BUSE » Topics » Interest Period

These excerpts taken from the BUSE 8-K filed Aug 20, 2009.
“Interest Period” means, with respect to a LIBOR Rate Advance, a period of one (1), two (2), three (3), six (6) or twelve (12) month(s) commencing on a Business Day selected by the Borrower pursuant to this Note. Such Interest Period shall end on the day which corresponds numerically to such date one (1), two (2), three (3), six (6) or twelve (12) month(s) thereafter, as applicable, provided, however, that if there is no such numerically corresponding day in such first, second, third, sixth or twelfth succeeding month(s), as applicable, such Interest Period shall end on the last Business Day of such first, second, third, sixth or twelfth succeeding month(s), as applicable. If an Interest Period would otherwise end on a day which is not a Business Day, such 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 Interest Period shall end on the immediately preceding Business Day.

 

“Interest Period” means, with respect to a LIBOR Rate Advance, a period of one (1), two (2), three (3), six (6) or twelve (12) month(s) commencing on a Business Day selected by the Borrower pursuant to this Note. Such Interest Period shall end on the day which corresponds numerically to such date one (1), two (2), three (3), six (6) or twelve (12) month(s) thereafter, as applicable, provided, however, that if there is no such numerically corresponding day in such first, second, third, sixth or twelfth succeeding month(s), as applicable, such Interest Period shall end on the last Business Day of such first, second, third, sixth or twelfth succeeding month(s), as applicable. If an Interest Period would otherwise end on a day which is not a Business Day, such 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 Interest Period shall end on the immediately preceding Business Day.

 

This excerpt taken from the BUSE 8-K filed Nov 13, 2007.
“Interest Period” means each consecutive one month period, the first of which shall commence on the date of this Note, ending on the day which corresponds numerically to such date one (1) month thereafter, provided, however, that if there is no such numerically corresponding day in such first succeeding month, such Interest Period shall end on the last Business Day of such first succeeding month. If an Interest Period would otherwise end on a day which is not a Business Day, such 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 Interest Period shall end on the immediately preceding Business Day.

 

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