Common use of Shortened Interest Period Clause in Contracts

Shortened Interest Period. If no Screen Rate is available for LIBOR or EURIBOR for the required currency or Interest Period of that Loan and it is not possible to calculate the Interpolated Screen Rate, the Interest Period of that Loan shall (if it is longer than the applicable Fallback Interest Period) be shortened to the applicable Fallback Interest Period and the applicable LIBOR or applicable EURIBOR for that shortened Interest Period shall be determined pursuant to the definition of “LIBOR” or “EURIBOR” (as applicable).