Interest Periods. At the time the Borrower 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, which Interest Period shall, at the option of the Borrower be a one, two, three or six month period (or 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 or shorter period). Notwithstanding anything to the contrary contained above: (a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires; (b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period; (c) if any 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 in respect of a LIBOR Loan 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; and (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 Maturity Date of such Loan.
Appears in 17 contracts
Sources: Amendment No. 1 (National Vision Holdings, Inc.), Joinder and Amendment and Restatement Agreement (National Vision Holdings, Inc.), Joinder and Amendment and Restatement Agreement (National Vision Holdings, Inc.)
Interest Periods. At the time the Borrower 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, which Interest Period shall, at the option of the Borrower be a one, two, three or six month period or (or if available to all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions, ) a nine or twelve month or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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 next preceding Business Day; and;
(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 Maturity Date of such Loan; and
(e) interest periods for Additional Swingline Loans shall be as determined by the Borrower and the applicable Additional Swingline Lender pursuant to Section 2.1(c).
Appears in 12 contracts
Sources: Credit Agreement (First Data Corp), Credit Agreement (First Data Corp), Credit Agreement (First Data Corp)
Interest Periods. At the time the Borrower 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, which Interest Period shall, at the option of the Borrower Borrower, be a one, two, three or six month period (or 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 or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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; and
(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 Maturity Date of such Loan.
Appears in 11 contracts
Sources: Credit Agreement (Applovin Corp), Abl Credit Agreement (Claire's Holdings LLC), Credit Agreement (Applovin Corp)
Interest Periods. At the time the Borrower gives a Notice of Borrowing or a 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)prior to 12:00 noon (New York time) on the third Business Day prior to the applicable date of making or conversion or continuation of such LIBOR Loans, the Borrower shall give have the right to elect by giving the Administrative Agent written notice of (or telephonic notice promptly confirmed in writing) the Interest LIBOR Period applicable to such Borrowing, which Interest LIBOR Period shall, at the option of the Borrower Borrower, be a one week or one, two, three or six month period (or 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 or shorter period)months. Notwithstanding anything to the contrary contained above:
(a) the initial Interest LIBOR Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion from a Borrowing of ABR Loans) and each Interest LIBOR Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest LIBOR Period expires;
(b) if any Interest LIBOR Period relating to a 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 day in the calendar month at the end of such Interest LIBOR Period, such Interest LIBOR Period shall end on the last Business Day of the calendar month at the end of such Interest LIBOR Period;
(c) if any Interest LIBOR Period would otherwise expire on a day that is not a Business Day, such Interest LIBOR Period shall expire on the next succeeding Business Day; provided that if any Interest LIBOR Period in respect of a LIBOR Loan 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 LIBOR Period shall expire on the immediately next preceding Business Day; and
(d) the Borrower shall not be entitled to elect any Interest LIBOR Period in respect of any LIBOR Loan if such Interest LIBOR Period would extend beyond the Revolving Credit Maturity Date of such LoanDate.
Appears in 10 contracts
Sources: Revolving Credit Agreement (ITC Holdings Corp.), Revolving Credit Agreement (ITC Holdings Corp.), Revolving Credit Agreement (ITC Holdings Corp.)
Interest Periods. At the time the Borrower 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 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 give have the right to elect by giving the Administrative Agent written notice of (or telephonic notice promptly confirmed in writing) the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower be a one, two, three three, six or six month period (or if available agreed to by all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions, loans) a nine or twelve month or shorter period); provided 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 any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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 next preceding Business Day; and;
(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 applicable Maturity Date of such Loan; and
(e) in the event the Borrower fails to specify an Interest Period for any LIBOR Loan, the Borrower shall be deemed to have selected an Interest Period of one month.
Appears in 6 contracts
Sources: Credit Agreement (WideOpenWest Finance, LLC), Credit Agreement (WideOpenWest Finance, LLC), Credit Agreement (WideOpenWest Finance, LLC)
Interest Periods. At the time the Borrower 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, which Interest Period shall, at the option of the Borrower be (i) a oneone-, twotwo-, three three- or six month period six- or (or 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 twelve-month period or (ii) any period shorter period)than one month (if available to all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions) as requested by the Borrower. Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 that, if any Interest Period in respect of a LIBOR Loan would otherwise expire on a day that is not a Business Day 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 next preceding Business Day; and
(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 Maturity Date of such LoanDate.
Appears in 6 contracts
Sources: Credit Agreement (Vine Energy Inc.), Credit Agreement (Vine Energy Inc.), Credit Agreement (Vine Energy Inc.)
Interest Periods. At the time the Borrower 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, which Interest Period shall, at the option of the Borrower Borrower, be a one, two, three or six month period (or if available to approved by all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions, a twelve month or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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; and
(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 Maturity Date of such Loan.
Appears in 6 contracts
Sources: Abl Credit Agreement (Academy Sports & Outdoors, Inc.), Credit Agreement (Academy Sports & Outdoors, Inc.), Abl Credit Agreement (Academy Sports & Outdoors, Inc.)
Interest Periods. At the time the Borrower 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)Loans, the Borrower shall give the Administrative Agent written notice of the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower be a one, two, three or six month period (or 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 or a period shorter periodthan one month). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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; and
(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 Maturity Date of such Loan.
Appears in 6 contracts
Sources: Credit Agreement (Canada Goose Holdings Inc.), Credit Agreement (Canada Goose Holdings Inc.), Credit Agreement (Canada Goose Holdings Inc.)
Interest Periods. At the time the Parent Borrower 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 SOFR Loans in accordance with Section 2.6(a), the Parent Borrower shall give the Administrative Agent written notice of the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower Parent Borrower, be a one, two, one or three or six month period with respect to SOFR Loans (or if available to all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditionsSOFR Loans, a twelve month or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR SOFR Loans shall commence on the date of such Borrowing (including the date of any conversion from a Borrowing of ABR LoansLoans 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 expires;
(b) if any Interest Period relating to a Borrowing of LIBOR SOFR Loans begins on the last Business Day of a calendar month or begins on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR SOFR Loan 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; and
(d) the Parent Borrower shall not be entitled to elect any Interest Period in respect of any LIBOR SOFR Loan if such Interest Period would extend beyond the Maturity Date of such Loan.
Appears in 6 contracts
Sources: Credit Agreement (Csquare, Inc.), Credit Agreement (Csquare, Inc.), u.s. Revolving Credit Agreement (Csquare, Inc.)
Interest Periods. At the time the Borrower 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, which Interest Period shall, at the option of the Borrower be a one, two, three or six month period or (or if available to all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions) a 12-month period or any shorter period requested by the Borrower; provided that, notwithstanding the foregoing, the initial Interest Period beginning on the Funding Date may be for a twelve period less than one month or shorter period)if agreed upon by the Borrower, the Administrative Agent and each of the Lenders. Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 that, if any Interest Period in respect of a LIBOR Loan would otherwise expire on a day that is not a Business Day 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 next preceding Business Day; and
(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 Maturity Date of such LoanDate.
Appears in 5 contracts
Sources: Credit Agreement (California Resources Corp), Credit Agreement (California Resources Corp), Credit Agreement (California Resources Corp)
Interest Periods. At the time the Borrower 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 SOFR 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, which Interest Period shall, at the option of the Borrower Borrower, be (i) in the case of a Term SOFR Loan, a one, two, three or six month period and (or if available to all ii) in the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditionscase of a Daily Simple SOFR Loan, a twelve month or shorter one week period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR SOFR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a Borrowing of LIBOR 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Term SOFR Loan 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 next preceding Business Day; and;
(d) the Borrower shall not be entitled to elect any Interest Period in respect of any LIBOR SOFR Loan if such Interest Period would extend beyond the Revolving Credit Maturity Date Date; and
(e) no tenor that has been removed from this Section 2.9 shall be available for specification in such Notice of such LoanBorrowing or Notice of Conversion or Continuation.
Appears in 4 contracts
Sources: Credit Agreement (Vistra Corp.), Credit Agreement (Vistra Corp.), Credit Agreement (Vistra Corp.)
Interest Periods. At the time the Borrower 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, which Interest Period shall, at the option of the Borrower Borrower, be a one, two, three or six month period or (or if available to all relevant Lenders participating in the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions, relevant Credit Facility) a twelve month period or shorter period)a period of less than one month. Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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 next preceding Business Day; and
(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 applicable Maturity Date of such Term Loan.
Appears in 4 contracts
Sources: Term Loan Credit Agreement (Avaya Holdings Corp.), Term Loan Credit Agreement (Avaya Holdings Corp.), Term Loan Credit Agreement (Avaya Holdings Corp.)
Interest Periods. At the time the Borrower 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, which Interest Period shall, at the option of the Borrower be (i) a oneone-, twotwo-, three three- or six month period six- or (or 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 nine- or twelve-month period or (ii) any period shorter period)than one month (if available to all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions) as requested by the Borrower. Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 that, if any Interest Period in respect of a LIBOR Loan would otherwise expire on a day that is not a Business Day 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 next preceding Business Day; and
(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 Maturity Date of such LoanDate.
Appears in 4 contracts
Sources: Senior Secured Superpriority Debtor in Possession Credit Agreement (EP Energy LLC), Credit Agreement (Athlon Energy Inc.), Credit Agreement (Athlon Energy Inc.)
Interest Periods. At the time the Borrower 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, which Interest Period shall, at the option of the Borrower Borrower, be a one, two, three or six month period (or if available to approved by all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions, a twelve 12-month or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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; and
(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 Maturity Date of such Loan.
Appears in 4 contracts
Sources: Second Lien Credit Agreement (HireRight GIS Group Holdings, LLC), First Lien Credit Agreement (HireRight GIS Group Holdings, LLC), Second Lien Credit Agreement (Focus Financial Partners Inc.)
Interest Periods. At the time the Borrower 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 case of the initial Interest Period applicable thereto) or prior to 10:00 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 give have the right to elect by giving the Administrative Agent written notice of (or telephonic notice promptly confirmed in writing) the Interest Period applicable to such Borrowing, which Interest Period shall, except as contemplated by Section 2.1(a), at the option of the Borrower be a one, two, three three, six or six month period (or in the case of Revolving Credit Loans, if available to all the Lenders making such LIBOR Loans loans as determined by such Lenders in good faith based on prevailing market conditions, ) a nine or twelve month or shorter period); provided that the initial Interest Period may be for a period less than one month if agreed upon by the Borrower and the Agents. Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion from a Borrowing of ABR LoansLoans or) and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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 next preceding Business Day; and
(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 applicable Maturity Date of such Loan.
Appears in 4 contracts
Sources: Amendment No. 6 (Intelsat S.A.), Amendment No. 5 and Joinder Agreement (Intelsat S.A.), Amendment No. 3 and Joinder Agreement (Intelsat S.A.)
Interest Periods. At the time the Borrower 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 Sections 2.3(a) and 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, which Interest Period shall, at the option of the Borrower be a one, two, three or six month period (or 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 or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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 next preceding Business Day; and
(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 Maturity Date of such Loan.
Appears in 4 contracts
Sources: Senior Unsecured Interim Loan Agreement (First Data Corp), Senior Subordinated Interim Loan Agreement (First Data Corp), Senior Unsecured Interim Loan Agreement (First Data Corp)
Interest Periods. At the time the Borrower 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, which Interest Period shall, at the option of the Borrower be a one, two, three or six month period or (or if available to all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions, ) a nine or twelve month or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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 next preceding Business Day; and
(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 applicable Maturity Date of such Loan.
Appears in 3 contracts
Sources: Credit Agreement (Dollar General Corp), Credit Agreement (Dollar General Corp), Credit Agreement (Dollar General Corp)
Interest Periods. At the time the Borrower 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 Term Benchmark 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, which Interest Period shall, at the option of the Borrower be a one, two, three or six month period (or 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 or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Term Benchmark Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a Borrowing of LIBOR Term Benchmark Loans begins on the last Business Day of a calendar month or begins on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Term Benchmark Loan 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 next preceding Business Day; and
(d) the Borrower shall not be entitled to elect any Interest Period in respect of any LIBOR Term Benchmark Loan if such Interest Period would extend beyond the Maturity Date of such Loan.
Appears in 3 contracts
Sources: Credit Agreement (Figma, Inc.), Credit Agreement (Chime Financial, Inc.), Credit Agreement (Chime Financial, Inc.)
