Selection - Loans. (a) Each Loan has successive Terms. (b) The Company must select the first Term for a Loan in the relevant Request and each subsequent Term in an irrevocable Selection Notice received by the Facility Agent not later than 11.00 a.m. one Business Day before the Rate Fixing Day for that Term. Each Term for a Loan will start on its Utilisation Date or on the expiry of the preceding Term applicable to that Loan. (c) Subject to the following provisions of this Clause, each Term for a Loan will be one month or any other period agreed by the Company and the Facility Agent.
Appears in 1 contract
Sources: Bridge Facilities Agreement (Bayer Aktiengesellschaft)
Selection - Loans. (a) Each Loan has successive Terms.
(b) The Company must select the first Term for a Loan in the relevant Request and each subsequent Term in an irrevocable Selection Notice received by the Facility Agent not later than 11.00 a.m. one Business Day before the Rate Fixing Day for that Term. Each Term for a Loan will start on its Utilisation Date or on the expiry of the preceding Term applicable to that Loan.
(c) Subject to the following provisions of this Clause, each Term for a Loan will be one month or any other period agreed by the Company and the Facility Agent.
(d) The Term for an Initial Market Purchase Loan shall be one day or any other period agreed by the Company and the Facility Agent.
Appears in 1 contract
Sources: Bridge Facilities Agreement (Bayer Aktiengesellschaft)