Examples of Floating LIBOR Rate Loans in a sentence
The Administrative Agent shall promptly notify the Borrower and the Lenders of the interest rate applicable to any Interest Period for Eurodollar Rate Loans or the interest rate applicable to any Daily Floating LIBOR Rate Loans, as applicable, upon determination of such interest rate.
Each such Committed Loan Notice must be received by the Administrative Agent not later than 2:00 p.m. (i) three Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Eurodollar Rate Loans, (ii) on the requested date of any Borrowing of or conversion to Base Rate Committed Loans, and (iii) one Business Day prior to the requested date of any Borrowing of or conversion to Daily Floating LIBOR Rate Loans.
Upon receipt of such notice, the Borrower may revoke any pending request for a Borrowing of Daily Floating LIBOR Rate Loans and/or a Borrowing, conversion to or continuation of Eurodollar Rate Loans (to the extent of the affected Eurodollar Rate Loans or Interest Periods) or, failing that, will be deemed to have converted such request into a request for a Borrowing of Base Rate Loans in the amount specified therein.
Daily Floating LIBOR Rate Loans shall automatically continue each day as Daily Floating LIBOR Rate Loans unless and until the Borrower delivers a timely notice requesting a conversion of such Daily Floating LIBOR Rate Loans to another Type of Loan.
During the existence of a Default, no Loans may be requested as, converted to or continued as Eurodollar Rate Loans or Daily Floating LIBOR Rate Loans without the consent of the Required Lenders.
Upon receipt of such notice, the Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of Eurodollar Rate Loans or Daily Floating LIBOR Rate Loans, as applicable (to the extent of the affected Eurodollar Rate Loans, Daily Floating LIBOR Rate Loans or Interest Periods) or, failing that, will be deemed to have converted such request into a request for a Committed Borrowing of Base Rate Loans in the amount specified therein.
Until each Lender funds its Base Rate Loans, Daily Floating LIBOR Rate Loans or risk participation pursuant to this Section 2.04 to refinance such Lender’s Applicable Percentage of any Swing Line Loan, interest in respect of such Applicable Percentage shall be solely for the account of the Swing Line Lender.
Within the parameters of the applications set forth above, prepayments shall be applied first to Base Rate Loans, then to Daily Floating LIBOR Rate Loans and then to Eurodollar Rate Loans in direct order of Interest Period maturities.
Committed Loans may be Base Rate Loans, Daily Floating LIBOR Rate Loans or Eurodollar Rate Loans, as further provided herein.
During the existence of a Default, no Loans may be requested as Daily Floating LIBOR Rate Loans or requested as, converted to or continued as Eurodollar Rate Loans without the consent of the Required Lenders, and the Required Lenders may demand that any or all of the then outstanding Daily Floating LIBOR Rate Loans and/or Eurodollar Rate Loans be converted immediately to Base Rate Loans.