Common use of LIBOR Loan Interest Periods Clause in Contracts

LIBOR Loan Interest Periods. (i) The initial and each subsequent Interest Period selected by the Borrower for the LIBOR Loans comprising all or part of a Borrowing shall be one, two, three or six months (or, if all Appropriate Lenders agree, nine or 12 months); provided, however, that (A) any Interest Period which would otherwise end on a day which is not a Business Day shall be extended to the next succeeding Business Day unless such next Business Day falls in another calendar month, in which case such Interest Period shall end on the immediately preceding Business Day; (B) any Interest Period which 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 a calendar month; and (C) no Interest Period for all or part of the Loans comprising a Revolving Loan Borrowing or a Term Loan Borrowing, as applicable, shall end after the Termination Date for the applicable Commitment. Notwithstanding the foregoing, the Borrower shall not select any LIBOR Loans until the syndication of the Facilities shall have been completed as separately agreed by and between the Lead Arranger and the Borrower.

Appears in 6 contracts

Samples: Security Agreement (Chiquita Brands International Inc), Security Agreement (Chiquita Brands International Inc), Security Agreement (Chiquita Brands International Inc)

AutoNDA by SimpleDocs

LIBOR Loan Interest Periods. (i) The initial and each subsequent Interest Period selected by the Borrower for the a LIBOR Loans comprising all or part of a Borrowing Loan shall be oneone (1), twotwo (2), three or (3), four (4), five (5), six months (or, if all Appropriate Lenders agree6), nine (9) or 12 months)twelve (12) months as Borrower may specify; provided, however, that (A) any Interest Period which would otherwise end on a day which is not a Business Day shall be extended to the next succeeding Business Day unless such next Business Day falls in another calendar month, in which case such Interest Period shall end on the immediately preceding Business Day; (B) any Interest Period which 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 a calendar month; and (C) no Interest Period for all or part any Borrowing shall end after a Commitment Reduction Date, if, as a result of the Loans comprising a Revolving Loan Borrowing or a Term Loan Borrowingselection of such Interest Period, the Outstanding Facilities Credit as applicable, of such Commitment Reduction Date shall exceed the Total Commitment as of such Commitment Reduction Date; and (D) no Interest Period shall end after the Termination Date for the applicable Commitment. Notwithstanding the foregoing, the Borrower shall not select any LIBOR Loans until the syndication of the Facilities shall have been completed as separately agreed by and between the Lead Arranger and the BorrowerMaturity Date.

Appears in 3 contracts

Samples: Security Agreement (Indus International Inc), Credit Agreement (Indus International Inc), Credit Agreement (Indus International Inc)

LIBOR Loan Interest Periods. (i) The initial and each subsequent Interest Period selected by the Borrower for the a Revolving Loan Borrowing consisting of LIBOR Loans comprising all or part of a Borrowing shall be oneone (1), twotwo (2), three (3), or six months (or, if all Appropriate Lenders agree, nine or 12 6) months); provided, however, that (A) any Interest Period which would otherwise end on a day which is not a Business Day shall be extended to the next succeeding Business Day unless such next Business Day falls in another calendar month, in which case such Interest Period shall end on the immediately preceding Business Day; (B) any Interest Period which 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 a calendar month; and (C) no Interest Period for all or part of the Loans comprising a Revolving Loan Borrowing or a Term Loan Borrowing, as applicable, shall end after the Termination Date Maturity Date; and (D) no LIBOR Loan shall be made or continued for an additional Interest Period after the applicable Commitment. Notwithstanding occurrence and during the foregoing, the Borrower shall not select any LIBOR Loans until the syndication continuance of the Facilities shall have been completed as separately agreed by and between the Lead Arranger and the Borroweran Event of Default.

Appears in 2 contracts

Samples: Credit Agreement (Genius Products Inc), Credit Agreement (Genius Products Inc)

LIBOR Loan Interest Periods. (i) The initial and each subsequent Interest Period selected by the Borrower Borrowers for the a Revolving Loan Borrowing consisting of LIBOR Loans comprising all or part of a Borrowing shall be oneone (1), twotwo (2), three (3), or six months (or, if all Appropriate Lenders agree, nine or 12 6) months); provided, however, that (A) any Interest Period which would otherwise end on a day which is not a Business Day shall be extended to the next succeeding Business Day unless such next Business Day falls in another calendar month, in which case such Interest Period shall end on the immediately preceding Business Day; (B) any Interest Period which 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 a calendar month; and (C) no Interest Period for all or part of the Loans comprising a Revolving Loan Borrowing or a Term Loan Borrowing, as applicable, shall end after the Termination Date Maturity Date; and (D) no LIBOR Loan shall be made or continued for an additional Interest Period after the applicable Commitment. Notwithstanding occurrence and during the foregoing, the Borrower shall not select any LIBOR Loans until the syndication continuance of the Facilities shall have been completed as separately agreed by and between the Lead Arranger and the Borroweran Event of Default.

