Common use of Interest Periods Clause in Contracts

Interest Periods. When Borrower requests any Eurodollar Rate Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which shall be, at Borrower's option and subject to availability, one, two, three, or six months; provided, however, that: (a) the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period); (c) no Interest Period may be chosen with respect to any portion of the Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debt; and (d) no more than an aggregate of five (5) Interest Periods shall be in effect at one time.

Appears in 4 contracts

Samples: Revolving Credit Agreement (Northern Border Partners Lp), Revolving Credit Agreement (Pier 1 Imports Inc/De), Revolving Credit Agreement (Northern Border Partners Lp)

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Interest Periods. When Borrower requests any Eurodollar (i) Solely with respect to Term Loans and Bridge Loans and in connection with each LIBO Rate BorrowingLoan, Borrower may elect shall, pursuant to the interest period (each Notice of Borrowing or a Confirmation of Interest Period Selection select an "INTEREST PERIOD") Interest Period to be applicable theretoto such LIBO Rate Loans, which Interest Periods shall bebe a six (6) month period ending in each case on a Payment Date or, at Borrower's option solely with respect to the initial LIBO Rate Loans, any shorter Interest Period ending on the first Payment Date, as requested by Borrower and subject to availabilityapproved by Administrative Agent (any such period, one, two, three, or six monthsan “Interest Period”); provided, however, that: that (a1) with the initial exception of any shorter Interest Period for a Eurodollar Rate Borrowing shall commence ending on the date first Payment Date, the selection of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins other than the six (6) month Interest Period shall be subject to availability of such Interest Period from each Lender; (2) any Interest Period which would otherwise end on a day for which there is no numerically corresponding not a Business Day shall be extended to the next succeeding Business Day unless that day falls in the next calendar month at the end of such Interest Periodmonth, in which case such Interest Period shall end on the next immediately preceding Business Day; (3) any Interest Period which begins on the last Business Day immediately following what otherwise would have been such numerically corresponding day in the of a calendar month at the end of such Interest Period (unless such date would be in or on a different calendar month from what would have been the month at the end of such Interest Period, or unless day for which there is no numerically corresponding day in the calendar month at the end of the such Interest Period; whereupon, such Interest Period ) shall end on the last Business Day in the of a calendar month at the end of such Interest Period)month; and (c4) no Interest Period may be chosen with respect shall extend beyond the Term Loan Maturity Date or Bridge Loan Maturity Date, as applicable. If Borrower fails to any portion notify Administrative Agent of the Principal Debt which next Interest Period for any LIBO Rate Loan in accordance with this Section 2.1(c)(i), such Term Loan or Bridge Loan, as applicable, shall automatically continue as a new LIBO Rate Loan with the same Interest Period as such prior LIBO Rate Loan; provided, however, that in the event that the Interest Period of such new LIBO Rate Loan would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required applicable Maturity Date, then such Loan shall automatically convert to be made) for such portion of the Principal Debt; and (d) no more than an aggregate of five (5) Interest Periods shall be in effect at one timea Base Rate Loan.

Appears in 4 contracts

Samples: Financing Agreement (First Wind Holdings Inc.), Financing Agreement (First Wind Holdings Inc.), Financing Agreement (First Wind Holdings Inc.)

Interest Periods. When At the time any Borrower requests gives any Eurodollar Rate BorrowingNotice of Borrowing or Notice of Conversion/Continuation in respect of the making of, or conversion into, any LIBOR Loan (in the case of the initial Interest Period applicable thereto) or prior to 1:00 P.M. (New York City time) on the third Business Day prior to the expiration of an Interest Period applicable to such LIBOR Loan (in the case of any subsequent Interest Period), such Borrower may shall have the right to elect the interest period (each each, an "INTEREST PERIOD"“Interest Period”) applicable theretoto such LIBOR Loan, which shall beInterest Period shall, at the option of the Borrower's option and subject to availability, be a one, two, three, three or six monthsmonth period; provided, howeverthat, that: (in each case): (a) all LIBOR Loans comprising a Borrowing shall at all times have the same Interest Period; (b) the initial Interest Period for a Eurodollar Rate Borrowing any LIBOR Loan shall commence on the date of Borrowing of such Borrowing LIBOR Loan (including the date of any conversion thereto), thereto from a Base Rate Loan) and each Interest Period occurring thereafter in respect of such Borrowing LIBOR Loan shall commence on the day on which the next preceding Interest Period applicable thereto expires; (bc) if any Interest Period for a Eurodollar Rate Borrowing LIBOR Loan begins on a day for which there is no numerically corresponding Business Day day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next last Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such calendar month; (d) if any Interest Period (unless such date for a LIBOR Loan would be in otherwise expire on a different calendar month from what would have been the month at the end of such Interest Period, or unless there day which is no numerically corresponding day in the calendar month at the end of the Interest Period; whereuponnot a Business Day, such Interest Period shall end expire on the last next succeeding Business Day; provided, however, that if any Interest Period for a LIBOR Loan would otherwise expire on a day which is not a Business Day but is a day of the month after which no further Business Day occurs in the calendar month at the end of such month, such Interest Period)Period shall expire on the next preceding Business Day; (ce) unless the Required Lenders otherwise agree, no Interest Period may be chosen with respect to selected at any portion time when an Event of the Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal DebtDefault is then in existence; and (df) no more than an aggregate Interest Period in respect of five (5) Interest Periods any Borrowing shall be in effect at one selected which extends beyond the Revolving Commitment Termination Date. If by 1:00 P.M. (New York City time) on the third Business Day prior to the expiration of any Interest Period applicable to a Borrowing of LIBOR Loans, any Borrower has failed to elect, or is not permitted to elect, a new Interest Period to be applicable to such LIBOR Loans as provided above, such Borrower shall be deemed to have elected to convert such LIBOR Loans into Base Rate Loans effective as of the expiration date of such current Interest Period.

Appears in 4 contracts

Samples: Credit Agreement (CVR Partners, Lp), Credit Agreement (CVR Refining, LP), Credit Agreement

Interest Periods. When At the time it gives any Notice of Borrowing or Notice of Conversion in respect of the making of, or conversion into, any Fixed Rate Loan (in the case of the initial Interest Period applicable thereto) or on the third Business Day prior to the expiration of an Interest Period applicable to any such LIBOR Loan or one Business Day prior to the expiration of an Interest Period applicable to any such IBOR Loan (in the case of any subsequent Interest Period), the relevant Borrower requests any Eurodollar Rate Borrowingshall have the right to elect, Borrower may elect by giving the Administrative Agent notice thereof, the interest period (each an "INTEREST PERIODInterest Period") applicable theretoto such Fixed Rate Loan, which Interest Period shall bebe (x) in the case of a LIBOR Loan, a one month period, and (y) in the case of an IBOR Loan, a period of up to thirty days, at the option of such Borrower's option and subject to availability, one, two, three, or six months; provided, however, provided that: (ai) all Fixed Rate Loans comprising a Borrowing shall at all times have the same Interest Period; (ii) the initial Interest Period for a Eurodollar any Fixed Rate Borrowing Loan shall commence on the date of Borrowing of such Borrowing Revolving Loan (including the date of any conversion thereto), thereof into a Revolving Loan of a different Type) and each Interest Period occurring thereafter in respect of such Borrowing Revolving Loan shall commence on the day on which the next preceding Interest Period applicable thereto expires; (biii) if any Interest Period for relating to a Eurodollar Rate Borrowing LIBOR Loan begins on a day for which there is no numerically corresponding Business Day day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next last Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such calendar month; (iv) if any Interest Period (unless such date would be in otherwise expire on a different calendar month from what would have been the month at the end of such Interest Period, or unless there day which is no numerically corresponding day in the calendar month at the end of the Interest Period; whereuponnot a Business Day, such Interest Period shall end expire on the last next succeeding Business Day, provided that if any Interest Period for a LIBOR Loan would otherwise expire on a day which is not a Business Day but is a day of the month after which no further Business Day occurs in the calendar month at the end of such month, such Interest Period)Period shall expire on the next preceding Business Day; (cv) no Interest Period shall extend beyond the Expiry Date; and (vi) no Interest Period may be chosen with respect to any portion of the Principal Debt which would extend beyond the scheduled repayment date (including any dates on upon which mandatory prepayments the Loans to such Borrower are required to be made) for repaid pursuant to Section 3.02(c). If, upon the expiration of any Interest Period applicable to a Borrowing of Fixed Rate Loans, the respective Borrower has failed to elect, or is not permitted to elect, a new Interest Period to be applicable to such portion Fixed Rate Loans as provided in this Section 1.09, such Borrower shall be deemed to have elected to convert such Fixed Rate Loans into Base Rate Loans effective as of the Principal Debt; and (d) no more than an aggregate expiration date of five (5) such current Interest Periods shall be in effect at one timePeriod.

Appears in 3 contracts

Samples: Credit Agreement (Galaxy Fund /De/), Credit Agreement (Galaxy Vip Fund), Credit Agreement (Galaxy Fund Ii)

Interest Periods. When The Borrower requests any Eurodollar Rate Borrowing, shall have the option to select and advise the Agent of the Interest Periods the Borrower may elect the interest period has selected for Revolving Loans not less than three (each an "INTEREST PERIOD"3) applicable thereto, which shall be, at Borrower's option and subject Cleveland Banking Days prior to availability, one, two, three, or six months; provided, however, that: (a) the initial Restatement Effective Date, for the Revolving Loans to be made on the Restatement Effective Date, (b) each Interest Period for a Eurodollar Adjustment Date, (c) the date any Revolving Loans are to be made subsequent to the Restatement Effective Date, and (d) any date on which the Borrower desires to have any portion of the principal of the Revolving Loans not subject to the LIBOR Rate Borrowing shall commence Option become subject to the LIBOR Rate Option, provided, that Revolving Loans subject to the Base Rate Option may not be converted into Revolving Loans subject to the LIBOR Rate Option and Revolving Loans subject to the LIBOR Rate Option may not be continued as Revolving Loans subject to the LIBOR Rate Option if an Event of Default is in existence on the date of such Borrowing conversion or continuation. Each Interest Period selected shall apply to not less than Five Hundred Thousand Dollars (including $500,000) in principal amount of the date of Revolving Loans; provided, that at no time shall there be more than ten (10) Revolving Loans outstanding at any conversion thereto)time, and whether subject to the Base Rate Option or the LIBOR Rate Option. The principal amount subject to each Interest Period occurring thereafter in shall be deemed distributed among the Banks, based on their Pro rata shares, with respect of to the respective Revolving Loans to which such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if applies. If the Borrower fails to timely select any Interest Period for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, the Borrower shall be deemed to have elected to continue such Interest Period shall end on Loan as a Loan subject to the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar LIBOR Rate Option with a one (1) month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end effective as of the expiration date of such current Interest Period; whereupon, such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period); (c) no Interest Period may be chosen with respect to any portion of the Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debt; and (d) no more than an aggregate of five (5) Interest Periods shall be in effect at one time.

Appears in 3 contracts

Samples: Credit Agreement (Forest City Enterprises Inc), Credit Agreement (Forest City Enterprises Inc), Credit Agreement (Forest City Enterprises Inc)

Interest Periods. When Borrower requests any Eurodollar Rate Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which shall be, at Borrower's option and subject to availabilityoption, one, two, three, or six monthsmonths (or other periods, if requested by Borrower and available from the Lenders); providedPROVIDED, howeverHOWEVER, that: (a) the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless UNLESS such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless UNLESS there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period); (c) no Interest Period may be chosen with respect to any portion of the Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debt; and (d) no more than an aggregate of five six (56) Interest Periods shall be in effect at one time.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Dobson Communications Corp), 364 Day Revolving Credit and Term Loan Agreement (Dobson Communications Corp)

Interest Periods. When Borrower requests any Eurodollar Rate Borrowing or a Fixed Rate Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which shall be, at Borrower's option and subject to availabilityoption, one, two, three, or six monthsmonths or, if available to all Lenders, nine or twelve months (in respect of any Eurodollar Rate Borrowing) and any period of up to six (6) months (with respect to any Fixed Rate Borrowing); provided, however, that: (a) the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period); (c) no Interest Period may be chosen with respect to any portion of the Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debt; and (d) no more than an aggregate of five ten (510) Interest Periods shall be in effect at one time.

Appears in 2 contracts

Samples: Credit Agreement (Mci Worldcom Inc), Credit Agreement (Worldcom Inc /Ga/)

Interest Periods. When Borrower requests any Eurodollar Rate Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which shall be, at Borrower's option and subject to availabilityoption, one, two, three, or six monthsmonths (or other periods, if requested by Borrower and available from the Lenders); providedPROVIDED, howeverHOWEVER, that: (a) the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless UNLESS such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless UNLESS there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period); (c) no Interest Period may be chosen with respect to any portion of the Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debt; and (d) no more than an aggregate of five eight (5) 8) Interest Periods shall be in effect at one time.

Appears in 2 contracts

Samples: Credit Agreement (Dobson Communications Corp), Credit Agreement (Dobson Sygnet Communications Co)

Interest Periods. When Borrower requests any Eurodollar Rate Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which shall be, at Borrower's option and subject to availabilityoption, oneone (1) month or two (2), two, threethree (3), or six (6) months, in each case to the extent available from each Lender; provided, however, that: (a) the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date of such Borrowing (including the date of any conversion Conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, then such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period); (c) no Interest Period may be chosen with respect to any portion of the Total Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Total Principal Debt; and (d) no more than an aggregate of five (5) Interest Periods shall be in effect at one time.

Appears in 2 contracts

Samples: Credit Agreement (Centex Corp), Credit Agreement (Centex Development Co Lp)

Interest Periods. When Each Interest Period selected by the Borrower requests any Eurodollar pursuant to the terms of this Interest Rate BorrowingElection Rider shall commence on the date selected and shall end on the last day of the time period the Borrower shall elect, Borrower may elect in each case as set forth in the interest period (each an "INTEREST PERIOD") applicable thereto, which shall be, at Borrower's option and subject to availability, one, two, three, or six monthsdefinition of Interest Period in Paragraph 2.1 hereof; provided, however, that: that (a) the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins that would otherwise end on a day for which there is no numerically corresponding not a Business Day in shall be extended to the calendar month at the end of next Business Day unless such extension would carry such Interest PeriodPeriod into the next month, in which event such Interest Period shall end on the next preceding Business Day; (b) any Interest Period that begins on the last Business Day immediately following what otherwise would have been such numerically corresponding day in the of a calendar month at the end of such Interest Period (unless such or on a date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless for which there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, during which such Interest Period is to end), shall (subject to clause (a) above) end on the last Business Day in of such calendar month; and (c) any Interest Period that would otherwise extend beyond the calendar month Expiration Date shall end on the Expiration Date. If the LIBOR Rate for an Interest Period is greater or less than the LIBOR Rate for the immediately preceding Interest Period, then the rate of interest paid by the Borrower will be adjusted accordingly effective on the first day of such Interest Period. Notwithstanding the terms of any other provision of this Note or the Loan Agreement, if an LIBOR Rate Balance is subject to a rate swap contract, then, with respect to such LIBOR Rate Balance and for the entire period of time that such LIBOR Rate Balance is subject to a rate swap contract, at the end of each Interest Period applicable to such LIBOR Rate Balance the Borrower shall automatically be deemed to have selected a LIBOR Rate Balance and the same Interest Period as was in effect for the Interest Period just ended, and such deemed selection may not be revoked or otherwise changed at any time that such Available Rate Balance is subject to a rate swap contract. If the LIBOR Rate for such LIBOR Rate Balance in the following Interest Period is greater or less than the LIBOR Rate for the immediately preceding Interest Period, then the rate of interest paid by the Borrower with respect to such LIBOR Rate Balance will be adjusted accordingly effective on the first day of such Interest Period); (c) no Interest Period may be chosen with respect to any portion of the Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debt; and (d) no more than an aggregate of five (5) Interest Periods shall be in effect at one time.

