LIBOR Option definition

LIBOR Option has the meaning specified therefor in Section 2.12(a) of the Agreement.

LIBOR Option has the meaning set forth in Section 2.13(a).

LIBOR Option has the meaning specified therefor in Section 2.13(a).

Examples of LIBOR Option in a sentence

• On the last day of each applicable Interest Period, unless Borrowers have properly exercised the LIBOR Option with respect thereto, the interest rate applicable to such LIBOR Rate Loan automatically shall convert to the rate of interest then applicable to Base Rate Loans of the same type hereunder.

• In addition, if as a result of a change in Law or otherwise, CoBank is required to allocate additional capital to, or otherwise bear increase costs as a result of maintaining balances under, the LIBOR Option, the Company agrees to indemnify CoBank upon demand against all such costs.

• Notice of Borrowers’ election of the LIBOR Option for a permitted portion of the Revolving Loans and an Interest Period pursuant to this Section shall be made by delivery to Agent of a LIBOR Notice received by Agent before the LIBOR Deadline, or by telephonic notice received by Agent before the LIBOR Deadline.

• Notwithstanding the foregoing, at CoBank’s option, interest on balances bearing interest at the LIBOR Option shall be payable on the last day of the Interest Period or, in the case of Interest Periods of longer than three months, at three month intervals.

• Interest based on the Adjusted LIBOR Option is a per annum rate (based on a year of 360 days and actual days elapsed) for each day equal to the thirty (30) day adjusted LIBOR (expressed as a percentage) for thirty-day dollar deposits as quoted by the Lender for 11:00 a.m. (London time) and will change on and as of the date of a change in the 30 day LIBOR.

More Definitions of LIBOR Option

LIBOR Option has the meaning specified therefor in Section 2.04(d)(i).

LIBOR Option shall have the meaning given to such term in Section 4.8(a).

LIBOR Option means the option granted pursuant to subsection 2.6(B) to have the interest on all or any portion of the principal amount of the Loan based on a LIBOR Based Rate.

LIBOR Option means the option granted pursuant to subsection 2.6(B) to have the interest on all or any portion of the principal amount of the Revolving Loan based on a LIBOR Based Rate.

LIBOR Option shall have the meaning given that term in SECTION 2.6(a) below.

LIBOR Option means an annual rate of interest equal to the then applicable reserve adjusted thirty (30), sixty (60) or ninety (90) day LIBOR as selected by Borrower, plus the then applicable LIBOR Option Percentage set forth in the definition of Applicable Spread.

LIBOR Option the option granted pursuant to Section 3.1 of the Agreement to have the interest on all or any portion of the principal amount of the Revolving Credit Loans or the Term Loan based on the LIBOR. LIBOR Portion - a LIBOR Revolving Portion or a LIBOR Term Portion. LIBOR Request - a notice in writing (or by telephone confirmed electronically or by telecopy or other facsimile transmission on the same day as the telephone request) from a Borrower to Agent requesting that interest on a Revolving Credit Loan or all or any portion of the Term Loan be based on the LIBOR, specifying: (i) the first day of the Interest Period (which shall be a Business Day); (ii) the length of the Interest Period; (iii) whether the LIBOR Portion is a new Loan, a conversion of a Base Rate Portion, or a continuation of a LIBOR Portion, and (iv) the dollar amount of the LIBOR Portion, which shall be in an amount not less than $1,000,000 or an integral multiple of $100,000 in excess thereof. LIBOR Revolving Portion - that portion of the Revolving Credit Loans specified in a LIBOR Request (including any portion of Revolving Credit Loans which is being borrowed by a Borrower concurrently with such LIBOR Request) which, as of the date of the LIBOR Request specifying such LIBOR Revolving Portion, has met the conditions for basing interest on the LIBOR in Section 3.1 of the Agreement and the Interest Period of which has not terminated. LIBOR Term Portion - that portion of the Term Loan specified in a LIBOR Request which, as of the date of the LIBOR Request specifying such LIBOR Term Portion, has met the conditions for basing interest on the LIBOR in Section 3.1 of the Agreement and the Interest Period of which has not terminated.