Applicable Interest Period definition
Applicable Interest Period for each Credit Facility has the meaning specified for that Credit Facility in the Credit Facility Schedule; provided, however, that, at any time that the Applicable Prime Rate is the Applicable Index Rate, Applicable Interest Period shall mean the period commencing as of the most recent Applicable Interest Rate Determination Date and continuing until the next Applicable Interest Rate Determination Date or such earlier date as the Applicable Prime Rate shall no longer be the Applicable Index Rate; and provided, further, that, at any time the Libor Rate Index is adjusted as set forth in the definition thereof, or re-implemented following invocation of the Applicable Prime Rate as permitted herein, the Applicable Interest Period shall mean the period commencing as of such adjustment or re-implementation and continuing until the next Applicable Interest Rate Determination Date, if any.
Applicable Interest Period means the one-month period starting on the first (1st) day of each month and ending on the last day of such month; provided, however, that the first (1st) Applicable Interest Period for each Credit Extension under this Credit Facility shall commence on the date that the applicable Credit Extension is made and end on the last day of such month.
Applicable Interest Period means, with respect to any Loan accruing interest at a LIBOR Rate, the period commencing on the first date the Borrower elects to have such LIBOR Rate apply to such Loan pursuant to Section 2.5(c) and ending one, two, three or six months thereafter as specified in the Interest Rate Notice given in respect of such Loan; provided, however, that Borrower may not select a six-month interest period for an Operating Loan and provided further, that no Applicable Interest Period may be selected for any LIBOR Loan if it extends beyond such Loan's Maturity Date.
Examples of Applicable Interest Period in a sentence
The Line of Credit Applicable Interest Period during which the LIBO Rate will be in effect will be three (3) months, so long as no Event of Default has occurred and is continuing.
Any Line of Credit Applicable Interest Period which would otherwise end on a non-Banking Day shall end on the next succeeding Banking Day unless that is the first day of a month, in which event such Line of Credit Applicable Interest Period shall end on the next preceding Banking Day.
Designation of a Line of Credit LIBO Rate Portion shall be made by delivery or telephone facsimile transmission to Bank of written notice signed by an Authorized Officer of such election, including designation of the amount of the proposed Line of Credit LIBO Rate Portion, the proposed Line of Credit Applicable Interest Period and the proposed effective date of the election.
At the end of any Line of Credit Applicable Interest Period, the interest rate will revert to the Regular Line of Credit Interest Rate, unless Borrower has designated another Optional Line of Credit Interest Rate for that Line of Credit LIBO Rate Portion.
Borrower shall not select a Line of Credit Applicable Interest Period that would extend beyond the Line of Credit Expiration Date.
More Definitions of Applicable Interest Period
Applicable Interest Period means, with respect to any Loan, the period commencing on the date such Loan was made pursuant to Section 2.2 or converted or continued pursuant to Section 2.5 and ending:
Applicable Interest Period means the period of time from the Petition Date to the date an Allowed Claim is paid in full, or such other period of time (if any) for which interest on an Allowed Claim, or portion thereof, would be due under the Bankruptcy Code (including sections 506(b) and 726(a)).
Applicable Interest Period means, with respect to any portion of the Loan that bears interest at a particular Applicable Interest Rate, the period commencing on the effective date of an Interest Rate Notice provided in respect of such portion of the Loan pursuant to Section 2.5(b) and ending:
Applicable Interest Period means a taxable year of the Borrower.
Applicable Interest Period means, (i) with respect to any Committed Loan accruing interest at a LIBOR Rate, the period commencing on the first day the Borrower elects to have such LIBOR Rate apply to such Loan and ending either (A) on a day not less than seven (7) or more than thirty (30) days thereafter; or (B) on a day one, two, three or six months thereafter, in either case as specified in the Interest Rate Notice given in respect to such Loan, and (ii) with respect to any Competitive Bid Loan accruing interest at a LIBOR Rate, the period commencing on the first day the Borrower elects to have such LIBOR Rate apply to such Loan and ending on a day one, two, three, four, five, six, seven, eight, nine, ten, eleven or twelve months thereafter provided, however:
Applicable Interest Period means the Interest Period selected by the Borrower pursuant to this Agreement.
Applicable Interest Period means with respect to any Loan or portion thereof accruing interest at an Offshore Related Rate or Long Term Rate, the period commencing on the first date Borrowers select to have such Offshore Related Rate or Long Term Rate applied to such Loan or portion thereof pursuant to Section 2.6(b) and ending on the date specified in the Interest Rate Notice given in respect of such Loan or portion thereof, provided that the Applicable Interest Period for Offshore Related Rate Loans based on LIBOR shall be in increments of one month, two months, three months, four months, five months or six months and for Offshore Related Rate Loans based on IBOR shall be in increments of one month, two months, three months, four months, five months and six months. The Applicable Interest Period for Long Term Rate Loans shall be one year or more. Applicable Interest Period means with respect to any Loan or portion thereof accruing interest at the Reference Related Rate, the period commencing on the date of this Agreement or the date Borrowers select to have such rate applied to such Loan or portion thereof and ending on the date Borrowers select to have another rate applied to such Loan or portion thereof. No Applicable Interest Period extending beyond Revolving Loan Maturity Date may be selected for a Revolving Loan.