Appears in 2 contracts

Samples: Term Note (Point.360), Term Note (Point.360)

Interest Periods. When Borrower requests At the time it gives any Eurodollar Rate Notice of Borrowing, ---------------- Notice of Conversion or Notice of Continuation in respect of the making of, or conversion into, or continuation of any LIBOR Loan (in the case of the initial Interest Period applicable thereto), the Borrower may elect shall have the right to elect, by giving the Agent notice thereof, the interest period (each an "INTEREST PERIODInterest -------- Period") applicable theretoto such LIBOR Loan, which shall beInterest Period shall, at the ------ option of the Borrower's option and subject to availability, in the case of a LIBOR Loan, be a one, two, three, three or six months; providedmonth period, however, provided that: (a) all LIBOR Loans comprising a Borrowing shall at all times have the same Interest Period except as otherwise required by Section 2.10(b); (b) the initial Interest Period for a Eurodollar Rate Borrowing any LIBOR Loan shall commence on the date of Borrowing of such Borrowing Loan (including the date of any conversion thereto), thereof into a Loan of a different Type) and each Interest Period occurring thereafter in respect of such Borrowing Loan shall commence on the day on which the next preceding Interest Period applicable thereto expires; (bc) if any Interest Period for relating to a Eurodollar Rate Borrowing LIBOR Loan begins on a day for which there is no numerically corresponding Business Day day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next last Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such calendar month; (d) if any Interest Period (unless such date would be in otherwise expire on a different calendar month from what would have been the month at the end of such Interest Period, or unless there day which is no numerically corresponding day in the calendar month at the end of the Interest Period; whereuponnot a Business Day, such Interest Period shall end expire on the last next succeeding Business Day, provided that if any Interest Period would otherwise expire on a day which is not a Business Day but is a day of the month after which no further Business Day occurs in the calendar month at the end of such month, such Interest Period)Period shall expire on the next preceding Business Day; and (ce) no Interest Period may be chosen with respect to any portion of the Principal Debt which would shall extend beyond the scheduled repayment date (including Loan Maturity Date or, in the case of Loans subject to payment in accordance with Section 2.12(b), the Commitment Expiration Date. If upon the expiration of any dates on which mandatory prepayments are required Interest Period applicable to be madea LIBOR Loan, the Borrower has failed to deliver to the Agent a Notice of Continuation in accordance with Section 2.6(c) for such portion LIBOR Loan, the Borrower shall be deemed to have elected to convert such Loan into a Base Rate Loan effective as of the Principal Debt; and (d) no more than an aggregate expiration date of five (5) such current Interest Periods shall be in effect at one timePeriod.

Appears in 2 contracts

Samples: Credit Agreement (Wireless Facilities Inc), Credit Agreement (Wireless Facilities Inc)

Interest Periods. When At the time it gives any Notice of Borrowing in respect of the making of any Fixed Rate Loan, each Borrower requests any Eurodollar Rate Borrowingshall have the right to elect, Borrower may elect by giving the Bank notice thereof, the interest period (each an "INTEREST PERIODInterest Period") applicable theretoto such Fixed Rate Loan, which shall beInterest Period shall, at the option of such Borrower's option and subject to availability, in the case of a LIBOR Loan, be a one, two, three, three or six months; providedmonth period, howeverand in the case of a NIBOR Loan be a period of up to thirty days, provided that: (ai) all Fixed Rate Loans comprising a Borrowing shall at all times have the same Interest Period; (ii) the initial Interest Period for a Eurodollar any Fixed Rate Borrowing Loan shall commence on the date of Borrowing of such Borrowing Loan (including the date of any conversion thereto), thereof into a Loan of different Type) and each Interest Period occurring thereafter in respect of such Borrowing Loan 7 shall commence on the day on which the next preceding Interest Period applicable thereto expires; (biii) if any Interest Period for relating to a Eurodollar Fixed Rate Borrowing Loan begins on a day for which there is no numerically corresponding Business Day day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next last Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such calendar month; (iv) if any Interest Period (unless such date would be in otherwise expire on a different calendar month from what would have been the month at the end of such Interest Period, or unless there day which is no numerically corresponding day in the calendar month at the end of the Interest Period; whereuponnot a Business Day, such Interest Period shall end expire on the last next succeeding Business Day, provided that if any Interest Period for a LIBOR Loan would otherwise expire on a day which is not a Business Day but is a day of the month after which no further Business Day occurs in the calendar month at the end of such month, such Interest Period)Period shall expire on the next preceding Business Day; (cv) no Interest Period may be chosen with respect to any portion of the Principal Debt which would shall extend beyond the scheduled repayment date (including Expiry Date. If upon the expiration of any dates on which mandatory prepayments are required Interest Period applicable to a Fixed Rate Loan, the Borrower has failed to elect a new Interest Period to be made) for applicable to such portion Fixed Rate Loan as provided above, the Borrower shall be deemed to have elected to convert such Loan into a Base Rate Loan effective as of the Principal Debt; and (d) no more than an aggregate expiration date of five (5) such current Interest Periods shall be in effect at one timePeriod.

Appears in 2 contracts

Samples: Credit Agreement (Sierra Prime Income Fund), Credit Agreement (Sierra Prime Income Fund)

Interest Periods. When At the time it gives any Notice of Borrowing or Notice of Conversion in respect of the making of, or conversion into, a Borrowing of Eurodollar Loans (in the case of the initial Interest Period applicable thereto) or on the third Business Day prior to the expiration of an Interest Period applicable to such a Borrowing (in the case of subsequent Interest Periods), the Borrower requests any Eurodollar Rate Borrowingshall have the right to elect, Borrower may elect by giving the Administrative Agent notice thereof, the interest period (each an "INTEREST PERIODInterest Period") applicable theretoto such Borrowing, which shall beInterest Period shall, at the option of the Borrower's option and subject to availability, be either a one, two, three, three or six months; providedmonth period, however, provided that: (ai) all Loans comprising a Borrowing shall have the same Interest Period; (ii) the initial Interest Period for a any Borrowing of Eurodollar Rate Borrowing Loans shall commence on the date of such Borrowing (including the date of any conversion thereto), from a Borrowing of Base Rate Loans) and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (biii) if any Interest Period for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next last Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such calendar month; (iv) if any Interest Period (unless such date would be in otherwise expire on a different calendar month from what would have been the month at the end of such Interest Period, or unless there day which is no numerically corresponding day in the calendar month at the end of the Interest Period; whereuponnot a Business Day, such Interest Period shall end expire on the last next succeeding Business Day; provided, however, that if any Interest Period would otherwise expire on a day which is not a Business Day but is a day of the month after which no further Business Day occurs in the calendar month at the end of such month, such Interest Period)Period shall expire on the next preceding Business Day; (cv) no Interest Period may be chosen with in respect to any portion of the Principal Debt which would a Borrowing of Loans shall extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal DebtMaturity Date; and (dvi) no more than an aggregate Interest Period for Eurodollar Loans may be selected at any time that a Default or Event of five (5) Default then exists. If prior to the expiration of any Interest Periods Period, the Borrower has failed to elect or is prohibited from electing a new Interest Period to be applicable to such Borrowing as provided above, if such Borrowing is a Borrowing of Eurodollar Loans, the Borrower shall be in effect at one timedeemed to have elected to convert such Borrowing into a Borrowing of Base Rate Loans effective as of the expiration date of such current Interest Period.

Appears in 2 contracts

Samples: Credit Agreement (Interlake Corp), Credit Agreement (Interlake Corp)

Interest Periods. When Borrower requests any Eurodollar Rate BorrowingIn connection with the making or continuation of, Borrower may elect the or conversion into, each Borrowing of LIBOR Loans, Borrowers shall select an interest period (each an "INTEREST PERIOD"“Interest Period”) to be applicable theretoto such LIBOR Loan, which interest period shall becommence on the date such LIBOR Loan is made and shall end on a numerically corresponding day in the first, at Borrower's option and subject to availability, one, two, three, second or six monthsthird month thereafter; provided, however, that: (ai) the initial Interest Period for a Eurodollar Rate Borrowing LIBOR Loan shall commence on the date of such Borrowing borrowing (including the date of any conversion thereto), from a Loan of another Type) and each Interest Period occurring thereafter in respect of such Borrowing Revolving Loan shall commence on the day date on which the next preceding Interest Period applicable thereto expires; (bii) if any Interest Period for would otherwise expire on a Eurodollar Rate Borrowing day that is not a Business Day, such Interest Period shall expire on the next succeeding Business Day, provided that, if any Interest Period in respect of LIBOR Loans would otherwise expire on a day that is not a Business Day but is a day of the month after which no further Business Day occurs in such month, such Interest Period shall expire on the immediately preceding Business Day; (iii) any Interest Period that begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end expire on the last Business Day in the calendar month at the end of such Interest Period)calendar month; (civ) no Interest Period may be chosen with respect to any portion of the Principal Debt principal of a Loan shall extend beyond a date on which would a Borrower is required to make a scheduled payment of such portion of principal; and (v) no Interest Period shall extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion last day of the Principal Debt; and (d) no more than an aggregate of five (5) Interest Periods shall be in effect at one timeTerm.

Appears in 2 contracts

Samples: General Intercreditor Agreement (Euramax International, Inc.), Senior Secured Revolving Credit and Guaranty Agreement (Euramax International, Inc.)

Interest Periods. When At the time the Borrower requests gives any Eurodollar Rate BorrowingNotice of Borrowing or Notice of Conversion/Continuation in respect of the making of, or conversion into, any LIBORSOFR Loan (in the case of the initial Interest Period applicable thereto) or prior to 1:00 p.m. (New York City time) on the third Business Day prior to the expiration of an Interest Period applicable to such LIBORSOFR Loan (in the case of any subsequent Interest Period), the Borrower may shall have the right to elect the interest period (each each, an "INTEREST PERIOD"“Interest Period”) applicable theretoto such LIBORSOFR Loan, which shall beInterest Period shall, at the option of the Borrower's option and subject to availability, be a one, twotwo (only until December 31, 2021), three, six or, if approved by each Lender with Term Loans and/or Term Loan Commitments under the relevant Tranche, twelve month period or six months; providedany shorter period, however, that: provided that (in each case): (a) all LIBORSOFR Loans comprising a Borrowing shall at all times have the same Interest Period; (b) the initial Interest Period for a Eurodollar Rate Borrowing any LIBORSOFR Loan shall commence on the date of Borrowing of such Borrowing LIBORSOFR Loan (including the date of any conversion thereto), thereto from a Base Rate Loan) and each Interest Period occurring thereafter in respect of such Borrowing LIBORSOFR Loan shall commence on the day on which the next preceding Interest Period applicable thereto expires; (bc) if any Interest Period for a Eurodollar Rate Borrowing LIBORSOFR Loan begins on a day for which there is no numerically corresponding Business Day day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next last Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such calendar month; (d) if any Interest Period (unless such date for a LIBORSOFR Loan would be in otherwise expire on a different calendar month from what would have been the month at the end of such Interest Period, or unless there day which is no numerically corresponding day in the calendar month at the end of the Interest Period; whereuponnot a Business Day, such Interest Period shall end expire on the last next succeeding Business Day; provided, however, that if any Interest Period for a LIBORSOFR Loan would otherwise expire on a day which is not a Business Day but is a day of the month after which no further Business Day occurs in such month, such Interest Period shall expire on the calendar month next preceding Business Day; (e) upon notice to the Borrower from the Administrative Agent given at the end request of such Interest Period); (c) the Required Lenders, after the occurrence and during the continuance of any Significant Event of Default, no Interest Period may be chosen with respect to any portion of the Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debtselected; and (df) no more than an aggregate Interest Period in respect of five (5) Interest Periods any Borrowing of any Tranche of Loans shall be in effect at selected which extends beyond the Maturity Date for such Tranche of Loans. If by 1:00 p.m. (New York City time) on the third Business Day prior to the expiration of any Interest Period applicable to a Borrowing of LIBORSOFR Loans, the Borrower has failed to elect, or is not permitted to elect, a new Interest Period to be applicable to such LIBORSOFR Loans as provided above, the Borrower shall be deemed to have elected to continue such LIBORSOFR Loans as LIBORSOFR Loans with an Interest Period of one time.month effective as of the expiration date of such current Interest Period. Section 2.11

Appears in 1 contract

Samples: Credit and Guarantee Agreement (Janus International Group, Inc.)

Interest Periods. When Borrower requests any In connection with each Eurodollar Rate BorrowingLoan, Borrower may, pursuant to the applicable Notice of Borrowing or Notice of Conversion/ Continuation, as the case may elect the be, select an interest period (each an "INTEREST PERIODInterest Period") to be applicable theretoto such Loan, which Interest Period shall be, at Borrower's option and subject to availabilityoption, either a one, two, three, three or six monthsmonth period; provided, however, provided that: (ai) the initial Interest Period for a any Eurodollar Rate Borrowing Loan shall commence on the date of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter Funding Date in respect of such Borrowing Loan, in the case of a Loan initially made as a Eurodollar Rate Loan, or on the date specified in the applicable Notice of Conversion/Continuation, in the case of a Loan converted to a Eurodollar Rate Loan; (ii) in the case of immediately successive Interest Periods applicable to a Eurodollar Rate Loan continued as such pursuant to a Notice of Conversion/Continuation, each successive Interest Period shall commence on the day on which the next immediately preceding Interest Period applicable thereto expires; (biii) if an Interest Period would otherwise expire on a day that is not a Business Day, such Interest Period shall expire on the next succeeding Business Day; provided that, if any Interest Period for would otherwise expire on a Eurodollar Rate Borrowing day that is not a Business Day but is a day of the month after which no further Business Day occurs in such month, such Interest Period shall expire on the next preceding Business Day; (iv) any Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the such Interest Period; whereupon) shall, such Interest Period shall subject to clause (v) of this Section 2.2B, end on the last Business Day in the of a calendar month at the end of such Interest Period)month; (cv) no Interest Period may be chosen with respect to any portion of the Principal Debt which would Loans shall extend beyond the scheduled repayment date Maturity Date; (including vi) no Interest Period with respect to any dates on which mandatory prepayments are required to be made) for such portion of the Principal DebtLoans shall extend beyond the date on which a permanent reduction of the Commitments is scheduled to occur unless the sum of (a) the aggregate principal amount of Loans that are Base Rate Loans plus (b) the aggregate principal amount of Loans that are Eurodollar Rate Loans with Interest Periods expiring on or before such date plus (c) the excess of the Commitments then in effect over the Total Utilization as of such date equals or exceeds the permanent reduction of the Commitments that is scheduled to occur on such date; (vii) there shall be no more than ten Interest Periods out- standing at any time; and (dviii) no more than in the event Borrower fails to specify an aggregate Interest Period for any Eurodollar Rate Loan in the applicable Notice of five (5) Interest Periods Borrowing or Notice of Conversion/Continuation, Borrower shall be in effect at deemed to have selected an Interest Period of one time.month. C.

Appears in 1 contract

Samples: Credit Agreement (Circus Circus Enterprises Inc)

Interest Periods. When Borrower requests any Eurodollar Rate Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD"“Interest Period”) applicable thereto, which shall be, at Borrower's option and subject to availability’s option, oneone (1) month or two (2), two, threethree (3), or six (6) months, in each case to the extent available from each Lender; provided, however, that: (a) the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date of such Borrowing (including the date of any conversion Conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, then such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period); (c) no Interest Period may be chosen with respect to any portion of the Total Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Total Principal Debt; and (d) no more than an aggregate of five (5) Interest Periods shall be in effect at one time.

