INTEREST PERIOD shall definition

INTEREST PERIOD shall mean: (a) with respect to an initial request by any Borrower for a LIBOR Loan or the conversion of a Chase Bank Rate Loan to a LIBOR Loan, at the option the applicable Borrower a one-month, two-month, three-month or six-month period commencing on the borrowing or conversion date with respect to such LIBOR Loan and ending one, two or three months thereafter, as applicable; and (b) with respect to any continuation of a LIBOR Loan, at the option of the applicable Borrower a one-month, two-month or three-month period commencing on the last day of the immediately preceding Interest Period applicable to such LIBOR Loan and ending one, two or three months thereafter, as applicable; provided that the foregoing provisions relating to Interest Periods are subject to the following terms:
INTEREST PERIOD shall mean shall mean the period commencing on the Effective Date and ending on the numerically corresponding day each six (6) calendar months thereafter, except that each Interest Period which commences on the last Business Day of a calendar month (or on any day for which there is no numerically corresponding day in the appropriate subsequent calendar month) shall end on the last Business Day of the appropriate subsequent calendar month.
INTEREST PERIOD shall mean with respect to any Eurodollar Loan (i) initially, the period commencing on the date such Eurodollar Loan is made and ending one (1), two (2), three (3), six (6), nine (9) or twelve (12) months thereafter as selected by the Borrower pursuant to Section 4(a)(ii), and (ii) thereafter, each period commencing on the day following the last day of the next preceding Interest Period applicable to such Eurodollar Loan and ending one (1), two (2), three (3), six (6), nine (9) or twelve (12) months thereafter, as selected by the Borrower pursuant to Section 4(a)(ii); provided, however, that (i) if any Interest Period would otherwise expire on a day which is not a

Examples of INTEREST PERIOD shall in a sentence

  • Prior to the commencement of these chapter 11 cases, PwC CF launched a process to market the AIPL operations for potential sale to third parties.

  • If two or more of the selected REFERENCE BANKS provide the PRINCIPAL PAYING AGENT with such offered quotations, 1-M EURIBOR for such INTEREST PERIOD shall be the arithmetic mean of such offered quotations (rounded if necessary to the nearest one thousandth of a percentage point, with 0.000005 being rounded upwards).

  • In the event that the PRINCIPAL PAYING AGENT is on any EURIBOR DETERMINATION DATE required but unable to determine 1-M EURIBOR for the relevant INTEREST PERIOD in accordance with the above, 1-M EURIBOR for such INTEREST PERIOD shall be 1-M EURIBOR as determined on the previous EURIBOR DETERMINATION DATE.

  • After the Initial Interest Period, each interest accrual period thereafter (each, an "INTEREST PERIOD") shall commence on the eleventh (11th) day of each calendar month during the term of the Loan and shall end on and include the tenth (10th) day of the next occurring calendar month.

  • As used herein, the term "INTEREST PERIOD" shall mean the period commencing on each Rate Adjustment Date and ending on the last day prior to the next succeeding Rate Adjustment Date.

  • Any such election may be made with respect to a principal amount designated in such notice and equal to at least Five Hundred Thousand Dollars ($500,000.00) and integral multiples of One Hundred Thousand Dollars ($100,000.00) in excess of such minimum, for the period next ensuing, which period ("INTEREST PERIOD") shall equal one, two, three or six months as designated by Borrower in its notice.

  • The first INTEREST PERIOD shall begin on the date of funding under this Promissory Note and run through the day before the first day of the next INTEREST PERIOD.

  • In the event that during the seven (7) - day period prior to an INTEREST RATE SETTING DATE, the REFERENCE RATE cannot be determined for any reason or the difference between the REFERENCE RATE and the PHIBOR be equal or greater than 200 basis points, then the applicable interest rate for the INTEREST PERIOD shall be based on the ALTERNATIVE REFERENCE RATE plus the SPREAD.

  • INTEREST PERIOD shall mean with respect to LIBOR loans, the period of 1, 2, 3 or 6 months selected by the Borrower pursuant to the terms of the Senior Credit Facilities and subject to customary adjustments in duration.

  • For the purposes of this Note, an "INTEREST PERIOD" shall be (i) in the case of the first Interest Period, beginning on the date hereof and ending on the first day of the next calendar month, and (ii) in the case of all other Interest Periods, beginning on the last day of the immediately preceding Interest Period and ending on the first day of each calendar month thereafter; provided, however, that no Interest Period shall extend beyond the Maturity Date.


