Fallback Period definition
Fallback Period means, in respect of the Borrower's selection of an Interest Period of 6 Months or longer, the shorter fallback Interest Period of 1, 2 or 3 Months as selected by the Borrower in a Drawdown Notice which is to apply if not all the Lenders consent to an Interest Period of 6 Months or longer.
Examples of Fallback Period in a sentence
The Agent shall inform the Borrower and the Lenders promptly after the designated time whether the Fallback Period is deemed to have been selected or not (as the case may be).