Appears in 1 contract

Samples: Credit Agreement (Centex Corp)

Interest Periods. When Borrower requests At the time it gives any Eurodollar Notice of Borrowing or ---------------- Notice of Conversion in respect of the making of, or conversion into, any Fixed Rate BorrowingLoan (in the case of the initial Interest Period applicable thereto) or on the third Business Day prior to the expiration of an Interest Period applicable to any such LIBOR Loan or one Business Day prior to the expiration of an Interest Period applicable to any such IBOR Loan (in the case of any subsequent Interest Period), Borrower may elect the Borrowers shall have the right to elect, by giving the Operations Agent notice thereof, the interest period (each an "INTEREST PERIODInterest Period") applicable theretoto such Fixed Rate Loan, which Interest Period shall bebe (i) in the case of a LIBOR Loan, a one month period, and (ii) in the case of an IBOR Loan, a period of up to thirty days, at the option of such Borrower's option and subject to availability, one, two, three, or six months; provided, however, provided that: (av) all Fixed Rate Loans comprising a Borrowing shall at all times have the same Interest Period; (w) the initial Interest Period for a Eurodollar any Fixed Rate Borrowing Loan shall commence on the date of Borrowing of such Borrowing Revolving Loan (including the date of any conversion thereto), thereof into a Revolving Loan of a different Type) and each Interest Period occurring thereafter in respect of such Borrowing Revolving Loan shall commence on the day on which the next preceding Interest Period applicable thereto expires; (bx) if any Interest Period for relating to a Eurodollar Rate Borrowing LIBOR Loan begins on a day for which there is no numerically corresponding Business Day day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next last Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such calendar month; (y) if any Interest Period (unless such date would be in otherwise expire on a different calendar month from what would have been the month at the end of such Interest Period, or unless there day which is no numerically corresponding day in the calendar month at the end of the Interest Period; whereuponnot a Business Day, such Interest Period shall end expire on the last next succeeding Business Day, provided that if any Interest Period for a LIBOR Loan would otherwise expire on a day which is not a Business Day but is a day of the month after which no further Business Day occurs in the calendar month at the end of such month, such Interest Period)Period shall expire on the next preceding Business Day; and (cz) no Interest Period may be chosen with respect to any portion of the Principal Debt which would shall extend beyond the scheduled repayment date (including Expiry Date. If, upon the expiration of any dates on which mandatory prepayments are required Interest Period applicable to a Borrowing of Fixed Rate Loans, the respective Borrower has failed to elect, or is not permitted to elect, a new Interest Period to be made) for applicable to such portion Fixed Rate Loans as provided in this Section 1.09, such Borrower shall be deemed to have elected to convert such Fixed Rate Loans into Base Rate Loans effective as of the Principal Debt; and (d) no more than an aggregate expiration date of five (5) such current Interest Periods shall be in effect at one timePeriod.

Appears in 1 contract

Samples: Credit Agreement (Nicholas Applegate Fund Inc)

Interest Periods. When At the time the Borrower requests any Eurodollar Rate gives a Notice of Borrowing or Notice of Conversion or Continuation in respect of the making of, or conversion into or continuation as, a Borrowing of LIBOR Loans in accordance with Section 2.6(a), the Borrower shall give the Administrative Agent written notice of the Interest Period applicable to such Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which shall beInterest Period shall, at the option of the Borrower's option and subject to availability, be a one, two, three, three or six months; providedmonth period (or if approved by all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions, however, thata twelve month or shorter period (but not one-week)). Notwithstanding anything to the contrary contained above: (ac) the initial Interest Period for a Eurodollar Rate any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion thereto), from a Borrowing of ABR Loans) and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (bd) if any Interest Period for relating to a Eurodollar Rate Borrowing of LIBOR Loans begins on the last Business Day of a calendar month or begins on a day for which there is no numerically corresponding Business Day day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in of the calendar month at the end of such Interest Period); (ce) no if any Interest Period may be chosen with would otherwise expire on a day that is not a Business Day, such Interest Period shall expire on the next succeeding Business Day; provided that if any Interest Period in respect to any portion of a LIBOR Loan would otherwise expire on a day that is not a Business Day but is a day of the Principal Debt month after which no further Business Day occurs in such month, such Interest Period shall expire on the immediately preceding Business Day; and (f) the Borrower shall not be entitled to elect any Interest Period in respect of any LIBOR Loan if such Interest Period would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for Maturity Date of such portion of the Principal Debt; and (d) no more than an aggregate of five (5) Interest Periods shall be in effect at one time.Loan. 2.10

Appears in 1 contract

Samples: Credit Agreement (Academy Sports & Outdoors, Inc.)

Interest Periods. When Borrower requests any Eurodollar Rate Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which shall be, at Borrower's option and subject to availabilityoption, one, two, three, or six months, or other periods requested by Borrower to the extent available from all Lenders; provided, however, that: (a) the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period); (c) no Interest Period may be chosen with respect to any portion of the Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debt; and (d) no more than an aggregate of five (5) Interest Periods shall be in effect at one time.mandatory

Appears in 1 contract

Samples: Revolving Credit Agreement (Intermedia Communications Inc)

Interest Periods. When Borrower requests At the time it gives any Notice of Borrowing or Notice of Conversion in respect of the making of, or conversion into, any Eurodollar Rate BorrowingLoan (in the case of the initial Interest Period applicable thereto) or on the third Business Day prior to the expiration of an Interest Period applicable to such Eurodollar Rate Loan (in the case of any subsequent Interest Period), each relevant Borrower may elect shall have the right to elect, by giving the Agent notice thereof, the interest period (each an "INTEREST PERIOD"“Interest Period”) applicable theretoto such Eurodollar Rate Loan, which shall beInterest Period shall, at the option of such Borrower's option and subject to availability, be a one, two, three, three or six months; providedmonth period, however, provided that: (ai) all Eurodollar Rate Loans comprising a Borrowing shall at all times have the same Interest Period except as otherwise required by Section 2.10(b); (ii) the initial Interest Period for a any Eurodollar Rate Borrowing Loan shall commence on the date of Borrowing of such Borrowing Loan (including the date of any conversion thereto), thereof into a Loan of a different Type) and each Interest Period occurring thereafter in respect of such Borrowing Loan shall commence on the day on which the next preceding Interest Period applicable thereto expires; (biii) if any Interest Period for relating to a Eurodollar Rate Borrowing Loan begins on a day for which there is no numerically corresponding Business Day day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next last Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such calendar month; (iv) if any Interest Period (unless such date would be in otherwise expire on a different calendar month from what would have been the month at the end of such Interest Period, or unless there day which is no numerically corresponding day in the calendar month at the end of the Interest Period; whereuponnot a Business Day, such Interest Period shall end expire on the last next succeeding Business Day, provided that if any Interest Period for a Eurodollar Rate Loan would otherwise expire on a day which is not a Business Day but is a day of the month after which no further Business Day occurs in the calendar month at the end of such month, such Interest Period)Period shall expire on the next preceding Business Day; (cv) no Interest Period may be chosen with respect to any portion of the Principal Debt which would shall extend beyond the scheduled repayment Expiry Date; and (vi) no Interest Period in respect of the Revolving Loans comprising a Borrowing shall extend beyond any date (including any dates on upon which a mandatory prepayments are reduction of the Total Commitment will be required to be made) for made under Section 3.03 if the aggregate principal amount of Loans which have Interest Periods which will expire after such portion date will be in excess of the Principal Debt; and (d) no more than an aggregate Total Commitment after giving effect to such reduction. If upon the expiration of five (5) any Interest Periods Period applicable to a Eurodollar Rate Loan, the relevant Borrower has failed to elect a new Interest Period to be applicable to such Eurodollar Rate Loan as provided in this Section 2.09, such Borrower shall be in effect at one timedeemed to have elected to convert such Loan into a Base Rate Loan effective as of the expiration date of such current Interest Period.

Appears in 1 contract

Samples: Credit Agreement (Financial Security Assurance Holdings LTD)

Interest Periods. When Borrower requests any Eurodollar Rate Borrowing or a Fixed Rate Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which shall be, at Borrower's option and subject to availabilityoption, one, two, three, or six monthsmonths (in respect of any Eurodollar Rate Borrowing) and any period of up to six (6) months (with respect to any Fixed Rate Borrowing); provided, however, that: (a) the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period); (c) no Interest Period may be chosen with respect to any portion of the Facility B Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Facility B Principal Debt; and (d) no more than an aggregate of five ten (510) Interest Periods (including, without limitation, Interest Periods for Competitive Borrowings and Interest Periods under Facility A) shall be in effect at one time.

Appears in 1 contract

Samples: Credit and Term Loan Agreement (Worldcom Inc /Ga/)

Interest Periods. When Borrower requests any Eurodollar Rate Borrowing or a Fixed Rate Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which shall be, at Borrower's option and subject to availabilityoption, one, two, three, or six monthsmonths or, if available to all Lenders, nine or twelve months (in respect of any Eurodollar Rate Borrowing) and any period of up to six (6) months (with respect 364-DAY REVOLVING CREDIT AGREEMENT to any Fixed Rate Borrowing); providedPROVIDED, howeverHOWEVER, thatTHAT: (a) the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless UNLESS such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless UNLESS there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period); (c) no Interest Period may be chosen with respect to any portion of the Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debt; and (d) no more than an aggregate of five ten (510) Interest Periods shall be in effect at one time.

Appears in 1 contract

Samples: Day Revolving Credit Agreement (Worldcom Inc/ga//)

Interest Periods. When At the time the Borrower requests any Eurodollar gives a Notice of Borrowing or Notice of Conversion or Continuation in respect of the making of, or conversion into, or continuation as, a Borrowing of Fixed Rate Loans (in the case of the initial Interest Period applicable thereto) on or prior to 1:00 p.m. (New York City time) on the third Business Day prior to the expiration of an Interest Period applicable to a Borrowing of Fixed Rate Loans, the Borrower shall have the right to elect, by giving the Administrative Agent written notice, the Interest Period applicable to such Borrowing, Borrower may elect which Interest Period shall be the interest period commencing on the date of such Borrowing and ending on the numerically corresponding day (each an "INTEREST PERIOD"or, if there is no numerically corresponding day, on the last Business Day) applicable thereto, which shall be, at Borrower's option and subject to availabilityin the calendar month that is (x) for Fixed Rate Loans not denominated in Pounds Sterling, one, twothree or (other than for Fixed Rate Loans denominated in Canadian dollars) six months thereafter (or, threeif agreed to by all relevant Lenders participating in the relevant Credit Facility, twelve months thereafter or six months; providedany other period, howeverincluding a period shorter than one month) and (y) for Fixed Rate Loans denominated in Pounds Sterling, thatthree months thereafter. Notwithstanding anything to the contrary contained above: (a) the initial Interest Period for a Eurodollar Rate any Borrowing of Eurocurrency Loans or Term SOFR Loans shall commence on the date of such Borrowing (including the date of any conversion thereto), from a Borrowing of ABR Loans) and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for would end on a Eurodollar Rate day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on the next preceding Business Day; (c) if any Interest Period relating to a Borrowing of Eurocurrency Loans or Term SOFR Loans begins on the last Business Day of a calendar month or begins on a day for which there is no numerically corresponding Business Day day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in of the calendar month at the end of such Interest Period); (cd) no in the case of Eurocurrency Loans and Term SOFR Loans, interest shall accrue from and including the first day of an Interest Period may to but excluding the last day of such Interest Period; and (e) the Borrower shall not be chosen with entitled to elect any Interest Period in respect to of any portion of the Principal Debt which Eurocurrency Loan or Term SOFR Loan if such Interest Period would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for applicable Maturity Date of such portion of the Principal Debt; and (d) no more than an aggregate of five (5) Interest Periods shall be in effect at one time.Loan. -112- #95203802v2296160609v3 #96160609v5

Appears in 1 contract

Samples: Credit Agreement (Snap One Holdings Corp.)

Interest Periods. When Borrower requests any Eurodollar Rate Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which shall be, at Borrower's option and subject to availabilityoption, oneone (1) month or two (2), two, threethree (3), or six (6) months, in each case to the extent available from each Lender (or other periods, if requested by Borrower and agreed to by each Lender); providedPROVIDED, howeverHOWEVER, that: (a) the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date of such Borrowing (including the date of any conversion Conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, then such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period); (c) no Interest Period may be chosen with respect to any portion of the Total Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal DebtTermination Date; and (d) no more than an aggregate of five ten (510) Interest Periods shall be in effect at one time.

Appears in 1 contract

Samples: Revolving Credit Agreement (Protection One Alarm Monitoring Inc)

Interest Periods. When Borrower requests (a) As to the making of any Eurodollar Rate BorrowingLIBOR Loan, Borrower may elect at the time Comercial gives the Notice of Borrowing in respect of the making of such LIBOR Loan (in the case of the initial Interest Period applicable thereto) or on the third Business Day prior to the expiration of an Interest Period applicable to such LIBOR Loan (in the case of any subsequent Interest Period), Comercial shall have the right to elect, by giving the Administrative Agent notice thereof, the interest period (each an the "INTEREST PERIODInterest Period") applicable theretoto such LIBOR Loan, which shall beInterest Period shall, at Borrower's the option of Comercial, be a one-, two-, three- or, if available and subject to availabilityin the discretion of the Administrative Agent, one, two, three, or six monthssix-month period; provided, howeverthat (i) all LIBOR Loans comprising a Borrowing shall at all times have the same Interest Period, that: (aii) the initial Interest Period for a Eurodollar Rate Borrowing the LIBOR Loans shall commence on the date Borrowing Date of such Borrowing (including the date of any conversion thereto), LIBOR Loans and each Interest Period occurring immediately thereafter in respect of such Borrowing LIBOR Loans (A) shall commence on (and include) the day on which the next preceding Interest Period applicable thereto expires; , and (bB) if any shall not include the day on which the Interest Period for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest PeriodLIBOR Loans expires, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period); (ciii) no Interest Period may be chosen selected at any time when a Default or Event of Default is then in existence or when such Interest Period extends beyond the relevant Final Maturity Date, (iv) no Interest Period with respect to the Tranche A Term Loans or the Tranche B Loans shall extend beyond any portion date upon which a repayment of the Principal Debt which would extend beyond Tranche A Term Loans or the scheduled repayment date (including any dates on which mandatory prepayments are Tranche B Loans, respectively, is required to be made) for such portion made pursuant to Section 4.2 unless the aggregate principal amount of the Principal Debt; Tranche A Term Loans which are Base Rate Loans or which have Interest Periods which will expire before such date is equal to or in excess of the amount of the repayment of the Tranche A Term Loans or the Tranche B Loans, as the case may be, required to be made on such date, and (dv) there shall be no more than an aggregate of five (5) two Interest Periods shall be in effect at any time for Tranche A Revolving Loans consisting of LIBOR Loans and (vi) there shall be no more than one timeInterest Period at any time for all Tranche A Term Loans and Tranche B Loans consisting of LIBOR Loans. If on the third Business Day prior to the expiration of any Interest Period, Comercial has failed to make an election of a new Interest Period to be applicable thereto, Comercial shall be deemed to have elected a one-month Interest Period.

Appears in 1 contract

Samples: Credit Agreement (Vitro Sa De Cv)

Interest Periods. When Borrower requests At the time it gives any Notice of Borrowing or Notice of Conversion in respect of the making of, or conversion into, any Eurodollar Rate BorrowingLoan (in the case of the initial Interest Period applicable thereto) or on the third Business Day prior to the expiration of an Interest Period applicable to such Eurodollar Rate Loan (in the case of any subsequent Interest Period), each relevant Borrower may elect shall have the right to elect, by giving the Agent notice thereof, the interest period (each an "INTEREST PERIODInterest Period") applicable theretoto such Eurodollar Rate Loan, which shall beInterest Period shall, at the option of such Borrower's option and subject to availability, be a one, two, three, three or six months; providedmonth period, however, provided that: (ai) all Eurodollar Rate Loans comprising a Borrowing shall at all times have the same Interest Period except as otherwise required by Section 2.10(b); (ii) the initial Interest Period for a any Eurodollar Rate Borrowing Loan shall commence on the date of Borrowing of such Borrowing Loan (including the date of any conversion thereto), thereof into a Loan of a different Type) and each Interest Period occurring thereafter in respect of such Borrowing Loan shall commence on the day on which the next preceding Interest Period applicable thereto expires; (biii) if any Interest Period for relating to a Eurodollar Rate Borrowing Loan begins on a day for which there is no numerically corresponding Business Day day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next last Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such calendar month; (iv) if any Interest Period (unless such date would be in otherwise expire on a different calendar month from what would have been the month at the end of such Interest Period, or unless there day which is no numerically corresponding day in the calendar month at the end of the Interest Period; whereuponnot a Business Day, such Interest Period shall end expire on the last next succeeding Business Day, provided that if any Interest Period for a Eurodollar Rate Loan would otherwise expire on a day which is not a Business Day but is a day of the month after which no further Business Day occurs in the calendar month at the end of such month, such Interest Period)Period shall expire on the next preceding Business Day; (cv) no Interest Period may be chosen with respect to any portion of the Principal Debt which would shall extend beyond the scheduled repayment Expiry Date; and (vi) no Interest Period in respect of the Revolving Loans comprising a Borrowing shall extend beyond any date (including any dates on upon which a mandatory prepayments are reduction of the Total Commitment will be required to be made) for made under Section 3.03 if the aggregate principal amount of Loans which have Interest Periods which will expire after such portion date will be in excess of the Principal Debt; and (d) no more than an aggregate Total Commitment after giving effect to such reduction. If upon the expiration of five (5) any Interest Periods Period applicable to a Eurodollar Rate Loan, the relevant Borrower has failed to elect a new Interest Period to be applicable to such Eurodollar Rate Loan as provided in this Section 2.09, such Borrower shall be in effect at one timedeemed to have elected to convert such Loan into a Base Rate Loan effective as of the expiration date of such current Interest Period.

