Interest Period Election Sample Clauses

Interest Period Election. Borrower may, by prior telephonic notice to Bank, elect the Interest Period(s) to be applicable to all or any portion of any Eurodollar Advance upon the expiration of the Interest Period then applicable to such Eurodollar Advance; provided that such notice is given to Bank at least two (2) Business Days prior to the expiration of the then Interest Period and that Borrower gives written confirmation by facsimile of its telephonic notice on the same Business Day that such telephonic notice is given. In the event Borrower does not make such an election with respect to all or any portion of a Eurodollar Advance for which the Interest Period is expiring, then, upon the expiration of such Interest Period, the portion of such Eurodollar Advance for which no such election has been made shall automatically convert to a Prime Rate Advance.
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Interest Period Election. (a) Subject to the adjustment of any Interest Periods in connection with a Consolidation, the applicable Interest Period for all Term Loans shall at all times be six months. With respect to any other Eurodollar Loans, after the election of an initial Interest Period pursuant to a Notice of Borrowing, the Borrower shall elect the Interest Period that shall apply to each such Eurodollar Loan after the end of the then current Interest Period with respect to such Loan; provided that all Loans related to the same Borrowing shall have the same Interest Period. Each such election shall be in substantially the form of Exhibit I hereto (a "Notice of Interest Period") and shall be made by giving (x) in the case of Revolving Loans, the Agent and (y) in the case of Eurodollar Working Capital Loans, the Working Capital Agent, at least five (5) Business Days' prior written notice thereof specifying the Interest Period being elected. The Agent or the Working Capital Agent, as the case may be, shall promptly notify each Bank or Working Capital Bank, as the case may be, of its receipt of a Notice of Interest Period and of the contents thereof. If, within the time period required under the terms of this Section 5.1, the Agent or the Working Capital Agent, as the case may be, does not receive a Notice of Interest Period from the Borrower, or a Default shall then exist and be continuing, then the Agent or the Working Capital Agent, as the case may be, shall inform the Banks or the Working Capital Banks, as the case may be, of the same and, upon the expiration of the Interest Period therefor, the Interest Period applicable to such Loans thereafter shall be (x) one month, in the case of the Borrower's failure to deliver a Notice of Interest Period, and (y), of such duration as the Agent or the Working Capital Agent, as the case may be, may determine, in the event a Default shall then exist and be continuing, until such time as (i) in the case of the foregoing clause (x), the Borrower delivers a Notice of Interest Period in accordance with the terms of this Agreement electing a different Interest Period or (ii) such Loans become due and payable (as the case may be). Each Notice of Interest Period shall be irrevocable.
Sample 1
Interest Period Election. 17 2.12. Libor Brokerage Fee..................................17 2.13. Usury ...............................................17 3.
Sample 1
Interest Period Election. Borrower shall have the option of selecting Interest Periods of one, two, three or six months duration and may elect to have more than one Interest Period outstanding at any one time; provided, however, that (i) no Interest Period shall extend beyond the Maturity Date and (ii) the initial Interest Period for the Term Loan shall be one month. Thereafter, Borrower shall, not less than seven Business Days prior to the next Interest Payment Date, specify in writing to Lender the duration of the next Interest Period, which shall commence on (and include) the Interest Payment Date and shall expire on (but exclude) the next Interest Payment Date. If Borrower fails at any time to make an Interest Period election, the next succeeding Interest Period shall be of one month's duration and all succeeding Interest Periods thereafter shall be for one month's duration until such time, if any, as Borrower makes an Interest Period election.
Sample 1
Interest Period Election. Section 2.07 Default Interest
Sample 1
Interest Period Election. (a) Subject to Section 2.15, the Borrower may, upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, select the Interest Period applicable to all or any portion of any Eurodollar Rate Loan equal to $5,000,000 and integral multiples of $1,000,000.
Sample 1
Interest Period Election. 29 2.13. FEES ........................................................29 2.14. USURY .......................................................30 3.
Sample 1
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Interest Period Election. Each of the parties hereto agrees that all outstanding Loans shall, upon the expiration of the current Interest Period with respect to such Loans on or about November 10, 2023, be continued as (or converted to, if applicable) SOFR Loans with an Interest Period of six months, without further action of any Person (and for the avoidance of doubt, without delivery of a Conversion/Continuation Notice with respect to such Interest Period).
Sample 1

Related to Interest Period Election

  • LIBOR Interest Periods In lieu of making any payment pursuant to this Section 5.2 in respect of any LIBOR Loan, other than on the last day of the Interest Period therefor so long as no Event of Default shall have occurred and be continuing, the Borrower at its option may deposit, on behalf of the Borrower, with the Administrative Agent an amount equal to the amount of the LIBOR Loan to be prepaid and such LIBOR Loan shall be repaid on the last day of the Interest Period therefor in the required amount. Such deposit shall be held by the Administrative Agent in a corporate time deposit account established on terms reasonably satisfactory to the Administrative Agent, earning interest at the then customary rate for accounts of such type. Such deposit shall constitute cash collateral for the LIBOR Loans to be so prepaid; provided that the Borrower may at any time direct that such deposit be applied to make the applicable payment required pursuant to this Section 5.2.

  • 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).

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

  • 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:

  • LIBOR Election (i) Borrower may, at any time and from time to time, so long as no Event of Default has occurred and is continuing, elect to exercise the LIBOR Option by notifying Agent prior to 11:00 a.m. (California time) at least 3 Business Days prior to the commencement of the proposed Interest Period (the “LIBOR Deadline”). Notice of Borrower’s election of the LIBOR Option for a permitted portion of the Advances and an Interest Period pursuant to this Section shall be made by delivery to Agent of a LIBOR Notice received by Agent before the LIBOR Deadline, or by telephonic notice received by Agent before the LIBOR Deadline (to be confirmed by delivery to Agent of a LIBOR Notice received by Agent prior to 5:00 p.m. (California time) on the same day). Promptly upon its receipt of each such LIBOR Notice, Agent shall provide a copy thereof to each of the affected Lenders.

  • Conversions and Elections of Subsequent Interest Periods Subject to the limitations set forth below and in Article IV hereof, the Borrower may:

  • 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.

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

  • 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.

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

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