Determination of Interest and Interest Periods Sample Clauses

Determination of Interest and Interest Periods. For purposes of determining the Interest Period applicable to each Loan and to calculate Interest with respect thereto, each applicable Managing Agent shall allocate the Loans of the Lenders in its Lender Group to tranches (each a “Portion of Loan”). Any Portion of Loan funded by a Conduit Lender may from time to time be funded through the issuance of Commercial Paper or pursuant to a Program Support Agreement, provided that each Conduit Lender confirms that, to the extent permitted by its commercial paper program documentation, it intends to fund all Loans hereunder through the issuance of its Commercial Paper prior to the termination date specified in its related Program Support Agreement, an Event of Default or certain other circumstances occurring in the financial or Commercial Paper markets in general or with respect to the Loan Documents, or the Initial Borrower in particular, which, in the sole discretion of the Administrative Agent, such Conduit Lender or its Managing Agent, make funding the Loans through the issuance of Commercial Paper reasonably inadvisable. Any Portion of Loan funded by a Conduit Lender through the issuance of Commercial Paper (and not pursuant to a Program Support Agreement) shall accrue Interest at the applicable CP Rate. Any Portion of Loan funded by the Committed Lenders or a Program Support Provider shall accrue interest at a rate per annum equal to: (i) with respect to LIBOR Rate Loans, the Adjusted LIBOR Rate for the applicable Interest Period, (ii) with respect to CDOR Rate Loans, the CDOR for the Applicable Interest Period, and (iii) with respect to Reference Rate Loans, the Reference Rate in effect from day to day. At any time, each Portion of Loan shall have only one Interest Period and one Rate Type. The aggregate Portions of Loans of each Lender Group at all times shall be equal to the Loans of such Lender Group, and at any time when the Loans are not divided into two or more portions, the term “Portion of Loans” shall mean 100% of the Loans of such Lender Group.
Sample 1
AutoNDA by SimpleDocs
Determination of Interest and Interest Periods. (a) For the purpose of calculation and payment of Interest hereunder, from time to time the Agent shall allocate each Liquidity Advance to one or more portions (each a “Tranche"). At any time, each Tranche will be associated with a particular Interest Period, and Interest will accrue thereon at the interest rate determined in accordance with this Clause 2.4. The Agent shall make each such allocation and select the corresponding Interest Periods on or before the date of any requested Liquidity Advance or the expiration of any then existing Interest Period.
Sample 1
Determination of Interest and Interest Periods 
Sample 1

Related to Determination of Interest and Interest Periods

  • Notification of Interest Periods and interest rate The Agent shall notify the Borrowers and the Banks promptly of the duration of each Interest Period and of each rate of interest (or, as the case may be default interest) determined by it under this clause 3.

  • Determination of Interest Periods Every Interest Period shall be of the duration specified by the Borrowers pursuant to clause 3.2 but so that:

  • 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.

  • Duration of Interest Periods The duration of each Interest Period relating to the Advance shall, save as otherwise provided herein, be one, three, six or twelve months, or any such other period as may be agreed from time to time between the Borrower and the Agent, in each case as the Borrower may select by not less than three business days' prior notice to the Agent Provided that:

  • Notification of Interest Periods and rates of normal interest The Agent shall notify the Borrower and each Lender of:

  • 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.

  • Calculation of Interest and Fees All calculations of interest and fees under this Agreement and the other Credit Documents for any period (a) shall include the first day of such period and exclude the last day of such period and (b) shall be calculated on the basis of a year of 360 days for actual days elapsed, except that during any period any Loan bears interest based upon the Prime Rate, such interest shall be calculated on the basis of a year of 365 or 366 days, as appropriate, for actual days elapsed.

  • different Interest Periods If the Agent does not receive a Borrowing Notice or an Interest Rate Selection Notice giving notice of election of the duration of an Interest Period or of Conversion of any Loan to or Continuation of a Loan as a Eurodollar Rate Loan by the time prescribed by Section 2.1(c) or 2.8, the Borrower shall be deemed to have elected to Convert such Loan to (or Continue such Loan as) a Base Rate Loan until the Borrower notifies the Agent in accordance with Section 2.8.

  • Duration of Interest Periods for repayment instalments In respect of an amount due to be repaid under Clause 8 on a particular Repayment Date, an Interest Period shall end on that Repayment Date.

  • 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.

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