Appears in 2 contracts

Samples: Credit Agreement (American Commercial Lines Inc.), Guaranty Agreement (American Commercial Lines Inc.)

LIBOR Loan Interest Periods. (i) The initial and each subsequent Interest Period selected by the Borrower Borrowers for the a Revolving Loan Borrowing consisting of LIBOR Loans comprising all or part of a Borrowing shall be oneone (1), twotwo (2), three (3) or six months (or, if all Appropriate Lenders agree, nine or 12 6) months); provided, however, that (A) any Interest Period which would otherwise end on a day which is not a Business Day shall be extended to the next succeeding Business Day unless such next Business Day falls in another calendar month, in which case such Interest Period shall end on the immediately preceding Business Day; (B) any Interest Period which 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 a calendar month; and (C) no Interest Period for all or part of the Loans comprising a Revolving Loan Borrowing or a Term Loan Borrowing, as applicable, shall end after the Termination Date Revolving Loan Maturity Date; and (D) no LIBOR Loan shall be continued for an additional Interest Period after the applicable Commitment. Notwithstanding occurrence and during the foregoing, the Borrower shall not select any LIBOR Loans until the syndication continuance of the Facilities shall have been completed as separately agreed by and between the Lead Arranger and the Borroweran Event of Default.

Appears in 2 contracts

Samples: Credit Agreement (Sands Regent), Credit Agreement (Sands Regent)

LIBOR Loan Interest Periods. (i) The initial and each subsequent Interest Period selected by the Borrower for the a Revolving Loan Borrowing consisting of LIBOR Loans comprising all or part of a Borrowing shall be oneone (1), twotwo (2), three (3) or six months (or, if all Appropriate Lenders agree, nine or 12 6) months); provided, however, that (A) any Interest Period which would otherwise end on a day which is not a Business Day shall be extended to the next succeeding Business Day unless such next Business Day falls in another calendar month, in which case such Interest Period shall end on the immediately preceding Business Day; (B) any Interest Period which 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 a calendar month; and (C) no Interest Period for all or part of the Loans comprising a Revolving Loan Borrowing or a Term Loan Borrowing, as applicable, shall end after the Termination Date Revolving Loan Maturity Date; and (D) no LIBOR Loan shall be continued for an additional Interest Period after the applicable Commitment. Notwithstanding occurrence and during the foregoing, the Borrower shall not select any LIBOR Loans until the syndication continuance of the Facilities shall have been completed as separately agreed by and between the Lead Arranger and the Borroweran Event of Default.

Appears in 1 contract

Samples: Credit Agreement (Varsity Brands Inc)

LIBOR Loan Interest Periods. (i) The initial and each subsequent Interest Period selected by the Borrower for the any Borrowing consisting of LIBOR Loans comprising all or part of a Borrowing shall be oneone (1), twotwo (2), three (3) or six months (or, if all Appropriate Lenders agree, nine or 12 6) months); provided, however, that (A) any Interest Period which would otherwise end on a day which is not a Business Day shall be extended to the next succeeding Business Day unless such next Business Day falls in another calendar month, in which case such Interest Period shall end on the immediately preceding Business Day; (B) any Interest Period which 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 a calendar month; and (C) no Interest Period for all or part of the Loans comprising a Revolving Loan Facility A Borrowing or a Term Loan Borrowing, as applicable, shall end after the Termination Date for Facility A Maturity Date; and (D) no Interest Period of a Facility B Borrowing shall end after the applicable Commitment. Notwithstanding the foregoing, the Borrower shall not select any LIBOR Loans until the syndication of the Facilities shall have been completed as separately agreed by and between the Lead Arranger and the BorrowerFacility B Maturity Date.