Interest Periods. At the time the Borrower gives a Notice of Borrowing or a Notice of Conversion or Continuation in respect of the making of, or conversion into or continuation as, a Borrowing of LIBOR SOFR Loans in accordance with Section 2.6(a)Sections 2.03 or 2.06, as applicable, prior to the expiration of the Interest Period applicable to such SOFR Loans, the Borrower shall give the Administrative Agent written notice of may elect the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower Borrower, be a one, twoone (1), three (3) or six (6) month period (or 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 or shorter period). Notwithstanding anything to the contrary contained above; provided that:
(a) the initial Interest Period for any Borrowing of LIBOR SOFR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 immediately preceding Interest Period expires;
(b) if any Interest Period relating to a Borrowing of LIBOR SOFR Loans begins on the last Business Day of a calendar month or begins on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR SOFR Loan 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; and
(d) the Borrower shall not be entitled to elect any Interest Period in respect of any LIBOR SOFR Loan if such Interest Period would extend beyond the applicable Maturity Date of such Loan.
Appears in 3 contracts
Sources: Credit Agreement (Rubrik, Inc.), Credit Agreement (Rubrik, Inc.), Credit Agreement (Rubrik, Inc.)
Interest Periods. At the time Holdings or the Borrower 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), Holdings or the Borrower shall give the Administrative Agent written notice of the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of Holdings or the Borrower be a one, two, three or six month period (or 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 or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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; and
(d) the no Borrower shall not be entitled to elect any Interest Period in respect of any LIBOR Loan if such Interest Period would extend beyond the Maturity Date of such Loan.
Appears in 3 contracts
Sources: Credit Agreement (PRA Health Sciences, Inc.), Credit Agreement (PRA Health Sciences, Inc.), Credit Agreement (PRA Health Sciences, Inc.)
Interest Periods. At the time the Borrower 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 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, which Interest Period shall, at the option of the Borrower Borrower, be a one, two, three or six month period (or if available to approved by all the Lenders making such LIBOR SOFR Loans as determined by such Lenders in good faith based on prevailing market conditions, a twelve 12 month or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR SOFR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a Borrowing of LIBOR SOFR Loans begins on the last Business Day of a calendar month or begins on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR SOFR Loan 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; and
(d) the Borrower shall not be entitled to elect any Interest Period in respect of any LIBOR SOFR Loan if such Interest Period would extend beyond the Maturity Date of such Loan.
Appears in 3 contracts
Sources: First Lien Credit Agreement (BrightSpring Health Services, Inc.), First Lien Credit Agreement (BrightSpring Health Services, Inc.), First Lien Credit Agreement (BrightSpring Health Services, Inc.)
Interest Periods. At the time the Borrower 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, which Interest Period shall, at the option of the Borrower Borrower, be a one, two, three or six month period (or if available to approved by all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions, a twelve 12 month or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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; and
(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 Maturity Date of such Loan.
Appears in 3 contracts
Sources: Second Lien Credit Agreement (BrightSpring Health Services, Inc.), Second Lien Credit Agreement (BrightSpring Health Services, Inc.), Joinder Agreement and Amendment No. 5 (BrightSpring Health Services, Inc.)
Interest Periods. At the time the Borrower 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, which Interest Period shall, at the option of the Borrower be a one, two, three or six month period or (or if available to all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions) a 12-month period or any shorter period requested by the Borrower; provided that, notwithstanding the foregoing, the initial Interest Period beginning on the Closing Date may be for a twelve period less than one month or shorter period)if agreed upon by the Borrower, the Administrative Agent and each of the Lenders. Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 that, if any Interest Period in respect of a LIBOR Loan would otherwise expire on a day that is not a Business Day 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 next preceding Business Day; and
(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 Maturity Date of such LoanDate.
Appears in 3 contracts
Sources: Credit Agreement (Range Resources Corp), Credit Agreement (Range Resources Corp), Credit Agreement (Concho Resources Inc)
Interest Periods. At the time the Borrower 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)Term SOFR Loans, the Borrower shall give the Administrative Agent written notice of the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower be a one, twoone month, three month or six month period (or if available agreed to by all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditionsTerm SOFR Loans, a twelve month period or shorter any other period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Term SOFR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a Borrowing of LIBOR 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;; and
(c) if any 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 in respect of a LIBOR Term SOFR Loan 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; and
(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 Maturity Date of such Loan.
Appears in 3 contracts
Sources: Credit Agreement (Bob's Discount Furniture, Inc.), Credit Agreement (Surgery Partners, Inc.), Credit Agreement (Surgery Partners, Inc.)
Interest Periods. At the time the Borrower 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, which Interest Period shall, at the option of the Borrower be a one, two, three or six six-month period or (or 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 ) any period shorter than one month or shorter period)requested by the Borrower. Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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 next preceding Business Day; and
(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 applicable Maturity Date of such Loan.
Appears in 3 contracts
Sources: Credit Agreement (Samson Resources Corp), Second Lien Term Loan Credit Agreement (Samson Holdings, Inc.), Term Loan Credit Agreement (Tesoro Corp /New/)
Interest Periods. At the time the Borrower 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 Term 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, which Interest Period shall, at the option of the Borrower Borrower, be a one, two, three or six month period (period; provided that no tenor that has been removed pursuant to Section 5.8 shall be available for specification in any such Notice of Borrowing or 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 Notice of Conversion or shorter period)Continuation. Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Term SOFR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a Borrowing of LIBOR 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Term SOFR Loan 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; and
(d) the Borrower shall not be entitled to elect any Interest Period in respect of any LIBOR Term SOFR Loan if such Interest Period would extend beyond the Maturity Date of such Loan.
Appears in 3 contracts
Sources: Credit Agreement (SailPoint Parent, LP), Credit Agreement (SailPoint Parent, LP), Credit Agreement (SailPoint Parent, LP)
Interest Periods. At Concurrently with the time the Borrower gives giving of a Notice of Borrowing or Notice of Conversion or Conversion/Continuation in respect of the making ofany Revolving Borrowing comprised of Base Rate Loans to be converted into, or conversion into or continuation LIBOR Loans to be continued as, a Borrowing of LIBOR Loans in accordance with Section 2.6(a)Loans, the Borrower shall give have the Administrative Agent written notice of right to elect, pursuant to such notice, the Interest Period to be applicable to such BorrowingLIBOR Loans; provided, which Interest Period shallhowever, at the option of the Borrower be a one, two, three or six month period (or 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 or shorter period). Notwithstanding anything to the contrary contained abovethat:
(ai) all LIBOR Loans comprising a single Borrowing shall at all times have the same Interest Period;
(ii) the initial Interest Period for any Borrowing of LIBOR Loans Loan shall commence on the date of the Borrowing of such Borrowing LIBOR Loan (including the date of any continuation of, or conversion from a Borrowing of ABR Loans) into, such LIBOR Loan), and each successive Interest Period occurring thereafter in respect of applicable to such Borrowing LIBOR Loan shall commence on the day on which the next preceding Interest Period applicable thereto expires;
(biii) LIBOR Loans may not be outstanding under more than ten (10) separate Interest Periods at any one time (for which purpose Interest Periods shall be deemed to be separate even if they are coterminous);
(iv) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any Interest Period otherwise would otherwise expire on a day that is not a Business Day, such Interest Period shall expire on the next succeeding Business Day unless such next succeeding Business Day falls in another calendar month, in which case such Interest Period shall expire on the next preceding Business Day;
(v) the Borrower may not select any Interest Period that expires after the Maturity Date; provided that and
(vi) if any Interest Period in respect of a LIBOR Loan would otherwise expire begins on a day that for which there is not a Business Day but is a no numerically corresponding day of in the calendar month after during which no further Business Day occurs in such monthInterest Period would otherwise expire, such Interest Period shall expire on the immediately preceding last Business Day; and
(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 Maturity Date Day of such Loancalendar month.
Appears in 3 contracts
Sources: Credit Agreement (Markel Corp), Credit Agreement (Markel Corp), Credit Agreement (Markel Corp)
Interest Periods. At the time a Borrower or the Parent Borrower 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 Term SOFR Loans or Eurocurrency Loans in accordance with Section 2.6(a), the applicable Borrower or the Parent Borrower shall give the Administrative Agent written notice of the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of such Borrower or the Parent Borrower be a one, two, three or six month period (or if available agreed to by all the Lenders making such LIBOR Term SOFR Loans as determined by such Lenders in good faith based on prevailing market conditionsor Eurocurrency Loans, a twelve month or shorter periodsuch other period as selected by the Borrower). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Term SOFR Loans or Eurocurrency Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a Borrowing of LIBOR Term SOFR Loans or Eurocurrency Loans begins on the last Business Day of a calendar month or begins on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Term SOFR Loan or a Eurocurrency Loan 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; and
(d) the Borrower Borrowers shall not be entitled to elect any Interest Period in respect of any LIBOR Term SOFR Loan or Eurocurrency Loan if such Interest Period would extend beyond the Maturity Date of the Credit Facility under which such LoanLoan applies.
Appears in 3 contracts
Sources: Credit Agreement (Mirion Technologies, Inc.), Credit Agreement (Mirion Technologies, Inc.), Credit Agreement (Mirion Technologies, Inc.)
Interest Periods. At the time the Borrower 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)Loans, the Borrower shall give the Administrative Agent written notice of the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower be a one, two, three or six month period (or if available to all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditionsLoans, a twelve month period or a period shorter periodthan one month). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 provided, that if any Interest Period in respect of a LIBOR Loan 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; and
(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 Maturity Date of such Loan.
Appears in 3 contracts
Sources: First Lien Credit Agreement (Aveanna Healthcare Holdings, Inc.), Second Lien Credit Agreement (Aveanna Healthcare Holdings, Inc.), First Lien Credit Agreement (Aveanna Healthcare Holdings, Inc.)
Interest Periods. At the time the Borrower 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 applicable Administrative Agent written notice of the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower Borrower, be a one, two, three or six month period (or if available to approved by all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions, a twelve 12-month or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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; and
(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 Maturity Date of such Loan.
Appears in 3 contracts
Sources: First Lien Credit Agreement (Focus Financial Partners Inc.), First Lien Credit Agreement (Focus Financial Partners Inc.), First Lien Credit Agreement (Focus Financial Partners Inc.)
Interest Periods. At the time the Borrower gives a Notice of Borrowing or Notice of Conversion or Continuation in respect of In connection with the making or continuation of, or conversion into or continuation asinto, a each Borrowing of LIBOR Loans in accordance with Section 2.6(a)Loans, the Borrower Borrowers shall give the Administrative Agent written notice of the select an interest period (each an “Interest Period Period”) to be applicable to such BorrowingLIBOR Loan, which Interest Period shall, at interest period shall commence on the option of the Borrower be a one, two, three or six month period (or if available to all the Lenders making date such LIBOR Loans as determined by such Lenders Loan is made and shall end on a numerically corresponding day in good faith based on prevailing market conditionsthe first, a twelve second or third month or shorter period). Notwithstanding anything to the contrary contained above:
thereafter; provided, however, that: (ai) the initial Interest Period for any Borrowing of a LIBOR Loans Loan shall commence on the date of such Borrowing borrowing (including the date of any conversion from a Borrowing Loan of ABR Loansanother 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 expires;
; (b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(cii) if any 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 that, if any Interest Period in respect of a LIBOR Loan 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; and
(diii) the Borrower shall not be entitled to elect any Interest Period that begins on a day for which there is no numerically corresponding day in respect the calendar month at the end of any LIBOR Loan if such Interest Period would shall expire on the last Business Day of such calendar month; (iv) no Interest Period with respect to any portion of principal of a Loan shall extend beyond a date on which a Borrower is required to make a scheduled payment of such portion of principal; and (v) no Interest Period shall extend beyond the Maturity Date last day of such Loanthe Term.
Appears in 2 contracts
Sources: Senior Secured Revolving Credit and Guaranty Agreement (Euramax International, Inc.), Senior Secured Revolving Credit and Guaranty Agreement (Euramax International, Inc.)
Interest Periods. At the time the Borrower 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, which Interest Period shall, at the option of the Borrower be a oneone-, twotwo-, three three- or six month period six- or (or if available to with the consent of all the Lenders making such LIBOR Loans Loans) a twelve-month period as determined requested by such Lenders in good faith based on prevailing market conditions, a twelve month or shorter period)the Borrower. Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 that, if any Interest Period in respect of a LIBOR Loan would otherwise expire on a day that is not a Business Day 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 next preceding Business Day; and
(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 Maturity Date of such LoanDate.
Appears in 2 contracts
Sources: Credit Agreement (California Resources Corp), Credit Agreement (Legacy Reserves Inc.)