Appears in 1 contract

Samples: Credit Agreement (Financial Security Assurance Holdings LTD/Ny/)

Interest Periods. When Borrower requests any Eurodollar Rate Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD"“Interest Period”) applicable thereto, which shall be, at Borrower's option ’s option, one (1) month or three (3) months, in each case to the extent available from each Lender (or other periods, if requested by Borrower and subject agreed to availability, one, two, three, or six monthsby each Lender); provided, provided however, that: (a) the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date of such Borrowing (including the date of any conversion Conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, then such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period); and (c) no Interest Period may be chosen with respect to any portion of the Total Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debt; and (d) no more than an aggregate of five (5) Interest Periods shall be in effect at one timeTermination Date.

Appears in 1 contract

Samples: Credit Agreement (Protection One Alarm Monitoring Inc)

Interest Periods. When Borrower requests any Eurodollar Rate Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which shall be, at Borrower's option and subject to availabilityoption, one, two, three, or six monthsmonths (or other periods, if requested by Borrower and agreed to by all Lenders); providedPROVIDED, howeverHOWEVER, that: (a) the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless UNLESS such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless UNLESS there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period); (c) no Interest Period may be chosen with respect to any portion of the Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debt; and (d) no more than an aggregate of five (5) Interest Periods shall be in effect at one time.

Appears in 1 contract

Samples: Revolving Credit Agreement (Logix Communications Enterprises Inc)

Interest Periods. When Borrower requests any Eurodollar Rate Borrowing or a Fixed Rate Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which shall be, at Borrower's option and subject to availabilityoption, one, two, three, or six monthsmonths or, if available to all Facility A Lenders, nine or twelve AMENDED AND RESTATED FACILITY A REVOLVING CREDIT AGREEMENT 32 38 months (in respect of any Eurodollar Rate Borrowing) and any period of up to six (6) months (with respect to any Fixed Rate Borrowing); provided, however, that: (a) the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period); (c) no Interest Period may be chosen with respect to any portion of the Facility A Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debt; and (d) no more than an aggregate of five twenty (520) Interest Periods (including, without limitation, Interest Periods under Facility B) shall be in effect at one time.

Appears in 1 contract

Samples: Revolving Credit Agreement (Worldcom Inc /Ga/)

Interest Periods. When At the time it gives any Notice of Competitive Bid Borrowing in respect of the making of a Borrowing of Competitive Bid Loans or at any time it gives any Notice of Borrowing or Notice of Conversion in respect of the making of, or conversion into, a Borrowing of Eurodollar Loans (in the case of the initial Interest Period applicable thereto) or by 12:00 Noon (New York time) on the third Business Day prior to the expiration of an Interest Period applicable to such a Borrowing (in the case of subsequent Interest Periods), the Borrower requests any Eurodollar Rate Borrowingshall have the right to elect, Borrower may elect by giving the Administrative Agent notice thereof, the interest period (each an "INTEREST PERIODInterest Period") applicable theretoto the Borrowing, which shall beInterest Period shall, at the option of the Borrower's option and subject to availability, be (x) in the case of a Eurodollar Loan, a one, two, three, three or six monthsmonth period and (y) in the case of a Fixed Rate Loan, a period commencing on the date of such Borrowing and ending on the date specified in the Competitive Bid in which the offer to make such Fixed Rate Loans comprising such Borrowing was extended and accepted pursuant to Section 1.04, which shall not be earlier than 7 days after the date of such Borrowing or later than 360 days after the date of such Borrowing; provided, however, provided that: (ai) all Loans comprising a Borrowing shall have the same Interest Period; (ii) the initial Interest Period for a any Borrowing of Eurodollar Rate Borrowing Loans shall commence on the date of such Borrowing (including the date of any conversion thereto), from a Borrowing of a different Type) and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (biii) if any Interest Period for relating to a Borrowing of Eurodollar Rate Borrowing Loans begins on a day for which there is no numerically corresponding Business Day day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next last Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such calendar month; (iv) if any Interest Period (unless such date would be in otherwise expire on a different calendar month from what would have been the month at the end of such Interest Period, or unless there day which is no numerically corresponding day in the calendar month at the end of the Interest Period; whereuponnot a Business Day, such Interest Period shall end expire on the last next succeeding Business Day; provided, however, that if any Interest Period would otherwise expire on a day which is not a Business Day but is a day of the month after which no further Business Day occurs in the calendar month at the end of such month, such Interest Period)Period shall expire on the next preceding Business Day; (cv) no Interest Period in respect of a Borrowing of Loans shall extend beyond the Expiry Date; (vi) no Interest Period may be chosen with respect to any portion of the Principal Debt selected which would extend beyond end after the scheduled repayment date (including of any dates on which mandatory prepayments are Scheduled Reduction if as a result of and after giving effect to such Scheduled Reduction, Loans with Interest Periods ending after such date would be required to be made) for such portion of the Principal Debtrepaid by Section 4.02(A)(a)(i); and (dvii) no more than an aggregate Interest Period may be selected while a Default or Event of five (5) Default exist. If upon the expiration of any Interest Periods Period applicable to a Borrowing of Eurodollar Loans, the Borrower has failed, or is unable, to elect a new Interest Period to be applicable to such Borrowing as provided above, such Borrower shall be in effect at one timedeemed to have elected to convert such Borrowing into a Borrowing of Base Rate Loans effective as of the expiration date of such current Interest Period.

Appears in 1 contract

Samples: Credit Agreement (Service Merchandise Co Inc)

Interest Periods. When At the time it gives any Notice of Borrowing or Notice of Conversion in respect of the making of, or conversion into any Eurocurrency Rate Loan, the relevant Borrower requests any Eurodollar Rate Borrowingshall have the right to elect, Borrower may elect by giving the Administrative Agent notice thereof, the interest period (each, together with each of the interest periods for Competitive Bid Loans as provided in Section 2.13, an "INTEREST PERIODInterest Period") applicable theretoto such Eurocurrency Rate Loan, which shall beInterest Period shall, at the option of such Borrower's option and subject to availability, be a one, two, three, six, nine or six months; providedtwelve month period (subject to availability as determined by 100% of the Banks), however, provided that: (ai) all Eurocurrency Rate Loans comprising a Borrowing shall at all times have the same Interest Period and Currency except as otherwise required by Section 2.10(b); (ii) the initial Interest Period for a Eurodollar any Eurocurrency Rate Borrowing Loan shall commence on the date of Borrowing of such Borrowing Loan (including the date of any conversion theretoof a Base Rate Loan into Eurodollar Rate Loan), and each ; (iii) if the Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for relating to a Eurodollar Eurocurrency Rate Borrowing Loan begins on a day for which there is no numerically corresponding Business Day day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next last Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such calendar month; (iv) if any Interest Period (unless such date would be in otherwise expire on a different calendar month from what would have been the month at the end of such Interest Period, or unless there day which is no numerically corresponding day in the calendar month at the end of the Interest Period; whereuponnot a Business Day, such Interest Period shall end expire on the last next succeeding Business Day; provided, however, that if the Interest Period for a Eurocurrency Rate Loan would otherwise expire on a Credit Agreement day which is not a Business Day but is a day of the month after which no further Business Day occurs in the calendar month at the end of such month, such Interest Period)Period shall expire on the next preceding Business Day; and (cv) no Interest Period may be chosen with respect to any portion of the Principal Debt which would shall extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debt; and (d) no more than an aggregate of five (5) Interest Periods shall be in effect at one timeCommitment Termination Date.

Appears in 1 contract

Samples: Credit Agreement (Omnicom Group Inc)

Interest Periods. When Borrower requests any Eurodollar Rate BorrowingIn connection with the making or continuation of, Borrower may elect the or conversion into, each Borrowing of LIBOR Loans, Borrowers shall select an interest period (each an "INTEREST PERIODInterest Period") to be applicable theretoto such LIBOR Loan, which interest period shall becommence on the date such LIBOR Loan is made and shall end on a numerically corresponding day in the first, at Borrower's option and subject to availability, one, two, three, second or six monthsthird month thereafter; provided, however, that: (ai) the initial Interest Period for a Eurodollar Rate Borrowing LIBOR Loan shall commence on the date of such Borrowing borrowing (including the date of any conversion thereto), from a Loan of another Type) and each Interest Period occurring thereafter in respect of such Borrowing Revolving Loan shall commence on the day date on which the next preceding Interest Period applicable thereto expires; (bii) if any Interest Period for would otherwise expire on a Eurodollar Rate Borrowing day that is not a Business Day, such Interest Period shall expire on the next succeeding Business Day, provided that, if any Interest Period in respect of LIBOR Loans would otherwise expire on a day that is not a Business Day but is a day of the month after which no further Business Day occurs in such month, such Interest Period shall expire on the immediately preceding Business Day; (iii) any Interest Period that begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end expire on the last Business Day in the calendar month at the end of such Interest Period)calendar month; (civ) no Interest Period may be chosen with respect to any portion of the Principal Debt principal of a Loan shall extend beyond a date on which would a Borrower is required to make a scheduled payment of such portion of principal; and (v) no Interest Period shall extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion last day of the Principal Debt; and (d) no more than an aggregate of five (5) Interest Periods shall be in effect at one timeTerm.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Euramax Holdings, Inc.)

Interest Periods. When Borrower requests Borrowers request any Eurodollar Rate Borrowing, Borrower Borrowers may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which shall be, at Borrower's Borrowers' option and subject to availability, one, two, three, or six months; provided, however, that: (a) the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period); and (c) no Interest Period may be chosen with respect to any portion of the Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debt; and (d) no more than an aggregate of five (5) Interest Periods shall be in effect at one time.

Appears in 1 contract

Samples: Credit Agreement (Affiliated Computer Services Inc)

Interest Periods. When Borrower requests At the time it gives any Notice of Borrowing or Notice of Conversion in respect of the making of, or conversion into, any Eurodollar Rate BorrowingLoan (in the case of the initial Interest Period applicable thereto) or on the third Business Day prior to the expiration of an Interest Period applicable to such Eurodollar Rate Loan (in the case of any subsequent Interest Period), the Borrower may elect shall have the right to elect, by giving the Administrative Agent notice thereof (such notice, a "Rollover Notice"), the interest period (each each, an "INTEREST PERIODInterest Period") applicable theretoto such Eurodollar Rate Loan, which shall Interest Period shall, at the option of the Borrower, be, at Borrower's option and subject to availabilityin the case of any Eurodollar Rate Loan, a one, two, threethree or six-month period, or six months; provided, however, provided that: (ai) all Eurodollar Rate Loans comprising a Borrowing shall at all times have the same Interest Period except as otherwise required by Section 2.11(b); (ii) the initial Interest Period for a any Eurodollar Rate Borrowing Loan shall commence on the date of Borrowing of such Borrowing Loan (including the date of any conversion thereto), Conversion thereof from a Base Rate Loan) and each Interest Period occurring thereafter in respect of such Borrowing Loan shall commence on the day on which the next preceding Interest Period applicable thereto expires; (biii) if any Interest Period for relating to a Eurodollar Rate Borrowing Loan begins on a day for which there is no numerically corresponding Business Day day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next last Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such calendar month; (iv) if any Interest Period (unless such date would be in otherwise expire on a different calendar month from what would have been the month at the end of such Interest Period, or unless there day which is no numerically corresponding day in the calendar month at the end of the Interest Period; whereuponnot a Business Day, such Interest Period shall end expire on the last next succeeding Business Day, provided that if any Interest Period for a Eurodollar Rate Loan would otherwise expire on a day which is not a Business Day but is a day of the month after which no further Business Day occurs in the calendar month at the end of such month, such Interest Period)Period shall expire on the next preceding Business Day; and (cv) no Interest Period may be chosen with respect to any portion of the Principal Debt which would shall extend beyond the scheduled repayment date (including Maturity Date. If upon the expiration of any dates on which mandatory prepayments are required Interest Period applicable to a Eurodollar Rate Loan, the Borrower has failed to elect a new Interest Period to be made) for applicable to such portion of Eurodollar Rate Loan as provided above, the Principal Debt; and (d) no more than an aggregate of five (5) Interest Periods Borrower shall be in effect at deemed to have elected an Interest Period with a duration of one time(1) month.

Appears in 1 contract

Samples: Gramercy Capital Corp

Interest Periods. When Borrower requests At the time it gives any Eurodollar Rate BorrowingNotice of Borrowing or Notice of Conversion in respect of the making of, Borrower may elect or conversion into, any LIBOR Loan (in the case of the initial Interest Period applicable thereto) or on the third Business Day prior to the expiration of an Interest Period applicable to any such LIBOR Loan (in the case of any subsequent Interest Period), the Borrowers shall have the right to elect, by giving the Administrative Agent notice thereof, the interest period (each an "INTEREST PERIODInterest Period") applicable theretoto such LIBOR Loan, which Interest Period shall bebe a one month period, provided that; (v) all LIBOR Loans comprising a Borrowing shall at Borrower's option and subject to availability, one, two, three, or six monthsall times have the same Interest Period; provided, however, that: (aw) the initial Interest Period for a Eurodollar Rate Borrowing any LIBOR Loan shall commence on the date of Borrowing of such Borrowing Revolving Loan (including the date of any conversion thereto), thereof into a Revolving Loan of a different Type) and each Interest Period occurring thereafter in respect of such Borrowing Revolving Loan shall commence on the day on which the next preceding Interest Period applicable thereto expires; (bx) if any Interest Period for relating to a Eurodollar Rate Borrowing LIBOR Loan begins on a day for which there is no numerically corresponding Business Day day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next last Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such calendar month; (y) if any Interest Period (unless such date would be in otherwise expire on a different calendar month from what would have been the month at the end of such Interest Period, or unless there day which is no numerically corresponding day in the calendar month at the end of the Interest Period; whereuponnot a Business Day, such Interest Period shall end expire on the last next succeeding Business Day, provided that if any Interest Period for a LIBOR Loan would otherwise expire on a day which is not a Business Day but is a day of the month after which no further Business Day occurs in the calendar month at the end of such month, such Interest Period)Period shall expire on the next preceding Business Day; and (cz) no Interest Period may be chosen with respect to any portion of the Principal Debt which would shall extend beyond the scheduled repayment date (including Expiry Date. If, upon the expiration of any dates on which mandatory prepayments are required Interest Period applicable to a Borrowing of LIBOR Loans, the respective Borrower has failed to elect, or is not permitted to elect, a new Interest Period to be made) for applicable to such portion LIBOR Loans as provided in this Section 1.09, such Borrower shall be deemed to have elected to convert such LIBOR Loans into Base Rate Loans effective as of the Principal Debt; and (d) no more than an aggregate expiration date of five (5) such current Interest Periods shall be in effect at one timePeriod.