More Definitions of INTEREST PERIOD shall

INTEREST PERIOD shall mean with respect to any Eurodollar Loan:
INTEREST PERIOD shall mean: (i) initially - the period commencing on the date of the first Disbursement and ending on the first Interest Payment Date, and (ii) thereafter each period commencing on the preceding Interest Payment Date and ending on the next succeeding Interest Payment Date. INDEBTEDNESS - shall mean any and all indebtedness incurred by the Borrower or obligations of the Borrower in respect of (i) money borrowed or raised, (ii) any note, loan, bonds, debenture or similar instruments, including obligations incurred in connection with the acquisition of property, assets or business, (iii) deferred payments for assets or services acquired (but excluding trade accounts payable or accrued liabilities arising in the ordinary course of business), (iv) any reimbursement, guarantee, letter of credit, banker's acceptance or other instrument issued in support of Indebtedness or on account of the Borrower, (v) each and any obligation to pay rent or other payment amounts of the Borrower with respect to any sale and leaseback transaction to which the Borrower is a party, (vii) every obligation of the type referred to in sub-clauses (i)-(v) of another person or entity whatsoever, the payment of which is guaranteed by the Borrower or for which the Borrower is responsible, directly or indirectly, with respect thereof, as obligor, guarantor or otherwise.
INTEREST PERIOD shall mean with respect to any Eurodollar Loan (i) initially, the period commencing on the date such Eurodollar Loan is made and ending one (1), two (2), three (3), six (6), nine (9) or twelve (12) months thereafter as selected by the Borrower pursuant to Section 4(a)(ii), and (ii) thereafter, each period commencing on the day following the last day of the next preceding Interest Period applicable to such Eurodollar Loan and ending one (1), two (2), three (3), six (6), nine (9) or twelve (12) months thereafter, as selected by the Borrower pursuant to Section 4(a)(ii); provided, however, that (i) if any Interest Period would otherwise expire on a day which is not a Business Day, such Interest Period shall expire on the next succeeding Business Day unless the result of such extension would be to extend such Interest Period into the next calendar month, in which case such Interest Period shall end on the immediately preceding Business Day, (ii) if any Interest Period begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) such Interest Period shall end on the last Business Day of a calendar month, and (iii) any Interest Period which would otherwise expire after the Maturity Date shall end on such Maturity Date.

Related to INTEREST PERIOD shall

  • Interest Period Date means each Interest Payment Date unless otherwise specified in the relevant Final Terms.

  • Interest Period End Date means the date or dates specified as such in, or determined in accordance with the provisions of, the Final Terms and, if an Applicable Business Day Convention is specified in the Final Terms, as the same may be adjusted in accordance with the Applicable Business Day Convention or, if the Applicable Business Day Convention is the FRN Convention and an interval of a number of calendar months is specified in the Final Terms as the Interest Accrual Period, such dates as may occur in accordance with the FRN Convention at such specified period of calendar months following the Interest Commencement Date (in the case of the first Interest Period End Date) or the previous Interest Period End Date (in any other case) or, if none of the foregoing is specified in the Final Terms, means the date or each of the dates which correspond with the Interest Payment Date(s) in respect of the Instruments.

  • Interest Period means the period beginning on (and including) the Interest Commencement Date and ending on (but excluding) the first Interest Payment Date and each successive period beginning on (and including) an Interest Payment Date and ending on (but excluding) the next succeeding Interest Payment Date.

  • Fixed Rate Interest Period means the period beginning on (and including) the Issue Date and ending on (but excluding) the first Fixed Rate Interest Payment Date, and each successive period beginning on (and including) a Fixed Rate Interest Payment Date and ending on (but excluding) the next succeeding Fixed Rate Interest Payment Date.

  • rest period is a paid interval which is included in the workday and is intended to give the employee an opportunity to have refreshments or a rest.

  • Fixed Interest Period means the period from (and including) an Interest Payment Date (or the Interest Commencement Date) to (but excluding) the next (or first) Interest Payment Date; and

  • Eurocurrency Interest Period means with respect to any Eurocurrency Rate Borrowing, the period commencing on the date of such Borrowing and ending on the numerically corresponding day in the calendar month that is one, two, three or six months (or, to the extent agreed to by the Agent and each Lender making such Eurocurrency Rate Borrowing, twelve months or any shorter period) thereafter, as a Borrower may elect; provided that (a) if any Eurocurrency Interest Period would end on a day other than a Business Day, such Eurocurrency Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Eurocurrency Interest Period shall end on the next preceding Business Day, (b) any Eurocurrency Interest Period that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Eurocurrency Interest Period) shall end on the last Business Day of the last calendar month of such Eurocurrency Interest Period and (c) no Eurocurrency Interest Period for any (i) Eurocurrency Rate Revolving Loan shall end after the latest Scheduled Termination Date for the applicable Revolving Commitments under the applicable Revolving Facility or (ii) Eurocurrency Rate Term Loans shall end after the stated maturity date of such Term Loans.