Interest Periods. At 6.01 Subject as provided in Clause 6.02, the time Interest Periods applicable to the Facility shall (subject to market availability) be periods of a duration of one (1), two (2), three (3), six (6), nine (9) or twelve (12) months as selected by the Borrower gives a Notice by written notice to be received by the Lender not later than 11.00 a.m. (London time) on the Nomination Date;
6.02 Notwithstanding the provisions of Borrowing or Notice of Conversion or Continuation Clause 6.01:
6.02.01 the initial Interest Period 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, which Interest Period shall, at the option of the Borrower be a one, two, three or six month period (or 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 or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans Facility shall commence on the date of such Borrowing (including Drawdown Date thereof and shall end on the date of any conversion from a Borrowing of ABR Loans) 29th December 2009 and each subsequent Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which expiry of the next preceding Interest Period expiresin respect thereof;
(b) 6.02.02 if any Interest Period relating would otherwise end on a day which is not a Banking Day, that Interest Period shall be extended to the next succeeding day which is a Borrowing of LIBOR Loans begins Banking Day unless such next succeeding Banking Day falls in another calendar month in which event that Interest Period shall end upon the immediately preceding Banking Day;
6.02.03 if any Interest Period commences on the last Business Banking Day of in a calendar month or begins on a day for which if there is no numerically corresponding day in the calendar month at the end of such in which that Interest PeriodPeriod ends, such that Interest Period shall end on the last Business Banking Day of the calendar month in that later month;
6.02.04 where any Repayment Date occurs other than at the end of an Interest Period there shall in respect of that part of the Facility equivalent to the amount of the Repayment Instalment falling due on such Repayment Date be a separate Interest PeriodPeriod expiring on such Repayment Date and the Interest Rate relating to such part shall be fixed separately;
(c) if any 6.02.05 no Interest Period would otherwise expire on a day that is not a Business Dayshall extend beyond the final Repayment Date;
6.02.06 if the Borrower fails to select an Interest Period in accordance with the above, such Interest Period shall expire on be of three (3) months duration or of such other duration as the next succeeding Business Day; provided that if any Interest Period Lender in respect of a LIBOR Loan 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 Dayits sole discretion may select; and
(d) 6.02.07 save as provided in Clause 6.
02.04 the Borrower shall not be entitled to elect select more than one Interest Periods at any Interest Period in respect of any LIBOR Loan if such Interest Period would extend beyond the Maturity Date of such Loanone time.
Appears in 2 contracts
Sources: Financial Agreement (EuroDry Ltd.), Financial Agreement (Euroseas Ltd.)
Interest Periods. At the time the Parent Borrower gives a the Notice of Borrowing or a Notice of Conversion or Continuation in respect of the making of, or conversion into or continuation as, a Borrowing of LIBOR Eurocurrency Loans in accordance with Section 2.6(a), the Parent Borrower shall give the Administrative Agent written notice of the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Parent Borrower be a one, two, three or six month period (or if available agreed to by all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditionsEurocurrency Loans, a twelve month or shorter periodperiod as selected by Parent Borrower). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Eurocurrency Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a Borrowing of LIBOR Eurocurrency Loans begins on the last Business Day of a calendar month or begins on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Eurocurrency Loan 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; and
(d) the Borrower Borrowers shall not be entitled to elect any Interest Period in respect of any LIBOR Eurocurrency Loan if such Interest Period would extend beyond the Maturity Date of such Loan.
Appears in 2 contracts
Sources: Senior Secured Second Out Term Loan Credit Agreement (Skillsoft Corp.), Senior Secured Second Out Term Loan Credit Agreement (Skillsoft Corp.)
Interest Periods. At the time the Borrower 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 Sections 2.3(a) and 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, which Interest Period shall, at the option of the Borrower be a one, two, three or six month period (or 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 or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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 next preceding Business Day; and
(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 Maturity Date of such Loan.
Appears in 2 contracts
Sources: Senior Unsecured Interim Loan Agreement (Energy Future Holdings Corp /TX/), Senior Unsecured Interim Loan Agreement (Energy Future Holdings Corp /TX/)
Interest Periods. At the time the Borrower Representative gives a Notice of Borrowing or Notice of Conversion or Continuation in accordance with Section 2.3(a) in respect of the making of, or Notice of Conversion or Continuation in accordance with Section 2.6(a) in respect of a rollover of, conversion into or continuation as, as the case may be, a Borrowing by way of Banker’s Acceptances and BA Equivalent Notes, LIBOR Loans in accordance with Section 2.6(a), or EURIBOR Loans the Borrower Representative shall give the Administrative Agent written notice of the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower Representative be a one, two, three or six month period (or if available to all the Lenders making such LIBOR Loans or EURIBOR Loans or issuing such Banker’s Acceptances and BA Equivalent Notes, as the case may be, as determined by such Lenders in good faith based on prevailing market conditions, a twelve month period or a period shorter periodthan one month). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing by way of Banker’s Acceptances and BA Equivalent Notes. LIBOR Loans or EURIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion from a Borrowing of ABR Loansconversion) and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period expires;
(b) if any Interest Period relating to a Borrowing of LIBOR Loans or EURIBOR Loans begins on the last Business Day of a calendar month or begins on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan or EURIBOR Loan 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; and
(d) the Borrower Borrowers shall not be entitled to elect any Interest Period in respect of any LIBOR Loan or EURIBOR Loan, or Borrowing by way of Banker’s Acceptances and BA Equivalent Notes if such Interest Period would extend beyond the Maturity Date of such Loan.
Appears in 2 contracts
Sources: Credit Agreement (Canada Goose Holdings Inc.), Credit Agreement (Canada Goose Holdings Inc.)
Interest Periods. At the time the When Borrower 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 requests any Eurodollar Rate Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which Interest Period shallshall be, at the option of the Borrower be a Borrower's option, one, two, three three, or six month period months (or other periods, if requested by Borrower and available to all from the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditionsLenders); PROVIDED, a twelve month or shorter period). Notwithstanding anything to the contrary contained above:
HOWEVER, that: (a) the initial Interest Period for any a Eurodollar Rate Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion from a Borrowing of ABR Loans) 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 relating to for 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 day 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 of in the calendar month at the end of such Interest Period;
); (c) if any no 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 may be chosen with respect to any Interest Period in respect of a LIBOR Loan would otherwise expire on a day that is not a Business Day but is a day portion of the month after Principal Debt which no further Business Day occurs in such month, such Interest Period shall expire on the immediately preceding Business Day; and
(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 Maturity Date scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of such Loanthe Principal Debt; and (d) no more than an aggregate of six (6) Interest Periods shall be in effect at one time.
Appears in 2 contracts
Sources: 364 Day Revolving Credit and Term Loan Agreement (Dobson Communications Corp), Revolving Credit Agreement (Dobson Communications Corp)
Interest Periods. At the time the When Borrower 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 requests any Eurodollar Rate Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which Interest Period shallshall be, at the option of the Borrower be a Borrower's option, one, two, three three, or six month period months (or other periods, if requested by Borrower and available to all from the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditionsLenders); PROVIDED, a twelve month or shorter period). Notwithstanding anything to the contrary contained above:
HOWEVER, that: (a) the initial Interest Period for any a Eurodollar Rate Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion from a Borrowing of ABR Loans) 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 relating to for 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 day 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 of in the calendar month at the end of such Interest Period;
); (c) if any no 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 may be chosen with respect to any Interest Period in respect of a LIBOR Loan would otherwise expire on a day that is not a Business Day but is a day portion of the month after Principal Debt which no further Business Day occurs in such month, such Interest Period shall expire on the immediately preceding Business Day; and
(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 Maturity Date scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of such Loanthe Principal Debt; and (d) no more than an aggregate of eight (8) Interest Periods shall be in effect at one time.
Appears in 2 contracts
Sources: Credit Agreement (Dobson Communications Corp), Credit Agreement (Dobson Sygnet Communications Co)
Interest Periods. At the time Holdings or the Borrower 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), ) Holdings or the Borrower shall give the Administrative Agent written notice of the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of Holdings or the Borrower be a one, two, three or six month period (or 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 or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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; and
(d) the no Borrower shall not be entitled to elect any Interest Period in respect of any LIBOR Loan if such Interest Period would extend beyond the Maturity Date of such Loan.
Appears in 2 contracts
Sources: Credit Agreement (PRA Health Sciences, Inc.), Credit Agreement (PRA Health Sciences, Inc.)
Interest Periods. At 6.1 Subject to Clause 6.2, the time Interest Periods shall be periods of a duration of three (3), six (6) or nine (9) months (or such other periods as the Borrower gives a Notice Banks and the Borrowers may agree) as selected by the Borrowers by written notice to be received by the Agent not later than 11.00 a.m. (London time) on the relevant Nomination Date.
6.2 Notwithstanding the provisions of Borrowing or Notice Clause 6.1:
6.2.1 Subject to the provisions of Conversion or Continuation Clause 6.2.5, the initial Interest Period in respect of the making of, or conversion into or continuation as, a Borrowing of LIBOR Loans in accordance with Section 2.6(a), Advance first to occur under each Tranche shall commence on the Borrower Drawdown Date thereof and shall give end on the Administrative Agent written notice of the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower be a one, two, three or six month period (or 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 or shorter period). Notwithstanding anything to the contrary contained above:
(a) expiry date thereof and the initial Interest Period for in respect of any Borrowing subsequent Advance in respect of LIBOR Loans the relevant Tranche shall commence on the date Drawdown Date thereof and shall end on the last day of such Borrowing (including the date of any conversion from a Borrowing of ABR Loans) and each then current Interest Period occurring thereafter in respect of the Advance or Advances previously drawn down in respect of that Tranche and upon expiration of the first Interest Period of the Advance last to occur in respect of a Tranche, all Advances in respect of such Borrowing Tranche shall be consolidated into and shall be treated in all respects as a single Advance and each subsequent Interest Period for such consolidated single Advance shall commence on the day on which expiry of the next preceding Interest Period expiresin respect thereof;
(b) 6.2.2 if any Interest Period relating would otherwise end on a day which is not a Business Day, that Interest Period shall be extended to the next succeeding day which is a Borrowing of LIBOR Loans begins Business Day unless such next succeeding Business Day falls in another calendar month in which event the Interest Period shall end upon the immediately preceding Business Day;
6.2.3 if any Interest Period commences on the last Business Day of in a calendar month or begins on a day for which if there is no numerically corresponding day in the calendar month at the end of such in which that Interest PeriodPeriod ends, such that Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Periodin that later month;
(c) if any 6.2.4 no Interest Period would otherwise expire on a day that is not a Business Dayshall extend beyond the Final Maturity Date; and
6.2.5 if the Borrowers fall to select an Interest Period in accordance with the above, such Interest Period shall expire on the next succeeding Business Day; provided that if any Interest Period in respect be of a LIBOR Loan 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; and
three (d3) 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 Maturity Date months duration or of such Loanother duration as the Agent may in its sole discretion select.
Appears in 2 contracts
Sources: Supplemental Agreement (Aegean Marine Petroleum Network Inc.), Supplemental Agreement (Aegean Marine Petroleum Network Inc.)
Interest Periods. At the time the Borrower 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, which Interest Period shall, at the option of the Borrower Borrower, be a one, two, three or six month period (or if available to approved by all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions, a twelve month longer or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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; and
(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 Maturity Date of such Loan.
Appears in 2 contracts
Sources: Second Lien Credit Agreement (Bountiful Co), First Lien Credit Agreement (Bountiful Co)
Interest Periods. At the time the Borrower Representative 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 Term SOFR Rate Loans in accordance with Section 2.6(a), the Borrower Representative shall give the Administrative Agent written notice of the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower be a one, two, three or six month period (or 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 or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Term SOFR Rate Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a Borrowing of LIBOR Term SOFR Rate Loans begins on the last Business Day of a calendar month or begins on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Term SOFR Rate Loan 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; and
(d) the Borrower Borrowers shall not be entitled to elect any Interest Period in respect of any LIBOR Term SOFR Rate Loan if such Interest Period would extend beyond the Maturity Date of such Loan.
Appears in 2 contracts
Sources: Revolving Credit Agreement (Bob's Discount Furniture, Inc.), Revolving Credit Agreement (Bob's Discount Furniture, Inc.)
Interest Periods. At the time the Borrower 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, which Interest Period shall, at the option of the Borrower be (i) a oneone-, two, three two-,three- or six month period six- or (or 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 twelve-month period or (ii) any period shorter period)than one month (if available to all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions) as requested by the Borrower. Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 that, if any Interest Period in respect of a LIBOR Loan would otherwise expire on a day that is not a Business Day 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 next preceding Business Day; and
(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 Maturity Date of such LoanDate.
Appears in 2 contracts
Sources: Credit Agreement (Vine Resources Inc.), Credit Agreement (Vine Resources Inc.)
