case, as the relevant Borrower may select by no later than 2:00 p.m. on the
date falling 3 Business Days before the first day of the relevant Interest
Period, provided that:
(A)
IF THE RELEVANT BORROWER FAILS TO GIVE SUCH NOTICE OF SELECTION IN
RELATION TO AN INTEREST PERIOD, THE DURATION OF THAT INTEREST PERIOD SHALL,
SUBJECT TO THE OTHER PROVISIONS OF THIS CLAUSE 13, BE 3 MONTHS;
(B)
PRIOR TO THE SYNDICATION DATE, UNLESS THE FACILITY AGENT OTHERWISE
AGREES, THE DURATION OF EACH INTEREST PERIOD SHALL BE 1 MONTH (OR, IF LESS, SUCH
DURATION AS MAY BE NECESSARY TO ENSURE THAT SUCH INTEREST PERIOD ENDS ON THE
SYNDICATION DATE); AND
(C)
ANY INTEREST PERIOD THAT WOULD OTHERWISE END DURING THE MONTH
PRECEDING OR EXTEND BEYOND A REPAYMENT DATE RELATING TO THE RELEVANT TERM
FACILITY OUTSTANDINGS SHALL BE OF SUCH DURATION THAT IT SHALL END ON THAT
REPAYMENT DATE IF NECESSARY TO ENSURE THAT THERE ARE ADVANCES UNDER THE RELEVANT
TERM FACILITY WITH INTEREST PERIODS ENDING ON THE RELEVANT REPAYMENT DATE IN A
SUFFICIENT AGGREGATE AMOUNT TO MAKE THE REPAYMENT DUE ON THAT REPAYMENT DATE.
13.3
CONSOLIDATION OF TERM FACILITY ADVANCES
If 2 or more Interest Periods in respect of Term Facility Advances denominated
in the same currency under the same Term Facility end at the same time, then on
the last day of those Interest Periods, the Term Facility Advances to which
those Interest Periods relate shall be consolidated into and treated as a single
Term Facility Advance.
13.4
DIVISION OF TERM FACILITY ADVANCES
Subject to the requirements of Clause 13.2 (Duration) either Borrower may, by no
later than 2:00 p.m. on the date falling 3 Business Days before the first day of
the relevant Interest Period, direct that any
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Term Facility Advance borrowed by it shall, at the beginning of the next
Interest Period relating to it, be divided into (and thereafter, save as
otherwise provided in this Agreement, be treated in all respects as) 2 or more
Advances in such amounts (equal in aggregate to the Sterling Amount (or the
equivalent in Sterling) of the Term Facility Advance being so divided) as shall
be specified by the relevant Borrower in such notice provided that such Borrower
shall not be entitled to make such a direction if:
(A)
AS A RESULT OF SO DOING, THERE WOULD BE OUTSTANDING MORE THAN 10
ADVANCES OUTSTANDING UNDER THE RELEVANT TERM FACILITY; OR
(B)
ANY TERM FACILITY ADVANCE THEREBY COMING INTO EXISTENCE WOULD HAVE
A STERLING AMOUNT OF LESS THAN £25,000,000.
13.5
PAYMENT OF INTEREST FOR TERM FACILITY ADVANCES
On (a) the last day of each Interest Period (or if such day is not a Business
Day, on the immediately succeeding Business Day in the then current month (if
there is one) or the preceding Business Day (if there is not)), and if the
relevant Interest Period exceeds 6 months, on the expiry of each 6 month period
during that Interest Period, or (b) if Clause 16.1(k) applies, the relevant