Appears in 1 contract

Samples: Custody Agreement (Nicholas Applegate Fund Inc)

Interest Periods. When At the time the Borrower requests any Eurodollar Rate gives a Notice of Borrowing or Notice of Conversion or Continuation in respect of the making of, or conversion into or continuation as, a Borrowing of SOFR Loans in accordance with Section 2.6(a), the Borrower shall give the Administrative Agent written notice of the Interest Period applicable to such Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which shall beInterest Period shall, at the option of the Borrower's option and subject to availability, be one, two, three, three or six months; providedprovided that the Interest Period may be a period of less than one month that is agreed by the Borrower and the Administrative Agent, howeverso long as for purposes of determining Term SOFR, thatTerm SOFR in respect of such period shall be based on Term SOFR in respect of a one-month tenor. Notwithstanding foregoing, the initial Interest Period of the Initial Term Loans shall be from the Closing Date to June 30, 2023, and Term SOFR in respect of such Interest Period shall be based on Term SOFR in respect of a three- month tenor. Notwithstanding anything to the contrary contained above: (a) the initial Interest Period for a Eurodollar Rate any Borrowing of SOFR Loans shall commence on the date of such Borrowing (including or the date of any conversion thereto), from a Borrowing of ABR Loans) and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for relating to a Eurodollar Rate Borrowing of SOFR Loans begins on the last Business Day of a calendar month or begins on a day for which there is no numerically corresponding Business Day day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in of the calendar month at the end of such Interest Period); (c) no if any Interest Period may be chosen with would otherwise expire on a day that is not a Business Day, such Interest Period shall expire on the next succeeding Business Day; provided that if any Interest Period in respect to any portion of a SOFR Loan would otherwise expire on a day that is not a Business Day but is a day of the Principal Debt month after which would extend beyond no further Business Day occurs in such month, such Interest Period shall expire on the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debtnext preceding Business Day; and (d) no the Borrower shall not be entitled to elect any Interest Period in respect of (i) any SOFR Loan if such Interest Period would extend beyond the applicable Maturity Date of such Term Loan or (ii) the Initial Term Loans such that there would be more than an aggregate one Interest Period beginning on the fifth anniversary of five (5) Interest Periods shall be the Closing Date and ending on the Initial Term Loan Maturity Date. In connection with the use or administration of Term SOFR, the Administrative Agent will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in effect at one timeany other Credit Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Credit Document. The Administrative Agent will promptly notify the Borrower and the Lenders of the effectiveness of any Conforming Changes in connection with the use or administration of Term SOFR.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Avaya Holdings Corp.)

Interest Periods. When Borrower requests At the time it gives any Notice of Borrowing or a Notice of Conversion or Continuation with respect to Eurodollar Rate BorrowingLoans, the Borrower may elect shall elect, by giving the Agent written notice, the interest period (each an "INTEREST PERIODInterest Period") applicable theretoto the related Eurodollar Rate Borrowing, which shall beInterest Period shall, at the option of the Borrower's option and subject to availability, be a one, two, three, three or six months; providedmonth period, however, provided that: (ai) the initial Interest Period for a any Eurodollar Rate Borrowing Loan shall commence on the date of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of a continuation of such Borrowing Eurodollar Rate Loan shall commence on the day on which the next immediately preceding Interest Period applicable thereto for such Loan expires; (bii) if any Interest Period for would otherwise expire on a day which is not a Business Day, such Interest Period shall expire on the next succeeding Business Day, provided, however, that if any Interest Period in respect of a Eurodollar Rate Borrowing Loan would otherwise expire on a day which is not a Business Day and after which no Business Day occurs in the same month, such Interest Period shall expire on the immediately preceding Business Day; (iii) if an Interest Period begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the such Interest Period; whereupon), such Interest Period shall end on the last Business Day in of the first, second, third or sixth, as applicable, succeeding calendar month at the end of such Interest Period)month; and (civ) no Interest Period may be chosen with respect to any portion of the Principal Debt which would shall extend beyond the scheduled repayment date (including Revolver Termination Date for any dates on which mandatory prepayments are required to be made) Revolving Loans, the Term Loan Maturity Date for such portion of the Principal Debt; and (d) no more than an aggregate of five (5) Interest Periods shall be in effect at one time.Term Loan, the Additional Term Loan Maturity Date for the Additional Term Loan, the Supplemental Revolver Termination Date for any Supplemental Revolving Loans, the D Tranche Term Loan Maturity Date for the D Tranche Term Loan or the E Tranche Term Loan Maturity Date for the E Tranche Term Loan. Section 2.11

Appears in 1 contract

Samples: Credit Agreement (Stone Container Corp)

Interest Periods. When Borrower requests any Eurodollar Rate Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which shall be, at Borrower's option and subject to availabilityoption, oneone (1) month or two (2), two, threethree (3), or six (6) months, in each case to the extent available from each Lender; provided, however, that: (a) the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date of such Borrowing (including the date of any conversion Conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate CREDIT AGREEMENT Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, then such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period); (c) no Interest Period may be chosen with respect to any portion of the Total Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Total Principal Debt; and (d) no more than an aggregate of five (5) Interest Periods shall be in effect at one time.

Appears in 1 contract

Samples: Credit Agreement (Centex Development Co Lp)

Interest Periods. When The Borrower requests may select for any Eurodollar Rate Loan the Interest Period (as defined in the next sentence) for each Borrowing, it being understood that the Borrower may elect request multiple Borrowings on the interest period (same day and may select a different Interest Period for each an "INTEREST PERIOD") applicable theretosuch Borrowing. An Interest Period shall be each period, as selected by the Borrower in accordance with the terms of this Agreement, beginning on the Borrowing Date of any Eurodollar Rate Loan, or on the Conversion/Continuation Date on which shall beany Loan is converted into or continued as a Eurodollar Rate Loan, at Borrower's option and subject to availability, ending on the date specified by the Borrower that is one, two, three, three or six monthsmonths thereafter; provided, however, that: (a) provided that whenever the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date first day of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins occurs on a day of an initial calendar month for which there is no numerically corresponding Business Day day in the calendar month at that succeeds such initial calendar month by the end number of months equal to the number of months in such Interest Period, such Interest Period shall end on the next last Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such succeeding calendar month; and provided further that if the last day of an Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there day that is no numerically corresponding day in the calendar month at the end of the Interest Period; whereuponnot a Business Day, such Interest Period shall be extended to the next succeeding Business Day, unless such next succeeding Business Day is in a different calendar month, in which case such interest period shall end on the last next preceding Business Day in the calendar month at the end of such Interest Period)Day; but provided, however, that (ci) no Interest Period may be chosen with respect applicable to any portion of the Principal Debt which would Revolving Loan shall extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal DebtRevolving Termination Date; and (dii) no more than an aggregate of five (5) Interest Periods Period applicable to any Term Loan shall extend beyond the Term Loan Maturity Date specified in the Borrowing Advice for such Term Loan, which in no event shall be in effect at one timelater than June 12, 2009.

Appears in 1 contract

Samples: Credit Agreement (Schwab Charles Corp)

Interest Periods. When At the time any Borrower requests gives any Eurodollar Rate BorrowingNotice of Borrowing or Notice of Conversion/Continuation in respect of the making of, or conversion into, any LIBOR Loan (in the case of the initial Interest Period applicable thereto) or prior to 1:00 P.M. (New York City time) on the third Business Day prior to the expiration of an Interest Period applicable to such LIBOR Loan (in the case of any subsequent Interest Period), such Borrower may shall have the right to elect the interest period (each each, an "INTEREST PERIOD"“Interest Period”) applicable theretoto such LIBOR Loan, which shall beInterest Period shall, at the option of the Borrower's option and subject to availability, be a one, two, three, three or six monthsmonth period; provided, howeverthat, that: (in each case): (a) all LIBOR Loans comprising a Borrowing shall at all times have the same Interest Period; (b) the initial Interest Period for a Eurodollar Rate Borrowing any LIBOR Loan shall commence on the date of Borrowing of such Borrowing LIBOR Loan (including the date of any conversion thereto), thereto from a Base Rate Loan) and each Interest Period occurring thereafter in respect of such Borrowing LIBOR Loan shall commence on the day on which the next preceding Interest Period applicable thereto expires; (bc) if any Interest Period for a Eurodollar Rate Borrowing LIBOR Loan begins on a day for which there is no numerically corresponding Business Day day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next last Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such calendar month; (d) if any Interest Period (unless such date for a LIBOR Loan would be in otherwise expire on a different calendar month from what would have been the month at the end of such Interest Period, or unless there day which is no numerically corresponding day in the calendar month at the end of the Interest Period; whereuponnot a Business Day, such Interest Period shall end expire on the last next succeeding Business Day; provided, however, that if any Interest Period for a LIBOR Loan would otherwise expire on a day which is not a Business Day but is a day of the month after which no further Business Day occurs in the calendar month at the end of such month, such Interest Period)Period shall expire on the next preceding Business Day; (ce) unless the Required Lenders otherwise agree, no Interest Period may be chosen with respect to selected at any portion time when an Event of the Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal DebtDefault is then in existence; and (df) no more than an aggregate Interest Period in respect of five (5) Interest Periods any Borrowing shall be in effect at one selected which extends beyond the Revolving Commitment Termination Date. If by 1:00 P.M. (New York City time.) on the third Business Day prior to the expiration of any Interest Period applicable to a Borrowing of LIBOR Loans, any Borrower has failed to elect, or is not permitted to elect, a new Interest Period to be applicable to such LIBOR Loans as provided above, such Borrower shall be deemed to have elected to convert such LIBOR Loans into Base Rate Loans effective as of the expiration date of such current Interest Period. 2.10

Appears in 1 contract

Samples: Abl Credit Agreement (CVR Partners, Lp)

Interest Periods. When Borrower requests any In connection with each Eurodollar Rate BorrowingLoan, Borrower Company may, pursuant to the applicable Notice of Borrowing or Notice of Conversion/Continuation, as the case may elect the be, select an interest period (each an "INTEREST PERIODInterest Period") to be applicable theretoto such Loan, which Interest Period shall be, at BorrowerCompany's option and subject to availabilityoption, either a one, two, three, three or six monthsmonth period (or with respect to clause (vi) below only, such shorter period acceptable to Administrative Agent); provided, however, provided that: -------- (ai) the initial Interest Period for a any Eurodollar Rate Borrowing Loan shall commence on the date of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter Funding Date in respect of such Borrowing Loan, in the case of a Loan initially made as a Eurodollar Rate Loan, or on the date specified in the applicable Notice of Conversion/Continuation, in the case of a Loan converted to a Eurodollar Rate Loan; (ii) in the case of immediately successive Interest Periods applicable to a Eurodollar Rate Loan continued as such pursuant to a Notice of Conversion/ Continuation, each successive Interest Period shall commence on the day on which the next preceding Interest Period applicable thereto expires; (biii) if an Interest Period would otherwise expire on a day that is not a Business Day, such Interest Period shall expire on the next succeeding Business Day; provided that, if any Interest Period for would otherwise expire on a Eurodollar Rate Borrowing day that -------- is not a Business Day but is a day of the month after which no further Business Day occurs in such month, such Interest Period shall expire on the next preceding Business Day; (iv) any Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the such Interest Period; whereupon) shall, such Interest Period shall subject to clause (v) of this subsection 2.2B, end on the last Business Day in the of a calendar month at the end of such Interest Period)month; (cv) no Interest Period may be chosen with respect to any portion of the Principal Debt which would Tranche A Term Loans shall extend beyond March 2, 2005, no Interest Period with respect to any portion of the Tranche B Term Loans shall extend beyond March 2, 2006, no Interest Period with respect to any portion of the Tranche C Term Loans shall extend beyond March 2, 2007 and no Interest Period with respect to any portion of the Revolving Loans shall extend beyond the scheduled repayment Revolving Loan Commitment Termination Date; (vi) no Interest Period with respect to any portion of any Type of Term Loans shall extend beyond a date (including any dates on which mandatory prepayments Company is required to make a scheduled payment of principal of such Type of Term Loans unless the sum of (a) the aggregate principal amount of such Type of Term Loans that are Base Rate Loans plus (b) the aggregate principal amount of such Type of Term Loans that ---- are Eurodollar Rate Loans with Interest Periods expiring on or before such date equals or exceeds the principal amount required to be madepaid on such Type of Term Loans on such date; (vii) for such portion of the Principal Debtthere shall be no more than fifteen (15) Interest Periods outstanding at any time; and (dviii) no more than in the event Company fails to specify an aggregate Interest Period for any Eurodollar Rate Loan in the applicable Notice of five (5) Interest Periods Borrowing or Notice of Conversion/Continuation, Company shall be in effect at deemed to have selected an Interest Period of one time.month. C.

Appears in 1 contract

Samples: Credit Agreement (Isle of Capri Casinos Inc)

Interest Periods. When (a) At the time Borrower requests any gives a Notice of Borrowing or Notice of Conversion in respect of the making of, or conversion into, a Borrowing of Eurodollar Rate BorrowingLoans, Borrower may elect in the interest period (each an "INTEREST PERIOD") case of the initial Interest Period applicable thereto, or prior to 12:00 Noon (New York time) on the third Business Day prior to the expiration of an Interest Period applicable to a Borrowing of Eurodollar Loans, Borrower shall have the right to elect by giving the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of the Interest Period applicable to such Borrowing, which shall beInterest Period shall, at the option of Borrower's option and subject to availability, be a one, two, three, three or six months; provided, however, thatmonth period. Notwithstanding anything to the contrary contained above: (ai) the initial Interest Period for a any Borrowing of Eurodollar Rate Borrowing Loans shall commence on the date of such Borrowing (including the date of any conversion thereto), from a Borrowing of Base Rate Loans) and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if ii)if any Interest Period for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of in which such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereuponends, such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period)calendar month; (ciii) if any Interest Period would otherwise expire on a day which is not a Business Day, such Interest Period shall expire on the next succeeding Business Day; PROVIDED, HOWEVER, that if any Interest Period would otherwise expire on a day which is not a Business Day but is a day of the month after which no further Business Day occurs in such month, such Interest Period shall expire on the next preceding Business Day; (iv) no Interest Period shall extend beyond the Maturity Date; and (v) no Interest Period may be chosen with respect elected at any time when a Default or Event of Default is then in existence if the Administrative Agent or the Required Banks have reasonably determined that such an election at such time would be disadvantageous to the Banks. (b) If upon the third Business Day prior to the expiration of any portion Interest Period, Borrower has failed to (or may not) elect a new Interest Period to be applicable to the respective Borrowing of Eurodollar Loans as provided above, Borrower shall be deemed to have elected to convert such Borrowing into a Borrowing of Base Rate Loans effective as of the Principal Debt which would extend beyond the scheduled repayment expiration date (including any dates on which mandatory prepayments are required to be made) for of such portion of the Principal Debt; and (d) no more than an aggregate of five (5) current Interest Periods shall be in effect at one time.Period. 1.10

Appears in 1 contract

Samples: Credit Agreement (Global Marine Inc)

Interest Periods. When Borrower requests any Eurodollar Rate Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which shall be, at Borrower's option and subject to availability, one, two, three, or six months; provided, however, that: (a) the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period); (c) no Interest Period may be chosen with respect to any portion of the Principal Debt which would (i) extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal DebtDebt or (ii) extend beyond the Revolving Termination Date if such Interest Period commences prior to the Revolving Termination Date; and (d) no more than an aggregate of five (5) Interest Periods shall be in effect at one time.