Interest Periods. At the time the Borrower gives a Notice of Borrowing or Notice of Conversion or Borrowing/ Continuation in respect of the making of, or conversion into or continuation as, a Borrowing of LIBOR Eurodollar Loans (in accordance with Section 2.6(a)the case of the initial Interest Period applicable thereto) or prior to 12:00 p.m. (New York time) on the third Business Day prior to the expiration of an Interest Period applicable to a Borrowing of Eurodollar Loans, the Borrower shall give have the right to elect by giving the Administrative Agent written notice of (or telephonic notice promptly confirmed in writing) the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower Borrower, be (x) a one week period or (y) a one, two, three or six month period or, (or z) if available agreed to all by each applicable Lender and the Lenders making such LIBOR Loans Administrative Agent (in its capacity as determined by such Lenders in good faith based on prevailing market conditionssuch), a twelve month or shorter period). Notwithstanding anything to the contrary contained above:
(ai) the initial Interest Period for any Borrowing of LIBOR Eurodollar Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(bii) if any Interest Period relating to a Borrowing of LIBOR Eurodollar Loans begins on the last Business Day of a calendar month or begins on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(ciii) if any 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 in respect of a LIBOR Eurodollar Loan would otherwise expire on a day that is not a Business Day but is a day of that is after the month after which no further last Business Day occurs in such month, such Interest Period shall expire on the immediately next preceding Business Day; and
(div) the Borrower shall not be entitled to elect any Interest Period in respect of any LIBOR Eurodollar Loan if such Interest Period would extend beyond the applicable Maturity Date of such Loanthereof.
Appears in 2 contracts
Sources: Credit Agreement (WABASH NATIONAL Corp), Credit Agreement (WABASH NATIONAL Corp)
Interest Periods. At the time the Borrower 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, which Interest Period shall, at the option of the Borrower Borrower, be a one, two, three or six month period (or if available to approved by all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions, a twelve 12 month or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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; and
(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 Maturity Date of such Loan. Notwithstanding the foregoing, the initial Interest Period for each Borrowing of Delayed Draw Term Loans will end on the last day of the Interest Period in effect for the Initial Term Loans outstanding immediately prior to the applicable Delayed Draw Funding Date, and if the outstanding Initial Term Loans have more than one Interest Period in effect, the initial Interest Periods for such Borrowing of Delayed Draw Term Loans will end on the last day of such Interest Periods in effect (divided among such Interest Periods on a ratable basis) as determined by the Borrower.
Appears in 2 contracts
Sources: First Lien Credit Agreement (BrightSpring Health Services, Inc.), First Lien Credit Agreement (BrightSpring Health Services, Inc.)
Interest Periods. At the time the Borrower 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, which Interest Period shall, at the option of the Borrower be (i) a oneone-, twotwo-, three three- or six six-month period or (or ii) twelve months (if available to approved by all Lenders) as requested by the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions, a twelve month or shorter period)Borrower. Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 that, if any Interest Period in respect of a LIBOR Loan would otherwise expire on a day that is not a Business Day 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 next preceding Business Day; and
(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 Maturity Date of such LoanDate.
Appears in 2 contracts
Sources: Credit Agreement (Mach Natural Resources Lp), Credit Agreement (Mach Natural Resources Lp)
Interest Periods. At the time the Borrower 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, which Interest Period shall, at the option of the Borrower be a one, two, three or six six-month period or (or 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 ) any period shorter than one month or shorter period)requested by the Borrower. Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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 next preceding Business Day; and
(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 Maturity Date of such LoanInterim Loan Conversion Date.
Appears in 2 contracts
Sources: Second Lien Loan Agreement (SunOpta Inc.), Second Lien Loan Agreement (SunOpta Inc.)
Interest Periods. At In connection with each LIBOR Rate Loan, the time period commencing on the date of such LIBOR Rate Loan or the date of the Conversion of any LIBOR Rate Loan into such a LIBOR Rate Loan and ending on the last day of the period selected by the Borrower gives a Notice of Borrowing or Notice of Conversion or Continuation in respect pursuant to the provisions below (“Interest Period”) and, thereafter, each subsequent period commencing on the last day of the making of, immediately preceding Interest Period (or conversion into or continuation as, a Borrowing of LIBOR Loans such other day as may be selected by the Borrower in accordance with Section 2.6(a), the provisions hereof) and ending on the last day of the period selected by the Borrower shall give pursuant to the Administrative Agent written notice provisions below. The duration of the each such Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower shall be a 14 days or one, two, three or six month period (or if available to all months, in each case as the Lenders making such LIBOR Loans as determined Borrower may select by such Lenders in good faith based on prevailing market conditions, a twelve month or shorter period). Notwithstanding anything notice to the contrary contained aboveAdministrative Agent pursuant to Section 2.03(a)(i)(B); provided, however, that:
(ai) the initial Borrower may not select any Interest Period with respect to any Revolving Loan that ends after the Termination Date, and in no event shall an Interest Period of any Loan extend beyond the Termination Date;
(ii) whenever the last day of any Interest Period would otherwise occur on a day other than a Business Day, the last day of such Interest Period shall be extended to occur on the next succeeding Business Day; provided, that if such extension would cause the last day of such Interest Period to occur in the next following calendar month, the last day of such Interest Period shall occur on the next preceding Business Day; and
(iii) any Interest Period for any Borrowing of a LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion from a Borrowing of ABR Loans) and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on Rate Loan which the next preceding Interest Period expires;
(b) if any Interest Period relating to a 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 day in the appropriate subsequent calendar month at the end of such Interest Period, such Interest Period month) shall end on the last Business Day of the appropriate subsequent calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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; and
(div) the Borrower shall not no more than eight (8) Interest Periods may be entitled to elect in effect at any Interest Period in respect of any LIBOR Loan if such Interest Period would extend beyond the Maturity Date of such Loantime.
Appears in 2 contracts
Sources: Credit Agreement (South Jersey Gas Co/New), Revolving Credit Agreement (South Jersey Industries Inc)
Interest Periods. At the time the Borrower 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)prior to 10:00 a.m. (New York time) on the third Business Day prior to the applicable date of making or conversion or continuation of such LIBOR Loans, the Borrower shall give have the right to elect by giving the Administrative Agent written notice of (or telephonic notice promptly confirmed in writing) the Interest LIBOR Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower Borrower, be a one, two, three or six month period (or 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 or shorter period)months. Notwithstanding anything to the contrary contained above:
(a) the initial Interest LIBOR Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion from a Borrowing of ABR Loans) and each Interest LIBOR Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest LIBOR Period expires;
(b) if any Interest LIBOR Period relating to a 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 day in the calendar month at the end of such Interest LIBOR Period, such Interest LIBOR Period shall end on the last Business Day of the calendar month at the end of such Interest LIBOR Period;
(c) if any Interest LIBOR Period would otherwise expire on a day that is not a Business Day, such Interest LIBOR Period shall expire on the next succeeding Business Day; provided that if any Interest LIBOR Period in respect of a LIBOR Loan 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 LIBOR Period shall expire on the immediately next preceding Business Day; and
(d) the Borrower shall not be entitled to elect any Interest LIBOR Period in respect of any LIBOR Loan if such Interest LIBOR Period would extend beyond the applicable Revolving Credit Maturity Date of such LIBOR Loan.
Appears in 2 contracts
Sources: Revolving Credit Agreement (ITC Holdings Corp.), Revolving Credit Agreement (ITC Holdings Corp.)
Interest Periods. At the time the Borrower gives a Notice of Borrowing or a 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 case of the initial Interest Period applicable thereto) or prior to 1:00 p.m. (New York time) on the third Business Day (and in any event, on not more than five Business Days’ notice) prior to the expiration of an Interest Period applicable to a Borrowing of LIBOR Loans, the Borrower shall give have, by giving the Administrative Agent written notice of (or telephonic notice promptly confirmed in writing) the right to elect the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower Borrower, be a one, two, three or six month period (or 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 or shorter period). Notwithstanding anything period if, at the time of the relevant Borrowing, all Lenders participating therein agree to the contrary contained above:make an Interest Period of such duration available):
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion from a Borrowing of ABR Base Rate Loans) and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next immediately preceding Interest Period expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 provided, that if any Interest Period in respect of a LIBOR Loan 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; and
(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 applicable Maturity Date of such Loan.
Appears in 2 contracts
Sources: Second Lien Credit Agreement (RTI Surgical Holdings, Inc.), Second Lien Credit Agreement (RTI Surgical Holdings, Inc.)
Interest Periods. At the time the Borrower Company gives a Notice of Borrowing or a Notice of Conversion or Continuation in respect of the making of, or conversion into or continuation as, a Borrowing of LIBOR EURIBOR Loans or Term SOFR Loans (in accordance with Section 2.6(athe case of the initial Interest Period applicable thereto), the Borrower Company shall give have the right to elect by giving the Administrative Agent written notice of the Interest Period applicable to such BorrowingBorrowing (which notice can be in the relevant Notice of Borrowing or Notice of Conversion or Continuation), which Interest Period shall, at the option of the Borrower Company, be a one, twoperiod commencing on the date of Borrowing specified in the applicable Notice of Borrowing or on the date specified in the applicable Notice of Conversion or Continuation and ending one (1), three (3) or six month period (6) months (or such shorter period as the Borrowers may elect in the applicable notice) after the start of such Interest Period; provided that, the initial Interest Period may be for a period less than one (1) month if available to all agreed upon by the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions, a twelve month or shorter period)Company and the Administrative Agent. Notwithstanding anything to the contrary contained abovein this Section 2.9:
(a) the initial Interest Period for any Borrowing of LIBOR Term SOFR Loans or EURIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a Borrowing of LIBOR Term SOFR Loans or EURIBOR Loans begins on the last Business Day of a calendar month or begins on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Term SOFR Loan or EURIBOR Loan 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 next preceding Business Day; and;
(d) the Borrower Borrowers shall not be entitled to elect any Interest Period in respect of any LIBOR Term SOFR Loan or EURIBOR Loan if such Interest Period would extend beyond the applicable Maturity Date Date; and
(e) after giving effect to all the initial borrowings, all conversions of such LoanLoans from one Type to the other, and all continuations of Loans as the same Type, there shall not be more than 25 Interest Periods in effect with respect to Term SOFR or EURIBOR Loans.
Appears in 2 contracts
Sources: Revolving Credit Agreement (NXP Semiconductors N.V.), Revolving Credit Agreement (NXP Semiconductors N.V.)
Interest Periods. At the time the Borrower 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)Term SOFR Loans, the Borrower shall give the Administrative Agent written notice of the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower be a one, two, three or six month period (or or, if agreed to by the Administrative Agent and available to and agreed by all the Lenders making such LIBOR Term SOFR Loans as determined by such Lenders in good faith based on prevailing market conditions, a twelve month period or a period shorter periodthan one month). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Term SOFR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a Borrowing of LIBOR 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Term SOFR Loan 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; and
(d) the Borrower shall not be entitled to elect any Interest Period in respect of any LIBOR Term SOFR Loan if such Interest Period would extend beyond the Maturity Date of such Loan.
Appears in 2 contracts
Sources: Credit Agreement (Canada Goose Holdings Inc.), Credit Agreement (Canada Goose Holdings Inc.)
Interest Periods. At the time the Borrower 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 case of the initial Interest Period applicable thereto) or prior to 10:00 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 give have the right to elect by giving the Administrative Agent written notice of (or telephonic notice promptly confirmed in writing no later than 1:00 p.m. (New York City time)) the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower be a one, two, three or three, six month period (or if available to all the Lenders making such LIBOR Loans as determined by such the Lenders in good faith based on prevailing market conditions, a nine or twelve month or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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 next preceding Business Day; and
(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 Maturity Date applicable maturity date of such Loan.
Appears in 2 contracts
Sources: Term Loan Credit Agreement (McJunkin Red Man Holding Corp), Term Loan Credit Agreement (McJunkin Red Man Holding Corp)
Interest Periods. At the time the Borrower 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 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, which Interest Period shall, at the option of the Borrower Borrower, be a one, two, three or six months; provided that the Interest Period may be a period of less than one month that is agreed by the Borrower and the Administrative Agent, so long as for purposes of determining Term SOFR, Term SOFR in respect of such period (or if available to all the Lenders making such LIBOR Loans as determined by such Lenders in good faith shall be based on prevailing market conditionsTerm 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 twelve three- month or shorter period)tenor. Notwithstanding anything to the contrary contained above:
: (a) the initial Interest Period for any Borrowing of LIBOR SOFR Loans shall commence on the date of such Borrowing (including or the date of any conversion 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 expires;
; (b) if any Interest Period relating to a Borrowing of LIBOR SOFR Loans begins on the last Business Day of a calendar month or begins on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
; (c) if any 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 in respect of a LIBOR SOFR Loan 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 next preceding Business Day; and
(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 Maturity Date of such Loan.
