Common use of LIBOR Interest Period Clause in Contracts

LIBOR Interest Period. As to LIBOR Rate Loans, a period of fourteen days, one month, two months, three months or six months, as selected by Borrower pursuant to the terms of this Agreement (including continuations and conversions thereof); provided however, (i) if any LIBOR Interest Period would end on a day which is not a Business Day, such LIBOR Interest Period shall be extended to the next succeeding Business Day (except that where the next succeeding Business Day falls in the next succeeding calendar month, then on the next preceding Business Day), (ii) no LIBOR Interest Period shall extend beyond the Revolving Credit Maturity Date, and (iii) any LIBOR 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 LIBOR Interest Period) shall end on the last Business Day of the relevant calendar month at the end of such LIBOR Interest Period.

Appears in 2 contracts

Samples: Loan Agreement (South Jersey Industries Inc), Loan Agreement (South Jersey Gas Co/New)

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LIBOR Interest Period. As to LIBOR Rate Loans, a period of fourteen days, one month, two months, three months or six three months, as selected by Borrower pursuant to the terms of this Agreement (including continuations and conversions thereof); provided however, (i) if any LIBOR Interest Period would end on a day which is not a Business Day, such LIBOR Interest Period shall be extended to the next succeeding Business Day (except that where the next succeeding Business Day falls in the next succeeding calendar month, then on the next preceding Business Day), (ii) no LIBOR Interest Period shall extend beyond the Revolving Credit Term Loan Maturity Date, and (iii) any LIBOR 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 LIBOR Interest Period) shall end on the last Business Day of the relevant calendar month at the end of such LIBOR Interest Period.

Appears in 1 contract

Samples: Loan and Security Agreement (COHEN & Co INC.)

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LIBOR Interest Period. As to LIBOR Rate LoansThe period commencing on the date hereof (the “Start Date”) and ending on the numerically corresponding date one (1) month later, a and thereafter each one (1) month period ending on the day of fourteen days, one month, two months, three months or six months, as selected by Borrower pursuant such month that numerically corresponds to the terms of this Agreement (including continuations and conversions thereof)Start Date up to the Revolver Maturity Date; provided provided, however, (i) if any LIBOR Interest Period that would otherwise end on a day which is not a Business Day, such LIBOR Interest Period Day shall be extended to the next succeeding Business Day (except that where Day, unless such extension would carry such LIBOR Interest Period into the next succeeding Business Day falls in the next succeeding calendar month, then on the next preceding Business Day), (ii) no in which event such LIBOR Interest Period shall extend beyond end on the Revolving Credit Maturity Date, and preceding Business Day; (iiiii) any LIBOR Interest Period with respect to a LIBOR Rate Loan that begins on the last Business Day of a calendar month (or on a day date for which there is no numerically corresponding day in the calendar month at the end of in which such LIBOR Interest PeriodPeriod ends) shall end on the last Business Day of the relevant a calendar month at the end of such month; and (iii) any LIBOR Interest PeriodPeriod that would otherwise extend beyond the Revolver Maturity Date shall end on the Revolver Maturity Date.

Appears in 1 contract

Samples: Loan Agreement (Techprecision Corp)

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