Selection of Interest Periods The Borrowers may select in a written notice to the Agent the duration of an Interest Period for each Vessel Loan subject as follows:
Selection of Interest Periods The Borrowers may select in a written notice to the Lender the duration of an Interest Period for the Loan subject as follows:
Selection of Interest Periods The Borrowers may select in a written notice to the Lender the duration of an Interest Period for each Vessel Loan subject as follows: 9.1.1 each notice is irrevocable and must be delivered to the Lender by the Borrowers not later than 11.00 a.m. on the Quotation Day; 9.1.2 if the Borrowers fail to give a notice in accordance with Clause 9.1.1, the relevant Interest Period will, subject to Clauses 9.2 (Second and subsequent Vessel Loans) 9.3, (Interest Periods to meet Repayment Dates) and 9.4 (Non-Business Days), be three (3) months; 9.1.3 subject to this Clause 9, the Borrowers may select an Interest Period of three (3), or six (6) or twelve (12) months or any other period agreed between the Borrowers and the Lender; 9.1.4 an Interest Period shall not extend beyond the Termination Date; and 9.1.5 each Interest Period shall start on the Utilisation Date in respect of the first Vessel Loan or (if the first Vessel Loan is already made) on the last day of the preceding Interest Period and end on the date which numerically corresponds to the Utilisation Date in respect of the first Vessel Loan or the last day of the preceding Interest Period in the relevant calendar month except that, if there is no numerically corresponding date in that calendar month, the Interest Period shall end on the last Business Day in that month.
Selection of Interest Periods The Borrowers may select in a written notice to the Lender the duration of an Interest Period for each Vessel Loan subject as follows: 9.1.1 each notice is irrevocable and must be delivered to the Lender by the Borrowers not later than 11.00 a.m. on the Quotation Day; 9.1.2 if the Borrowers fail to give a notice in accordance with Clause 9.1.1, the relevant Interest Period will, subject to Clauses 9.2 (Second and subsequent Vessel Loans) 9.3, (Interest Periods to meet Repayment Dates) and 9.4 (Non-Business Days), be three (3) months; 9.1.3 subject to this Clause 9, the Borrowers may select an Interest Period of three (3), or six (6) or twelve (12) months or any other period agreed between the Borrowers and the Lender; 9.1.4 an Interest Period shall not extend beyond the Termination Date; and 9.1.5 each Interest Period shall start on the Utilisation Date in respect of the first Vessel Loan or (if the first Vessel Loan is already made) on the last day of the preceding Interest Period and end on the date which numerically corresponds to the Utilisation Date in respect of the first Vessel Loan or the last day of the preceding Interest Period in the relevant calendar month except that, if there is no numerically corresponding date in that calendar month, the Interest Period shall end on the last Business Day in that month.