Appears in 1 contract
Interest Periods. At the time the Borrower 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 The initial and each subsequent Interest Period applicable to such Borrowing, which Interest Period shall, at for the option of the Borrower Eurodollar Rate Loans shall be a period of one, two, three or six month months, or such other period (or if available as requested by the Borrower and acceptable to all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions, a twelve month or shorter period)Lenders. Notwithstanding anything The determination of Interest Periods shall be subject to the contrary contained abovefollowing provisions:
(aA) in the initial case of immediately successive Interest Periods, each successive Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(bB) if any Interest Period relating would otherwise end on a day which is not a Business Day, that Interest Period shall be extended to the next succeeding Business Day unless the result of such extension would be to carry such Interest Period into another calendar month, in which event such Interest Period shall end on the immediately preceding Business Day;
(C) the Borrower may select Interest Periods with respect to Term Loans which commence before and end after a Borrowing of LIBOR Principal Payment Date only to the extent that the Base Rate Loans to be outstanding on such Principal Payment Date plus the Eurodollar Rate Loans with Interest Periods ending on such Principal Payment Date at least equal in principal amount the required principal payment on such Principal Payment Date;
(D) no Interest Period shall extend beyond (1) the Revolving Expiry Date with respect to any Revolving Loan, and (2) the Final Maturity Date with respect to any Term Loan;
(E) any Interest Period that begins on the last Eurodollar Business Day of a calendar month (or begins on a day for which there is no numerically corresponding day in the ending calendar month at the end of such Interest Period, such Interest Period ) shall end on the last Eurodollar Business Day of the ending calendar month at the end of such Interest Period;
(cF) if there shall be no more than five Interest Periods in effect at any 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 in respect of a LIBOR Loan 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; and
(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 Maturity Date of such Loanone time.
Appears in 1 contract
Interest Periods. At the time the Borrower Representative 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)LIBORTerm Benchmark Loans, the Borrower Representative shall give the Administrative Agent written notice of the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower Representative be a one, two, three or six month period (or if available to all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditionsLIBORTerm Benchmark Loans, a twelve month period or a period shorter periodthan one month). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR LIBORTerm Benchmark Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a Borrowing of LIBOR LIBORTerm Benchmark Loans begins on the last Business Day of a calendar month or begins on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 provided, that if any Interest Period in respect of a LIBOR LIBORTerm Benchmark Loan 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; and
(d) the Borrower Representative shall not be entitled to elect any Interest Period in respect of any LIBOR LIBORTerm Benchmark Loan if such Interest Period would extend beyond the Maturity Date of such Loan.
Appears in 1 contract
Sources: Second Lien Credit Agreement (Aveanna Healthcare Holdings, Inc.)
Interest Periods. At the time the When Borrower 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 requests any Eurodollar Rate Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which Interest Period shallshall be, at the option of the Borrower be a Borrower's option, one, two, three three, or six month period months (or other periods, if available requested by Borrower and agreed to by all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditionsLenders); PROVIDED, a twelve month or shorter period). Notwithstanding anything to the contrary contained above:
HOWEVER, that: (a) the initial Interest Period for any a Eurodollar Rate Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion from a Borrowing of ABR Loans) 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 relating to for 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 day 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 of in the calendar month at the end of such Interest Period;
); (c) if any no 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 may be chosen with respect to any Interest Period in respect of a LIBOR Loan would otherwise expire on a day that is not a Business Day but is a day portion of the month after Principal Debt which no further Business Day occurs in such month, such Interest Period shall expire on the immediately preceding Business Day; and
(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 Maturity Date scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of such Loanthe Principal Debt; and (d) no more than an aggregate of five Interest Periods shall be in effect at one time.
Appears in 1 contract
Sources: Revolving Credit Agreement (Logix Communications Enterprises Inc)
Interest Periods. At the time the Borrower gives a Notice of Borrowing or Notice of Conversion or Continuation in respect of In connection with the making or ---------------- continuation of, or conversion into or continuation asinto, a Borrowing each Syndicate Revolving Loan comprised of LIBOR Loans in accordance with Section 2.6(a)Advances or BA Rate Advances, the Borrower shall give the Administrative Agent written notice of the select an interest period (each an "Interest Period Period") to be applicable to such BorrowingLIBOR Advances or BA Rate Advances, which Interest Period shallshall be (i) either a 1, at the option of the Borrower be a one2, two, three 3 or six 6 month period as to LIBOR Advances or (ii) either a 30, 60 or if available 90 day period as to all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions, a twelve month or shorter period). Notwithstanding anything to the contrary contained above:BA Rate Advances; provided that: -------- ----
(a) the The initial Interest Period for any Borrowing of LIBOR Loans Advances or BA Rate Advances shall commence on the date of such Borrowing (including the date of any conversion from a Borrowing consisting of ABR LoansAdvances of another Type) and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if If any Interest Period would otherwise expire on a day that which 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 a LIBOR Loan Advances or BA Rate Advances 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 next preceding Business Day; and;
(dc) the Borrower shall not be entitled to elect any Any Interest Period in respect of any LIBOR Loan if Advances or BA Rate Advances which begins on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period would shall, subject to part (iv) below, expire on the last Business Day of such calendar month;
(d) No Interest Period shall extend beyond any date upon which any principal payment is due with respect to the Maturity Date of such LoanRevolving Loans.
Appears in 1 contract
Sources: Revolving Credit and Line of Credit Agreement (Rotech Medical Corp)
Interest Periods. At the time the Administrative Borrower gives a Notice of Borrowing or a Notice of Conversion or Continuation in respect of the making of, or conversion into or continuation as, a Borrowing of LIBOR Eurodollar Loans (in accordance with Section 2.6(a)the case of the initial Interest Period applicable thereto) or prior to 1:00 p.m. (New York time) on the third (3rd) Business Day (and in any event, on not more than ten (10) Business Days’ notice) prior to the expiration of an Interest Period applicable to a Borrowing of Eurodollar Loans, the Administrative Borrower shall give have, by giving the Administrative Agent written notice of the right to elect the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower Administrative Borrower, be a one, two, three three, six or six twelve month period (or if available any other interest period if, at the time of the relevant Borrowing, all Lenders participating therein agree to all the Lenders making make an Interest Period of such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions, a twelve month or shorter period). Notwithstanding anything to the contrary contained above:duration available):
(a) the initial Interest Period for any Borrowing of LIBOR Eurodollar Loans shall commence on the date of such Borrowing (including the date of any conversion 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 immediately preceding Interest Period expires;
(b) if any Interest Period relating to a Borrowing of LIBOR Eurodollar Loans begins on the last Business Day of a calendar month or begins on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 provided, that if any Interest Period in respect of a LIBOR Eurodollar Loan 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; and
(d) the Administrative Borrower shall not be entitled to elect any Interest Period in respect of any LIBOR Eurodollar Loan if such Interest Period would extend beyond the applicable Maturity Date of such Loan.
Appears in 1 contract
Interest Periods. At the time the Lead Borrower 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 Lead Borrower shall give the Administrative Agent written notice of the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower Lead Borrower, be a oneone- , twotwo- , three three- or six six-month period (or if available to approved by all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions, a twelve month longer or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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; and
(d) the Borrower Borrowers shall not be entitled to elect any Interest Period in respect of any LIBOR Loan if such Interest Period would extend beyond the Maturity Date of such Loan.
Appears in 1 contract
Sources: Abl Credit Agreement (Bountiful Co)
Interest Periods. At the time the Borrower 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 In connection with each LIBOR Loans in accordance with Section 2.6(a)Rate Loan, the Borrower shall give the Administrative Agent written notice of the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower be a one, two, three or six month period (or 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 or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence commencing on the date of such Borrowing (including LIBOR Rate Loan or the date of the Conversion of any conversion from LIBOR Rate Loan into such a Borrowing LIBOR Rate Loan and ending on the last day of ABR Loansthe period selected by the Borrower pursuant to the provisions below (“Interest Period”) and, thereafter, each subsequent period commencing on the last day of the immediately preceding Interest Period (or such other day as may be selected by the Borrower in accordance with the provisions hereof) and ending on the last day of the period selected by the Borrower pursuant to the provisions below. The duration of each such Interest Period occurring thereafter shall be one (1), two (2), three (3) or six (6) months, in each case as the Borrower may select by notice to the Administrative Agent pursuant a Notice of Conversion/Continuation; provided, however, that:
(i) the Borrower may not select any Interest Period with respect to any Loan that ends after the Maturity Date, and in no event shall an Interest Period of any Loan extend beyond the Maturity Date;
(i) whenever the last day of any Interest Period would otherwise occur on a day other than a Business Day, the last day of such Borrowing Interest Period shall commence be extended to occur on the next succeeding Business Day; provided, that if such extension would cause the last day of such Interest Period to occur in the next following calendar month, the last day of such Interest Period shall occur on which the next preceding Interest Period expires;Business Day; and
(bii) if any Interest Period relating to for a Borrowing of LIBOR Loans Rate Loan which begins on the last Business Day of a calendar month (or begins on a day for which there is no numerically corresponding day in the appropriate subsequent calendar month at the end of such Interest Period, such Interest Period month) shall end on the last Business Day of the appropriate subsequent calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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; and
(diii) the Borrower shall not no more than eight (8) Interest Periods may be entitled to elect in effect at any Interest Period in respect of any LIBOR Loan if such Interest Period would extend beyond the Maturity Date of such Loantime.
Appears in 1 contract
Sources: Term Loan Credit Agreement (South Jersey Industries Inc)
Interest Periods. At the time the Borrower gives Borrowers give 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 SOFR Loans in accordance with Section 2.6(a), the Borrower Borrowers shall give the Administrative Agent written notice of the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower Borrowers, be a one, two, three or six month period; provided that the initial Interest Period for the Tranche B-5 Term Loans shall be the period (or if available to all commencing on the Lenders making such LIBOR Loans as determined by such Lenders in good faith based Amendment No. 8 Effective Date and ending on prevailing market conditionsJuly 19, a twelve month or shorter period)20231. Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR SOFR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires; the initial Interest Period for any Borrowing of EURIBOR Rate Loan shall commence on the date such Loan is disbursed or converted to or continued as a Eurocurrency Rate Loan and ending on the date one, two, three or six months thereafter, or to the extent available to each applicable Lender of such Eurocurrency Rate Loan, twelve months or a period shorter than one month, thereafter as selected by the Borrower in its Notice of Borrowing;
(b) if any Interest Period relating to a Borrowing of LIBOR SOFR Loans or EURIBOR Rate Loans begins on the last Business Day of a calendar month or begins on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR SOFR Loan or EURIBOR Rate Loan 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; and
(d) the Borrower Borrowers shall not be entitled to elect any Interest Period in respect of any LIBOR Loan SOFR Loans or EURIBOR Rate Loans if such Interest Period would extend beyond the Maturity Date of such Loan.
Appears in 1 contract
Interest Periods. At the time the Borrower gives Borrowers give 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 Borrowers shall give the Administrative Agent written notice of the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower Borrowers be a one, two, three or six month period or (or if available agreed to by all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions, Loans) a twelve month or shorter period), or in the case of the last Interest Period prior to the Maturity Date for LIBOR Loans denominated in Euros, such other period shorter than three months as shall end on such Maturity Date, or in the case of the last Interest Period prior to the date of prepayment in full of any Class of Loans as notified by the Borrowers to the Administrative Agent, such other period shorter than three months ending on such date of prepayment, as may be agreed by the Administrative Agent. Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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 next preceding Business Day; and
(d) the Borrower Borrowers shall not be entitled to elect any Interest Period in respect of any LIBOR Loan if such Interest Period would extend beyond the Maturity Date of such Loan.
Appears in 1 contract
Interest Periods. At the time the Borrower 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, which Interest Period shall, at the option of the Borrower be (i) a oneone-, twotwo-, three three- or six month period six- or (or 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 (12)-month period or (ii) any period shorter than one (1) month or shorter period)(if available to all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions) as requested by the Borrower. Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 that, if any Interest Period in respect of a LIBOR Loan would otherwise expire on a day that is not a Business Day 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 next preceding Business Day; and
(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 Maturity Date of such LoanDate.
Appears in 1 contract
Interest Periods. At the time the Borrower 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, which Interest Period shall, at the option of the Borrower be (i) a oneone-, twotwo-, three three- or six month period six- or (or 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 twelve-month period or (ii) any period shorter period)than one month (if approved by the Administrative Agent and if available to all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions) as requested by the Borrower. Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 that, if any Interest Period in respect of a LIBOR Loan would otherwise expire on a day that is not a Business Day 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 next preceding Business Day; and
(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 Maturity Date of such LoanDate.
Appears in 1 contract
Sources: Credit Agreement (Talos Energy Inc.)