Appears in 1 contract

Samples: Credit Agreement (Flextronics International LTD)

AutoNDA by SimpleDocs

LIBOR Loan Interest Periods. (i) The initial and each subsequent Interest Period selected by the Borrower Borrowers for the a Revolving Loan Borrowing consisting of LIBOR Loans comprising all or part of a Borrowing shall be oneone (1), twotwo (2), three (3) or six months (or6) months; PROVIDED, if all Appropriate Lenders agree, nine or 12 months); provided, howeverHOWEVER, that (A) any Interest Period which would otherwise end on a day which is not a Business Day shall be extended to the next succeeding Business Day unless such next Business Day falls in another calendar month, in which case such Interest Period shall end on the immediately preceding Business Day; (B) any Interest Period which 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 a calendar month; and (C) no Interest Period for all or part of the Loans comprising a Revolving Loan Borrowing or a Term Loan Borrowing, as applicable, shall end after the Termination Revolving Loan Maturity Date and (D) no Interest Period for the applicable Commitment. Notwithstanding the foregoingany Revolving Loan may commence before and end after any Commitment Reduction Date unless, after giving effect to such Interest Period, the Borrower shall not select any LIBOR Loans until the syndication aggregate principal amount of the Facilities Revolving Loans having Interest Periods that end after such Commitment Reduction Date shall have been completed as separately agreed by and between be equal to or less than the Lead Arranger and aggregate principal amount of the BorrowerRevolving Loans permitted to be outstanding after giving effect to the payments of principal required to be made on such Commitment Reduction Date.

Appears in 1 contract

Samples: Credit Agreement (Argosy Gaming Co)

LIBOR Loan Interest Periods. (i) The initial and each subsequent Interest Period selected by the Borrower for the LIBOR Loans Loans, comprising all or part of a Borrowing shall be one, two, three or six months (or, if to the extent available to all Appropriate Lenders agreeLenders, nine or 12 twelve months); provided, however, that (A) any Interest Period which would otherwise end on a day which is not a Business Day shall be extended to the next succeeding Business Day unless such next Business Day falls in another calendar month, in which case such Interest Period shall end on the immediately preceding Business Day; (B) any Interest Period which 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 a calendar month; and (C) no Interest Period for all or part of the Loans comprising a Revolving Loan Borrowing, a Term B Borrowing or a Term Loan C Borrowing, as applicable, shall end after the Termination Date for the applicable CommitmentFacility pursuant to which such Borrowing was made. Notwithstanding the foregoing, the Borrower shall not select any LIBOR Loans until the syndication of the Facilities shall have been completed as separately agreed by and between among the Co-Lead Arranger Arrangers and the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Chiquita Brands International Inc)

LIBOR Loan Interest Periods. (i) The initial and each subsequent Interest Period selected by the a Borrower for the any Borrowing consisting of LIBOR Loans comprising all or part of a Borrowing shall be oneone (1), twotwo (2), three (3) or six months (or, if all Appropriate Lenders agree, nine or 12 6) months); provided, however, that (A) any Interest Period which would otherwise end on a day which is not a Business Day shall be extended to the next succeeding Business Day unless such next Business Day falls in another calendar month, in which case such Interest Period shall end on the immediately preceding Business Day; (B) any Interest Period which 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 a calendar month; and (C) no Interest Period for all or part of the Loans comprising a Revolving Loan Facility A Borrowing or a Term Loan Borrowing, as applicable, shall end after the Termination Date for Facility A Maturity Date; and (D) no Interest Period of a Facility B Borrowing shall end after the applicable Commitment. Notwithstanding the foregoing, the Borrower shall not select any LIBOR Loans until the syndication of the Facilities shall have been completed as separately agreed by and between the Lead Arranger and the BorrowerFacility B Maturity Date.

Appears in 1 contract

Samples: Credit Agreement (Flextronics International LTD)

LIBOR Loan Interest Periods. (i) The initial and each subsequent Interest Period selected by the Borrower for the a Borrowing consisting of LIBOR Loans comprising all or part of a Borrowing shall be one, twoone (1), three (3), or six months (or, if all Appropriate Lenders agree, nine or 12 6) months); provided, however, that (A) any Interest Period which would otherwise end on a day which is not a Business Day shall be extended to the next succeeding Business Day unless such next Business Day falls in another calendar month, in which case such Interest Period shall end on the immediately preceding Business Day; (B) any Interest Period which 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 a calendar month; and (C) no Interest Period for all or part of the Loans comprising a Revolving Loan Borrowing or a Term Loan Borrowing, as applicable, shall end after the Termination Date Maturity Date; and (D) no Borrowing consisting of LIBOR Loan shall be made or continued for an additional Interest Period after the applicable Commitment. Notwithstanding occurrence and during the foregoing, the Borrower shall not select any LIBOR Loans until the syndication continuance of the Facilities shall have been completed as separately agreed by and between the Lead Arranger and the Borroweran Event of Default.

Appears in 1 contract

Samples: Credit Agreement (Netflix Inc)

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