Examples of Cost of Funds Rate Loan in a sentence
Long Term Incentive Plan)Ladies and Gentlemen:We have acted as special counsel to Basic Energy Services, Inc., a Delaware corporation (the “ Company”), with respect to the preparation of the Company’s Registration Statement on Form S-8 filed with the Securities and Exchange Commission (the “Commission”) on the date hereof (the “Registration Statement”).
The Borrowers shall give the Bank prior telecopied or telephone notice, on a Business Day, (i) not later than 10:00 a.m. (Boston time) on the day of any advance with respect to a Prime Rate Loan or Fixed Rate Loan and (ii) not later than 10:00 a.m. (Boston time) at least two (2) Business Days prior to the day of any advance with respect to a LIBOR Rate Loan or Cost of Funds Rate Loan.
Whenever the Borrowers elect to obtain a LIBOR Rate Loan or Cost of Funds Rate Loan or Fixed Rate Loan under either of the Lines of Credit or in respect of the Term Loan or any portion thereof, they may request that the Bank provide quotes as of any specified date as to the LIBOR Lending Rate or Cost of Funds Rate Loan or Fixed Rate Loan for any or all Interest Periods, and the Bank shall promptly provide such quotes.
Each such notice shall be irrevocable once given and shall specify the principal amount of the advance to be made, the date of the advance (which shall be a Business Day), whether each advance is to be maintained as a Prime Rate Loan, Cost of Funds Rate Loan, LIBOR Rate Loan, or Fixed Rate Loan, and in the case of a LIBOR Rate Loan, Cost of Funds Rate Loan or Fixed Rate Loan, the Interest Period applicable thereto.
Each Revolving Loan shall be denominated in Dollars and, except as provided below, each Loan made by a Lender other than a CP Conduit shall be incurred and maintained only as a LIBOR Loan, and each Loan made by a CP Conduit shall be incurred and maintained only as a Cost of Funds Rate Loan.