Interest Period Definition Example with 5 Variations

This page contains an example definition of Interest Period, followed by definitions with minor variations. You can view the differences between the example and variations by selecting the "Show Differences" option.
Interest Period. Shall mean, as to any LIBOR Rate Loan, the period commencing on the Draw Date, the Conversion Date or Continuation Date for such LIBOR Rate Loan and ending on the date that shall be: (i) If the Interest Period duration selected for such LIBOR Rate Loan is "one day": the following day; provided, however, that if an Interest Period would end on a day that is not a Business Day, such Interest Period shall be extended to the ... next succeeding Business Day. (ii) If the Interest Period duration selected for such LIBOR Rate Loan is other than "one day": the numerically corresponding day (or, if there is no numerically corresponding day, on the last day) of the calendar month that is one (1), two (2), three (3), or six (6) months thereafter, in each case as Borrower may elect; provided, however, that if an Interest Period would end on a day that is not a Business Day, such 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 Interest Period shall end on the immediately preceding Business Day. View More Arrow
Found in PEOPLES EDUCATIONAL HOLDINGS contract

Variations

Interest Period. Shall shall mean, as with respect to any LIBOR Rate Loan, the period commencing on the Draw Date, the Conversion Date or Continuation Date for such LIBOR Rate Loan and ending on the date that shall be: (i) If the Interest Period duration selected for such LIBOR Rate Loan is "one day": the following day; provided, however, that if an Interest Period would end on a day that is not a Business Day, such Interest Period shall be extended to the next succeeding Business Day. (ii) If the Interest... Period duration selected for such LIBOR Rate Loan is other than "one day": the numerically corresponding day (or, if there is no numerically corresponding day, on the last day) of the calendar month that is one (1), two (2), three (3), (3) or six (6) months thereafter, after the commencement of such period, in each case as Borrower may elect; accordance with Borrower's election made pursuant to the terms of this Note; provided, however, that if an Interest Period would end on a day that is not a Joint Business Day, such Interest Period shall be extended to the next succeeding Joint Business Day Day, unless such next succeeding Joint Business Day would fall in the next calendar month, in which case such Interest Period shall end on the immediately preceding Joint Business Day. To the extent that the preceding clause results in either the extension or shortening of an Interest Period for a particular Loan, the Bank shall have the right (but not the obligation) to shorten or extend, respectively, the succeeding Interest Period so that it shall end on a day that numerically corresponds to the Draw Date for such Loan. View More Arrow
Found in GTJ REIT, INC. contract
Interest Period. Shall shall mean, as to any the LIBOR Rate Loan, Rate, the period commencing on the Draw Date, the Conversion Date date of this Note or Continuation Date for such LIBOR Rate Loan (as the case may be) and ending on the date that shall be: (i) If the Interest Period duration selected for such LIBOR Rate Loan below is "one day": the following day; provided, however, that if an Interest Period would end on a day that is not a Business Day, such Interest Period shall be extended to the next... succeeding Business Day. (ii) If the Interest Period duration selected for such LIBOR Rate Loan below is other than "one day": the numerically corresponding day (or, if there is no numerically corresponding day, on the last day) of the calendar month that is one (1), two (2), three (3), (3) or six (6) months thereafter, in each case as Borrower may elect; thereafter (as selected below); provided, however, that if an Interest Period would end on a day that is not a Business Day, such 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 Interest Period shall end on the immediately preceding Business Day. View More Arrow
Found in PEOPLES EDUCATIONAL HOLDINGS contract
Interest Period. Shall shall mean, as with respect to any LIBOR Rate Loan, the period commencing on the Draw Date, the Conversion Date or Continuation Date for such LIBOR Rate Loan and ending on the date that shall be: (i) If the Interest Period duration selected for such LIBOR Rate Loan is "one day": the following day; provided, however, that if an Interest Period would end on a day that is not neither a London Business Day nor a New York Business Day, such Interest Period shall be extended to the next... succeeding day that is either a London Business Day or a New York Business Day. (ii) If the Interest Period duration selected for such LIBOR Rate Loan is other than "one day": the numerically corresponding day (or, if there is no numerically corresponding day, on the last day) of the calendar month that is one (1), two (2), three (3), (3) or six (6) months thereafter, after the commencement of such period, in each case as Borrower may elect; accordance with Borrower's election made pursuant to the terms of this Note; provided, however, that if an Interest Period would end on a day that is not a Joint Business Day, such Interest Period shall be extended to the next succeeding Joint Business Day Day, unless such next succeeding Joint Business Day would fall in the next calendar month, in which case such Interest Period shall end on the immediately preceding Joint Business Day. To the extent that the preceding clause results in either the extension or shortening of an Interest Period for a particular Loan, the Bank shall have the right (but not the obligation) to shorten or extend, respectively, the succeeding Interest Period so that it shall end on a day that numerically corresponds to the Draw Date for such Loan. View More Arrow
Found in HARDINGE INC contract
Interest Period. Shall shall mean, as to any used in connection with the LIBOR Rate Loan, Rate, the period commencing on the Draw Date, the Conversion Date date of this Note or Continuation Date for such LIBOR Rate Loan (as the case may be) and ending on the date that shall be: (i) If the Interest Period duration selected for such LIBOR Rate Loan is "one day": the following day; provided, however, that if an Interest Period would end on a day that is not a Business Day, such Interest Period shall be extended to... the next succeeding Business Day. (ii) If the Interest Period duration selected for such LIBOR Rate Loan is other than "one day": the numerically corresponding day (or, if there is no numerically corresponding day, on the last day) of the calendar month that is one (1), two (2), three (3), (3) or six (6) months thereafter, in each case as Borrower may elect; thereafter (as selected below); provided, however, that if an Interest Period would end on a day that is not a Joint Business Day, such Interest Period shall be extended to the next succeeding Joint Business Day unless such next succeeding Joint Business Day would fall in the next calendar month, in which case such Interest Period shall end on the immediately preceding Joint Business Day. To the extent that the preceding clause results in either the extension or shortening of an Interest Period, the Bank shall have the right (but not the obligation) to shorten or extend, respectively, the succeeding Interest Period so that it shall end on a day that numerically corresponds to the date of this Note. View More Arrow
Found in HARDINGE INC contract
Interest Period. Shall shall mean, as to any LIBOR Rate Loan, the period commencing on the Draw Date, the Conversion Date or Continuation Date for such LIBOR Rate Loan and ending on the date that shall be: (i) If the Interest Period duration selected for such LIBOR Rate Loan is "one day": the following day; provided, however, that if an Interest Period would end on a day that is not a Business Day, such Interest Period shall be extended to the next succeeding Business Day. (ii) If the Interest Period duration... selected for such LIBOR Rate Loan is other than "one day": the numerically corresponding day (or, if there is no numerically corresponding day, on the last day) of the calendar month that is one (1), (1) month or two (2), three (3), or six (6) (2) months thereafter, in each case as Borrower may elect; provided, however, that if an Interest Period would end on a day that is not a Business Day, such 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 Interest Period shall end on the immediately preceding Business Day. Day View More Arrow
Found in CH ENERGY GROUP INC contract
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