Interest Periods. At Concurrently with the time the Borrower gives giving of a Notice of Borrowing or Notice of Conversion or Conversion/Continuation in respect of the making ofany Revolving Borrowing comprised of Base Rate Loans to be converted into, or conversion into or continuation LIBOR Loans to be continued as, a Borrowing of LIBOR Loans in accordance with Section 2.6(a)Loans, the Borrower shall give have the Administrative Agent written notice of right to elect, pursuant to such notice, the Interest Period to be applicable to such BorrowingLIBOR Loans; provided, which Interest Period shallhowever, at the option of the Borrower be a one, two, three or six month period (or 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 or shorter period). Notwithstanding anything to the contrary contained abovethat:
(ai) all LIBOR Loans comprising a single Borrowing shall at all times have the same Interest Period;
(ii) the initial Interest Period for any Borrowing of LIBOR Loans Loan shall commence on the date of the Borrowing of such Borrowing LIBOR Loan (including the date of any continuation of, or conversion from a Borrowing of ABR Loans) into, such LIBOR Loan), and each successive Interest Period occurring thereafter in respect of applicable to such Borrowing LIBOR Loan shall commence on the day on which the next preceding Interest Period applicable thereto expires;
(biii) LIBOR Loans may not be outstanding under more than eight (8) separate Interest Periods at any one time (for which purpose Interest Periods shall be deemed to be separate even if they are coterminous);
(iv) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any Interest Period otherwise would otherwise expire on a day that is not a Business Day, such Interest Period shall expire on the next succeeding Business Day unless such next succeeding Business Day falls in another calendar month, in which case such Interest Period shall expire on the next preceding Business Day;
(v) the Borrower may not select any Interest Period that expires after the Maturity Date; provided that and
(vi) if any Interest Period in respect of a LIBOR Loan would otherwise expire begins on a day that for which there is not a Business Day but is a no numerically corresponding day of in the calendar month after during which no further Business Day occurs in such monthInterest Period would otherwise expire, such Interest Period shall expire on the immediately preceding last Business Day; and
(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 Maturity Date Day of such Loancalendar month.
Appears in 1 contract
Sources: Credit Agreement (Markel Corp)
Interest Periods. At the time the Borrower 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, which Interest Period shall, at the option of the Borrower be a one, two, three three, six or six month period (or if available to all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions, ) a nine or twelve month or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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 next preceding Business Day; and
(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 applicable Maturity Date of such Loan.
Appears in 1 contract
Interest Periods. At the time the When Borrower 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 requests any Eurodollar Rate Borrowing, Borrower may elect the interest period (each an "INTEREST PERIOD") applicable thereto, which Interest Period shallshall be, at the option of the Borrower be a Borrower's option, one, two, three three, or six month period (months, or if available to all the Lenders making such LIBOR Loans as determined other periods requested by such Lenders in good faith based on prevailing market conditions, a twelve month or shorter period). Notwithstanding anything Borrower to the contrary contained above:
extent available from all Lenders; provided, however, that: (a) the initial Interest Period for any a Eurodollar Rate Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion from a Borrowing of ABR Loans) 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 relating to for 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 day 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 of in the calendar month at the end of such Interest Period;
); (c) if any no 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 may be chosen with respect to any Interest Period in respect of a LIBOR Loan would otherwise expire on a day that is not a Business Day but is a day portion of the month after Principal Debt which no further Business Day occurs in such month, such Interest Period shall expire on the immediately preceding Business Day; and
(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 Maturity Date of such Loan.scheduled repayment date (including any dates on which mandatory
Appears in 1 contract
Sources: Revolving Credit Agreement (Intermedia Communications Inc)
Interest Periods. At the time the Borrower 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)prior to 10:00 a.m. (New York time) on the third Business Day prior to the applicable date of making or conversion or continuation of such LIBOR Loans, the Borrower shall give have the right to elect by giving the Administrative Agent written notice of (or telephonic notice promptly confirmed in writing) the Interest LIBOR Period applicable to such Borrowing, which Interest LIBOR Period shall, at the option of the Borrower Borrower, be a one, two, three or six month period (or 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 or shorter period)months. Notwithstanding anything to the contrary contained above:
(a) the initial Interest LIBOR Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion from a Borrowing of ABR Loans) and each Interest LIBOR Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest LIBOR Period expires;
(b) if any Interest LIBOR Period relating to a 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 day in the calendar month at the end of such Interest LIBOR Period, such Interest LIBOR Period shall end on the last Business Day of the calendar month at the end of such Interest LIBOR Period;
(c) if any Interest LIBOR Period would otherwise expire on a day that is not a Business Day, such Interest LIBOR Period shall expire on the next succeeding Business Day; provided that if any Interest LIBOR Period in respect of a LIBOR Loan 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 LIBOR Period shall expire on the immediately next preceding Business Day; and
(d) the Borrower shall not be entitled to elect any Interest LIBOR Period in respect of any LIBOR Loan if such Interest LIBOR Period would extend beyond the Revolving Credit Maturity Date of such LoanDate.
Appears in 1 contract
Interest Periods. At the time the Borrower 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 Term SOFR 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, which Interest Period shall, at the option of the Borrower be a one, two, three or six month period (or 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 or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Term SOFR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a Borrowing of LIBOR 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 that, if any Interest Period in respect of a LIBOR Term SOFR Loan would otherwise expire on a day that is not a Business Day 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 next preceding Business Day; and
(d) the Borrower shall not be entitled to elect any Interest Period in respect of any LIBOR Term SOFR Loan if such Interest Period would extend beyond the Maturity Date of applicable to such Loan.
Appears in 1 contract
Interest Periods. At the time the Borrower gives a Notice of Borrowing or Notice of Conversion or Continuation in respect of In connection with the making or continuation of, or conversion into or continuation asinto, a Borrowing each Syndicate Revolving Loan comprised of LIBOR Loans in accordance with Section 2.6(a)Advances, the Borrower shall give the Administrative Agent written notice of the select an interest period (each an "Interest Period Period") to be applicable to such BorrowingLIBOR Advances, which Interest Period shallshall be either a 1, at the option of the Borrower be a one2, two, three 3 or six 6 month period (or 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 or shorter period). Notwithstanding anything to the contrary contained above; provided that:
(a) the The initial Interest Period for any Borrowing of LIBOR Loans Advances shall commence on the date of such Borrowing (including the date of any conversion from a Borrowing consisting of ABR LoansAdvances of another Type) and each Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if If any Interest Period would otherwise expire on a day that which 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 a LIBOR Loan Advances 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 next preceding Business Day; and;
(dc) the Borrower shall not be entitled to elect any Any Interest Period in respect of any LIBOR Loan if Advances which begins on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period would shall, subject to Section 4.4(d), below, expire on the last Business Day of such calendar month;
(d) No Interest Period shall extend beyond any date upon which any principal payment is due with respect to the Maturity Date of such LoanRevolving Loans.
Appears in 1 contract
Sources: Revolving Credit Agreement (Discount Auto Parts Inc)
Interest Periods. At the time the Borrower 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, which Interest Period shall, at the option of the Borrower be a one, two, three or six month period or (or if available to all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions) a 12-month period requested by the Borrower; provided that, notwithstanding the foregoing, the initial Interest Period beginning on the Closing Date may be for a twelve period less than one month or shorter period)if agreed upon by the Borrower, the Administrative Agent and each of the Lenders. Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 that, if any Interest Period in respect of a LIBOR Loan would otherwise expire on a day that is not a Business Day 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 next preceding Business Day; and
(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 Maturity Date of such LoanDate.
Appears in 1 contract
Interest Periods. At When Borrower requests any Eurodollar Borrowing, Borrower may elect the time the Borrower gives a Notice of Borrowing interest period (each an "INTEREST PERIOD") applicable thereto, which shall be, at Borrower's option, one (1) month or Notice of Conversion or Continuation in respect of the making oftwo (2), three (3), or conversion into or continuation assix (6) months, 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, which Interest Period shall, at the option of the Borrower be a one, two, three or six month period (or 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 or shorter period). Notwithstanding anything each case to the contrary contained above:
extent available from each Lender; provided, however, that: (a) the initial Interest Period for any a Eurodollar Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion from a Borrowing of ABR Loans) 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 relating to for a Eurodollar CREDIT AGREEMENT 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 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 such the Interest Period; whereupon, such Interest Period shall end on the last Business Day of in the calendar month at the end of such Interest Period;
); (c) if any no 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 may be chosen with respect to any Interest Period in respect of a LIBOR Loan would otherwise expire on a day that is not a Business Day but is a day portion of the month after Total Principal Debt which no further Business Day occurs in such month, such Interest Period shall expire on the immediately preceding Business Day; and
(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 Maturity Date scheduled repayment date (including any dates on which mandatory prepayments are required to be made) for such portion of such Loanthe 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
Interest Periods. At the time the a Borrower 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)Borrowing, the such Borrower shall give the Administrative Agent written notice of the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower such Borrower, be a period of one week or one, two, three or six month period (or or, if available to all the Lenders making participating in such LIBOR Loans Borrowing (as determined by such Lenders in good faith based on prevailing market conditions), a twelve months or such other period shorter than one month as may be approved by the Administrative Agent (such approval not to be unreasonably withheld, delayed or shorter periodconditioned). Notwithstanding anything , or in the case of the last Interest Period prior to the contrary contained above:Maturity Date applicable to such Borrowing, such other period shorter than three months as shall end on such Maturity Date, or in the case of the last Interest Period prior to the date of prepayment in full of any Class of Loans as notified by the applicable Borrower to the Administrative Agent, such other period shorter than three months ending on such date of prepayment, as may be agreed by the Administrative Agent.
(a) the initial Interest Period for any LIBOR Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion from a Borrowing of an ABR LoansBorrowing) and each Interest Period occurring thereafter in respect of a continuation of such Borrowing shall commence on the day on which the next preceding Interest Period expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan would otherwise expire on a day that is not a , unless such next succeeding Business Day but is a day of would fall in the month after which no further Business Day occurs in such next calendar month, in which case such Interest Period shall expire on the immediately next preceding Business Day; and;
(d) the a Borrower shall not be entitled to elect any Interest Period in respect of any LIBOR Loan if such Interest Period would extend beyond the Maturity Date of applicable to such Loan; and
(e) the initial Interest Period for any Borrowing of New Term Loans of any Series or any Extended/Modified Term Loans of any Extension/Modification Series may be as set forth in the applicable Joinder Agreement or Extension/Modification Amendment.
Appears in 1 contract
Sources: Credit Agreement
Interest Periods. At the time the Borrower 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)prior to 12:00 Noon (New York time) on the third Business Day prior to the applicable date of making or conversion or continuation of such LIBOR Loans, the Borrower shall give have the right to elect by giving the Administrative Agent written notice of (or telephonic notice promptly confirmed in writing) the Interest LIBOR Period applicable to such Borrowing, which Interest LIBOR Period shall, at the option of the Borrower Borrower, be a one, two, three or six month period (or 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 or shorter period)months. Notwithstanding anything to the contrary contained above:
(a) the initial Interest LIBOR Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion from a Borrowing of ABR Loans) and each Interest LIBOR Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest LIBOR Period expires;
(b) if any Interest LIBOR Period relating to a 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 day in the calendar month at the end of such Interest LIBOR Period, such Interest LIBOR Period shall end on the last Business Day of the calendar month at the end of such Interest LIBOR Period;
(c) if any Interest LIBOR Period would otherwise expire on a day that is not a Business Day, such Interest LIBOR Period shall expire on the next succeeding Business Day; provided that if any Interest LIBOR Period in respect of a LIBOR Loan 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 LIBOR Period shall expire on the immediately next preceding Business Day; and
(d) the Borrower shall not be entitled to elect any Interest LIBOR Period in respect of any LIBOR Loan if such Interest LIBOR Period would extend beyond the Revolving Credit Maturity Date of such LoanDate.
Appears in 1 contract
Interest Periods. At the time the Borrower 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)Term Benchmark Loans, the Borrower shall give the Administrative Agent written notice of the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower be a one, two, three or six month period (or or, if available to all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditionsTerm Benchmark Loans, a twelve (12) month period or a period shorter periodthan one (1) month). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Term Benchmark Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a Borrowing of LIBOR Term Benchmark Loans begins on the last Business Day of a calendar month or begins on a day for which there is no numerically 104 corresponding day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 provided, that if any Interest Period in respect of a LIBOR Term Benchmark Loan 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; and
(d) the Borrower shall not be entitled to elect any Interest Period in respect of any LIBOR Term Benchmark Loan if such Interest Period would extend beyond the Maturity Date of such Loan.
Appears in 1 contract
Sources: First Lien Credit Agreement (Aveanna Healthcare Holdings, Inc.)