Appears in 1 contract

Samples: NBPLP Credit Agreement (Northern Border Partners Lp)

Interest Periods. When Borrower requests any Eurodollar Rate Borrowing or a Fixed Rate Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which shall be, at Borrower's option and subject to availabilityoption, one, two, three, or six monthsmonths or, if available to all Lenders, nine or twelve months (in respect of any Eurodollar Rate Borrowing) and any period of up to six (6) months (with respect to any Fixed Rate Borrowing); providedPROVIDED, howeverHOWEVER, thatTHAT: (a) the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless UNLESS such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless UNLESS there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period); (c) no Interest Period may be chosen with respect to any portion of the Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debt; and (d) no more than an aggregate of five (5) Interest Periods shall be in effect at one time.such

Appears in 1 contract

Samples: Revolving Credit Agreement (Worldcom Inc/ga//)

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Interest Periods. When At the time the Borrower requests gives any Eurodollar Notice of Borrowing or Notice of Conversion/Continuation in respect of the making of, or conversion into, any LIBO Rate BorrowingTerm Loan (in the case of the initial Interest Period applicable thereto) or prior to 12:00 Noon (New York City time) on the third Business Day prior to the expiration of an Interest Period applicable to such LIBO Rate Term Loan (in the case of any subsequent Interest Period), the Borrower may shall have the right to elect the interest period (each each, an "INTEREST PERIOD"“Interest Period”) applicable theretoto such LIBO Rate Term Loan, which shall beInterest Period shall, at Borrower's the option and subject to availability, of the Borrower be (x) a one, two, three, three or six monthsmonth period, or, if agreed to by all Lenders, a twelve month period or (y) if agreed to by the Administrative Agent, a period less than one month; provided, however, that: provided that (ain each case): (i) all LIBO Rate Term Loans comprising a Borrowing shall at all times have the same Interest Period; (ii) the initial Interest Period for a Eurodollar any LIBO Rate Borrowing Term Loan shall commence on the date of Borrowing of such Borrowing LIBO Rate Term Loan (including including, in the case of LIBO Rate Term Loans, the date of any conversion thereto), thereto from a Borrowing of Base Rate Term Loans) and each Interest Period occurring thereafter in respect of such Borrowing LIBO Rate Term Loan shall commence on the day on which the next preceding Interest Period applicable thereto expires; (biii) if any Interest Period for a Eurodollar LIBO Rate Borrowing Term Loan begins on a day for which there is no numerically corresponding Business Day day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next last Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such calendar month; (iv) if any Interest Period (unless such date for a LIBO Rate Term Loan would be in otherwise expire on a different calendar month from what would have been the month at the end of such Interest Period, or unless there day which is no numerically corresponding day in the calendar month at the end of the Interest Period; whereuponnot a Business Day, such Interest Period shall end expire on the last next succeeding Business Day; provided, however, that if any Interest Period for a LIBO Rate Term Loan would otherwise expire on a day which is not a Business Day but is a day of the month after which no further Business Day occurs in such month, such Interest Period shall expire on the calendar month next preceding Business Day; (v) unless the Required Lenders otherwise agree, no Interest Period for a LIBO Rate Term Loan may be selected at any time when an Event of Default is then in existence; and (vi) no Interest Period in respect of any Borrowing of any Tranche of Term Loans shall be selected which extends beyond the Maturity Date therefor. With respect to any LIBO Rate Term Loans, at the end of such Interest Period); (c) no any Interest Period applicable to a Borrowing thereof, the Borrower may be chosen with respect elect to any portion split the respective Borrowing of a single Type under a single Tranche into two or more Borrowings of different Types under such Tranche or combine two or more Borrowings under a single Tranche into a single Borrowing of the Principal Debt same Type under such Tranche, in each case, by having the Borrower give notice thereof together with its election of one or more Interest Periods, in each case so long as each resulting Borrowing (x) has an Interest Period which would extend beyond complies with the scheduled repayment date foregoing requirements of this Section 2.09, (including any dates on y) has a principal amount which mandatory prepayments are required is not less than the Minimum Borrowing Amount applicable to be made) for such portion Borrowings of the Principal Debt; respective Type and (d) no more than an aggregate of five (5) Interest Periods shall be in effect at one time.51

Appears in 1 contract

Samples: Credit Agreement (Vertiv Holdings Co)

Interest Periods. When At the time the Borrower requests any Eurodollar Rate gives a Notice of Borrowing or Notice of Conversion or Continuation in respect of the making of, or conversion into or continuation as, a Borrowing of LIBOR Loans in accordance with Section 2.6(a), the Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of the Interest Period applicable to such Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which shall beInterest Period shall, at Borrower's the option and subject to availability, of the Borrower be a one week period or a one, two, three, six or six months; provided, however, that(if available to all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions) a twelve month period. Notwithstanding anything to the contrary contained above: (a) the initial Interest Period for a Eurodollar Rate any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion thereto), from a Borrowing of ABR Loans) and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for relating to a Eurodollar Rate Borrowing of LIBOR Loans begins on the last Business Day of a calendar month or begins on a day for which there is no numerically corresponding Business Day day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in of the calendar month at the end of such Interest Period); (c) no if any Interest Period may be chosen with would otherwise expire on a day that is not a Business Day, such Interest Period shall expire on the next succeeding Business Day; provided that if any Interest Period in respect to any portion of a LIBOR Loan would otherwise expire on a day that is not a Business Day but is a day of the Principal Debt month after which no further Business Day occurs in such month, such Interest Period shall expire on the next preceding Business Day; and -66- (d) the Borrower shall not be entitled to elect any Interest Period in respect of any LIBOR Loan if such Interest Period would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for applicable Maturity Date of such portion of the Principal Debt; and (d) no more than an aggregate of five (5) Interest Periods shall be in effect at one time.Loan. 2.10

Appears in 1 contract

Samples: Second Lien Intercreditor Agreement

Interest Periods. When At the time the Borrower requests any Eurodollar Rate gives a Notice of Borrowing or Notice of Conversion or Continuation in respect of the making of, or conversion into or continuation as, a Borrowing of Term SOFR Loans in accordance with Section 2.3(a), the Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of the Interest Period applicable to such Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which shall beInterest Period shall, at the option of the Borrower's option and subject , be a one or three month period. Notwithstanding anything to availability, one, two, three, or six months; provided, however, thatthe contrary contained above: (a) the initial Interest Period for a Eurodollar Rate any Borrowing of Term SOFR Loans shall commence on the date of such Borrowing (including the date of any conversion thereto), from a Borrowing of ABR Loans) and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for relating to a Eurodollar Rate Borrowing of Term SOFR Loans begins on the last Business Day of a calendar month or begins on a day for which there is no numerically corresponding Business Day day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in of the calendar month at the end of such Interest Period); (c) no if any Interest Period may be chosen with would otherwise expire on a day that is not a Business Day, such Interest Period shall expire on the next succeeding Business Day; provided that if any Interest Period in respect to any portion of a Term SOFR Loan would otherwise expire on a day that is not a Business Day but is a day of the Principal Debt month after which would extend beyond no further Business Day occurs in such month, such Interest Period shall expire on the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debtnext preceding Business Day; and (d) no more than an aggregate the Borrower shall not be entitled to elect any Interest Period in respect of five (5) any Term SOFR Loan if such Interest Periods shall be in effect at one time.Period would extend beyond the Maturity Date. 2.10

Appears in 1 contract

Samples: Credit Agreement (Avaya Holdings Corp.)

Interest Periods. When The Borrower requests any Eurodollar Rate Borrowing, shall have the option to select and advise the Agent of the Interest Periods the Borrower may elect the interest period has selected for Revolving Loans not less than three (each an "INTEREST PERIOD"3) applicable thereto, which shall be, at Borrower's option and subject Cleveland Banking Days prior to availability, one, two, three, or six months; provided, however, that: (a) the initial Restatement Effective Date, for the Revolving Loans to be made on the Restatement Effective Date, (b) each Interest Period for a Eurodollar Adjustment Date, (c) the date any Revolving Loans are to be made subsequent to the Restatement Effective Date, and (d) any date on which the Borrower desires to have any portion of the principal of the Revolving Loans not subject to the LIBOR Rate Borrowing shall commence Option become subject to the LIBOR Rate Option, provided, that Revolving Loans subject to the Base Rate Option may not be converted into Revolving Loans subject to the LIBOR Rate Option and Revolving Loans subject to the LIBOR Rate Option may not be continued as Revolving Loans subject to the LIBOR Rate Option if an Event of Default is in existence on the date of such Borrowing conversion or continuation. Each Interest Period selected shall apply to not less than $500,000 in principal amount of the Revolving Loans; provided, that at no time shall there be more than ten (including 10) Revolving Loans outstanding at any time, whether subject to the date of any conversion thereto), and Base Rate Option or the LIBOR Rate Option. The principal amount subject to each Interest Period occurring thereafter in shall be deemed distributed among the Banks, based on their Pro rata shares, with respect of such Borrowing shall commence on to the day on respective Revolving Loans to which the next preceding Interest Period applicable thereto expires; (b) if applies. If the Borrower fails to timely select any Interest Period for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, the Borrower shall be deemed to have elected to convert such Interest Period shall end on Loan to a Loan subject to the next Business Day immediately following what otherwise would have been such numerically corresponding day in Base Rate Option, effective as of the calendar month at the end expiration date of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such current Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period); (c) no Interest Period may be chosen with respect to any portion of the Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debt; and (d) no more than an aggregate of five (5) Interest Periods shall be in effect at one time.

Appears in 1 contract

Samples: Credit Agreement (Forest City Enterprises Inc)

Interest Periods. When The Borrower requests may select for any Eurodollar Rate Loan the Interest Period (as defined in the next sentence) for each Borrowing, it being understood that the Borrower may elect request multiple Borrowings on the interest period (same day and may select a different Interest Period for each an "INTEREST PERIOD") applicable theretosuch Borrowing. An Interest Period shall be each period, as selected by the Borrower in accordance with the terms of this Agreement, beginning on the Borrowing Date of any Eurodollar Rate Loan, or on the Conversion/Continuation Date on which shall beany Loan is converted into or continued as a Eurodollar Rate Loan, at Borrower's option and subject to availability, ending on the date specified by the Borrower that is one, two, three, three or six monthsmonths thereafter; provided, however, that: (a) provided that whenever the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date first day of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins occurs on a day of an initial calendar month for which there is no numerically corresponding Business Day day in the calendar month at that succeeds such initial calendar month by the end number of months equal to the number of months in such Interest Period, such Interest Period shall end on the next last Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such succeeding calendar month; and provided further that if the last day of an Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there day that is no numerically corresponding day in the calendar month at the end of the Interest Period; whereuponnot a Business Day, such Interest Period shall be extended to the next succeeding Business Day, unless such next succeeding Business Day is in a different calendar month, in which case such interest period shall end on the last next preceding Business Day in the calendar month at the end of such Interest Period)Day; but provided, however, that (ci) no Interest Period may be chosen with respect applicable to any portion of the Principal Debt which would Revolving Loan shall extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal DebtRevolving Termination Date; and (dii) no more than an aggregate of five (5) Interest Periods Period applicable to any Term Loan shall extend beyond the Term Loan Maturity Date specified in the Borrowing Advice for such Term Loan, which in no event shall be in effect at one timelater than May 29. 2020.

Appears in 1 contract

Samples: Credit Agreement (Schwab Charles Corp)

Interest Periods. When At the time any Borrower requests gives any Eurodollar Rate BorrowingSOFR Notice in respect of the making of, or conversion into, any SOFR Loan (in the case of the initial Interest Period applicable thereto) or prior to 1:00 P.M. on the third Business Day prior to the expiration of an Interest Period applicable to such SOFR Loan (in the case of any subsequent Interest Period), such Borrower may shall have the right to elect the interest period (each an "INTEREST PERIOD") Interest Period applicable theretoto such SOFR Loan, which shall beInterest Period shall, at the option of the Borrower's option and subject to availability, one, two, three, be a one or six monthsthree month period; provided, howeverthat, that: (in each case): (a) all SOFR Loans comprising a Borrowing shall at all times have the same Interest Period; (b) the initial Interest Period for a Eurodollar Rate Borrowing any SOFR Loan shall commence on the date of Borrowing of such Borrowing SOFR Loan (including the date of any conversion thereto), thereto from a Base Rate Loan) and each Interest Period occurring thereafter in respect of such Borrowing SOFR Loan shall commence on the day on which the next preceding Interest Period applicable thereto expires; (bc) if any Interest Period for a Eurodollar Rate Borrowing SOFR Loan begins on a day for which there is no numerically corresponding Business Day day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next last Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such calendar month; (d) if any Interest Period (unless such date for a SOFR Loan would be in otherwise expire on a different calendar month from what would have been the month at the end of such Interest Period, or unless there day which is no numerically corresponding day in the calendar month at the end of the Interest Period; whereuponnot a Business Day, such Interest Period shall end expire on the last next succeeding Business Day; provided, however, that if any Interest Period for a SOFR Loan would otherwise expire on a day which is not a Business Day but is a day of the month after which no further Business Day occurs in the calendar month at the end of such month, such Interest Period)Period shall expire on the next preceding Business Day; (ce) unless the Required Lenders otherwise agree, no Interest Period may be chosen with respect to selected at any portion time when an Event of the Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal DebtDefault is then in existence; and (df) no more than an aggregate Interest Period in respect of five (5) Interest Periods any Borrowing shall be in effect at one time.selected which extends beyond the Revolving Commitment Termination Date. If by 1:00 P.M. on the third Business Day prior to the expiration of any Interest Period applicable to a Borrowing of SOFR Loans, any Borrower has failed to elect, or is not permitted to elect, a new Interest Period to be applicable to such SOFR Loans as provided above, such Borrower shall be deemed to have elected to convert such SOFR Loans into Base Rate Loans effective as of the expiration date of such current Interest Period. 2.10

Appears in 1 contract

Samples: Credit Agreement (CVR Energy Inc)

Interest Periods. When Borrower requests any Eurodollar Rate Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which shall be, at Borrower's option and subject to availabilityoption, one, two, three, or six months or, if available to all Facility B Lenders, nine or twelve months; provided, however, that: (a) the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date of such Borrowing 18 24 (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period); (c) no Interest Period may be chosen with respect to any portion of the Facility B Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debt; and (d) no more than an aggregate of five twenty (520) Interest Periods (including, without limitation, Interest Periods under Facility A) shall be in effect at one time.

Appears in 1 contract

Samples: Term Loan Agreement (Worldcom Inc /Ga/)

Interest Periods. When At the time the Borrower requests gives the Notice of Funding, or prior to 1:00 P.M. (New York time) on the third Business Day prior to the expiration of an Interest Period applicable to a Eurodollar Loan (in the case of any Eurodollar Rate Borrowingsubsequent Interest Period), the Borrower may shall have the right to elect the interest period (each an "INTEREST PERIODInterest Period") applicable theretoto such Eurodollar Loan, which shall beInterest Period shall, at the option of the Borrower's option and subject to availability, be a one, two, three, three or six monthssix-month period; provided, however, that: provided that (ain each case): (i) the initial Interest Period for a any Eurodollar Rate Borrowing Loan shall commence on the date of Borrowing or conversion of such Borrowing (including the date of any conversion thereto), Eurodollar Loan and each Interest Period occurring thereafter in respect of such Borrowing Eurodollar Loan shall commence on the day on which the next preceding Interest Period applicable thereto expires; (bii) if any Interest Period for a Eurodollar Rate Borrowing Loan begins on a day for which there is no numerically corresponding Business Day day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next last Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such calendar month; (iii) if any Interest Period (unless such date for a Eurodollar Loan would be in otherwise expire on a different calendar month from what would have been the month at the end of such Interest Period, or unless there day which is no numerically corresponding day in the calendar month at the end of the Interest Period; whereuponnot a Business Day, such Interest Period shall end expire on the last next succeeding Business Day; provided, however, that if any Interest Period for such Eurodollar Loan would otherwise expire on a day which is not a Business Day but is a day of the month after which no further Business Day occurs in the calendar month at the end of such month, such Interest Period)Period shall expire on the next preceding Business Day; (civ) no Interest Period may be chosen with selected at any time when a Default or an Event of Default is then in existence; (v) no Interest Period in respect to of any portion Borrowing of the Principal Debt any Eurodollar Loan shall be selected which would extend extends beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal DebtTranche B Maturity Date; and (dvi) no more than an aggregate on the Closing Date, the Interest Period in respect of five the Continued Tranche B Loan shall expire (5) subject to payment by the Borrower of any breakage costs pursuant to Section 2.8, determined as if the expiration of such existing Interest Periods Period on the Closing Date were a prepayment made on the Closing Date), and the next Interest Period selected on or after the Closing Date shall end on the first Business Day which occurs on or after the date which is 91 days after the Closing Date. If upon the expiration of any Interest Period applicable to any Eurodollar Loan, the Borrower has failed to elect, or is not permitted to elect, a new Interest Period to be applicable to such Eurodollar Loan as provided above, the Borrower shall be deemed to have elected a one-month Interest Period effective as of the expiration date of such current Interest Period. For purposes of calculating the funding fee payable pursuant to Paragraph 4 of the Escrow Agreement, such funding fee shall be calculated as if an Interest Period in effect at one time.respect of the New Tranche B Loan began on the Closing Date and ended on the first Business Day to occur on or after the date which is 91 days after the Closing Date. 2.7

Appears in 1 contract

Samples: Credit Agreement (Pg&e Corp)

Interest Periods. When At the time the Borrower requests any Eurodollar Rate gives a Notice of Borrowing or Notice of Conversion or Continuation in respect of the making of, or conversion into or continuation as, a Borrowing of LIBOR Loans (in the case of the initial Interest Period applicable thereto) or prior to 11:00 a.m. (New York City time) on the third Business Day prior to the expiration of an Interest Period applicable to a Borrowing of LIBOR Loans, the Borrower shall have the right to elect by giving the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) the Interest Period applicable to such Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which shall beInterest Period shall, at Borrower's the option and subject to availability, of the Borrower be a one, two, three, six or six months(if agreed to by all the Lenders making such loans) a nine or twelve month period; provided, however, thatprovided that the initial Interest Period may be for a period less than one month if agreed upon by the Borrower and the Administrative Agent. Notwithstanding anything to the contrary contained above: (a) the initial Interest Period for a Eurodollar Rate any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion thereto)from a Borrowing of ABR Loans) and shall end on the numerically corresponding day in the calendar month that is one, two, three, six (or, if applicable as provided above) nine or twelve months thereafter, and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for relating to a Eurodollar Rate Borrowing of LIBOR Revolving Credit Loans begins on the last Business Day of a calendar month or begins on a day for which there is no numerically corresponding Business Day day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in of the calendar month at the end of such Interest Period); (c) no if any Interest Period may be chosen with would otherwise expire on a day that is not a Business Day, such Interest Period shall expire on the next succeeding Business Day; provided that if any Interest Period in respect to any portion of a LIBOR Loan would otherwise expire on a day that is not a Business Day but is a day of the Principal Debt month after which no further Business Day occurs in such month, such Interest Period shall expire on the next preceding Business Day; (d) the Borrower shall not be entitled to elect any Interest Period in respect of any LIBOR Loan if such Interest Period would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for applicable Maturity Date of such portion of the Principal DebtLoan; and (d) no more than an aggregate of five (5) Interest Periods shall be in effect at one time.and

Appears in 1 contract

Samples: Credit Agreement (WideOpenWest, Inc.)

