BSBY Interest Period

BSBY Interest Period. Shall mean, with respect to any amount to which the BSBY Rate Option applies, the period of one (1), two (2) or three (3) month(s) as selected by the Borrower, commencing on the date of disbursement of such amount (or the date of conversion of any amount to the BSBY Rate Option, as the case may be) and each successive period selected by the Borrower thereafter; provided that: (A)if a BSBY Interest Period would end on a day that is not a Business Day, it shall end on the next succeeding... Business Day unless such day falls in the next succeeding calendar month in which case the BSBY Interest Period shall end on the next preceding Business Day; (B)the Borrower may not select a BSBY Interest Period that would end on a day after the Expiration Date; and (C)any BSBY Interest Period that begins 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 BSBY Interest Period) shall end on the last Business Day of the last calendar month of such BSBY Interest Period. View More