Interest Periods. At As provided in Section 2.5(a), at the ---------------- time of each request for the Borrower gives a Notice of Borrowing advance or Notice of Conversion or Continuation in respect of the making continuation of, or conversion into or continuation asinto, a Borrowing of LIBOR Loans in accordance with Section 2.6(a)Eurodollar Loans, the Borrower shall give the Administrative Agent written notice of the select an Interest Period applicable to such Borrowing, which Interest Period shall, at Loans from among the option of the Borrower be a one, two, three or six month period (or 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 or shorter period). Notwithstanding anything options subject to the contrary contained abovelimitations in Section 2.5(a); provided, however, that:
(ai) the initial Borrower may not select an Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion from a Borrowing of ABR Revolving Loans or Agent Loans that extend beyond the applicable Maturity Date for Revolving Loans or Agent Loans) and each Interest Period occurring thereafter in respect of such Borrowing shall commence on , as the day on which the next preceding Interest Period expirescase may be;
(bii) if the Borrower may not select an Interest Period for a Borrowing of Term Loans that would end after an Amortization Date if, as a result, the aggregate principal amount of Term Loans scheduled to be outstanding with Interest Periods ending after such Amortization Date would exceed the principal amount of Term Loans permitted to be outstanding after such Amortization Date;
(iii) whenever the last day of any Interest Period relating would otherwise be a day that is not a Business Day, the last day of such Interest Period shall either be (i) extended to the next succeeding Business Day, or (ii) reduced to the immediately preceding Business Day if the next succeeding Business Day is in the next calendar month; and
(iv) for purposes of determining an Interest Period, a Borrowing of LIBOR Loans month means a period starting on one day in a calendar month and ending on the numerically corresponding day in the next calendar month; provided, however, that if there is no such numerically corresponding day in the month in which an Interest Period is to end or if an Interest Period begins on the last Business Day of a calendar month or begins on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Periodmonth, then such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any Interest Period would otherwise expire on a day that is not a Business Day, in which such Interest Period shall expire on the next succeeding Business Day; provided that if any Interest Period in respect of a LIBOR Loan 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; and
(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 Maturity Date of such Loanend.
Appears in 1 contract
Interest Periods. At the time the When any Borrower gives a Notice of requests any Eurodollar Borrowing or Notice of Conversion or Continuation in respect of a Fixed Rate Borrowing, such Borrower may elect the making of, or conversion into or continuation as, a Borrowing of LIBOR Loans in accordance with Section 2.6(aapplicable interest period (each an "Interest Period"), the Borrower shall give the Administrative Agent written notice of the Interest Period applicable to such Borrowing, which Interest Period shallmay be, at the option of the Borrower be a onesuch Borrower's option, twoone (1), two (2), three (3) or six month (6) months for Eurodollar Borrowings and any period of up to six (or if available to all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions6) months (for Fixed Rate Borrowings), a twelve month or shorter period). Notwithstanding anything subject to the contrary contained above:
following conditions: (a) the initial Interest Period for any a Eurodollar Borrowing of LIBOR Loans shall commence commences on the date of applicable Borrowing Date or conversion date, and each subsequent Interest Period applicable to such Borrowing (including the date of any conversion from a Borrowing of ABR Loans) and each Interest Period occurring thereafter in respect of such Borrowing shall commence commences on the day on which when the next preceding applicable Interest Period expires;
; (b) if any Interest Period relating to for a Eurodollar Borrowing of LIBOR Loans begins on the last Business Day of a calendar month or begins on a day for which there is exists no numerically corresponding day Business Day in the calendar month at the end of such Interest Period, such the Interest Period shall end on ("Ending Calendar Month"), then the last Business Day of the calendar month at the end of such Interest Period;
(c) if any Interest Period would otherwise expire on a day that is not a Business Day, such Interest Period shall expire ends on the next succeeding Business Day; provided that if any Day of the Ending Calendar Month, unless there is no succeeding Business Day in the Ending Calendar Month in which case the Interest Period in respect of a LIBOR Loan would otherwise expire ends on a day that is not a the next preceding Business Day but is a day of the month after which Ending Calendar Month; (c) no further Business Day occurs in such month, such Interest Period shall expire on may extend beyond the immediately preceding Business DayTermination Date; and
and (d) the Borrower shall there may not be entitled in effect at any one time more than twelve (12) Interest Periods (including, without limitation, Interest Periods for Competitive Borrowings). Notwithstanding the foregoing, subject to elect the foregoing conditions and the consent of Administrative Agent (such consent to be in Administrative Agent's reasonable discretion), any Interest Period Borrower may, in respect of any LIBOR Loan if such Interest Period would extend beyond the Maturity Date anticipation of such LoanBorrower's prepayment of Borrowings from equity or debt offerings or financings or asset sales, elect Interest Periods of seven (7) days, fourteen (14) days, or twenty-one (21) days.
Appears in 1 contract
Sources: Credit Agreement (Prologis Trust)
Interest Periods. At the time the Borrower gives Borrowers give 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 Borrowers shall give the Administrative Agent written notice of the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower Borrowers be a one, two, three or six month period (or 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 or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires; the initial Interest Period for any Borrowing of EURIBOR Rate Loan shall commence on the date such Loan is disbursed or converted to or continued as a Eurocurrency Rate Loan and ending on the date one, two, three or six months thereafter, or to the extent available to each applicable Lender of such Eurocurrency Rate Loan, twelve months or a period shorter than one month, thereafter as selected by the Borrower in its Notice of Borrowing;
(b) if any Interest Period relating to a Borrowing of LIBOR Loans or EURIBOR Rate Loans begins on the last Business Day of a calendar month or begins on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan or EURIBOR Rate 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; and
(d) the Borrower Borrowers shall not be entitled to elect any Interest Period in respect of any LIBOR Loan or EURIBOR Rate Loans if such Interest Period would extend beyond the Maturity Date of such Loan.
Appears in 1 contract
Sources: Credit Agreement (GoDaddy Inc.)
Interest Periods. At the time the Borrower 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 Term SOFR Loans in accordance with Section 2.6(a2.03 or 2.06(a), as applicable, the Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of the Interest Period applicable to such Borrowing, which Interest Period shall, shall (i) at the option of the Borrower Borrower, be a one, twoone (1), three (3) or six (6) month period (or or, if available to all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditionsapplicable Lenders, a twelve period shorter than one (1) month or shorter a twelve (12) month period)) or (ii) solely in respect of the initial Borrowing of 2024-1 Incremental Term B Loans made on the Amendment No. 3 Effective Date, such other period, as reasonably agreed between the Administrative Agent and the Borrower, to facilitate the alignment of interest payments with other Borrowings or the end of a fiscal or calendar period. Notwithstanding anything to the contrary contained above:
: (a) the initial Interest Period for any Borrowing of LIBOR Term SOFR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
; (b) if any Interest Period relating to a Borrowing of LIBOR 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
; (c) if any 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 provided, that, if any Interest Period in respect of a LIBOR Term SOFR Loan 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 next preceding Business Day; and
(d) the Borrower shall not be entitled to elect any Interest Period in respect of any LIBOR Term SOFR Loan if such Interest Period would extend beyond the applicable Maturity Date of such Loan; and (e) no tenor that has been removed from this Section 2.09 pursuant to Section 2.10(f) shall be available for specification in the applicable Notice of Borrowing or Notice of Conversion or Continuation.
Appears in 1 contract
Sources: Credit Agreement (Talen Energy Corp)
Interest Periods. At the time the Borrower gives a Notice of Borrowing or Notice of Conversion or Continuation In connection with each LIBOR Rate Loan (and except as otherwise provided in Section 2.12(b) with respect to European Swingline Loans), AHL, on behalf of the making ofBorrowers for Revolving Loans, or conversion into or continuation asby giving notice at the times required hereunder, a Borrowing of LIBOR Loans in accordance with Section 2.6(a)shall elect an interest period (each, the Borrower shall give the Administrative Agent written notice of the an "Interest Period Period") to be applicable to such BorrowingLoan, which Interest Period shall, at the option of the Borrower be a period of one, two, three three, or six month period (or 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 or shorter period). Notwithstanding anything to the contrary contained abovemonths; provided that:
(ai) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including advance of or conversion to LIBOR Rate Loan and, in the date case of any conversion from a Borrowing of ABR Loans) and immediately successive Interest Periods, each successive Interest Period occurring thereafter in respect of such Borrowing shall commence on the day date on which the next preceding Interest Period expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(cii) if any 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 provided, that, with respect to any LIBOR Rate Loan, if any Interest Period in respect of a LIBOR Loan 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 next preceding Business Day;
(iii) with respect to any LIBOR Rate Loan, 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 day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end of such Interest Period;
(iv) no Interest Period for Revolving Loans shall extend beyond the Revolving Facility Termination Date;
(v) at any time there shall be no more than eight Tranches of LIBOR Rate Loans (excluding European Swingline Loans made as LIBOR Rate Loans) under the Revolving Facility, no more than three of which Tranches may be Foreign Currency Loans (excluding European Swingline Loans made as LIBOR Rate Loans); for purposes of this provision, a "Tranch" of Loan shall refer to Loans with Interest Periods beginning and ending on the same date;
(vi) such right of election is subject to Section 3.1(f);
(vii) the interest period to be applicable to European Swingline Loans made as LIBOR Rate Loans shall be a period of one month; and
(dviii) at any time there shall be no more than five Tranches of European Swingline Loans made as LIBOR Rate Loans (including the Borrower Existing LIBOR Rate Loans); for purposes of this provision, a "Tranch" of Loan shall not be entitled refer to elect any European Swingline Loans with Interest Period in respect of any LIBOR Loan if such Interest Period would extend beyond Periods beginning and ending on the Maturity Date of such Loansame date.
Appears in 1 contract
Sources: Credit Agreement (Ahl Services Inc)
Interest Periods. (a) At the time the a Borrower gives a Notice of Borrowing or Notice of Conversion or Continuation in respect of the making of, or conversion into or continuation asinto, a Borrowing of LIBOR Eurodollar Loans (in accordance with Section 2.6(a)the case of the initial Interest Period applicable thereto) or prior to 10:00 A.M. (New York time) on the third Business Day prior to the expiration of an Interest Period applicable to a Borrowing of Eurodollar Loans of such Borrower, it shall have the Borrower shall give 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 Interest Period shall, at the option of the Borrower such Borrower, be a one, two, three or six month period (or 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 or shorter period). Notwithstanding anything to the contrary contained above:
(ai) the initial Interest Period for any Borrowing of LIBOR Eurodollar Loans shall commence on the date of such Borrowing (including the date of any conversion from a Borrowing of ABR 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 expires;
(bii) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the such calendar month at the end of such Interest Period;
month; -6- (ciii) if any Interest Period would otherwise expire on a day that which 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 a LIBOR Loan would otherwise expire on a day that 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 immediately next preceding Business Day; and
(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 Maturity Date of such Loan.;
Appears in 1 contract
Interest Periods. At the time a) Each Loan has successive Interest Periods. The first Interest Period of a Loan shall be specified by the Borrower gives in the respective Utilization Request, and every subsequent Interest Period shall be specified in an irrevocable Selection Notice that must have been received by the Facility Agent [Konsortialführer] no later than 11:00 a.m. three (3) Business Days before the Quotation Day for the relevant Interest Period. If a Selection Notice of Borrowing or Notice of Conversion or Continuation in respect of the making ofis not duly delivered, 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 then the Interest Period applicable to such Borrowing, which Interest Period shall, at for the option of the Borrower respective Loan shall be a one, two, three or six month period (or 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 or shorter period). Notwithstanding anything 3) months.
b) Subject to the contrary contained above:
(a) following provisions of this section, the initial Interest Period for any Borrowing Loan shall be three (3) or six (6) months, or any other period as agreed by the Borrower and all Lenders (acting through the Facility Agent).
c) Interest Periods may not expire after the Final Maturity Date.
d) Upon full Utilization of LIBOR the Facility or, as the case may be, no later than the last day of the Utilization Period, all then outstanding Loans shall commence on be consolidated in consultation with the date Facility Agent into a single Loan with one Interest Period.
e) The Facility Agent and the Borrower can reach additional agreements as necessary relating to the consolidation and/or division of such Borrowing Loans (including with respect to the date Interest Periods). The Lenders hereby consent to any accordingly shorter Interest Periods during the Utilization Period.
f) If the last day of any conversion from a Borrowing of ABR Loans) and each an Interest Period occurring thereafter in respect of such Borrowing shall commence on the day on which the next preceding Interest Period expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any Interest Period would otherwise expire on a day that is not a Business Day, such then the Interest Period shall expire end instead on the next succeeding following Business Day of the same month or, if there is no such Business Day in the respective month, then on the preceding Business Day; provided that , or if any an Interest Period in respect of a LIBOR Loan would otherwise expire ends after the Final Maturity Date, then on a day that the Final Maturity Date or, if the Final Maturity Date is not a Business Day but is a day of the month after which no further Business Day occurs in such monthDay, such Interest Period shall expire then on the immediately preceding Business Day; and
(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 Maturity Date of such Loan.