Interest Periods. When Borrower requests any Eurodollar Rate Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which shall may be, at Borrower's option and subject to availability, one, two, three, or six months; provided, however, that: (a) the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period); (c) no Interest Period may be chosen with respect to any portion of the Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debt; and (d) no more than an aggregate of five six (56) Interest Periods shall be in effect at one time.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Coorstek Inc)

Interest Periods. When At the time it gives any Notice of Borrowing or Notice of Conversion in respect of the making of, or conversion into any Eurocurrency Rate Loan, the relevant Borrower requests any Eurodollar Rate Borrowingshall have the right to elect, Borrower may elect by giving the Administrative Agent notice thereof, the interest period or interest periods (each each, an "INTEREST PERIODInterest Period") applicable theretoto such Eurocurrency Rate Loan, each of which shall beshall, at the option of such Borrower's option and subject to availability, be a one, two, three, six or six months; provided(subject to availability as determined by 100% of the Banks) nine month period or, however(subject to availability as determined by 100% of the Banks) if such Eurocurrency Rate Loan is a Term Loan made pursuant to Section 3.05 hereof, twelve month period, provided that: (ai) all Eurocurrency Rate Loans comprising a Borrowing shall at all times have the same Interest Period except as otherwise required by Section 2.10(b); (ii) the initial Interest Period for a Eurodollar any Eurocurrency Rate Borrowing Loan shall commence on the date of Borrowing of such Borrowing Loan (including the date of any conversion theretoof a Base Rate Loan into Eurodollar Rate Loan), and each ; (iii) if the Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for relating to a Eurodollar Eurocurrency Rate Borrowing Loan begins on a day for which there is no numerically corresponding Business Day day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next last Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such calendar month; (iv) if any Interest Period (unless such date would be in otherwise expire on a different calendar month from what would have been the month at the end of such Interest Period, or unless there day which is no numerically corresponding day in the calendar month at the end of the Interest Period; whereuponnot a Business Day, such Interest Period shall end expire on the last next succeeding Business Day; provided, however, that if the Interest Period for a Eurocurrency Rate Loan would otherwise expire on a day which is not a Business Day but is a day of the month after which no further Business Day occurs in the calendar month at the end of such month, such Interest Period)Period shall expire on the next preceding Business Day; and (cv) no Interest Period may be chosen with respect to any portion of the Principal Debt which would shall extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debt; and (d) no more than an aggregate of five (5) Interest Periods shall be in effect at one timeCommitment Termination Date.

Appears in 1 contract

Samples: Credit Agreement (Omnicom Group Inc)

Interest Periods. When At any time when the Borrower requests any Eurodollar shall select, convert to or renew the CD Rate BorrowingOption, Revolving Credit Euro-Rate Option or Facility A Term Loan Option, the Borrower may elect shall notify the Agent thereof by delivering a Facility A Loan Request at least one (1) Business Day prior to the effective date of a CD Rate Option, three (3) Business Days prior to the effective date of a Revolving Credit Euro-Rate Option or the Facility A Term Loan Option, and one (1) Business Day prior to the effective date of the Federal Funds/Euro-Rate Option. The notice shall specify an interest period during which such Option shall apply, such periods may be (each an i) 30, 60, 90, 180, 270 or 360 days in the event of a CD Rate Option (the "INTEREST PERIODCD Rate Interest Period"), provided that the Facility A Banks shall not be required to accept a request by Borrower for a CD Interest Period of 270 or 360 days unless all of the Facility A Banks in their discretion agree to such a period, (ii) applicable thereto, which shall be, at Borrower's option and subject to availability, one, two, threethree or six, nine or six months; providedtwelve months in the event of a Revolving Credit Euro-Rate Option provided that the Facility A Banks shall not be required to accept a request by Borrower for an interest period of nine or twelve months unless all of the Facility A Banks in their discretion agree to such a period (the "Revolving Credit Euro-Rate Interest Period"), however(iii) for a period beginning on the date of the election and ending on the Mandatory Reduction Date in the case of a Mandatory Reduction Date Facility A Term Loan Option, thatand (iv) for a period beginning on the date of the election and ending on the Expiration Date in the case of an Expiration Date Facility A Term Loan Option. The CD Rate Interest Period and any Euro-Rate Interest Period shall be subject to the following additional requirements: (a) the initial any CD Rate Interest Period for a Eurodollar or Euro-Rate Borrowing shall commence on the date of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing which would otherwise end on a date which is not a Business Day shall commence on the day on which be extended to the next preceding succeeding Business Day unless such Business Day falls in the next calendar month, in which case such CD Rate Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar or Euro-Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next preceding Business Day immediately following what otherwise would have been such numerically corresponding Day; (b) any Euro-Rate Interest Period which begins on the last day in the of a calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless for which there is no numerically corresponding day in the subsequent calendar month at the end of the Interest Period; whereupon, during which such Interest Period is to end shall end on the last Business Day of such subsequent month; (c) the CD Rate Portion and the Euro-Rate Portion for each CD Rate Interest Period and Euro-Rate Interest Period shall be in integral multiples of $100,000 and each such Portion shall not be less than $2,000,000; (d) the Borrower shall not select, convert to or renew a CD Rate Interest Period or a Euro-Rate Interest Period for any portion of the Facility A Loans that would end after the Expiration Date; and (e) in the calendar month case of the renewal of a CD Rate Option at the end of such a CD Rate Interest Period or the renewal of a Euro-Rate Option at the end of a Euro-Rate Interest Period); (c) no , the first day of the new Interest Period may shall be chosen with respect to any portion the last day of the Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) preceding Interest Period, without duplication in payment of interest for such portion of the Principal Debt; and (d) no more than an aggregate of five (5) Interest Periods shall be in effect at one time.day. 3.03

Appears in 1 contract

Samples: Credit Agreement (Toll Brothers Inc)

Interest Periods. When Borrower requests any Eurodollar Rate Borrowing, Borrower may elect the interest period (each an "INTEREST PERIODInterest Period") applicable thereto, which shall may be, at Borrower's option and subject to availabilityoption, one, two, three, or six monthsmonths (or other periods, if requested by Borrower and consented to by all Lenders which have been requested to make such Borrowing); provided, however, that: (a) the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period); (c) no Interest Period may be chosen with respect to any portion of the Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debt; and (d) no more than an aggregate of five ten (510) Interest Periods shall be in effect at one time.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Acx Technologies Inc)

Interest Periods. When Borrower the Company requests any Eurodollar Rate Borrowing, Borrower the Company may elect the interest period (each an "INTEREST PERIODInterest Period") applicable thereto, which shall be, at Borrowerthe Company's option and subject to availabilityoption, in respect of any Eurodollar Rate Borrowing, one, two, three, or six months; provided, however, that: (a) the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period); (c) no Interest Period may be chosen with respect to any portion of the Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debt; and (d) no more than an aggregate of five six (56) Interest Periods shall be in effect at one time.

Appears in 1 contract

Samples: Term Loan Agreement (Williams Companies Inc)

Interest Periods. When Borrower requests Restricted Borrowers (or with respect to Borrowings by Unrestricted Borrowers, Unrestricted Borrowers and Restricted Borrowers) request any Eurodollar Rate Borrowing, Borrower Restricted Borrowers (or with respect to Borrowings by Unrestricted Borrowers, Unrestricted Borrowers and Restricted Borrowers) may elect the interest period (each an "INTEREST PERIODInterest Period") applicable thereto, which shall be, at Borrower's option Restricted Borrowers' (or with respect to Borrowings by Unrestricted Borrowers, Unrestricted Borrowers' and subject to availabilityRestricted Borrowers') option, one, two, three, six, or six (subject to availability) twelve months; provided, however, that: (a) the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, then such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period); (c) no Interest Period may be chosen with respect to any portion of the Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debt; and (d) no more than an aggregate of fifteen (15) Interest Periods for both the Revolver Facility and the Discretionary Revolver Subfacility and five (5) Interest Periods for both the Term Loan Facility and the Discretionary Term Loan Subfacility shall be in effect at one time.

Appears in 1 contract

Samples: Pledge Agreement (Adelphia Communications Corp)

Interest Periods. When At the time Lead Borrower requests gives any Eurodollar Notice of Borrowing or Notice of Conversion/Continuation in respect of the making of, or conversion into, any LIBO Rate BorrowingTerm Loan (in the case of the initial Interest Period applicable thereto) or prior to 12:00 Noon (New York City time) on the third Business Day prior to the expiration of an Interest Period applicable to such LIBO Rate Term Loan (in the case of any subsequent Interest Period), Lead Borrower may shall have the right to elect the interest period (each each, an "INTEREST PERIOD"“Interest Period”) applicable theretoto such LIBO Rate Term Loan, which shall beInterest Period shall, at Borrower's the option and subject to availability, of Lead Borrower be a one, two, three, three or six monthsmonth period, or, if agreed to by all Lenders, a twelve month period, or, if agreed to by the Administrative Agent a period less than one month; provided, however, that: provided that (a) in each case): all LIBO Rate Term Loans comprising a Borrowing shall at all times have the same Interest Period; the initial Interest Period for a Eurodollar any LIBO Rate Borrowing Term Loan shall commence on the date of Borrowing of such Borrowing LIBO Rate Term Loan (including including, in the case of LIBO Rate Term Loans, the date of any conversion thereto), thereto from a Borrowing of Base Rate Term Loans) and each Interest Period occurring thereafter in respect of such Borrowing LIBO Rate Term Loan shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar LIBO Rate Borrowing Term Loan begins on a day for which there is no numerically corresponding Business Day day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next last Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such calendar month; if any Interest Period (unless such date for a LIBO Rate Term Loan would be in otherwise expire on a different calendar month from what would have been the month at the end of such Interest Period, or unless there day which is no numerically corresponding day in the calendar month at the end of the Interest Period; whereuponnot a Business Day, such Interest Period shall end expire on the last next succeeding Business Day; provided, however, that if any Interest Period for a LIBO Rate Term Loan would otherwise expire on a day which is not a Business Day but is a day of the month after which no further Business Day occurs in such month, such Interest Period shall expire on the calendar month next preceding Business Day; unless the Required Lenders otherwise agree, no Interest Period for a LIBO Rate Term Loan may be selected at any time when an Event of Default is then in existence; and no Interest Period in respect of any Borrowing of any Tranche of Term Loans shall be selected which extends beyond the Maturity Date therefor. With respect to any LIBO Rate Term Loans, at the end of any Interest Period applicable to a Borrowing thereof, Lead Borrower may elect to split the respective Borrowing of a single Type under a single Tranche into two or more Borrowings of different Types under such Tranche or combine two or more Borrowings under a single Tranche into a single Borrowing of the same Type under such Tranche, in each case, by Lead Borrower giving notice thereof together with its election of one or more Interest Periods applicable thereto, in each case so long as each resulting Borrowing (x) has an Interest Period which complies with the foregoing requirements of this Section 2.09, (y) has a principal amount which is not less than the Minimum Borrowing Amount applicable to Borrowings of the respective Type and Tranche, and (z) does not cause a violation of the requirements of Section 2.02. If by 12:00 Noon (New York City time) on the third Business Day prior to the expiration of any Interest Period applicable to a Borrowing of LIBO Rate Term Loans, Lead Borrower has failed to elect, or is not permitted to elect, a new Interest Period to be applicable to such LIBO Rate, Lead Borrower shall be deemed to have elected in the case of LIBO Rate Term Loans, to convert such LIBO Rate Term Loans into Base Rate Term Loans with such conversion to be effective as of the expiration date of such current Interest Period); (c) no Interest Period may be chosen with respect to any portion of the Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debt; and (d) no more than an aggregate of five (5) Interest Periods shall be in effect at one time.

Appears in 1 contract

Samples: Credit Agreement (VERRA MOBILITY Corp)

Interest Periods. When Borrower requests At the time it gives any Notice of Borrowing or a Notice of Conversion or Continuation with respect to Eurodollar Rate BorrowingLoans, the Borrower may elect shall elect, by giving the Agent written notice, the interest period (each an "INTEREST PERIODInterest Period") applicable theretoto the related Eurodollar Rate Borrowing, which shall beInterest Period shall, at the option of the Borrower's option and subject to availability, be a one, two, three, three or six months; providedmonth period, however, provided that: (ai) the initial Interest Period for a any Eurodollar Rate Borrowing Loan shall commence on the date of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of a continuation of such Borrowing Eurodollar Rate Loan shall commence on the day on which the next immediately preceding Interest Period applicable thereto for such Loan expires; (bii) if any Interest Period for would otherwise expire on a day which is not a Business Day, such Interest Period shall expire on the next succeeding Business Day, provided, however, that if any Interest Period in respect of a Eurodollar Rate Borrowing Loan would otherwise expire on a day which is not a Business Day and after which no Business Day occurs in the same month, such Interest Period shall expire on the immediately preceding Business Day; (iii) if an Interest Period begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the such Interest Period; whereupon), such Interest Period shall end on the last Business Day in of the first, second, third or sixth, as applicable, succeeding calendar month at the end of such Interest Period)month; and (civ) no Interest Period may be chosen with respect to any portion of the Principal Debt which would shall extend beyond the scheduled repayment date (including Revolver Termination Date for any dates on which mandatory prepayments are required to be made) Revolving Loans, the Term Loan Maturity Date for such portion of the Principal Debt; and (d) no more than an aggregate of five (5) Interest Periods shall be in effect at one timeTerm Loan, the Additional Term Loan Maturity Date for the Additional Term Loan, the Supplemental Revolver Termination Date for any Supplemental Revolving Loans, the D Tranche Term Loan Maturity Date for the D Tranche Term Loan or the E Tranche Term Loan Maturity Date for the E Tranche Term Loan.

