continuation of Interest Periods. Each of the Existing Term Loans and each "Revolving Loan" (as such term is defined in the Prior Credit Agreement) that are outstanding under the Prior Credit Agreement as of the Closing Date and that are "Eurodollar Rate Loans" (as such term is defined in the Prior Credit Agreement) shall continue with the same Interest Period hereunder as the interest period in effect under the Prior Credit Agreement with respect to such loan, until the expiration of such interest period, and shall, until the expiration of such interest period, bear interest at the "Eurodollar Rate" in effect under and as defined in the Prior Credit Agreement with respect to such loans (plus the Applicable Margin hereunder).
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Continuation of Interest Periods. Each Interest Period shall be continued upon the expiration thereof by the Borrower giving notice to the Lender, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period, provided that the selection of an Interest Period by the Borrower shall be subject to Section 2.4 and provided, further, that if the Borrower shall fail to give any required notice as described above in this Section with respect to any portion of the Term Loan, the Borrower shall be deemed to have selected an Interest Period of one month with respect to such portion.
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Continuation of Interest Periods. Subject to the provisions of Section 2.07(c) and Section 2.11, any Borrower may upon the expiration of an Interest Period, elect to continue the applicable Eurocurrency Rate Advance for an additional Interest Period, upon notice to the Administrative Agent in accordance with the definition of “Interest Period”.
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Continuation of Interest Periods. Any LIBOR Rate Loan under the Term Notes shall be continued as such (less the amount of principal that is due and payable at the end of such expiring Interest Period) for an Interest Period of one (1) month at the end of each Interest Period, provided that no LIBOR Rate Loan may be continued as such: (i) at a time when any Event of Default (or event or condition which would constitute an Event of Default but for the giving of notice or passage of time or both) has occurred and is continuing and (ii) after the date that is one (1) month prior to the Termination Date, in which event the principal amount under the Term Notes shall bear interest as a Prime Rate Loan.
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Continuation of Interest Periods. Any LIBOR Rate Loan under the Acquisition/Capital Asset Line of Credit Notes shall be continued as such (less the amount of principal that is due and payable at the end of such expiring Interest Period) for an Interest Period of one (1) month at the end of each Interest Period, provided that no LIBOR Rate Loan may be continued as such: (i) at a time when any Event of Default (or event or condition which would constitute an Event of Default but for the giving of notice or passage of time or both) has occurred and is continuing and (ii) after the date that is one (1) month prior to the Termination Date, in which event the principal amount under the Acquisition/Capital Asset Line of Credit Notes shall bear interest as a Prime Rate Loan.
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Continuation of Interest Periods. Five Business Days prior to the beginning of each Interest Period, the Lessee, acting for such purpose as agent of the Lessor, may request that the Credit Bank determine the Adjusted LIBOR Rate applicable to such Interest Period and the Credit Bank shall notify the Lessee of such Adjusted LIBOR Rate. Each LIBOR Rate Loan shall automatically be continued for another Interest Period of the same duration, unless the Lessee shall elect to convert all or any part thereof to a Base Rate Loan by written notice to the Credit Bank given on any day which is at least three Business Days before the beginning of the next succeeding Interest Period. Except to the extent that the Base Rate applies as a result of any circumstance described in SECTION 2.03(f) hereof, the Lessee may elect to convert any Base Rate Loan to a LIBOR Rate Loan, (i) if a LIBOR Rate Loan shall be outstanding at the time of such election, effective on the first day of the next succeeding Interest Period, or (ii) if no LIBOR Rate Loan shall be outstanding at the time of such election, effective on any date at least three but not more than five Business Days after such election. The Lessee may elect at the end of any Interest Period with respect thereto to convert a LIBOR Rate Loan into a Base Rate Loan. Notwithstanding the foregoing, there shall be only one Interest Period applicable at any time for all Remarketing Loans outstanding hereunder as LIBOR Rate Loans, except that any LIBOR Rate Loan arising from a Remarketing Drawing which occurs during an existing Interest Period shall have a separate "short" initial Interest Period from and including the date of the Remarketing Drawing until the last day of the then existing Interest Period. Each such election made by the Lessee under this SECTION 2.03(c) shall be made by giving the Credit Bank at least three Business Days' prior irrevocable written notice thereof, which notice shall specify (1) in the case of a conversion, the date of conversion (which date shall in any event be the first day of an Interest Period), and (2) in the case of a conversion or continuation affecting less than 100% of the amount of outstanding Remarketing Loans, the amounts thereof which are to be LIBOR Rate Loans and Base Rate Loans, respectively. If, at any time prior to the date a conversion to, or continuation of, a LIBOR Rate Loan is effective, the Lessee has received notice that any of the circumstances described in SECTIONS 2.03(f)(i) or (iii) exist, the right of the ...
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Related to Continuation of Interest Periods

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

  • 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.

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

  • 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:

  • 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.

  • Notification of interest periods and default rates The Agent shall promptly notify the Lenders and the Borrower of each interest rate determined by the Agent under Clause 7.3 and of each period selected by the Agent for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Agent’s notification.

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

  • Selection of Interest Rate Options At any time any portion of this Note bears interest determined in relation to LIBOR, it may be continued by Borrower at the end of the Fixed Rate Term applicable thereto so that all or a portion thereof bears interest determined in relation to the Prime Rate or to LIBOR for a new Fixed Rate Term designated by Borrower. At any time any portion of this Note bears interest determined in relation to the Prime Rate, Borrower may convert all or a portion thereof so that it bears interest determined in relation to LIBOR for a Fixed Rate Term designated by Borrower. At such time as Borrower requests an advance hereunder or wishes to select a LIBOR option for all or a portion of the outstanding principal balance hereof, and at the end of each Fixed Rate Term, Borrower shall give Bank notice specifying: (i) the interest rate option selected by Borrower; (ii) the principal amount subject thereto; and (iii) for each LIBOR selection, the length of the applicable Fixed Rate Term. Any such notice may be given by telephone (or such other electronic method as Bank may permit) so long as, with respect to each LIBOR selection, (A) if requested by Bank, Borrower provides to Bank written confirmation thereof not later than three (3) Business Days after such notice is given, and (B) such notice is given to Bank prior to 10:00 a.m. on the first day of the Fixed Rate Term, or at a later time during any Business Day if Bank, at it’s sole option but without obligation to do so, accepts Borrower’s notice and quotes a fixed rate to Borrower. If Borrower does not immediately accept a fixed rate when quoted by Bank, the quoted rate shall expire and any subsequent LIBOR request from Borrower shall be subject to a redetermination by Bank of the applicable fixed rate. If no specific designation of interest is made at the time any advance is requested hereunder or at the end of any Fixed Rate Term, Borrower shall be deemed to have made a Prime Rate interest selection for such advance or the principal amount to which such Fixed Rate Term applied.

  • Rest Periods Employees working a full shift will receive one rest period of fifteen (15) minutes in each half of the shift. Employees working less than a full shift, but a minimum of four (4) hours will receive one fifteen (15) minute rest period.

  • 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).

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