Appears in 1 contract
Interest Periods. At the time the Borrower 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 have the right to elect by giving the Administrative Agent written notice of (or telephonic notice promptly confirmed in writing) the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower be a one, two, three or three, six month period (or if available such other period of less than six months as to all which the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions, a twelve month or shorter periodAdministrative Agent may consent). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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 next preceding Business Day; and
(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 Final Maturity Date of such LoanDate.
Appears in 1 contract
Interest Periods. At the time the Borrower 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 Term SOFR Loans (in accordance with Section 2.6(a)the case of the initial Interest Period applicable thereto) or prior to 11:00 a.m. (Central time) on the third U.S. Government Securities Business Day prior to the expiration of an Interest Period applicable to a Borrowing of Term SOFR Loans, the Borrower shall give have the right to elect by giving the Administrative Agent written notice of the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower be a one, two, three or six month period (or 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 or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Term SOFR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a Borrowing of LIBOR 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 , unless, in respect the case of a LIBOR Loan would otherwise expire on a day that is not a Term SOFR Loan, such Business Day but is a day of the month after which no further Business Day occurs falls in such another calendar month, in which case such Interest Period shall expire on the immediately next preceding Business Day; and
(d) the Borrower shall not be entitled to elect any Interest Period in respect of any LIBOR Term SOFR Loan if such Interest Period would extend beyond the Maturity Date applicable maturity date of such Loan.
Appears in 1 contract
Interest Periods. At the time the Borrower 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 Term SOFR Loans in accordance with Section 2.6(a2.3(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, which Interest Period shall, at the option of the Borrower Borrower, be a one, two, three or six month period (or 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 or shorter period). Notwithstanding anything to the contrary contained above:
: (a) the initial Interest Period for any Borrowing of LIBOR Term SOFR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
; (b) if any Interest Period relating to a Borrowing of LIBOR 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
; (c) if any 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 in respect of a LIBOR Term SOFR Loan 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 next preceding Business Day; and
and (d) the Borrower shall not be entitled to elect any Interest Period in respect of any LIBOR Term SOFR Loan if such Interest Period would extend beyond the Maturity Date of such LoanDate.
Appears in 1 contract
Interest Periods. At the time the Parent Borrower 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 Term SOFR Loans in accordance with Section 2.6(a), the Parent Borrower shall give have the right to elect by giving the Administrative Agent written notice of (or telephonic notice promptly confirmed in writing) the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Parent Borrower be a one, two, three or six month period (or if available in each case, subject to all availability for the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions, a twelve month or shorter periodinterest rate pursuant to Section 2.10). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Term SOFR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a Borrowing of LIBOR 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Term SOFR Loan 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 next preceding Business Day; and
(d) the no Borrower shall not be entitled to elect any Interest Period in respect of any LIBOR Term SOFR Loan if such Interest Period would extend beyond the Final Maturity Date of such LoanDate.
Appears in 1 contract
Interest Periods. At the time the Borrower 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)Term Benchmark Loans, the Borrower shall give the Administrative Agent written notice of the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower be a one, two, three or six month period (or or, if available to all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditionsTerm Benchmark Loans, a twelve (12) month period or a period shorter periodthan one (1) month). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Term Benchmark Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a Borrowing of LIBOR Term Benchmark Loans begins on the last Business Day of a calendar month or begins on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 provided, that if any Interest Period in respect of a LIBOR Term Benchmark Loan 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; and
(d) the Borrower shall not be entitled to elect any Interest Period in respect of any LIBOR Term Benchmark Loan if such Interest Period would extend beyond the Maturity Date of such Loan.
Appears in 1 contract
Sources: First Lien Credit Agreement (Aveanna Healthcare Holdings, Inc.)
Interest Periods. At the time the Borrower 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, which Interest Period shall, at the option of the Borrower be a one, two, three or six month period or (or 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 or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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 next preceding Business Day; and
(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 Maturity Date of such Loan.
Appears in 1 contract
Interest Periods. At the time the Holdings or a Borrower 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 Holdings or such Borrower shall give the Administrative Agent written notice of the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Holdings or such Borrower be a one, two, three or six month period (or 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 or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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; and
(d) the no Borrower shall not be entitled to elect any Interest Period in respect of any LIBOR Loan if such Interest Period would extend beyond the Maturity Date of such Loan.
Appears in 1 contract
Interest Periods. At the time the Borrower 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, which Interest Period shall, at the option of the Borrower Borrower, be a one, two, three or six month period (or if available to approved by all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions, a twelve month or shorter periodperiod (but not one-week)). Notwithstanding anything to the contrary contained above:
: (ac) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
; (bd) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
; (ce) if any 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 in respect of a LIBOR Loan 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; and
(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 Maturity Date of such Loan.
Appears in 1 contract
Interest Periods. At the time the Borrower 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 Eurodollar Loans (in accordance with Section 2.6(a)the case of the initial Interest Period applicable thereto) or prior to 10:00 a.m. (New York time) on the third Business Day prior to the expiration of an Interest Period applicable to a Borrowing of Eurodollar Loans, the Borrower shall give have the right to elect by giving the Administrative Agent written notice of (or telephonic notice promptly confirmed in writing) the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower Borrower, be a one, two, three three, six or six month period (or if available to all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions, ) a nine or twelve month or shorter period), provided that the initial Interest Period may be for a period less than one month if agreed upon by the Borrower and the Agents. Notwithstanding anything to the contrary contained above:
(ai) the initial Interest Period for any Borrowing of LIBOR Eurodollar Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(bii) if any Interest Period relating to a Borrowing of LIBOR Eurodollar Loans begins on the last Business Day of a calendar month or begins on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(ciii) if any 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 in respect of a LIBOR Eurodollar Loan 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 next preceding Business Day; and
(div) the Borrower shall not be entitled to elect any Interest Period in respect of any LIBOR Eurodollar Loan if such Interest Period would extend beyond the applicable Maturity Date of such Loan.
Appears in 1 contract
Sources: Credit Agreement (Texas Genco Inc.)
Interest Periods. At the time the Borrower gives Borrowers give 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 Eurodollar Loans (in accordance with Section 2.6(a)the case of the initial Interest Period applicable thereto) or prior to 12:00 p.m. (New York time) on the third Business Day prior to the expiration of an Interest Period applicable to a Borrowing of Eurodollar Loans, the Borrower Borrowers shall give have the right to elect by giving the Administrative Agent written notice of (or telephonic notice promptly confirmed in writing) the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower Borrowers, be a one, two, three or six month period or, if agreed to by each Lender and the Administrative Agent (or if available to all the Lenders making such LIBOR Loans in its capacity as determined by such Lenders in good faith based on prevailing market conditionssuch), a seven or fourteen day period or a nine or twelve month or shorter period). Notwithstanding anything to the contrary contained above:
(ai) the initial Interest Period for any Borrowing of LIBOR Eurodollar Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(bii) if any Interest Period relating to a Borrowing of LIBOR Eurodollar Loans begins on the last Business Day of a calendar month or begins on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(ciii) if any 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 in respect of a LIBOR Eurodollar Loan would otherwise expire on a day that is not a Business Day but is a day of that is after the month after which no further last Business Day occurs in such month, such Interest Period shall expire on the immediately next preceding Business Day; and
(div) the Borrower Borrowers shall not be entitled to elect any Interest Period in respect of any LIBOR Eurodollar Loan if such Interest Period would extend beyond the Maturity Date of such LoanDate.
Appears in 1 contract
Interest Periods. At the time the a Borrower 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 such Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the such Borrower be a one, two, three three, six or six month period (or if available to all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions, ) a nine or twelve month or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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 next preceding Business Day; and
(d) the applicable Borrower shall not be entitled to elect any Interest Period in respect of any LIBOR Loan if such Interest Period would extend beyond the applicable Maturity Date of such Loan.
Appears in 1 contract
Interest Periods. At the time the Borrower 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 have the right to elect by giving the Administrative Agent written notice of (or telephonic notice promptly confirmed in writing) the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Borrower Borrower, be a one, two, three three, six or six month period (or if available to with the consent of all the Lenders making such LIBOR Loans as determined by such Lenders in good faith based on prevailing market conditions, Loans) a nine or twelve month period (or shorter periodsuch other period of less than six months as to which the Administrative Agent may consent). Notwithstanding anything to the contrary contained above, subject to Section 2.1:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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; and
(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 Maturity Date final maturity date of such Loan.
Appears in 1 contract
Sources: Credit Agreement (Univar Inc.)
Interest Periods. At In connection with each LIBOR Rate Loan, the time Borrower, by giving notice at the Borrower gives a Notice of Borrowing or Notice of Conversion or Continuation times described in respect of the making of, or conversion into or continuation as, a Borrowing of LIBOR Loans in accordance with Section 2.6(aSECTION 4.7(a), the Borrower shall give the Administrative Agent written notice of the Interest Period elect an interest period (each, an "INTEREST PERIOD") to be applicable to such BorrowingLoan, which Interest Period shall, at the option of the Borrower shall be a oneperiod of one (1), twotwo (2), three (3), or six month period (or 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 or shorter period). Notwithstanding anything to the contrary contained above6) months; PROVIDED that:
(ai) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including advance of or conversion to any LIBOR Rate Loan and, in the date case of any conversion from a Borrowing of ABR Loans) and immediately successive Interest Periods, each successive Interest Period occurring thereafter in respect of such Borrowing shall commence on the day date on which the next preceding Interest Period expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(cii) if any 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 PROVIDED, that if any Interest Period in with respect of to a LIBOR Rate Loan 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 next preceding Business Day;
(iii) any Interest Period with respect to a LIBOR Rate Loan that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the relevant calendar month at the end of such Interest Period;
(iv) no Interest Period shall extend beyond the Termination Date and Interest Periods shall be selected by the Borrower so as to permit the Borrower to make mandatory reductions of the Acquisition Commitment pursuant to SECTION 4.4(c), without payment of any amounts pursuant to SECTION 4.15; and
(dv) the Borrower there shall not be entitled to elect no more than ten (10) Interest Periods outstanding at any Interest Period in respect of any LIBOR Loan if such Interest Period would extend beyond the Maturity Date of such Loantime.
Appears in 1 contract
Interest Periods. At the time the Borrower 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 Term 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, which Interest Period shall, at the option of the Borrower be a one, two, three or six month period (or if available to all the Lenders making such LIBOR Term SOFR Loans as determined by such Lenders in good faith based on prevailing market conditions, a twelve month or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Term SOFR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a Borrowing of LIBOR 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Term SOFR Loan 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; and
(d) the Borrower shall not be entitled to elect any Interest Period in respect of any LIBOR Term SOFR Loan if such Interest Period would extend beyond the Maturity Date of such Loan.
Appears in 1 contract
Sources: Second Joinder and Restatement Agreement (National Vision Holdings, Inc.)
Interest Periods. At the time Holdings or the Borrower 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), Holdings or the Borrower shall give the Administrative Agent written notice of the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of Holdings or the Borrower be a one, two, three or six month period (or 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 or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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; and
(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 Maturity Date of such Loan.
Appears in 1 contract
Sources: Credit Agreement (RBC Bearings INC)
Interest Periods. At the time the Holdings or a Borrower 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 Holdings or such Borrower shall give the Administrative Agent written notice of the Interest Period applicable to such Borrowing, which Interest Period shall, at the option of the Holdings or such Borrower be a one, two, three or six month period (( or 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 or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a 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 day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR Loan 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; and
(d) the no Borrower shall not be entitled to elect any Interest Period in respect of any LIBOR Loan if such Interest Period would extend beyond the Maturity Date of such Loan.
Appears in 1 contract
Interest Periods. At the time the Borrower 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 LIBORSOFR 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, which Interest Period shall, at the option of the Borrower Borrower, be a one, two, three or six month period (or if available to approved by all the Lenders making such LIBOR LIBORSOFR Loans as determined by such Lenders in good faith based on prevailing market conditions, a twelve 12 month or shorter period). Notwithstanding anything to the contrary contained above:
(a) the initial Interest Period for any Borrowing of LIBOR LIBORSOFR Loans shall commence on the date of such Borrowing (including the date of any conversion 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 expires;
(b) if any Interest Period relating to a Borrowing of LIBOR LIBORSOFR Loans begins on the last Business Day of a calendar month or begins on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period;
(c) if any 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 in respect of a LIBOR LIBORSOFR Loan 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; and
(d) the Borrower shall not be entitled to elect any Interest Period in respect of any LIBOR LIBORSOFR Loan if such Interest Period would extend beyond the Maturity Date of such Loan.
Appears in 1 contract
Sources: Second Lien Credit Agreement (BrightSpring Health Services, Inc.)