Appears in 1 contract

Samples: Credit Agreement (Stone Container Corp)

Interest Periods. When Borrower requests any Eurodollar In connection with each LIBOR Rate BorrowingLoan, in its Notice of Borrowing therefor, Borrower may elect the shall select an interest period (each an "INTEREST PERIODInterest Period") to be applicable theretoto such Loan, which Interest Period shall bebe either a one (1), at Borrower's option and subject to availabilitytwo (2) or three (3) month period, one, two, three, or six months; provided, however, provided that: (a1) the initial Interest Period for a Eurodollar Rate Borrowing any such Loan shall commence on the funding date of such Borrowing Loan; (including 2) in the date case of any conversion thereto)immediately successive Interest Periods, and each successive Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b3) if an Interest Period would otherwise expire on a day that is not a Business Day, such Interest Period shall expire on the next succeeding Business Day, but if any Interest Period for would otherwise expire on a Eurodollar Rate Borrowing day that is not a Business Day but is a day of the month after which no further Business Day occurs in such month, such Interest Period shall expire on the next preceding Business Day; (4) any Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the such Interest Period; whereupon) shall, such Interest Period shall subject to part (5) below, end on the last Business Day in the of a calendar month at the end of such Interest Period)month; (c5) no Interest Period may be chosen shall extend beyond the Termination Date; (6) no Interest Period with respect to any portion of the Principal Debt which would Loans may extend beyond the scheduled repayment a date (including any dates on which mandatory prepayments are Borrower is required to be mademake a scheduled payment of principal with respect to such Loan; (7) the Interest Period for a Loan that is converted pursuant to subparagraph (iii) below shall commence on the date of such portion of conversion and shall expire on the Principal Debtdate on which the Interest Period for the Loans so converted expires; and (d) 8) there shall be no more than an aggregate of five two (52) Interest Periods shall be in effect relating to LIBOR Rate Loans allocated to any one Eligible Supply Contract outstanding at one any time.

Appears in 1 contract

Samples: Loan and Security Agreement (Setech Inc /De)

Interest Periods. When Borrower requests any Eurodollar Rate Borrowing or a Fixed Rate Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which shall be, at Borrower's option and subject to availabilityoption, one, two, three, or six monthsmonths (in respect of any Eurodollar Rate Borrowing) and any period of up to six (6) months (with respect to any Fixed Rate Borrowing); provided, however, that: (a) the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period); (c) no Interest Period may be chosen with respect to any portion of the Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debt; and (d) no more than an aggregate of five (5) Interest Periods shall be in effect at one time.scheduled

Appears in 1 contract

Samples: Credit Agreement (Worldcom Inc /Ga/)

Interest Periods. When Borrower requests any Eurodollar Rate Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which shall be, at Borrower's option and subject to availabilityoption, one, two, three, or six months; providedPROVIDED, howeverHOWEVER, that: (a) the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless UNLESS such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless UNLESS there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period); (c) no Interest Period may be chosen with respect to any portion of the Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debt; and (d) no more than an aggregate of five six (56) Interest Periods shall be in effect at one time.

Appears in 1 contract

Samples: Revolving Credit Agreement (Integrated Orthopedics Inc)

Interest Periods. When At the time it gives any Notice of Borrowing or Notice of Conversion in respect of the making of, or conversion into any Eurocurrency Rate Loan, the relevant Borrower requests any Eurodollar Rate Borrowingshall have the right to elect, Borrower may elect by giving the Administrative Agent notice thereof, the interest period or interest periods (each each, an "INTEREST PERIODInterest Period") applicable theretoto such Eurocurrency Rate Loan, each of which shall beshall, at the option of such Borrower's option and subject to availability, be a one, two, three, six or six months; provided(subject to availability as determined by 100% of the Banks) nine month period, however, provided that: (ai) all Eurocurrency Rate Loans comprising a Borrowing shall at all times have the same Interest Period except as otherwise required by Section 2.10(b); (ii) the initial Interest Period for a Eurodollar any Eurocurrency Rate Borrowing Loan shall commence on the date of Borrowing of such Borrowing Loan (including the date of any conversion theretoof a Base Rate Loan into Eurodollar Rate Loan), and each ; (iii) if the Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for relating to a Eurodollar Eurocurrency Rate Borrowing Loan begins on a day for which there is no numerically corresponding Business Day day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next last Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such calendar month; (iv) if any Interest Period (unless such date would be in otherwise expire on a different calendar month from what would have been the month at the end of such Interest Period, or unless there day which is no numerically corresponding day in the calendar month at the end of the Interest Period; whereuponnot a Business Day, such Interest Period shall end expire on the last next succeeding Business Day; provided, however, that if the Interest Period for a Eurocurrency Rate Loan would otherwise expire on a day which is not a Business Day but is a day of the month after which no further Business Day occurs in the calendar month at the end of such month, such Interest Period)Period shall expire on the next preceding Business Day; and (cv) no Interest Period may be chosen with respect to any portion of the Principal Debt which would shall extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debt; and (d) no more than an aggregate of five (5) Interest Periods shall be in effect at one timeCommitment Termination Date.

Appears in 1 contract

Samples: Credit Agreement (Omnicom Group Inc)

Interest Periods. When Borrower the Company requests any Eurodollar Rate Borrowing, Borrower the Company may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which shall be, at Borrowerthe Company's option and subject to availabilityoption, in respect of any Eurodollar Rate Borrowing, one, two, three, or six months; provided, however, that: (a) the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period); (c) no Interest Period may be chosen with respect to any portion of the Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debt; and (d) no more than an aggregate of five six (56) Interest Periods shall be in effect at one time.

Appears in 1 contract

Samples: Term Loan Agreement (Williams Companies Inc)

Interest Periods. When The Borrower requests may select for any Eurodollar Rate Loan the Interest Period (as defined in the next sentence) for each Borrowing, it being understood that the Borrower may elect request multiple Borrowings on the interest period (same day and may select a different Interest Period for each an "INTEREST PERIOD") applicable theretosuch Borrowing. An Interest Period shall be each period, as selected by the Borrower in accordance with the terms of this Agreement, beginning on the Borrowing Date of any Eurodollar Rate Loan, or on the Conversion/Continuation Date on which shall beany Loan is converted into or continued as a Eurodollar Rate Loan, at Borrower's option and subject to availability, ending on the date specified by the Borrower that is one, two, three, three or six monthsmonths thereafter; provided, however, that: (a) provided that whenever the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date first day of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins occurs on a day of an initial calendar month for which there is no numerically corresponding Business Day day in the calendar month at that succeeds such initial calendar month by the end number of months equal to the number of months in such Interest Period, such Interest Period shall end on the next last Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such succeeding calendar month; and provided further that if the last day of an Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there day that is no numerically corresponding day in the calendar month at the end of the Interest Period; whereuponnot a Business Day, such Interest Period shall be extended to the next succeeding Business Day, unless such next succeeding Business Day is in a different calendar month, in which case such interest period shall end on the last next preceding Business Day in the calendar month at the end of such Interest Period)Day; but provided, however, that (ci) no Interest Period may be chosen with respect applicable to any portion of the Principal Debt which would Revolving Loan shall extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal DebtRevolving Termination Date; and (dii) no more than an aggregate of five (5) Interest Periods Period applicable to any Term Loan shall extend beyond the Term Loan Maturity Date specified in the Borrowing Advice for such Term Loan, which in no event shall be in effect at one timelater than June 5, 2015.

Appears in 1 contract

Samples: Credit Agreement (Schwab Charles Corp)

Interest Periods. When Borrower requests any Eurodollar Rate Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which shall be, at Borrower's option and subject to availabilityoption, in respect of any Eurodollar Rate Borrowing, one, two, three, or six months; provided, however, that: (a) the initial Interest Period INTEREST PERIOD for a Eurodollar Rate Borrowing shall commence on the date of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period); (c) no Interest Period may be chosen with respect to any portion of the Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debt; and (d) no more than an aggregate of five (5) ten Interest Periods shall be in effect at one time.

Appears in 1 contract

Samples: Revolving Credit Agreement (Southdown Inc)

Interest Periods. When The Borrower requests may select for any Eurodollar Rate Loan the Interest Period (as defined in the next sentence) for each Borrowing, it being understood that the Borrower may elect request multiple Borrowings on the interest period (same day and may select a different Interest Period for each an "INTEREST PERIOD") applicable theretosuch Borrowing. An Interest Period shall be each period, as selected by the Borrower in accordance with the terms of this Agreement, beginning on the Borrowing Date of any Eurodollar Rate Loan, or on the Conversion/Continuation Date on which shall beany Loan is converted into or continued as a Eurodollar Rate Loan, at Borrower's option and subject to availability, ending on the date specified by the Borrower that is one, two, three, three or six monthsmonths thereafter; provided, however, that: (a) provided that whenever the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date first day of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins occurs on a day of an initial calendar month for which there is no numerically corresponding Business Day day in the calendar month at that succeeds such initial calendar month by the end number of months equal to the number of months in such Interest Period, such Interest Period shall end on the next last Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such succeeding calendar month; and provided further that if the last day of an Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there day that is no numerically corresponding day in the calendar month at the end of the Interest Period; whereuponnot a Business Day, such Interest Period shall be extended to the next succeeding Business Day, unless such next succeeding Business Day is in a different calendar month, in which case such interest period shall end on the last next preceding Business Day in the calendar month at the end of such Interest Period)Day; but provided, however, that (ci) no Interest Period may be chosen with respect applicable to any portion of the Principal Debt which would Revolving Loan shall extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal DebtRevolving Termination Date; and (dii) no more than an aggregate of five (5) Interest Periods Period applicable to any Term Loan shall extend beyond the Term Loan Maturity Date specified in the Borrowing Advice for such Term Loan, which in no event shall be in effect at one timelater than June 3, 2016.

Appears in 1 contract

Samples: Credit Agreement (Schwab Charles Corp)

Interest Periods. When Borrower requests any Eurodollar Rate Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which shall be, at Borrower's option and subject to availabilityoption, oneone (1) week, twoone (1) month or two (2), threethree (3), or six (6) months, in each case to the extent available from each Lender (or other periods, if requested by Borrower and available from each Lender); provided, however, that: (a) the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date of such Borrowing (including the date of any conversion Conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period (other than a one (1) week Interest Period) for a Eurodollar Rate Borrowing begins on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, then such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in the calendar month at the end of such Interest Period); (c) no Interest Period may be chosen with respect to any portion of the Total Principal Debt which would extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Total Principal Debt; and (d) no more than an aggregate of five (5) Interest Periods shall be in effect at one time.

Appears in 1 contract

Samples: Credit Agreement (Red Lion Hotels CORP)

Interest Periods. When At the time the Borrower requests any Eurodollar Rate gives a Notice of Borrowing or Notice of Conversion or Continuation in respect of the making of, or conversion into or continuation as, a Borrowing of Term SOFR Loans in accordance with Section 2.3(a), the Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of the Interest Period applicable to such Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which shall beInterest Period shall, at the option of the Borrower's option and subject to availability, be a one, two, three, three or six months; provided, however, thatmonth period. Notwithstanding anything to the contrary contained above: (a) the initial Interest Period for a Eurodollar Rate any Borrowing of Term SOFR Loans shall commence on the date of such Borrowing (including the date of any conversion thereto), from a Borrowing of ABR Loans) and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for relating to a Eurodollar Rate Borrowing of Term SOFR Loans begins on the last Business Day of a calendar month or begins on a day for which there is no numerically corresponding Business Day day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the Interest Period; whereupon, such Interest Period shall end on the last Business Day in of the calendar month at the end of such Interest Period); (c) no if any Interest Period may be chosen with would otherwise expire on a day that is not a Business Day, such Interest Period shall expire on the next succeeding Business Day; provided that if any Interest Period in respect to any portion of a Term SOFR Loan would otherwise expire on a day that is not a Business Day but is a day of the Principal Debt month after which would extend beyond no further Business Day occurs in such month, such Interest Period shall expire on the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal Debtnext preceding Business Day; and (d) no more than an aggregate the Borrower shall not be entitled to elect any Interest Period in respect of five (5) any Term SOFR Loan if such Interest Periods shall be in effect at one time.Period would extend beyond the Maturity Date. 2.10

Appears in 1 contract

Samples: Abl Credit Agreement (Avaya Holdings Corp.)

Interest Periods. When The Borrower requests may select for any Eurodollar Rate Loan the Interest Period (as defined in the next sentence) for each Borrowing, it being understood that the Borrower may elect request multiple Borrowings on the interest period (same day and may select a different Interest Period for each an "INTEREST PERIOD") applicable theretosuch Borrowing. An Interest Period shall be each period, as selected by the Borrower in accordance with the terms of this Agreement, beginning on the Borrowing Date of any Eurodollar Rate Loan, or on the Conversion/Continuation Date on which shall beany Loan is converted into or continued as a Eurodollar Rate Loan, at Borrower's option and subject to availability, ending on the date specified by the Borrower that is one, two, three, three or six monthsmonths thereafter; provided, however, that: (a) provided that whenever the initial Interest Period for a Eurodollar Rate Borrowing shall commence on the date first day of such Borrowing (including the date of any conversion thereto), and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b) if any Interest Period for a Eurodollar Rate Borrowing begins occurs on a day of an initial calendar month for which there is no numerically corresponding Business Day day in the calendar month at that succeeds such initial calendar month by the end number of months equal to the number of months in such Interest Period, such Interest Period shall end on the next last Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such succeeding calendar month; and provided further that if the last day of an Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there day that is no numerically corresponding day in the calendar month at the end of the Interest Period; whereuponnot a Business Day, such Interest Period shall be extended to the next succeeding Business Day, unless such next succeeding Business Day is in a different calendar month, in which case such interest period shall end on the last next preceding Business Day in the calendar month at the end of such Interest Period)Day; but provided, however, that (ci) no Interest Period may be chosen with respect applicable to any portion of the Principal Debt which would Revolving Loan shall extend beyond the scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of the Principal DebtRevolving Termination Date; and (dii) no more than an aggregate of five (5) Interest Periods Period applicable to any Term Loan shall extend beyond the Term Loan Maturity Date specified in the Borrowing Advice for such Term Loan, which in no event shall be in effect at one timelater than June 10, 2011.

Appears in 1 contract

Samples: Credit Agreement (Schwab Charles Corp)

Interest Periods. When In connection with each LIBOR Rate Loan, in its Notice of Borrowing therefor, a Borrower requests any Eurodollar Rate Borrowing, Borrower may elect the shall select an interest period (each an "INTEREST PERIOD") to be applicable theretoto such Loan, which Interest Period shall bebe either a one (1), at Borrower's option and subject to availabilitytwo (2) or three (3) month period, one, two, three, or six months; provided, however, PROVIDED that: (a1) the initial Interest Period for a Eurodollar Rate Borrowing any such Loan shall commence on the funding date of such Borrowing Loan; (including 2) in the date case of any conversion thereto)immediately successive Interest Periods, and each successive Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period applicable thereto expires; (b3) if an Interest Period would otherwise expire on a day that is not a Business Day, such Interest Period shall expire on the next succeeding Business Day, but if any Interest Period for would otherwise expire on a Eurodollar Rate Borrowing day that is not a Business Day but is a day of the month after which no further Business Day occurs in such month, such Interest Period shall expire on the next preceding Business Day; (4) any Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding Business Day in the calendar month at the end of such Interest Period, such Interest Period shall end on the next Business Day immediately following what otherwise would have been such numerically corresponding day in the calendar month at the end of such Interest Period (unless such date would be in a different calendar month from what would have been the month at the end of such Interest Period, or unless there is no numerically corresponding day in the calendar month at the end of the such Interest Period; whereupon) shall, such Interest Period shall subject to part (5) below, end on the last Business Day in the of a calendar month at the end of such Interest Period)month; (c5) no Interest Period may be chosen shall extend beyond the Termination Date; (6) no Interest Period with respect to any portion of the Principal Debt which would Loans may extend beyond the scheduled repayment a date (including any dates on which mandatory prepayments are a Borrower is required to be mademake a scheduled payment of principal with respect to such Loan; (7) the Interest Period for a Loan that is converted pursuant to subparagraph (iii) below shall commence on the date of such portion of conversion and shall expire on the Principal Debtdate on which the Interest Period for the Loans so converted expires; and (d) 8) there shall be no more than an aggregate of five two (52) Interest Periods shall be in effect relating to LIBOR Rate Loans allocated to any one Borrower outstanding at one any time.

Appears in 1 contract

Samples: Loan and Security Agreement (Setech Inc /De)

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