  • Eurodollar Interest Period or "Interest Period" shall mean, with respect to a Eurodollar Loan, a period of one, two, three or six months commencing on a Business Day selected by the Borrowers pursuant to this Agreement. Such Eurodollar Interest Period shall end on the day which corresponds numerically to such date one, two, three or six months thereafter, provided, however, that if there is no such numerically corresponding day in such next, second, third or sixth succeeding month, such Eurodollar Interest Period shall end on the last Business Day of such next, second, third or sixth succeeding month. If a Eurodollar Interest Period would otherwise end on a day which is not a Business Day, such Eurodollar Interest Period shall end on the next succeeding Business Day, provided, however, that if said next succeeding Business Day falls in a new calendar month, such Eurodollar Interest Period shall end on the immediately preceding Business Day.

  • Reset Interest Period means each period from (and including) any Reset Date and ending on (but excluding) the next Reset Date.

  • LIBOR Interest Period means with respect to a LIBOR Advance, a period of one, two, three or six months commencing on a Business Day selected by the Borrower pursuant to this Agreement. Such LIBOR Interest Period shall end on (but exclude) the day which corresponds numerically to such date one, two, three or six months thereafter, provided, however, that if there is no such numerically corresponding day in such next, second, third or sixth succeeding month, such LIBOR Interest Period shall end on the last Business Day of such next, second, third or sixth succeeding month. If a LIBOR Interest Period would otherwise end on a day which is not a Business Day, such LIBOR Interest Period shall end on the next succeeding Business Day, provided, however, that if said next succeeding Business Day falls in a new calendar month, such LIBOR Interest Period shall end on the immediately preceding Business Day. In no event shall a LIBOR Interest Period extend beyond the then current Facility Termination Date.

  • Floating Rate Interest Period means, during the Floating Rate Period, the period beginning on (and including) a Floating Rate Period Interest Payment Date and ending on (but excluding) the next succeeding Floating Rate Period Interest Payment Date; provided that the first Floating Rate Interest Period will begin on (and include) April 18, 2025 and will end on (but exclude) the first Floating Rate Period Interest Payment Date.

  • Eurodollar Period means, as to each Eurodollar Rate Advance comprising part of the same Borrowing, the period commencing on the date specified by Borrower pursuant to Section 2.1(b) and ending 1, 2, 3 or 6 months (or, if available to all Lenders, 9 or 12 months) thereafter, as specified by Borrower in the applicable Request for Borrowing or Request for Continuation/Conversion provided that:

  • 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.

  • Subsequent Interest Period has the meaning specified in Section 307.

  • Interest Periods Individually, and collectively, with respect to a Libor Loan, the one, two, three or six month interest periods selected by the Borrower pursuant to the terms of this Agreement to be applicable to specific Libor Loans from time to time or any such other periods of such other durations as the Borrower and all Lenders may agree shall be applicable to specific Libor Loans from time to time; provided, however, that (i) no Interest Period may be selected for a Revolving Loan that would end after the Revolving Credit Maturity Date; (ii) no Interest Period may be selected for a Term Loan that would end after the Term Loan Maturity Date; (iii) if any Interest Period begins on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of such calendar month; (iv) if any Interest Period would otherwise expire on a day that is not a Business Day, such Interest Period shall expire on the next succeeding Business Day; and (v) if any Interest Period would otherwise expire on a day that is not a Business Day but is a day of the month after which no further Business Day occurs in such month, such Interest Period shall expire on the next preceding Business Day.

  • Impacted Interest Period has the meaning assigned to such term in the definition of “LIBO Rate”.

  • Default Interest Period means for any overdue amount of the Withdrawn Loan Balance, each Interest Period during which such overdue amount remains unpaid; provided, however, that the first such Default Interest Period shall commence on the 31st day following the date on which such amount becomes overdue, and the final such Default Interest Period shall end on the date at which such amount is fully paid.”

  • LIBOR Rate Advance means an Advance which bears interest at a LIBOR Rate.

  • LIBOR Rate Loan means each portion of an Advance that bears interest at a rate determined by reference to the LIBOR Rate.

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

  • Eurodollar Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the applicable Eurodollar Rate.

  • Eurodollar Rate Advance means an Advance that bears interest as provided in Section 2.07(a)(ii).

  • Eurocurrency Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the applicable Eurocurrency Rate.

  • LIBOR Tranche means the collective reference to LIBOR Rate Loans whose Interest Periods begin and end on the same day.

  • LIBO Rate Advance means a Pro Rata Advance that bears interest as provided in Section 2.04(a)(ii).

  • Initial Interest Period means the first Interest Period, which shall begin on (and include) the Issue Date and end on (but exclude) the First Payment Date.